Repurchase of shares
On 24 August 2018, the LLB launched a share repurchase programme via the regular trading line of SIX. The LLB has now concluded this programme ahead of schedule and holds a capital share of 1.18% of its own company as at 27 November 2019.
Within the framework of the authorisation issued by the General Meeting of Shareholders on 12 May 2017, the LLB launched a public share repurchase programme on 23 August 2018 for up to 400'000 listed registered shares with a nominal value of CHF 5.00 each. During the period from 24 August 2018 to 27 November 2019, a total of 400'000 listed registered shares were repurchased. This corresponds to 1.30% of the share capital.
After the scheduled allocation of LLB shares to variable remuneration, the LLB directly or indirectly holds a total of 364'735 of its own registered shares (1.18% of the capital) as at 27 November 2019. No shares are being cancelled, so that the capital structure remains unchanged. The registered shares held by the LLB are to be used for the purpose of future acquisitions or Treasury management measures.
The Zürcher Kantonalbank was commissioned by the LLB to carry out the repurchase of the registered shares.