Baloise increases its share buy-back programme

Basel, Baloise is increasing the volume of share repurchases announced at the Investor Day in October 2016 from one million to three million. As part of its positive shareholder policy, Baloise is thus counteracting the dilution of earnings per share resulting from a convertible bond that reached maturity in November 2016.

About one-third of the convertible bond, which matured on 17 November 2016, has been converted and the rest repaid. The repayment was funded by selling the shares in the market that had been reserved for the convertible bond and had become free. Around 1.8 million shares will have come onto the market in connection with the convertible bond. This will increase the number of shares in circulation, thereby diluting the earnings per share. Subsequently, Baloise intends to buy back this dilution under its positive shareholder policy, which is why it is stepping up the share buy-back programme announced on 26 October 2016 to up to three million treasury shares. A second trading line will be used. The planned time frame for the buy-back is up to three years.

Overview of treasury shares

  31 Dec 2015 30 Jun 2016 30 Nov 2016
Number of
shares issued
50'000'000 50'000'000 50'000'000
Number of
treasury shares
3'464'540 3'858'525 2'923'613
Number of
shares in
circulation
46'535'460 46'141'475 47'076'387

The Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,300 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel 'simply safe'. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, with Baloise Bank SoBa, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.