17.05.2023 Alpine Select Ltd: The ordinary shareholders’ meeting approves all agenda items and proposals proposed by the board of directors
In detail, the shareholders’ meeting 2023 of Alpine Select Ltd. passed the following resolutions:
- The annual report 2022 (statutory financial statements as well as the consolidated financial statements in accordance with Swiss GAAP FER) was approved and the compensation report 2022 was approved in a consultative vote.
- The appropriation of available earnings and the distribution of a dividend of CHF 1.00 gross per outstanding registered share were approved. The dividend will be paid out to the shareholders after deduction of 35% VAT with value date 24 May 2023. The share will be traded ex-dividend as of 22 May 2023.
- The members of the board of directors and the management were discharged for the 2022 financial year.
- The members of the board of directors Raymond J. Baer, Thomas Amstutz, Dieter Dubs and Michel Vukotic were re-elected individually for a one-year term of office until conclusion of the next ordinary shareholders’ meeting. In addition, Raymond J. Baer was re-elected as president of the board of directors for a one-year term. Raymond J. Baer and Dieter Dubs were re-elected as members of the compensation committee for a one-year term. BDO Ltd., Zurich, was re-elected as auditors of the company for another one-year period. HütteLAW AG, Cham, was re-elected as independent representative until the next ordinary shareholders’ meeting in 2024.
- In addition, the shareholders approved the proposed maximum total amount of compensation for the board of directors for the coming term of office (AGM 2023 to AGM 2024) as well as the maximum total amount of compensation for the management (for the coming financial year 2024).
- The cancellation of 548,070 own shares bought back until 10 May 2023 under the share buyback program launched in 2020 and the reduction of the share capital from CHF 185,159.40 to CHF 174,198.00 was approved.
- The proposed general partial revision of the articles of association and thus the adaption of the company’s articles of association to the revised Swiss Stock Corporation Law, which came into force on 1 January 2023 was also approved.
- Finally, the shareholders authorized the board of directors, at its own discretion, to launch a new share buyback program of up to 10% of the total share capital (in the period between 17. May 2023 and the ordinary shareholders’ meeting in 2025).
At today’s ordinary shareholders’ meeting, 58.98% of all shares were represented.
The detailed voting results and the summary minutes will be available on the website www.alpine-select.ch/en/investors#downloads no later than 23 May 2023.
About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers its shareholders the key benefit of investing into a diversified alternative investment 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.
- Press release (in PDF Format)