Swiss private banking group, Bank Sarasin, has said that SIX Swiss Exchange extended the exemption granted to the bank from some disclosure duties arising from the listing of its equity securities.
As per the SIX’s decision, Bank Sarasin is exempted from certain disclosure obligations contemplated in the SIX’ listing rules, namely, the duty to report management transactions, to publish a corporate calendar and to report certain corporate events to the SIX.
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In addition, the SIX extended Bank Sarasin’s deadline to publish and submit the 2012 annual report in accordance with the listing rules applicable to its listed equity securities, bonds and derivatives from 30 April 2013 until 1 July 2013.
Sarasin requested these exemptions from SIX after Safra announced on 23 October 2012 that it had submitted a request before a court in Basel for the cancellation of Bank Sarasin’s remaining publicly held registered B shares.
The request is still pending and the delisting of Bank Sarasin’s registered B shares to which the SIX agreed will become effective when the decision of the Basel court to cancel the remaining publicly held registered B shares of Sarasin shall have become final.
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By GlobalData
