Bank Sarasin & Co. Ltd successfully completes capital increase through cash or title options (COTOs)

The period for Sarasin’s shareholders to exercise their cash or title options (COTOs) ended on 15 September 2009. 99.9% of the total COTOs issued were exercised by shareholders, including the bank's majority shareholder Rabobank, in order to subscribe to the new registered shares. On 16 September 2009 the share capital of Bank Sarasin & Co. Ltd therefore amounted to CHF 22,014,783.91.

The decision to issue COTOs combined with a reduction in par value was taken by shareholders in April 2009 at the 22nd Annual General Meeting of Bank Sarasin & Co. Ltd. This is in place of the normal dividend payment. Every existing Class A or Class B registered share was allocated one COTO A or COTO B on 7 July 2009. The COTO B gave the public holders of registered shares a right – which was tradable on the main board of the SIX Swiss Exchange for the duration of the subscription period – to choose between receiving new shares, selling the COTO on the stock exchange or receiving a cash settlement.

During the subscription period from 7 July 2009 to 15 September 2009, 99.9% of the total COTOs issued were exercised to subscribe to new registered shares. On 16 September 2009 Bank Sarasin’s share capital therefore comprised the following:

As at 16 September 2009 Rabobank owned, via IPB Holding B.V., all 56,571,428 Class A registered shares and 17,660,881 Class B registered shares. This is equivalent to a total of 68.6% of the voting rights and 46.1% of the share capital of Bank Sarasin & Co. Ltd.