Statement from Bank Sarasin & Co. Ltd in response to an article in the German journal FOCUS published 23 November 2009
November 23, 2009 | by Bank Sarasin
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November 23, 2009, Following an article published in today’s edition of the German journal FOCUS (page 130 ff, FOCUS issue no. 48 dated 23 November 2009), which conveyed the false impression that Bank Sarasin & Co. Ltd had supposedly "secretly purchased Douglas shares on behalf of Mr Mueller", Bank Sarasin sees it necessary to issue the following statement in order to set the record straight:
Bank Sarasin & Co. Ltd has consistently met its legal disclosure obligations. As recently as 22 July 2009, Bank Sarasin notified the German financial services regulator, BUNDESANSTALT FUER FINANZDIENSTLEISTUNGSAUFSICHT, and DOUGLAS Holding AG that it owns 10.80 % of the voting right in DOUGLAS Holding AG as part of its own shareholdings. This notification was published both by the German financial services regulator and DOUGLAS Holding on their respective websites. Bank Sarasin’s purchase of the shares in question in DOUGLAS Holding was therefore neither done secretly nor on behalf of Mr Müller or any other third party. The fact is, Bank Sarasin acquired its stake in DOUGLAS Holding on its own account and in order to hedge positions in its trading book.
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Source: Bank Sarasin, Press release