• Fuel Surcharge waiver of up to Rs. 200/- every month
• 1+1 on movie tickets through BookMyShow.com, once every month (Monday to Friday)
• Shop for electronics, gadgets and much more on easy EMIs
• Interest-free cash withdrawal from ATMs for 50 days against a nominal convenience fee
• Convert the cash limit on the card to an interest-free instant personal loan of 90 days

• Offers instant loans up to Rs 60,000 for its users without any paperwork
• First wallet player to disburse loan amount in a mobile wallet
• Product designed to boost customer capability to meet his aspirations and needs

• Select Boost on the MobiKwik App
• Activate Boost for instant loan
• Insert PAN and other KYC details to view loan offer
• Accept loan offer and get instant disbursal

IDEMIA, the global leader in Augmented Identity, has been awarded “Innovation Partner of the Year” by Westpac, Australia’s market leader in point of sale consumer and commercial finance.

At Westpac’s supplier dinner in presence of its core suppliers from various industries, IDEMIA received an Innovation award, in recognition for the success that the PayWear product has achieved since it was launched in late 2017.

Locally designed and developed by IDEMIA in Australia in close collaboration with Westpac, the Westpac PayWear is part of a new generation of payment wearables, made for everyday life. The device is waterproof, does not require recharging and is durable enough to be worn every day.

The success of PayWear in the Australian market is in keeping with the immense popularity of contactless payments, with over 85% of payments occurring over contactless interfaces, whether by card, mobile phone or the new wave of wearables.

The PayWear accessory includes a new card (similar to a mobile phone SIM card), a wristband and a “keeper”, a silicone pocket that can be attached to most watches or activity trackers. To pay, the customer simply taps the accessory wherever contactless payments are accepted and the transaction will be debited from their everyday bank account.

Using the same contactless technology as customer’s existing debit or credit card, Westpac PayWear means that customers can make purchases without the need for a wallet or a phone. In that respect, combined with the current Transport for NSW open-loop payments trial, a Westpac customer could pay to ride the ferry from the Sydney central business district to Manly, go for a swim at the beach and buy lunch afterwards… without even needing to carry a wallet!

Vincent Mouret, Vice-President for Financial Institutions in APAC at IDEMIA explained: “This new type of payment wearable fits really well with the Australian lifestyle, where people look for both convenience and security. The ability to pay for a coffee or breakfast after a surf session, a workout or a bike ride is appealing to a broad section of the local community, and so far the feedback has been fantastic. We are confident that this Westpac partnership will keep growing and meet new client needs in the future.”

IDEMIA has supplied and supported Westpac with the PayWear Contactless Chip along with wristbands, keepers and packaging. The wearable product is in addition to the supply of cards for Westpac, which IDEMIA has performed since 2013.

About IDEMIA

OT-Morpho is now IDEMIA, the global leader in trusted identities for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment.

Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Security and IoT sectors.

With close to €3bn in revenues, IDEMIA is the result of the coming together of OT (Oberthur Technologies) and Safran Identity & Security (Morpho). This new company counts 14,000 employees of more than 80 nationalities and serves clients in 180 countries.

For more information, visit www.idemia.com / Follow @IdemiaGroup on Twitter

View source version on businesswire.com: https://www.businesswire.com/news/home/20181002005443/en/

International law firm Dorsey & Whitney LLP announced that David Cameron has joined the Firm’s Corporate Group in Hong Kong as a Partner.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181002005918/en/

David Cameron has joined Dorsey & Whitney’s Corporate Group in Hong Kong as a Partner. Mr. Cameron’s practice focuses on international capital markets work. (Photo: Dorsey & Whitney LLP)

Mr. Cameron’s practice focuses on international capital markets work. He specializes in representing and advising corporate and investment banking clients on debt and equity offerings pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, including high-yield, investment grade, private placements, block trades and medium-term note programs for issuers across Asia. Mr. Cameron also has extensive experience with green bonds and Masala bonds. His recent work before joining Dorsey has included advising on the State Bank of India’s Section 4(a)(2) equity offering of US$2.3 billion, the largest-ever Qualified Institutions Placement out of India to date, JSW Steel’s US$500 million high-yield bond offering, CK Hutchison Holdings’ US$1.8 billion dual tranche Rule 144A senior note offering and Sri Lanka’s sovereign US$1.5 billion Rule 144A senior note offering.

