Based on the authorization resolution of the General Assembly of 16 May 2019, the Board of Directors of Alpine Select has decided on repurchasing a maximum of 514,155 registered shares (which corresponds to a maximum of 4.59% of the outstanding share capital currently registered in the commercial register or a maximum of 5% of the outstanding share capital following the cancellation of 919,795 own shares on 22 July 2019) by issuing tradeable put options:
- 1 put option for each registered share held, free of charge;
- 20 put options entitle shareholders to tender one registered share with a nominal value of CHF 0.02;
- the exercise price is CHF 17.00, and represents a premium of 24% to the closing price of the registered share on 26 June 2019;
- the put options will be traded from 1 July 2019 to and including 16 July 2019;
- the put options must be exercised (European style) on 18 July 2019 by 11.00 am CEST at the latest (any put options not exercised on time and the rights related to these options will expire without any compensation);
- payment of net purchase price (exercise price minus 35% withholding tax calculated on the difference between the exercise price and the nominal value) will be on 19 July 2019.
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Valor
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48,459,294
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ISIN
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CH0484592941
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Ticker
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ALLPPO
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When considering whether to sell the put options on the stock exchange or to exercise them in order to tender registered shares, shareholders are advised to follow the instructions and recommendations of their custodian bank or other professional advisers.
The Board of Directors of Alpine Select intends to ask the next Shareholders' Meeting to resolve on the cancellation of the repurchased shares and on the corresponding capital reduction.
In addition, the Board of Directors of Alpine Select is considering launching a new share buyback program on a second trading line, following the share buyback program through the issuance of tradeable put options.
Press Release Launch Buyback
Buyback Notice - 27 June 2019
Successful completion of the repurchase of own shares by issuing tradeable put options for the purpose of capital reduction
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 of Alpine Select will propose to the next Shareholders' Meeting the cancellation of all registered shares repurchased under this share buyback program.