News

24.06.2020 Share buyback via second trading line

Press Release

Zug, 24 June 2020

At the Ordinary Shareholders’ Meeting of Alpine Select Ltd. («Alpine Select», the «Company») held on 20 May 2020 shareholders authorized the board of directors to repurchase up to 10% of the total share capital in the period up to the ordinary shareholders’ meeting in 2022 for the purpose of subsequent cancellation by way of a capital reduction. The same shareholders’ meeting approved the reduction of the share capital from CHF 205,662.10 to CHF 185,159.40 through the cancellation of 1,025,135 registered shares of Alpine Select, which the Company had repurchased under previous share buyback programs. The implementation of the capital reduction is expected to be entered in the commercial register towards the end of July 2020.

The Board of Directors of Alpine Select has decided – based on the above-mentioned authorization resolution of the shareholders’ meeting – to launch a new share buyback program on a second trading. Based on the currently outstanding number of Alpine Select registered shares and taking into account the aforementioned capital reduction, a maximum of 925,797 registered shares will be repurchased. The maximum buyback volume per day is 3,271 registered shares (in accordance with Art. 123 para. 1 lit. c FinfraV). The actual number of shares bought back will be determined by the Company’s freely available liquidity on the one hand and by the supply on the second trading line on the other hand. Alpine Select retains the right to terminate the share buyback at any time and shall be under no obligation to repurchase its own shares under this share buyback program.

The share buyback notice will be published on 24 June 2020. Trading on the second trading line will commence on 26 June 2020 and shall continue until 31 May 2022 at the latest. After completion of the share buyback program, the board of directors will propose to the shareholders’ meeting a capital reduction by cancellation of all registered shares repurchased under this share buyback program. The transaction will be executed by Helvetische Bank AG, Zurich.

 

For further information, please contact Claudia Habermacher This email address is being protected from spambots. You need JavaScript enabled to view it. or visit our website.

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998 (since 5 August 2019 in the Swiss Reporting Standard). The company offers its shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.