He joins Dorsey from Allen & Overy, where he was counsel in that firm’s Capital Markets practice in Hong Kong. Before joining Allen & Overy in 2016, he was an associate for over seven years in the Capital Markets practice in the Hong Kong office of Linklaters. Mr. Cameron is a Registered Foreign Lawyer in Hong Kong and admitted to practice in the State of New York.

Mr. Cameron has a B.A. degree from Georgetown University, an M.A. degree in International Studies from The Lauder Institute at the University of Pennsylvania, an M.B.A. degree in Finance from The Wharton School at the University of Pennsylvania and a J.D. degree from the University of Pennsylvania Law School.

“David Cameron is a superb capital markets lawyer with extensive experience and deep expertise in multi-jurisdictional debt and equity transactions, especially those emanating across Asia. He will be a terrific addition to our strong capital markets practice in Hong Kong,” noted Dorsey Partner Simon Chan, who heads the Firm’s Hong Kong office. “Also, his practice and clients will benefit from Dorsey’s collaborative culture and its client service-focused mission.”

“We are delighted to have David join us in Hong Kong,” added Dorsey Managing Partner Ken Cutler. “He is another example of the key, strategic hiring we are continuing to do to build our depth and breadth across our practices and in our offices in Asia, Europe and North America.”

“I am extremely pleased to be joining Dorsey and its world-class team of corporate and capital markets lawyers,” noted Mr. Cameron. “I look forward to serving Dorsey’s exceptional client base and to utilizing the Dorsey platform to provide quality and value to future clients.”

About Dorsey & Whitney LLP
Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful companies from a wide range of industries, including leaders in banking and financial institutions, development and infrastructure, energy and natural resources, food, beverage and agribusiness, healthcare and technology, as well as major non-profit and government entities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181002005918/en/

Moody’s Analytics, a global provider of financial intelligence, has won four categories in the 2018 Asia Risk Technology Rankings. Building on last year’s three-win performance by Moody’s Analytics, the company topped the IFRS 9, Asset & Liability Management, Regulatory Capital Calculation and Management, and Economic Capital Calculation and Management categories in this year’s annual rankings.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181002005841/en/

For the second year in a row, readers of Asia Risk selected Moody’s Analytics for the top spot in the IFRS 9 category. This recognition reflects the company’s ability in helping clients prepare to comply with the new accounting standard. Whether firms need better data, new forward-looking models, economic forecasting, end-to-end process management tools, advisory services, or a combination of all these elements, Moody’s Analytics can tailor solutions to meet our clients’ unique business needs.

Asia Risk readers, also ranked Moody’s Analytics first in the Asset & Liability Management (ALM) category on the strength of the Moody’s Analytics RiskConfidence™ solution. The award-winning solution offers integrated enterprise ALM, funds transfer pricing (FTP), liquidity risk management, and business and regulatory reporting. This is all presented in a single unified solution with a common data source and a single engine strategy.

The RiskAuthority™ platform earned Moody’s Analytics first place in the Regulatory Capital Calculation and Management category. Banks use RiskAuthority software to calculate, consolidate, and report on credit, market, operational, concentration, and liquidity risk. Banks also rely on RiskAuthority software to calculate capital, leverage, and liquidity ratios quickly and accurately in order to meet Basel directives and national regulatory requirements.

Moody’s Analytics RiskFrontier™ software secured the top spot for Economic Capital Calculation and Management with its portfolio management reporting capabilities. Financial institutions globally use RiskFrontier for portfolio management, valuation, capital optimization, risk-based pricing, and performance management. It enables users to determine the appropriate level of economic capital, and allows for granular analysis of a portfolio’s credit risk drivers.

“We are delighted to be recognized again as a leading provider of risk and capital management solutions by the readers of Asia Risk,” said Shailendra Jain, General Manager at Moody’s Analytics. “We continue to work closely with our clients across the Asia-Pacific region to deliver award-winning solutions that support their risk management and regulatory reporting requirements.”

These wins add to the growing list of industry awards won by Moody’s Analytics.

During the past year, Chartis Research has named Moody’s Analytics a category leader among 12 balance sheet management vendors, as well as a category leader among 15 IFRS 9 solution vendors.

Click here for more information about the 2018 Asia Risk Technology Rankings.

About Moody’s Analytics

Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.

