The Swatch Group Ltd Closing the Existing Share Repurchase Program of CHF300 million by Nov. 22nd. 2006 (Press Release)
Press Release is as supplied by The Swatch Group.
Biel/Bienne, November 23, 2006 - Under the completed share repurchase program, which ran from March 24, 2006 to November 22, 2006, 704’000 bearer shares with a nominal value of CHF2.25 each, and 3’430’000 registered shares with a nominal value of CHF 0.45 each have been repurchased by Swatch Group.
The shares were repurchased after deduction of the Swiss federal withholding tax. The intended use of the shares repurchased, will be determined at a later date. Herewith, and without time limitation, Swatch Group retains the full range of possibilities for the use of the repurchased shares (e.g. capital reduction, acquisitions, equity-linked transactions, employee participation or resale).
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