07.02.2017 The Extraordinary Shareholders' Meeting approves all proposals and recommendations of the board of directors
Zug, 7 February 2017
Alpine Select: The Extraordinary Shareholders’ Meeting approves all proposals and recommendations of the board of directors
At the extraordinary shareholders' meeting held today in Zug, the shareholders approved all proposals and recommendations of the board of directors as described in the invitation.
- Reduction of the share capital of CHF 286,324.64 to CHF 227,025.00 by way of cancellation of the 2,964,982 registered shares with a nominal value of CHF 0.02 each which were repurchased by Alpine Select under the share buyback program announced on 29 November 2016 and concluded on 29 December 2016;
- Determination of the result of the audit report that the claims of the creditors are fully covered notwithstanding the capital reduction;
- Article 4 of the articles of association reads now, as per date of the entry of the capital reduction in the commercial register:
"Art. 4 - share capital
The share capital of the Company amounts to CHF 227,025.00 and is divided into 11,351,250 registered shares with a par value of CHF 0.02 each. The shares are fully paid-in."
In addition, the shareholders approved the cash distribution of an extraordinary dividend free from withholding tax out of the reserves from capital contributions in the amount of CHF 3.00 per registered share of CHF 0.02 nominal value. The repayment or distribution out of the reserves from capital contributions is made through the account “free reserve”, whereby this account serves merely as a run-through. The dividend will be paid out to the shareholders with ex-date 9 Februar 2017 (date of payment: 13 February 2017).
In his presidential speech, Raymond J. Baer briefly commented on Alpine Group's participation in Altin AG (current holding size: 88.65%), and reaffirmed that the Alpine Group's goal remains the possible full consolidation or merger of the business activities of both companies.
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 always traded at or close to its Net Asset Value.