Credit Suisse Group AG Announce Final Terms of Proposed Stock Dividend for FY 2012


Friday, 26 Apr 2013 03:49am EDT 

Credit Suisse Group AG (CSG) announced the final terms of the proposed stock dividend for 2012. The Board of Directors set the ratio at which new CSG shares will be issued to one new share for 41 existing shares. As previously announced, the Board of Directors proposes for the financial year 2012 a combined distribution against reserves from capital contributions in cash of CHF 0.10 per registered share, as cash dividend, and in the form of new shares, as stock dividend. With respect to the stock dividend, the Board of Directors decided that 41 existing CSG shares are required to receive one new CSG share free of charge in the context of the proposed stock dividend to be approved by the Annual General Meeting (AGM). The ratio was set so that the theoretical value of each right to be allocated to the shareholders is approximately CHF 0.65 based on the current share price level. If the AGM approves the proposed distribution of the stock dividend and the proposed increase of the authorized capital, each shareholder will be allocated one non-tradable right for every CSG share held after market close on April 29, 2013. Based on 1,539,643,781 CSG shares eligible for the distribution, the ratio of 1:41 translates into 37,552,287 shares to be newly issued or 2.4% of currently issued shares. The new CSG shares are expected to be delivered on May 13, 2013. The listing and first trading day of the new CSG shares on SIX Swiss Exchange are expected to occur on May 13, 2013. 

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