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|