Walter Meier is to mark the company’s 75th birthday with an anniversary payout.
Walter Meier is celebrating its 75th anniversary and is marking the occasion by rewarding its shareholders for their loyalty and trust by making a payout in the form of put options.
These can either be sold on the stock exchange or used to tender shares.
Each shareholder will receive one -A- put option per -A- registered share free of charge, and it can be traded on the SIX Swiss Exchange from June 4 to 14, 2012.
Based on the closing price on May 23, 2012, the theoretical value of a put option amounts to more than CHF 2.50 (although this will depend on the current market price of Walter Meier stock – if the market price rises, the theoretical value of the put options will fall and vice versa).
There will be an equivalent distribution of -B- put options for -B- registered shares whose exercise price is correspondingly lower in line with the nominal value.
As an alternative to selling them on the stock market, the put options can be used to tender shares directly to Walter Meier AG. For 20 -A- put options, one -A- registered share can be sold to Walter Meier AG at the exercise price of CHF 260 (European options), and this up to 5:00 p.m. CET on June 15, 2012.
This presently equates to a premium of approximately 26 percent. The exercise price is expected to be paid out on June 21, 2012.
Walter Meier will acquire up to 5 per cent of the outstanding capital by buying back the shares with put options. A sustained increase in the profit per share will be achieved as a result of the planned destruction of the shares bought back.
It is recommended that shareholders follow the instructions and recommendations of their respective custodian bank regarding the question of whether the put options should be sold on the stock market or used to tender shares.
As principal shareholder of Walter Meier, Greentec AG will be supporting the anniversary payout by exercising its own put options.
Furthermore Greentec will support the market by purchasing additional put options, if necessary. In this regard, Greentec accepts that its current stake of just under 60 percent of the share capital may be slightly reduced.