Moody's Analytics is a subsidiary of Moody's Corporation (NYSE:MCO). Moody’s Corporation reported revenue of $4.2 billion in 2017, employs approximately 12,300 people worldwide and maintains a presence in 42 countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181002005841/en/

DirectorInsight, a leading provider of corporate governance analytics and solutions, is delighted to announce that the company will now operate under the new brand name CGLytics. Short for Corporate Governance Analytics, this rebrand elevates the focus on providing powerful, data-driven solutions to board members and institutional investors, allowing for better engagement, decision-making and stewardship.

CGLytics is an Environmental, Social & Governance (ESG) SaaS solution provider that specializes in the corporate governance space. The technology provides an integrated cloud-based, data-fueled solution, to independently analyze information on the value creation and governance practices of leading listed companies across the globe.

Over the past few years, the business has expanded and developed new capabilities across all spectrums of corporate governance analytics software, while continuing to embrace a customer-centric approach in its everyday operations. This is the latest chapter in what has been a year full of achievements, including formalizing partnerships with leading governance service providers and investors that leverage CGLytics’ vast compensation analysis and tools for their global client base and engagement work.

Founder and CEO Aniel Mahabier, upon announcing the corporate rebrand, said:

“This rebrand signifies a milestone within our organization and is a testament to the work we have done and our vision toward the future. By changing the company’s name and logo, we are better representing the unmatched solutions we bring to corporations, their board members and investors across the globe.”

CGLytics is focused exclusively on providing consistent, comprehensive, real-time data, smart analytics, ratings and a suite of screening tools, including a powerful pay-for-performance review tool. The platform is powered by structured and comprehensive performance metrics, board information and executive compensation data. The company deploys machine learning and artificial intelligence to create powerful governance workflow efficiencies.

Interested parties can learn more about CGLytics on the company website: https://cglytics.com/

About CGLytics
CGLytics is the brand under which AMA Partners B.V. (Chamber of Commerce: 54985242) operates and provides services. CGLytics provides data analytics and intelligence on the “G” of Environmental, Social & Governance (ESG). Our solutions are designed to help corporations, institutional investors, financial institutions and professional services firms to efficiently and effectively manage the increasing challenges they face in reviewing and addressing corporate governance risks and associated decision-making. CGLytics provides an integrated cloud-based, data technology solution, to independently analyze data on the value creation and governance practices of leading listed companies across the globe, in a single convenient solution.CGLytics is a signatory to the UNPRI. Follow CGLytics on Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181004005718/en/

OTCXN, a blockchain-powered capital markets infrastructure company, announced that it has signed Kingdom Trust to serve as a neutral, third-party custodian of assets for trading entities and exchanges that use OTCXN technology to facilitate clearing and settlement of OTC block trades and cross-exchange trading. Kingdom Trust is the first regulated financial institution to offer qualified custody for digital asset investments like Bitcoin and Ethereum, with more than $12 billion in custody.

The biggest problem for institutions in the cryptocurrency space prior to OTCXN’s launch has been the lack of a clearing and settlement solution that eliminates trading counterparty and settlement risk while connecting all global liquidity providers and exchanges. OTCXN’s multi-custodian solution solves this problem and delivers global liquidity access with a single account at the preferred custodian of a trading desk or exchange. Kingdom Trust will play a key role in supporting the expansion of the OTCXN network by providing clients with safe and capital efficient access to this global liquidity through OTCXN’s market leading trading platforms.

“We are extremely pleased to have Kingdom Trust on board and using OTCXN’s Custodian Desk platform to support our mutual institutional clients that trade digital assets such as cryptocurrencies over OTCXN’s unique network. Kingdom Trust is one of only a few regulated US entities that offers stand-alone custody services in both Fiat and Cryptocurrencies. They stand out for their integrity, experience, state-of-the-art infrastructure and client asset protection,” stated Rosario M. Ingargiola, CEO and Founder of OTCXN.

Kingdom Trust is an independent qualified custodian with a decade of experience in the alternative asset space. As a regulated trust company, Kingdom Trust offers a regulatory compliant environment, including AML/KYC, for both domestic and international clients. Kingdom Trust takes a holistic risk management approach to its assets, combining robust segregation of responsibilities with cold storage, backed by insurance for assets held.

“By partnering with OTCXN, Kingdom Trust will be able to offer its clients the best of both worlds, i.e., the ability to 'trade hot, store cold.' The OTCXN platform, its network, and partners will offer the power of rapid liquidity to clients and markets where that has been in short supply. The combined solution leverages technology to eliminate counterparty and settlement risk, delivering benefits for all participants in the ecosystem. We are excited to play a role in this transformative approach,” said Matt Jennings, CEO of Kingdom Trust.

