8.08.2023 Alpine Select Ltd: Announcement of an extraordinary shareholders’ meeting
Ad hoc announcement pursuant to Art. 53 LR
A long-time major shareholder and former member of the Board of Directors of Alpine Select has notified the Board of Directors of Alpine Select of his intention to sell his ALPN shares as part of his private succession plan.
In view of this intention to sell, the board of directors will convene an extraordinary shareholders’ meeting in the near future, at which it will propose an extraordinary dividend of CHF 3.00 per registered share. The financing of this extraordinary dividend is ensured by already available liquid funds of the Company. Should the shareholders approve the proposed extraordinary dividend, no existing investments would have to be sold.
The extraordinary distribution would increase the investment ratio of the Alpine Select portfolio to 100%. The board of directors is convinced of the intrinsic value and development potential of its portfolio. It is therefore confident that shareholders share its assessment and that some may reinvest any extraordinary dividend that may be paid out.
The board of directors has also decided that Alpine Select’s cost structure should be further reduced. As a first measure, reductions of 25% in the compensation of the board of directors are planned.
The invitation to the extraordinary shareholders’ meeting of Alpine Select will be sent to the shareholders together with the agenda for the single agenda item in the near future and will be available online on the Alpine Select website at www.alpine-select.ch/en/investors#downloads.
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)