Jean Frey wants to save employees losses
The Jean Frey publishing house is buying back warrants from its employees that were issued in connection with the change of ownership in 2002.
The publishing house Jean Frey is buying back warrants from its employees, as reported by the Tages-Anzeiger. This is intended to protect employees from losses. In 2002, 200,000 warrants were issued by Swissfirst Bank on the occasion of the change of ownership. Almost 50 employees had bought such warrants. Jean Frey wants to buy back the warrants, which were issued at CHF 6.50 at the time, for CHF 7. This was announced by Swissfirst at the request of the Tages-Anzeiger. Buyers are also free to purchase shares at the exercise price of 55 francs. However, according to TA, observers fear that the price could fall in the tight market if the warrants are actually converted and the shares sold immediately.