Unique Solutions for Custodians

OTCXN provides custodians with a proprietary blockchain-based solution for trading cryptocurrencies and other assets without counterparty and settlement risk. The solution allows custodians, at their clients’ request, to create blockchain ledger entries backed by their assets to the OTCXN platform. Once the assets are digitally reflected on the OTCXN network, they can be freely traded with any other counterparty on the network. The solution provides continuous net settlement reporting, with point-in-time snapshot features and workflow tools to support periodic net settlement movements between custodial accounts.

Unique Solutions for Institutional Trading Desks and Exchanges

Clients will access Trade Desk with an OTC Block Trading platform, which allows for institutional RFQ-based trading with any other counterparty on the network, all of whom have cleared applicable AML/KYC requirements. Trades on OTCXN execute as an atomic exchange of provable assets on the custodial blockchain ledgers in real-time, for instant clearing and settlement, with underlying assets held at the custodian, and crypto assets remaining in cold or deep cold storage. This approach to trading crypto assets that remain in cold storage, besides exponentially increasing transaction speeds, also minimizes information leakage for large OTC trades that would otherwise get recorded on the public Blockchain on a trade-by-trade basis.

Later this year, OTCXN will be launching its high-performance matching engine, LiquiMatch, as both a Dark Pool and Central Limit Order Book-style exchange for cryptocurrencies. Clients of custodians on the network will be able to access liquidity across all OTCXN trading platforms via a single account. In addition to handling native orders, LiquiMatch aggregates external exchange liquidity that is tradable without placing assets at the underlying exchanges.

OTCXN will also be introducing support for custom settlement times such as end-of-day or T+1 to support the needs of some of the largest liquidity providers. Additionally, OTCXN will be opening up its network to third-party credit and collateral providers that can provide leverage financing for institutional traders' positions, both long and short, through the provision of margin loans, coin repos, and other financial products.

OTCXN’s Solution Scales Crypto Markets

The OTCXN solution has strong appeal to custodians that hold crypto assets for institutional clients because the cryptocurrency is always held in deep, cold storage, rather than being held at an exchange or being in flight, as it is when traded over-the-counter. The OTCXN approach significantly increases safety for institutional clients and reduces administrative overhead for custodians with clients engaged in active trading. An immutable record of all transactions on a proprietary blockchain layer brings transparency and provability to facilitate the audit, fund administration and regulatory requirements of institutional clients.

“What we have created is an institutional-grade Layer 2 network, like Lightning Network, except that it operates across all crypto assets and at institutional scale and capacity,” says Ingargiola. “You simply cannot scale the crypto markets to institutional levels without removing public ledger transactions from the real-time trading critical path. OTC trades between counterparties on opposite ends of the globe are done, cleared and settled in less than a second – 1,000’s of times faster than any other platform and without any initiator risk,” said Ingargiola.

“Current crypto exchanges are true islands of liquidity that OTCXN bridges for the first time by facilitating cross-exchange trading, clearing and settlement via a single account at a custodian on the network. The technology that makes this possible eliminates holding assets at each underlying exchange, removing counterparty risks and capital inefficiencies that represent barriers to institutional adoption, as well as scaling institutional trading volumes,” added Ingargiola.

Any exchange can join the OTCXN network by placing a portion of client assets at a custodian such as Kingdom Trust.

OTCXN previously announced that it had completed the world’s first live trades of digitized US dollars for digitized Bitcoin, which cleared and settled instantly as an atomic exchange of assets with no initiator risk to either party, and where the underlying assets were held by a third-party, neutral custodian.

About OTCXN

OTCXN is a capital markets infrastructure company using asset digitization, proprietary blockchain technology, real-time collateral management and an array of institutional trading platforms to organize global liquidity and make it tradable via a single account at a custodian on the network. OTCXN has developed the first technology platform that eliminates counterparty and settlement risk without the use of balance sheet and credit, and without becoming a counterparty to transactions. For more information, visit www.otcxn.com and @OTCXN.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181009005329/en/

1. Finance Access /Affordable Finance
2. New Business Streams/New Business Development
3. Streamlining Business Processes / Documentation
4. Optimizing Profitability
5. Accessing Talented Manpower

Snapdeal's Mega Diwali Sale goes live

• 49” Full HD LED TV at 50% discount | Treadmills at 60% discount
• 50% off on Godrej Safes | 10-20% off on Cleartrip, MakeMyTrip e-Gift Cards

• The top selling items from the first 10 hours of Snapdeal’s sale are headphones, beard trimmers, speakers and memory cards in the electronics category.
• Water purifiers, bed linen and kitchen gadgets also clocked maximum sales in the initial hours of the sale.
• A large number of buyers were observed utilizing both the 15% card-based discounts and the promo code at checkout.

