Bank J. Safra Sarasin AG

EANS-Adhoc: Bank Sarasin + Cie AG
Independent Board Members to resign

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this

At the request of the independent Board Members and Rabobank, the Board of
Directors of Bank Sarasin & Co. Ltd has decided to convene an Extraordinary
General Meeting to be held as soon as the acquisition of Rabobank's shares by
Safra Group is closed. At this meeting a new Board will be appointed which can
assume responsibility for the Bank.

The independent Board Members Christoph Ammann, Chairman of the Board of
Directors, and Peter Derendinger, member of the Board of Directors, will resign
on the date of the closing, which is expected in July 2012. The remaining
Members of the Board of Directors will then be the two representatives of
Rabobank, Sipko N. Schat and Pim W. Mol, as well as Hans-Rudolf Hufschmid and
Dagmar G. Woehrl. 

The Board of Directors will convene an Extraordinary General Meeting as soon as
the transaction is approved by FINMA, the Swiss financial market supervisory
authority. This should permit an immediate transfer of responsibility to a new
Board of Directors, to be appointed at this EGM, thus ensuring that Sarasin's
supervisory body can continue to function effectively in a very difficult market

At the beginning of the takeover process, the Board of Directors set up a
committee of independent Board Members (Independent Directors Committee, IDC) to
represent the interests of the bank and its public shareholders. The Committee
has endeavoured to ensure that all shareholders are treated equally and to
accelerate the takeover process. In the months since the transaction was
announced (November 2011), the IDC has found its ability to act increasingly
constrained and it can no longer fulfil its tasks. Consequently, the Committee
will disband itself on the date of closing and transfer this task to the new
Board of Directors.

For more information please contact:
Benedikt Gratzl  |  Media Relations
T: +41 (0)61 277 70 88  |  e-mail: 

Franziska Gumpfer-Keller  |  Media Relations
T: +41 (0)44 213 97 35  |  e-mail:

Further inquiry note:
Dr. Benedikt Gratzl
Head of Corporate Communications
T: +41(61) 277 70 88

end of announcement                               euro adhoc 

issuer:      Bank Sarasin + Cie AG
             Elisabethenstrasse 62
             CH-4002 Basel
phone:       +41 (61) 277 77 77
FAX:         +41 (61) 272 02 05
sector:      Banking
ISIN:        CH0038389307
indexes:     SPIEX, SPI ex SLI
stockmarkets: official dealing/general standard: SIX Swiss Exchange 
language:   English

Weitere Meldungen: Bank J. Safra Sarasin AG

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