Tender Offer for Bank Cler by Cantonal Bank of Basel

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On 2 August 2018, the Cantonal Bank of Basel, which already holds 77.52% of the share capital and the voting rights of Bank Cler Ltd., published the offer prospectus regarding its public tender offer for all publicly held bearer shares of SIX Swiss Exchange listed Bank Cler following the publication of a pre-announcement in June 2018. On the basis of the results of the fairness opinion of an independent expert, the board of directors of Bank Cler recommended to its shareholders to accept the offer at CHF 52 per share. Based on the indicative timetable the offer, if declared successful, is expected to be settled on 17 October 2018.

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