The shareholder pooling agreement of Vontobel Holding which is valid until 2012, has been extended by a further five years until 2017. The banks says that the early extension of the agreement underscores the long-term commitment of the Vontobel families and the Vontobel Foundation to ensuring the independence and autonomy of the Vontobel Group. The shareholder pooling agreement will continue to apply to 40 per cent of all issued shares and governs their disposal. "By extending the shareholder pooling agreement at an early stage, the Vontobel families are demonstrating their role as stable shareholders with a long-term focus. The next generations also regard the independence and family ownership of the Vontobel Group as a high priority. This means there is broad-based support for its business philosophy, which is geared towards sustained success," said Dr Hans Vontobel, honorary chairman of Vontobel Holding. Dr Hans-Dieter Vontobel, chairman of the Vontobel Foundation, which is a major shareholder of the Vontobel Group, added: "In the ongoing discussion about possible consolidations between private banks, the extension of the shareholder pooling agreement sends out a clear signal. The Vontobel families and the Vontobel Foundation believe that the group's positioning as an independent, family-owned company will remain a success factor and continue to distinguish it from its competitors in the future." The members of the shareholder pool Dr Hans Vontobel, Ruth de la Cour-Vontobel, Vontrust, the Vontobel Foundation, Pellegrinus Holding, Vontobel Holding and the pool of executive members are parties to the shareholder pooling agreement. As of 30 September 2007, 40 per cent of all issued shares were bound by the agreement. The members of the shareholder pool can freely dispose of any other shares they hold (approximately 14 per cent). The sale of pooled shares is subject to the prior approval of the members of the shareholder pool. If the members agree to the intended sale, they must be given the opportunity to purchase the shares. The number of shares they are entitled to purchase is proportional to the size of their shareholding. The parties to the shareholder pooling agreement exercise their rights jointly at the Annual General Meeting. The shareholder pooling agreement is valid until 31 December 2017 and will automatically be renewed for three years at a time.