TRANSACTION SUMMARY

On 28 February 2012, GAM Holding announced that it entered into agreements for the purchase of 100% of Arkos Capital. Under the terms of the agreements, GAM will acquire 75% of Arkos’s share capital immediately after the receipt of certain regulatory approvals. The remaining stake of 25%, currently held by the management of Arkos, will be acquired through deferred cash payments linked to the future development of the business. The terms of the transaction were not disclosed.

ARKOS CAPITAL

Arkos Capital is an independent Swiss asset management firm. Arkos’s investment fund strategies were established in 2002 within Arner, a Lugano based private bank, and spun-off into the newly incorporated Arkos Capital SA in 2007. Arkos manages a range of low-volatility, liquid and transparent absolute return funds, both offshore and onshore. Its offering includes long/short equity strategies covering Europe and emerging markets, as well as a specialist offering focusing on financial securities and an active convertible bond strategy. As at year-end 2011, Arkos managed in excess of €530m of assets.

GAM HOLDING

Established in 1983, GAM Holding is an independent, active investment manager, delivering investment solutions to institutions, intermediaries, private clients and charities from offices in financial centres around the world. Its CHF50.7bn in assets under management (as at 30 June 2011) spans approximately 60 separate investment strategies across equity, fixed income, absolute return, funds of hedge funds, discretionary portfolio management and tailored investment solutions. GAM is listed on the SIX Swiss Exchange and is a component of the Swiss Market Index Mid (SMIM).

ROLE

SHP acted as financial adviser to Arkos Capital.