Altin AG Statement re. shareholders meeting

 
TIDMAIA

ALTIN - Statement

Baar, 15 March 2013 - ALTIN AG (SIX: ALTN, LSE: AIA) has received requests from two minority shareholders to place items on the agenda of the next shareholders meeting.

The first minority shareholder, holding ca. 1.5% of ALTIN's shares, has requested to place the following items on the agenda:

 
 
    -- Partial dissolution of the legal reserve from capital contribution and

withholding tax exempt repayment of legal reserve from capital

contribution of CHF 8.40 per registered share.

 
    -- Share capital reduction from CHF 17 to CHF 0.05 and repayment of

reduction in nominal value. The Board of Directors shall be mandated

to submit a respective proposal to an Extraordinary General Meeting

within two months after the next Annual General Meeting.

 
    -- Reduction of Share Capital by mandating the Board of Directors to

buy-back a maximum amount of 10% of the shares of the company at

market prices via the second line and subsequent cancellation of said

shares.

It is further requested that, upon the completion of the buy-back, the Board of Directors shall call an Extraordinary General Meeting proposing to cancel shares, reduce share capital and initiate a new share buy-back program aiming to buy back an additional 10% of the outstanding shares, as long as the weighted average discount to NAV in the previous quarter is above 7%.

The second minority shareholder, holding ca. 1.7% of ALTIN's shares, has proposed the election of Messrs. Jérôme Müller and Jean-Michel Clerc as new Members of the Board of Directors for a one-year term of office.

Since the requested items fall within the competence of the General Meeting and comply with the applicable provisions of the Code of Obligations and the Articles of Association, they shall be put on the agenda of the forthcoming ordinary general meeting which is scheduled for 22 April 2013. Nevertheless, after a careful review of the requests of the first shareholder, ALTIN's Board of Directors considers that they are not in the best interest of the majority of the shareholders and recommends rejecting these proposals. The candidature of the two new members proposed by the second shareholder will be examined by the Board of Directors.

ALTIN's ordinary general meeting is scheduled for 22 April 2013. The deadline for registration in the shareholder's register to vote at the ordinary general meeting is 12 April 2013.

For further information, please contact:

 
José Galeano - Head Investor Relations Manager   Kinlan Communications 
Marc T. Clapasson - Investor Relations Manager   David Hothersall 
Tel. +41 41 760 62 60                            Tel. +44 (0)20 7638 3435 
info@altin.ch                                    davidh@kinlan.net 
 
 
 
 
This information is provided by Business Wire

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