22.05.2017 At today’s Annual Shareholders’ Meeting of Alpine Select Ltd., shareholders passed all agenda items and proposals submitted by the Board of Directors
Zug, 22 May 2017
At today’s Annual Shareholders’ Meeting of Alpine Select Ltd., shareholders passed all agenda items and proposals submitted by the Board of Directors
In detail, the shareholders’ meeting 2017 of Alpine Select Ltd. passed the following resolutions:
- The annual report 2016 (statutory financial statements as well as financial statements [IFRS]) was approved and the compensation report 2016 was approved in a consultative vote. In addition, the request to carry forward the loss of the fiscal year 2016 to a new account was approved.
- The members of the board of directors and the management were discharged for the 2016 financial year.
- The board members Raymond J. Baer, Thomas Amstutz and Dieter Dubs were individually re-elected as members of the board of directors, each for a one-year term of office until completion of the next ordinary shareholders’ meeting. Michel Vukotic was elected as new member of the board of directors for a one-year term. In addition, Raymond J. Baer was re-elected as president of the board of directors and together with Dieter Dubs, as a member of the compensation committee, each for a one-year term. HütteLAW AG, Cham, was re-elected as independent representative until the next ordinary shareholders’ meeting. And KPMG Ltd., Zurich, was appointed as auditor for another one-year period.
- The maximum aggregate amount of compensation of the board of directors for the coming term (AGM 2017 to AGM 2018) was approved. Additionally, the maximum aggregate amount of compensation for the management (for the next financial year 2018) was approved.
- Furthermore, the shareholders approved the reduction of the share capital from CHF 227 025.00 to CHF 224 058.00 by cancelling 148 350 shares that the Company repurchased under the share buyback program, approved by the ordinary shareholders’ meeting on 20 May 2015.
- The shareholders also authorized the board to launch at their discretion, a new share buyback program of up to 10% of the total share capital (in the period between 22 May 2017 and the ordinary shareholders meeting in 2019).
- In addition, the shareholders approved the creation of authorized capital and the revised article 4a of the articles of association.
- Finally, the shareholders have also approved the request of the board of directors, to cancel article 28 including its heading «Intended acquisition of assets» of the articles of association.
In his presidential speech, the president of the board of directors briefly commented on the Alpine Group’s participation in Altin Ltd. (current holding size: 93.51%) and reaffirmed that the Company’s goal remains the possible full consolidation or merger of the business activities of both companies and finally the delisting of the Altin share.
At today's annual meeting of shareholders', 59.83% of all shares were represented.
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.