News

29.07.2019 Alpine Select to switch to the Swiss Reporting Standard of the SIX Swiss Exchange as per 5 August 2019

 

 

Press Release

Zug, 29 July 2019

SIX Exchange Regulation approved the Alpine Select AG («Alpine Select», the «Company») application to switch the Standard segment on 25 July 2019, provided all publication requirements are fulfilled. The 10,283,105 registered shares with a par value of CHF 0.02 each of Alpine Select AG, registered at Zug (Valor symbol ALPN, ISIN CH0019199550) will be traded in the Swiss Reporting Standard of the SIX Swiss Exchange as from 5 August 2019. The last trading day in the Segment of investment companies is 2 August 2019.

The change in standard takes place in connection with the acquisition of a FINMA-licensed, operational and income related activity, whereby the Company is no longer considered an investment company within the meaning of the Listing Rules of the SIX Swiss Exchange.

Companies in the standard for investment companies must apply the International Financial Reporting Standards («IFRS»). This requirement is no longer required given the standard change. A mandatory change in the accounting standard to Swiss GAAP FER is associated with the aforementioned change in the standard. In view of the increasing complexity of IFRS and its focus on international companies, Swiss GAAP FER is proving to be a more suitable accounting standard for Alpine Select.

Among other things, the changeover to Swiss GAAP FER will enable Alpine Select to consolidate the portfolio again and thus offer its shareholder the desired transparency. Otherwise, the previous valuation methods will continue to be applied insofar as they comply with the requirements of Swiss GAAP FER. A detailed reconciliation statement follows with the 2019 annual report and the half-year report 2020.

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. 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. The Company’s shares are liquid and have traded at or close to its Net Asset Value.