gam holding ag - 2nd line (GAME) Snapshot

GAM Holding AG approved a dividend distribution of CHF 0.50 per share for 2012, to be paid from capital contribution reserves. The dividend is unchanged from the previous two years and will be exempt from Swiss federal withholding tax for all shareholders and exempt from income tax for shareholders resident in Switzerland who hold the shares as part of their private assets. The dividend is payable on April 24, 2013, record date on April 23, 2013 and ex-dividend date on April 19, 2013. The company's shareholders elected Tanja Weiher as a new member of the Board of Directors.

GAM Holding AG announced that as communicated on 16 January 2013, at the upcoming AGM on 17 April 2013 Johannes A. de Gier will stand for re-election retaining solely his position as Chairman. David M. Solo, who currently serves as the Chief Executive Officer of the Group's two operating businesses, will then assume the newly created role of Group Chief Executive Officer, reflecting the move towards a more integrated Group structure. At the same time, the Executive Board of GAM Holding AG will become a Group Management Board and its membership expanded to include core operations and distribution functions. The designated new members have all served in senior positions within the Group's operating businesses for several years. As of 18 April 2013, the Group Management Board will be comprised as follows: David M. Solo as Group Chief Executive Officer; Marco Suter as Group Chief Financial Officer, with responsibility for risk; Scott Sullivan as Group General Counsel; Craig Wallis as Global Distribution and Marketing; Michele Porro as Distribution Swiss & Global Asset Management / Region Head CH; Andrew Hanges as Operations GAM / Region Head UK; Martin Jufer as Operations Swiss & Global Asset Management, new  appointments as of 18 April 2013, subject to FINMA approval.

GAM Holding AG reported consolidated earnings results for the full year ended December 31, 2012. For the year, operating income was CHF 594.1 million against CHF 598.5 million a year ago. Profit before tax was CHF 119.7 million against loss before tax of CHF 46.7 million a year ago. Net profit attributable to the shareholders of the company was CHF 86.7 million or CHF 0.51 basic and diluted per share against net loss attributable to the shareholders of the company of CHF 95.0 million or CHF 0.52 basic and diluted per share a year ago. Cash flow from operating activities was CHF 152.5 million against CHF 118.6 million a year ago. Purchase of property, equipment and intangible assets was CHF 3.7 million against CHF 14.4 million a year ago. Net fee and commission income was CHF 578.9 million against CHF 553.7 million a year ago. Return on tangible equity was 27.7% against 22.8% a year ago. Underlying profit before taxes was CHF 195.5 million against CHF 214.0 million a year ago. Underlying net profit was CHF 162.0 million against CHF 165.7 million a year ago. Book value per share was CHF 3.53 compared to CHF 4.10 at the end of 2011. At the upcoming Annual General Meeting (AGM) on April 17, 2013, the Board of Directors will recommend a dividend payment of CHF 0.50 per share for the financial year 2012, the same level as paid for the previous financial year. The dividend is payable on Apr 24, 2013 for the holders of record date on Apr 23, 2013 and ex-dividend date is Apr 19, 2013.