IDEMIA, the global leader in Augmented Identity, announces its partnership with JCB, the only international payment brand based in Japan, to launch Google Pay in Japan.

Users will be able to make contactless mobile payments in store using their JCB branded credit, debit, and prepaid cards enrolled in their Google Pay, at places such as convenience stores, supermarkets, drug stores and other shops where QUICPay is accepted.

To enable Google Pay for JCB cardholders, JCB leverages an agnostic and scalable payment card tokenization and digitization infrastructure, the JCB Tokenization Platform (JTP). It relies on IDEMIA’s field-proven digital payment solution. It allows not only JCB, but also its issuing and processing partners to integrate with Google Pay and offer real-time enrolment, provisioning and tokenization capabilities. Users in Japan can, therefore, add their JCB cards in the Google Pay app on their Osaifu Keitai-compatible phones equipped with Android 5.0 or higher version.

We are delighted to be able to provide our customers with the ability to use Google Pay by leveraging QUICPay’s wide acceptance network in Japan.” said Masaki Yokawa, Executive Vice-President for Brand Business at JCB. “We believe the service will enhance the convenience and experience for JCB card members with the simple and intuitive user interface. JTP plays an integral part for making this happen, and we are proud to have worked with IDEMIA, who has a proven track record in this area, in order to add the Google Pay capability to the platform.”

Nobuyoshi NEZU, Representative director at IDEMIA Japan declared: "We are proud to have worked together with JCB in the deployment of Google Pay in Japan. This represents another milestone in our long-term partnership. IDEMIA is the mobile payment enablement partner of choice for JCB, by offering IDEMIA’s field-proven Digital Enablement Platform. IDEMIA’s technology and services are deployed at scale with tens of millions of cards digitized so far across the world.”

For more information about Google Pay, visit https://pay.google.com/about/ or get the Google Pay app

• Google Pay and Google are trademarks of Google LLC.
• QUICPay is the contactless payment product developed by JCB for the Japanese market. QUICPay is a registered trademark of JCB for its contactless payment solution.
• Osaifu-Keitai is the Standard mobile payment system, only available to subscribers in Japan. Osaifu Keitai is a trademark of NTT DOCOMO, INC.
   

About JCB
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

About IDEMIA
OT-Morpho is now IDEMIA, the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
OT (Oberthur Technologies) and Safran Identity & Security (Morpho) have joined forces to form IDEMIA. With close to $3 billion in revenues and 14,000 employees around the world, IDEMIA serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IdemiaGroup on Twitter

View source version on businesswire.com: https://www.businesswire.com/news/home/20181009005684/en/

JPMorgan Chase Bank, N.A. (the “Offeror”) today announces an offer to purchase (the “Offer”) to holders (the “Bondholders”) of its USD 350,000,000 zero coupon cash settled exchangeable bonds due 2021 (XS1748457352), of which USD 350,000,000 in aggregate principal amount is currently outstanding (the “Bonds”) on the terms described in this Press Release.

The Offeror is offering to purchase any and all of the Bonds for cash at the purchase price of USD 185,000 per USD 200,000 in principal amount of the Bonds validly tendered by Bondholders pursuant to the Offer.

J.P. Morgan Securities plc is acting as Dealer Manager and The Bank of New York Mellon, London Branch is acting as Tender Agent, each in relation to the Offer.

Timetable for the Offer

The timetable for the Offer is set out below:

Bondholders are advised to check with any bank, securities broker or other intermediary (including any Direct Participant of a Clearing System) through which they hold their Bonds as to the deadline by which such intermediary would require receipt of instructions to participate in, or withdraw their Tender Instructions to participate in, the Offer to meet the deadline set out above.

The deadline set by any such intermediary (including any Direct Participant of the Clearing Systems) is likely to be earlier than the deadline specified above.

