As part of the public purchase and exchange offer submitted by Helvetia Holding AG (“Helvetia”), St. Gallen, for all of the shares in Swiss National Insurance Company Ltd (“Nationale Suisse”), Basel, Helvetia applied to the Cantonal Court of Appeal of Basel-Stadt on 18 November 2014 to have the remaining shares in the company declared invalid. The judgement handed down by the Cantonal Court of Appeal of Basel-Stadt on 18 March 2015 is a final and binding decision, which declares as invalid all shares in Nationale Suisse which are not held either directly or indirectly by Helvetia in accordance with the Swiss Stock Exchange Act.
Helvetia will grant compensation to the holders of the shares that have been declared invalid. This compensation shall be equal to the amount of the offer price as per the public purchase and exchange offer of 8 August 2014, i.e. a cash component of CHF 52 and an equity component of 0.0680 Helvetia registered shares per National Suisse share, to be paid out from 14 April 2015 onwards. The Helvetia shares allocated will carry the entitlement to payment of a dividend for the 2014 financial year.
Based on the judgement of the Cantonal Court of Appeal of Basel-Stadt and in accordance with the delisting decision of SIX Exchange Regulation of 18 December 2014, Nationale Suisse has notified the Stock Exchange of the last trading day and the delisting date. All Nationale Suisse registered shares, with a nominal value of CHF 0.40 each (NATN, Swiss security number 10.069.964), will be delisted from the Main Standard of SIX Swiss Exchange Ltd on 7 April 2015. The final trading day for Nationale Suisse shares has been set for 2 April 2015.
This media release is also available on the home page