Disclosure of shareholdings as of 22 May 2008 (2)
UBS Completes the Sale of USD $15 Billion of U.S. Real Estate Related Assets to BlackRockUBS has continued its commitment to Asian golf, announcing contract extensions for its two flagship tournaments that will take partnerships in key markets Hong Kong and Japan into 2009.
Marcel Ospel will not be standing for re-election to the Board of Directors of UBS.Peter Kurer is nominated for election to the Board and is proposed as Chairman.
Pre-announcement of first quarter 2008 estimated net loss of approximately CHF 12 billionFully underwritten rights issue of approximately CHF 15 billion to strengthen Tier 1 capitalCreation of separate unit to manage selected US real estate related positionsMarcel Ospel not to seek re-election at Annual General Meeting, to be succeeded as Chairman by Peter Kurer (separate media release)
UBS publishes 2007 annual reportUBS is today publishing its latest annual report - a set of four themed reports providing comprehensive information on UBS, its business, governance and financial performance. The report is available at www.ubs.com/annualreporting.
New term of office regulation and appointments in the Board of Directors of UBSThe Board of Directors of UBS will propose to the Annual General Meeting that the terms of office of Board members be reduced to one year. Marcel Ospel, Peter Voser and Larry Weinbach will be proposed for re-election for a one-year term. Sergio Marchionne is appointed non-executive Vice Chairman of the Board of Directors. Peter Voser will take over as Chairman of the Audit Committee from Larry Weinbach.
UBS Appoints Jerker Johansson as Chairman and Chief Executive Officer of the Investment BankTo strengthen the management structure of the firm, UBS announces three appointments to the Group Executive Board (GEB): Robert Wolf, Chairman and CEO, UBS Group Americas and President and Chief Operating Officer, Investment Bank; Alexander Wilmot-Sitwell, Joint Global Head, Investment Banking Department, UBS Investment Bank and Marten Hoekstra, Head of Wealth Management, Americas.
UBS pre-announces full-year and fourth quarter 2007 resultsUBS will report a net loss attributable to shareholders of approximately CHF 4.4 billion for full-year 2007.
UBS strengthens capital base and adjusts valuationsUBS has introduced measures to substantially strengthen its capital position,adding CHF 19.4 billion of BIS Tier 1 capital. These include an issue of CHF 13billion of new capital. This has been placed with two strategic investors:Government of Singapore Investment Corporation Pte. Ltd. (GIC), with CHF 11billion, and an undisclosed strategic investor in the Middle East with CHF 2 billion.At the same time, UBS has revised key input parameters of the models that areused to estimate lifetime default and resulting losses for sub-prime mortgagepools. As a result of these revisions, UBS will write down its US sub-primeholdings by approximately a further USD 10 billion.After these actions, UBS projects a strong BIS Tier 1 ratio of above 12%.
UBS re-confirms Group third quarter pre-tax loss in line with CHF 600 - 800 million range given on 1 October 2007UBS confirms the expected pre-tax loss and gives a business outlook for the fourth quarter.
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