Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Friday 26 January, 2001


Equity Funding Completed

26 January 2001

               UBS finalizes equity funding for PaineWebber merger

Zurich/Base, 26 January 2001 - UBS has completed the equity funding for its
USD 11.8 billion (CHF 20.8 billion) merger with PaineWebber, with no further
requirement to issue shares. The integration of PaineWebber has proceeded very
smoothly and is now essentially complete: the final IT and operational changes
will be implemented in early February.

As announced at the completion of the merger, UBS chose to make an initial
issuance of 12 million new ordinary shares, and to re-issue 7 million shares
held in Treasury. The remaining 21.6 million ordinary shares needed for the
merger were borrowed in the market.

Through its Treasury share buy-back program, which started on 6 November 2000,
UBS has now repaid all the borrowed shares. No further new shares will be issued
in connection with the PaineWebber merger. UBS has met its commitment to
minimize the dilution of earnings and voting power, by keeping the final number
of new UBS shares issued as small as possible.

As at 24 January 2001, UBS had purchased 22.1 million shares through the
buyback program, at an average price of CHF 262. The program will continue for
the time being. Any further shares repurchased under the program will not be
cancelled, but will be used for Treasury management purposes, principally to
fund the Group's various employee share ownership plans. In order to ensure
maximum transparency and clarity for investors, UBS will continue to publish the
amount of Treasury shares repurchased every ten business days. Details can be
found on the investor Relations webste at

UBS is and intends to remain one of the best-capitalized financial institutions
in the world. UBS will, however, continue to avoid the build-up of excess
capital, through selectively investing in its own shares. Any shares bought for
capital reduction purposes would be repurchased under a separately announced,
'second-line' buy-back program aimed at institutional investors, allowing tax
efficient cancellation of the shares.


Previous media releases about the PaineWebber merger can be found on

   Cautionary statement regarding forward-looking statements
   This communication contains statements that constitute 'forward-looking
   statements', including, without limitation, statements relating to the
   implementation of strategic initiatives and other statements relating to our
   future business development and economic performance.

   While these forward-looking statements represent our judgements and future
   expectations concerning the development of our business, a
   number of risks, uncertainties and other important factors could cause
   actual developments and results to differ materially from our expectations.
   These factors include, but are not limited to. (1) general market,
   macro-economic, governmental and regulatory trends, (2) movements in local
   and international securities markets, currency exchange rates and interest
   rates, (3) competitive pressures, (4) technological developments, (5)
   changes in the financial position or credit worthiness of our customers,
   obligors and counterparties, (6) our ability to achieve the anticipated
   benefits of the merger with PaineWebber, and (7) other key factors that
   we have indicated could adversely affect our business and financial
   performance which are contained in our past and future filings and reports,
   including those with the SEC.
   More detailed information about those factors is set forth in documents
   furnished by UBS and filings made by UBS or PaineWebber with the SEC
   UBS is not under any obligation to (and expressly disclaims any such
   obligations to) update or alter its forward-looking statements whether as
   a result of new information, future events. or otherwise.


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