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Julius Baer Proposes To Split 2019 Distribution; Postpones AGM To May 18

Julius Baer Group Ltd. (JBARF.PK) announced that it has proposed to split 2019 distribution of CHF 1.50 per share into two payments following a request by the Swiss Financial Market Supervisory Authority FINMA.

Julius Baer also decided to postpone its Ordinary Annual General Meeting to May 18, 2020 in order to facilitate a vote by shareholders on the amended proposal, and to hold an Extraordinary General Meeting in November.

The company noted that first distribution of CHF 0.75 will be made on May 25, subject to shareholder approval at the AGM. The company plans to propose a second distribution of CHF 0.75 per share for approval at an EGM to be held by mid-November at the latest.

All other agenda items proposed for resolution at the AGM originally scheduled for April 16 will again be put to a vote by the shareholders on the new date.

Romeo Lacher, Chairman of the Board of Directors, said, "Julius Baer is adhering to this request from FINMA despite our continued strong capital, funding and liquidity position, which would have comfortably allowed us to pay the initially proposed dividend, and despite our strong performance in the first quarter of 2020."

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