20.12.2018 Alpine Select: Successful completion of the repurchase of own shares by issuing tradeable put options for the purpose of capital reduction
Zug, 20 December 2018
Alpine Select: Successful completion of the repurchase of own shares by issuing tradeable put options for the purpose of capital reduction
Alpine Select Ltd. (“Alpine Select”) announced on 29 November 2018 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 17.50. The put options were traded from 3 December 2018 to and including 18 December 2018.
In total, 558,134 registered shares were tendered which correspond to 4.98 % 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 21 December 2018. It is intended to seek approval for the cancellation of all registered shares repurchased at the Annual Shareholders’ Meeting 2019.
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)