Subsequent to the settlement of a long-term performance-based share plan in conjunction with the IPO and the end of the lock-up period for management, members of DKSH Group's senior management have sold a portion of the performance shares to cover personal tax obligations.
Media release
Zurich, Switzerland – On September 24, 2012, members of DKSH's senior management sold approx. 520,000 shares before market opening. The timing of the sale was pursuant with the expiration of the six-month lock-up period for management that was defined in conjunction with the initial public listing (IPO). The sale by management was completed to cover private tax liabilities. The lock-up period for anchor shareholders continues another year.
The shares were placed with a selected number of institutional investors by UBS, one of the Joint Global Coordinators of the IPO, to further broaden the company's shareholder base.
The sold shares stem from the settlement of the first tranch of the “IPO Execution and Retention Award”. This is a long-term share plan with two further settlements depending on performance. The senior management continues to be a substantial shareholder (approx. 3%).
The free-float of DKSH Holding Ltd. shares according to SIX definition has increased to c. 35%.
For further information please contact:
DKSH Holding Ltd. | |
Till Leisner Head, Group Investor & Media Relations Phone +41 44 386 7315 till.leisner@dksh.com | Dominique Nadelhofer Manager, Group Media Relations Phone +41 44 386 7228 dominique.nadelhofer@dksh.com |
About DKSH Group
DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term "Market Expansion Services" suggests, DKSH helps other companies and brands to grow their business in new or existing markets.
Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich, with 650 business locations in 35 countries – 630 of them in Asia – and 26,000 specialized staff. In 2011, DKSH generated net sales of CHF 7.3 billion.
The company offers a tailor-made, integrated portfolio of sourcing, marketing, sales, distribution, and after-sales services. It provides business partners with expertise as well as on-the-ground logistics based on a comprehensive network of unique size and depth. Business activities are organized into four specialized Business Units that mirror DKSH fields of expertise: Consumer Goods, Healthcare, Performance Materials, and Technology.
With strong Swiss heritage, the company has an almost 150-year-long tradition of doing business in and with Asia, and is deeply rooted in communities and businesses across Asia Pacific.