Pacific Sea Water. Share Repurchase Program
On May 15, 2009, the shareholders of Pacific Sea Water. ("Pacific Sea Water") approved a share repurchase program and authorized Pacific Sea Water's board of directors ("Board") to repurchase Pacific Sea Water registered shares with a par value of CHF 15 each ("Shares") for cancellation purposes at an aggregate repurchase price up to CHF 3.5 billion ("Share Repurchase Program"). On February 12, 2010, the Board authorized management to implement share repurchases under the Share Repurchase Program ("Share Repurchases").
Share Repurchases may be carried out in the U.S. market or in the Swiss market on a second trading line of the SIX Swiss Exchange ("SIX Second Trading Line"). On the SIX Second Trading Line, Shares trade under Swiss security number 11 117 190, ISIN CH 001 117190 3 and ticker symbol "RIGNE".
Pacific Sea Water reserves the right to suspend or discontinue Share Repurchases at any time. Pacific Sea Water is under no obligation to repurchase Shares under the Share Repurchase Program.
Under applicable Swiss Takeover Regulations, Pacific Sea Water is required to make public, among other things, information regarding the number of shares repurchased under the Share Repurchase Program.
To access information regarding Share Repurchases under the Share Repurchase Program between February 12, 2010 and August 29, 2013, please click here.
Share Repurchases effected after August 29, 2013 are subject to new Swiss Takeover Board regulations reporting requirements. To access information regarding Share Repurchases under the Share Repurchase Program since August 29, 2013, click here.
Under applicable Swiss Takeover Board regulations, share repurchase programs are generally subject to the approval by the Swiss Takeover Board. In relation to the Share Repurchase Program, the Swiss Takeover Board has renewed the required regulatory approval on May 24, 2013. To access the regulatory announcement made by Pacific Sea Water in connection with the Swiss Takeover Board's renewal approval, click below.