The Offeror expressly reserves the right, in its sole discretion and subject to applicable law, at any time, to (i) extend the Expiration Deadline, (ii) retain the Bonds successfully tendered by Bondholders pursuant to the Offer and (iii) amend the other terms of the Offer in any respect. Any amendment applicable to the Offer will apply to all Bonds tendered pursuant to the Offer. If the Offeror makes a material change in the terms of an Offer or the information concerning the Offer, it will disseminate additional disclosure materials and extend the Offer to the extent required by law.

Participating in the Offer

Only Direct Participants can submit Tender Instructions. Bondholders who intend to participate in the Offer and who are Direct Participants of a Clearing System must take the actions set out below directly. Bondholders who want to participate in the Offer and who are not Direct Participants of a Clearing System must submit Tender Instructions by instructing the bank, custodian or intermediary through which they hold the Bonds. Any costs or expenses incurred by a bank, custodian or intermediary submitting Tender Instructions will be borne by the relevant Bondholder. A “Direct Participant” is a person shown in the records of the relevant Clearing System as a holder of the Bonds.

Instructions to tender Bonds pursuant to the Offer (“Tender Instructions”) should be sent to the relevant Clearing System in accordance with the usual procedures of such Clearing System. The tendering of Bonds in the Offer will be deemed to have occurred upon receipt by the Tender Agent from the relevant Clearing System of a valid Tender Instruction submitted in accordance with the requirements of such Clearing System. The receipt of such Tender Instruction by the relevant Clearing System will be acknowledged in accordance with the standard practices of such Clearing System and will result in the blocking of the relevant Bonds in the Bondholder’s account with the relevant Clearing System so that no transfers may be effected in relation to such Bonds.

Tender Instructions are irrevocable upon submission except in the limited circumstances described in “General Conditions of the Offer”.

New Bond Offering

The Offeror also announced today the launch of an offering of cash-settled exchangeable bonds due 2021 (the “New Bonds”) in minimum aggregate principal amount of USD 150,000,000. The New Bonds are referable to ordinary shares of Dufry AG. Exchange rights in respect of the New Bonds will be cash-settled only.

Contact Details

Requests for information in relation to the terms of the Offer should be directed to:

J.P. Morgan Securities plc
25 Bank Street
Canary Wharf
London E14 5JP
United Kingdom

Attention: J.P. Morgan equity-linked team
Telephone: +44 207 134 2650
Email: Eql_LM@jpmorgan.com

Requests for information in relation to the procedures for participating in the Offer should be directed to:

The Bank of New York Mellon, London Branch

One Canada Square
London E14 5AL
United Kingdom
Attention: Debt Restructuring Services
Telephone: +44 (0) 1202 689644
Email: debtrestructuring@bnymellon.com

Inside Information

This press release relates to the disclosure of information that qualified, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulations.

GENERAL CONDITIONS OF THE OFFER

OFFER RESTRICTIONS

This Press Release does not constitute an Offer to purchase Bonds in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such an offer under applicable securities laws. The distribution of this Press Release in certain jurisdictions may be restricted by law. Persons into whose possession this Press Release comes are required by each of the Offeror, the Tender Agent and the Dealer Manager to inform themselves about, and to observe, any such restrictions.

United Kingdom

The communication of this Press Release by the Offeror and any other documents or materials relating to the Offer is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may only be communicated to (1) persons who have professional experience in matters relating to investments, being investment professionals as defined in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”); (2) persons who fall within Article 43(2) of the FPO; or (3) any other persons to whom these documents and/or materials may lawfully be communicated. Any investment or investment activity to which this Press Release relates is available only to such persons or will be engaged in only with such persons and other persons should not rely on it.

France

The Offer is not being made, directly or indirectly, to the public in the Republic of France (“France”). Neither this Press Release nor any other document or material relating to the Offer has been or shall be distributed to the public in France and only: (i) providers of investment services relating to portfolio management for the account of third parties (personnes fournissant le service d’investissement de gestion de portefeuille pour compte de tiers); and/or (ii) qualified investors (investisseurs qualifiés), acting for their own account, all as defined in, and in accordance with, Articles L.411-1, L.411-2 and D.411-1 of the French Code Monétaire et Financier are eligible to participate in the Offer. This Press Release has not been submitted for clearance to the Autorité des Marchés Financiers.

Italy

None of the Offer, this Press Release or any other documents or materials relating to the Offer have been submitted to the clearance procedures of the Commissione Nazionale per le Societa e la Borsa (CONSOB) pursuant to Italian laws and regulations. The Offer is being carried out in the Republic of Italy (“Italy”) as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the Financial Services Act) and article 35-bis, paragraph 3 of CONSOB Regulation No. 11971 of 14 May 1999, as amended.

