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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  EFG International AG    EFGN   CH0022268228

EFG INTERNATIONAL AG

(EFGN)
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EFG International : launches share buyback programme

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06/01/2019 | 05:50am EST

EFG International, a global private banking group offering asset management services based in Zurich, Switzerland, is set to repurchase up to eight million of its own registered shares under a share buyback programme.

The share buyback programme refers to a maximum of 8,000,000 registered shares, equivalent to a

maximum of 2.7% of the current share capital and voting rights. said a statement from Swiss company.

The repurchased shares will be used to fund restricted stock units relating to employee incentive, plans including the long-term incentive plan announced in March.

EFG prevents shareholders from experiencing a further annual dilution, due to the issue of shares from conditional capital in connection with its employee incentive plans.

The shares will be purchased in the open market between June 3 and June 30, 2020.

By repurchasing the shares, EFG prevents shareholders from experiencing a further annual dilution, as had been the case in previous years due to the issue of shares from conditional capital in connection with its employee incentive plans.

The share buyback is being executed by EFG Bank, Zurich, a wholly-owned subsidiary of EFG.

EFG currently has participation capital of CHF 200,730, divided into 13,382 registered participation certificates with a nominal value of CHF15.

EFG’s share buyback programme started on 27 July 2018 and was concluded on 12 March 2019. EFG repurchased a total of 6,000,000 registered shares, equivalent to 2.07% of the share capital as of July 2018, on the Six Swiss Exchange for an amount of CHF40,572,422 through its wholly owned subsidiary EFG Bank AG.

The repurchased shares are used to fund restricted stock units relating to employee incentive plans, as EFG prevents further shareholder dilution, caused by the issue of shares from conditional capital in connection with its employee incentive plans.

The share buyback was exempted from the provisions on public takeover offers provided for in section 6.1 of the Circular no.1 of the Swiss Takeover Board dated June 27, 2013 (status as of January 1, 2016) and referred to a maximum of 6,000,000 registered shares, equivalent to a maximum of 2.07% of the share capital and voting rights as of July 2018.-TradeArabia News Service

(c) 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CHF)
Sales 2019 1 147 M
EBIT 2019 239 M
Net income 2019 113 M
Debt 2019 -
Yield 2019 5,04%
P/E ratio 2019 17,9x
P/E ratio 2020 11,9x
Capi. / Sales2019 1,59x
Capi. / Sales2020 1,48x
Capitalization 1 827 M
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Technical analysis trends EFG INTERNATIONAL AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 7,14  CHF
Last Close Price 6,24  CHF
Spread / Highest target 34,6%
Spread / Average Target 14,5%
Spread / Lowest Target -3,85%
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Managers
NameTitle
Piergiorgio G. Pradelli Chief Executive Officer
John Alexander Williamson Chairman
Christian Flemming Chief Operating Officer
Dimitris Ch. Politis Chief Financial Officer
Mark Bagnall Chief Technology Officer
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