25.10.2023 Alpine Select Ltd: Share buyback via second trading line
Ad hoc announcement pursuant to Art. 53 LR
At the Ordinary Shareholders' Meeting of Alpine Select Ltd. («Alpine Select», the «Company») on 17 May 2023, the shareholders authorized the board of directors to repurchase up to a maximum of 10% of the share capital of Alpine Select until the ordinary shareholders' meeting in 2025 for the purpose of subsequent definitive cancellation of the shares by way of capital reduction.
The Board of Directors of Alpine Select has decided based on the above-mentioned authorization to launch a new share buyback program of a maximum of 9% via a second trading line. Based on the current outstanding number of registered shares of Alpine Select, the maximum buyback volume is 783,891 registered shares. The maximum buyback volume per day amounts to 14'380 registered shares (calculated pursuant to Art. 123 para. 1 lit. c FinMIO). The actual number of shares bought back will be determined on the one hand by the freely available liquidity of the Company and on the other hand by the supply on the second trading line. Alpine Select reserves the right to terminate the buyback program prematurely and is not obliged to repurchase its own shares at any time.
The share buyback notice will be published on 25 October 2023. Trading on the second trading line will commence on 27 October 2023 and shall continue until 30 May 2025 at the latest. After completion of the share buyback program, the board of directors will propose to the shareholders' meeting a capital reduction by cancellation of all registered shares repurchased under this share buyback program. The transaction will be executed by Helvetische Bank AG, Zurich.
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)