Valartis Group AG: The Extraordinary General Meeting of Citychamp Watch & Jewellery Group Ltd. has endorsed acquisition of Valartis Bank (Liechtenstein) AG

Tuesday, 13. September 2016 11:30

Valartis Group AG / Valartis Group AG: The Extraordinary General Meeting of Citychamp Watch & Jewellery Group Ltd. has endorsed acquisition of Valartis Bank (Liechtenstein) AG . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

As expected, the Extraordinary General Meeting of Citychamp Watch & Jewellery Group Ltd.[1] has endorsed the acquisition of the Liechtenstein-based Valartis banking group[2], within the framework of a share purchase agreement (SPA)[3], with a considerable majority. From a current viewpoint, the closing of the sales transaction can be expected within the third quarter of 2016, thus the last precondition on the successful implementation of recovery plans for Valartis Finance Holding AG and Valartis Group AG would be fulfilled.

Continuity for clients and employees
Citychamp Watch & Jewellery Group Ltd. intends to continue the business activities of the bank in Liechtenstein, with the existing management and all employees, in order to continue to provide professional financial services in the fields of wealth management, investment advisory and fund management.

Agenda
General Meeting 2017                    16 May 2017

For further information, please contact:
Kim-My Schefer, Head Corporate Communications & Marketing, Valartis Group AG
Tel. +41 44 503 54 02, corporate.communications@valartis.ch
Chi Wah Fong, CFO, Citychamp Watch & Jewellery Group Ltd., Tel. +852 2275 3706
Lai Lam, CEO Assistant, Citychamp Watch & Jewellery Group Ltd., Tel. +852 2275 3761
www.citychampwatchjewellery.com

Valartis Group
Valartis Group is an international finance group with offices in Switzerland, Liechtenstein, Luxembourg, as well as Moscow and St. Petersburg. Valartis Group AG (Baar, Switzerland) is listed on the Swiss stock exchange, SIX Swiss Exchange. Continued operations include the fields of Corporate Finance, Private Equity and Real Estate Project Management together with participations in the financial services sector. www.valartisgroup.ch


[1]    See also media release from 26 August 2016: FMA Liechtenstein and the Hong Kong Stock Exchange (HKEX) approve the sale of Valartis Bank (Liechtenstein) AG. http://www.valartisgroup.ch/en/News-Media/News-Media-Releases/

[2]     See also HKEX, Circular of 26 August 2016, chapter Letter from the Board: "The Irrevocable Undertakings by the Controlling Shareholder", p. 37; http://www.hkexnews.hk/listedco/listconews/sehk/2016/0826/LTN20160826019.pdf

[3]    See also media release from 29 March 2016: Valartis Group to sell Valartis Bank (Liechtenstein) AG to Citychamp Watch & Jewellery Group Ltd. (Valartis Group AG's Liechtenstein-based finance holding company - Valartis Finance Holding AG - holds approximately 70 percent of capital in Valartis Bank (Liechten­stein) AG.) http://www.valartisgroup.ch/en/News-Media/News-Media-Releases/



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Source: Valartis Group AG via Globenewswire

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Valartis Group AG
Blegistrasse 11a Baar ZG Switzerland

ISIN: CH0001840450;
Related Links: Valartis Group AG
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