Geneva, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Investor group NewGAMe and Bruellanpublishes
100-day plan for successful GAM turnaround
Investor group - which controls 9.6% of GAM shares -publishes detailed 100-day plan to be implemented after GAM's EGM on 18 August
Investor group also comments on GAM's H1-2023 results
Investor group will not tender to Liontrust offer and recommends other GAM shareholders support NewGAMe's turnaround plan
Geneva, 03 August 2023 - The investor group comprised of NewGAMe SA and Bruellan SA, which controls approximately 9.6% of the issued share capital of GAM Holding AG [GAM:SWX] ("GAM"), has published its 100-day plan detailing the concrete actions to be taken in the early stages of its turnaround of GAM. The 100-day plan, to be implemented after GAM's EGM on 18 August, includes immediate funding of CHF 25 million and a detailed stakeholder engagement plan to stabilize the business and provide the necessary reassurance to clients, fund managers and employees.
Antoine Spillmann, CEO and Partner at Bruellan and the investor group's proposed candidate for chairman of GAM's board, said:
"Our 100-day plan is a key part of the turnaround of GAM and will bring both certainty and security to the business - including CHF 25 million of immediate funding and a top team to lead the turnaround. As shown by GAM's H1-2023 results, published today, its fund management activities continue to outperform peer groups and benchmarks, and - with over CHF 20 billion in AuM - a successful turnaround can generate significant upside for all shareholders. We urge investors not to tender to the dilutive and value-destructive Liontrust offer."
NewGAMe's 100-day plan can be found here:
https://newgam.ch/assets/downloads/NewGAMe_100-day_plan.pdf
NewGAMe's investment thesis can be found here:
https://newgam.ch/assets/downloads/NewGAMe_-_Investment_thesis.pdf
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Media contacts
Sasha Johnson, FinElk
newgam@finelk.eu
info@newgam.ch
www.newgam.ch
Investor contacts
Okapi Partners LLC
North America: +1 212 297 0720
Europe: + 44 7597 370570
info@okapipartners.com
About NewGAMe
NewGAMe SA is a Geneva-based company owned by a number of investors with experience in the financial sector. It is controlled by Rock Investment, a French-incorporated entity that is owned by NJJ Holding, the personal holding company of Xavier Niel. Albert Saporta, a hedge fund industry veteran with 40 years' experience in global financial markets, serves as the director of NewGAMe SA.
About Bruellan
Bruellan SA is an independent provider of global wealth management solutions. The company was founded in 1991 and is located in Geneva, Lausanne, Crans-Montana and Verbier.
https://www.bruellan.ch/