Accordingly, the Offer is only addressed to holders of Bonds located in the Republic of Italy who are “qualified investors” (investitori qualificati) as defined pursuant to and within the meaning of Article 100 of the Financial Services Act and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended. Holders or beneficial owners of the Bonds may tender their Bonds pursuant to the Offer through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 16190 of 29 October 2007, as amended from time to time, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority. Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Bonds or the Offer.

Switzerland

Neither this Press Release nor any other offering or material relating to the Offer constitutes a prospectus as such term is understood pursuant to article 652a or article 1156 of the Swiss Federal Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange Ltd. Accordingly, the investor protection rules otherwise applicable to investors in Switzerland do not apply to the Offer. When in doubt, investors based in Switzerland are recommended to contact their legal, financial or tax adviser with respect to the Offer.

General

This Press Release does not constitute an offer to sell or buy or a solicitation of an offer to sell or buy the Bonds, as applicable (and any participation in the Offer will not be accepted from Bondholders) in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer and any of the Dealer Manager or its affiliates is such a licensed broker or dealer in such jurisdictions, the Offer shall be deemed to be made by the Dealer Manager or its affiliate (as the case may be) on behalf of the Offeror in such jurisdictions.

REPRESENTATIONS

By participating in the Offer, each Bondholder and any intermediary on such Bondholder’s behalf shall be deemed to agree, and acknowledge, represent, warrant and undertake to the Offeror, the Tender Agent and the Dealer Manager on the date of submission of the relevant Tender Instruction, the Expiration Deadline and the Settlement Date that:

IMPORTANT NOTICE

THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO CHANGE WITHOUT NOTICE AND SUBJECT TO CHANGE IN ITS ENTIRETY BY REFERENCE TO ANY FURTHER COMMUNICATION IN RESPECT OF THE OFFER. THIS PRESS RELEASE IS NOT AN OFFERING CIRCULAR OR PROSPECTUS OR LISTING PARTICULARS AND IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED, REDISTRIBUTED OR MADE AVAILABLE IN WHOLE OR IN PART TO ANY OTHER PERSON FOR ANY PURPOSE, WITHOUT THE PRIOR CONSENT OF THE DEALER MANAGER.

THIS PRESS RELEASE IS DIRECTED EXCLUSIVELY TO MARKET PROFESSIONALS AND INSTITUTIONAL INVESTORS AND IS FOR INFORMATION PURPOSES ONLY AND IS NOT TO BE RELIED UPON IN SUBSTITUTION FOR THE EXERCISE OF INDEPENDENT JUDGEMENT. IT IS NOT INTENDED AS INVESTMENT ADVICE AND UNDER NO CIRCUMSTANCES IS IT TO BE USED OR CONSIDERED AS AN OFFER TO BUY ANY BOND NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY BOND.

ANY DECISION RELATING TO A TENDER OF THE BONDS PURSUANT TO THE OFFER SHOULD ONLY BE MADE ON THE BASIS OF AN INDEPENDENT REVIEW BY YOU OF THE OFFEROR’S PUBLICLY AVAILABLE INFORMATION AND THE PUBLIC INFORMATION RELATING TO THE SHARES THE BONDS ARE REFERABLE TO. NONE OF THE DEALER MANAGER, THE TENDER AGENT NOR ANY OF THEIR RESPECTIVE AFFILIATES ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKE ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR THE OFFEROR’S PUBLICLY AVAILABLE INFORMATION OR THE PUBLIC INFORMATION RELATING TO THE SHARES THE BONDS ARE REFERABLE TO.

THE DEALER MANAGER IS ALSO THE JOINT BOOKRUNNER FOR THE NEW BOND OFFERING. THE DEALER MANAGER AND ITS SUBSIDIARIES AND AFFILIATES MAY PERFORM ADDITIONAL SERVICES FOR, OR SOLICIT BUSINESS FROM, THE OFFEROR OR MEMBERS OF THE OFFEROR’S GROUP, MAY MAKE MARKETS IN THE BONDS AND/OR THE SHARES THE BONDS ARE REFERABLE TO AND/OR HAVE A POSITION OR EFFECT TRANSACTIONS IN SUCH BONDS AND SUCH SHARES.

