18.07.2019 Alpine Select Ltd: Successful completion of the repurchase of own shares by issuing tradeable put options for the purpose of capital reduction
Zug, 18 July 2019
Alpine Select Ltd. (“Alpine Select”) announced on 27 June 2019 a share buyback program by issuing put options tradable on SIX Swiss Exchange. Through this program, each shareholder was granted 1 put option free of charge for each registered share held, and every 20 put options entitled shareholders to tender one registered share at the exercise price of CHF 17.00. The put options were traded from 1 July 2019 to and including 16 July 2019.
In total, 510,980 registered shares were tendered which corresponds to 4.56% of the share capital registered in the commercial register. The net purchase price (exercise price minus 35% withholding tax calculated on the difference between the exercise price and the nominal value) will be paid on 19 July 2019. The board of directors will propose to the next Shareholders’ Meeting the cancellation of all registered shares repurchased under this share buyback program.
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.