The Swatch Group: Closing of the existing share repurchase program
November 09, 2007 | by The Swatch Group SA
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November 09, 2007, Biel/Bienne, As per November 8, 2007, The Swatch Group Ltd has closed its repurchase program in the amount of CHF 400 million which it started on virt-x on March 30, 2007.
Under this share repurchase program, The Swatch Group Ltd has repurchased, via two separate trading lines, 570,000 bearer shares at a nominal value of CHF 2.25 each and 2,850,000 registered shares at a nominal value of CHF 0.45 each.
After deduction of the Swiss federal withholding tax, the shares were repurchased with the intention of a later share capital reduction.
The Swatch Group Ltd will prepare a new share repurchase program in the amount of at least CHF 400 million. The company will request the necessary approvals. The start of the new share repurchase program will be announced in a separate press release.
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Source: The Swatch Group SA, Press release