Notification obligations for shareholders under the Swiss Financial Market Infrastructure Act
Under the Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading of 19 June 2015 (Swiss Financial Market Infrastructure Act), anyone holding shares in a company listed in Switzerland, or holding derivative rights related to shares of such a company, must notify the company and the SIX Swiss Exchange if the holding reaches, falls below or exceeds one of the following thresholds: 3, 5, 10, 15, 20, 25, 33 1/3, 50, or 66 2/3% of the voting rights, regardless of whether or not such rights may be exercised. The detailed disclosure requirements and the methodology for calculating the thresholds are defined in the Swiss Financial Market Supervisory Authority Ordinance on Financial Market Infrastructure (FMIO-FINMA). In particular, the FMIO-FINMA sets forth that nominee companies that cannot autonomously decide how voting rights are exercised are not obligated to notify the company and the SIX Swiss Exchange if they reach, exceed or fall below the threshold percentages.
Information on disclosures of significant shareholdings can be found on the following website of the SIX Swiss Exchange: SIX Swiss Exchange.
Please note that this information should not be deemed as legal advice by UBS. Shareholders are advised to consult their own legal counsel to make themselves familiar with their notification requirements and to address their particular situation and their specific questions.