Credit Suisse confirmed it will hold an Extraordinary General Meeting later this month for shareholders to approve the proposed increase in share capital.
Following its announcement on October 27 that it plans to raise capital, shareholders will vote to approve the measure at an extraordinary general meeting on November 23, Credit Suisse announced Tuesday.
As previously reported, Credit Suisse plans to raise around 4 billion Swiss francs via two capital increases to support its strategic transformation and boost its CET1 ratio.
Two Capital Increases
The first is an ordinary capital increase via private placement of up to 462,041,884 newly issued registered shares with a par value of 0.04 francs each to several qualified investors
The second, also an ordinary capital increase is by way of a rights offering of up to 1,767,165,146 newly issued registered shares with a 0.04 par value to existing shareholders. The proviso is the total number of shares issued in both capital increases not exceeding 1,767,165,146 new shares.
No Broadcast
Shareholders will not be allowed to attend, nor will the event be broadcast live. Instead, voting results will be published following the EGM as will be the minutes of the meeting. A speech to shareholders by Chairman Axel Lehmann will also be made available after the meeting.
Credit Suisse requested shareholders to vote in advance by granting power of attorney and issuing voting instructions to an independent proxy, by November 18.
