27.12.2018 Alpine Select Ltd.: Announcement of a new share buyback program at market price
Zug, 27 December 2018
Alpine Select Ltd.: Announcement of a new share buyback program at market price
At the Annual Shareholders’ Meeting of Alpine Select Ltd. (“Alpine Select”) held on 22 May 2017 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 2019 for the purpose of subsequent cancellation by way of a capital reduction.
On 29 November 2018, Alpine Select Ltd. (“Alpine Select”) announced a share buyback program by issuing put options tradable on SIX Swiss Exchange. A total of 558,134 registered shares were tendered, which correspond to 4.98% of the share capital registered in the commercial register. It is intended to seek approval for the cancellation of all registered shares repurchased at the Annual Shareholders’ Meeting 2019.
In addition – and to follow the termination of the buyback program via issuance of tradable put options – the Board of Directors of Alpine Select decided to launch a new share buyback program on a separate trading line at SIX Swiss Exchange. Starting 3 January 2019 (first trading day) a maximum of 560,145 registered shares or an equal of 5 % of the share capital registered in the commercial register will be purchased for cancellation purposes. The maximum buyback volume per day is 7,126 shares (in accordance with Art. 123 para. 1 lit. c FinfraV).
About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the Swiss Stock exchange since 1998. The company offers institutional and individual investors the opportunity to buy into a broad 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.
- Press release (in PDF format)