ZURICH, Switzerland, Sept. 3, 2019 /CNW/ - Credit Suisse Funds AG ("Credit Suisse Funds") announces that it acquired 62,000 common shares ("Common Shares") in the capital of Kuuhubb Inc. (TSXV: "KUU") (the "Issuer") on August 27, 2019, which represents approximately 0.11% of the issued and outstanding Common Shares of the Issuer. The average price per share for the recently acquired Common Shares was CAD$0.5323 for an aggregate total purchase consideration of CAD$ 33,000. Immediately following the acquisition, Credit Suisse Funds held 5,605,000 Common Shares of the Issuer, which represents approximately 10.05% of the issued and outstanding Common Shares of the Issuer.
Prior to the recent acquisition, Credit Suisse Funds held 5,543,000 Common Shares of the Issuer, representing approximately 9.94% of the issued and outstanding Common Shares of the Issuer.
The head office of the Issuer is at 25 Adelaide Street East, Suite 1417, Toronto, Ontario, M5C 3A1, Canada.
Credit Suisse Funds acquired the 5,605,000 Common Shares through the TSX Venture Exchange for investment purposes in the normal course of its business and not with the purpose of influencing the control or direction of the Issuer. Credit Suisse Funds holds the Common Shares on behalf of the contractual funds (collective investment schemes) for which it acts as fund management company. Additionally, the decision on whether/how to vote the Common Shares is made solely by Credit Suisse Funds (i.e., there is no influence from, nor any solicitation of the voting preferences of, third parties). Credit Suisse Funds may in the future, subject to market conditions, make additional investments in or dispositions of the Issuer's securities for investment purposes. However, Credit Suisse Funds does not intend to acquire 20% or more of the outstanding securities of the Issuer.
This news release is issued by Credit Suisse Funds pursuant to National Instrument 62‐104 Take‐Over Bids and Issuer Bids. Credit Suisse Funds will file a report in respect of this acquisition with the applicable securities commission or securities regulator in each Canadian jurisdiction in which the Issuer is a reporting issuer. A copy of the report may be obtained from Gabriele Wyss, +41 44 333 42 74.
Credit Suisse Funds AG
Uetlibergstrasse 231, 8045 Zürich
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 46,360 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Copyright © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
SOURCE Credit Suisse Funds AG
For further information: Press Contact: Karina Byrne, Credit Suisse AG, telephone +1 212 538 8361, [email protected]