Art. 117 Fees for the review of a takeover offer
(Art. 126 para. 5 FinMIA) 1 The Swiss Takeover Board shall levy a fee for reviewing the takeover offer whenever such an offer is made by any party. 2 The fee is calculated as a proportion of the value of the transaction:
3 The fee shall amount to at least CHF 50,000 and a maximum of CHF 250,000. In special cases, the fee may be reduced or increased by up to 50% depending on the scope and complexity of the transaction in question. 4 If securities listed on the stock exchange are offered for exchange, the total amount of the offer shall be ascertained on the basis of the volume-weighted average closing price over the last 60 trading days prior to submission of the offer, or prior to the offer being reported to the Swiss Takeover Board. For illiquid or unlisted securities, the fee shall be ascertained on the basis of the auditor's valuation. 5 In special cases, in particular if the target company or a qualified shareholder causes the Swiss Takeover Board an unusual amount of work, the Swiss Takeover Board may also require the target company or the qualified shareholder to pay a fee. This shall amount to at least CHF 20,000, but no more than the fee payable by the offeror. |