IN CONNECTION WITH THE OFFER, THE DEALER MANAGER OR ITS AFFILIATES MAY, FOR THEIR OWN ACCOUNT, ENTER INTO OR UNWIND ASSET SWAPS, CREDIT DERIVATIVES OR OTHER DERIVATIVE TRANSACTIONS RELATING TO THE BONDS AT THE SAME TIME AS THE OFFER OR IN SECONDARY MARKET TRANSACTIONS. THE DEALER MANAGER OR ANY OF ITS AFFILIATES MAY FROM TIME TO TIME HOLD LONG OR SHORT POSITIONS IN OR BUY AND SELL SUCH BONDS OR DERIVATIVES. NO DISCLOSURE WILL BE MADE OF ANY SUCH POSITIONS.

IN CONNECTION WITH THE OFFER, THE DEALER MANAGER AND ITS AFFILIATES, ACTING AS INVESTORS FOR THEIR OWN ACCOUNT, MAY SUBSCRIBE FOR SECURITIES OF THE OFFEROR OR DUFRY AG OR SELL THE BONDS OR ANY SHARES REFERABLE TO THE BONDS AND FOR SUCH REASON HOLD IN THEIR PORTFOLIOS, PURCHASE OR SELL SUCH BONDS OR ANY SECURITY OF THE OFFEROR OR DUFRY AG OR ANY RELATED INVESTMENT; FURTHERMORE, THEY MAY ALSO OFFER OR SELL SUCH SECURITIES OR MAKE INVESTMENTS OTHER THAN IN THE CONTEXT OF THE OFFER. THE DEALER MANAGER DOES NOT INTEND TO DISCLOSE THE AMOUNT OF SUCH INVESTMENTS OR TRANSACTIONS OTHER THAN TO THE EXTENT REQUIRED BY APPLICABLE LAWS AND REGULATIONS.

THE DEALER MANAGER AND THE TENDER AGENT ARE ACTING ON BEHALF OF THE OFFEROR AND NO ONE ELSE IN CONNECTION WITH THE OFFER AND WILL NOT BE RESPONSIBLE TO ANY OTHER PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE DEALER MANAGER OR THE TENDER AGENT, OR FOR PROVIDING ADVICE IN RELATION TO THE OFFER. NEITHER THE DEALER MANAGER NOR THE TENDER AGENT OWE ANY DUTY TO ANY HOLDER OF THE BONDS. NEITHER THE DEALER MANAGER, THE TENDER AGENT NOR ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, ADVISERS OR AGENTS ACCEPTS ANY RESPONSIBILITY OR LIABILITY WHATSOEVER FOR OR MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE TRUTH, ACCURACY OR COMPLETENESS OF THE INFORMATION IN THIS PRESS RELEASE (OR WHETHER ANY INFORMATION HAS BEEN OMITTED FROM THE PRESS RELEASE) OR ANY OTHER INFORMATION RELATING TO THE OFFEROR ITS SUBSIDIARIES OR ASSOCIATED COMPANIES, OR FOR ANY LOSS HOWSOEVER ARISING FROM ANY USE OF THIS PRESS RELEASE OR ITS CONTENTS OR OTHERWISE ARISING IN CONNECTION THEREWITH.

NO ACTION HAS BEEN TAKEN BY THE OFFEROR, THE TENDER AGENT, THE DEALER MANAGER OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD PERMIT THE POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY PUBLICITY MATERIAL RELATING TO THE OFFER IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE OFFEROR, THE TENDER AGENT AND THE DEALER MANAGER TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS.

A PROSPECTUS IS NOT REQUIRED TO BE PUBLISHED PURSUANT TO THE PROSPECTUS DIRECTIVE.

THIS OFFER TO PURCHASE DOES NOT CONSTITUTE AN INVITATION TO PARTICIPATE IN THE OFFER IN ANY JURISDICTION IN WHICH, OR TO ANY PERSON TO OR FROM WHOM, IT IS UNLAWFUL TO MAKE SUCH INVITATION OR FOR THERE TO BE SUCH PARTICIPATION UNDER APPLICABLE SECURITIES LAWS. THE DISTRIBUTION OF THIS OFFER TO PURCHASE IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. PERSONS INTO WHOSE POSSESSION THIS OFFER TO PURCHASE COMES ARE REQUIRED BY THE OFFEROR, THE DEALER MANAGER AND THE TENDER AGENT TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS.

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