AIA Altin Reg

 
TIDMAIA 
 
 

ALTIN - Result of Extraordinary General Meeting

Shareholders vote in favour of ALTIN, reject Alpine Select's proposals

Baar, 18 March 2016 - ALTIN AG (SIX: ALTN, LSE: AIA) - shareholders have rejected the proposals of Alpine Select AG ("Alpine Select") to pay out a substantial dividend and to recall three long-standing members of the Board and replace them with appointees nominated by Alpine Select. Thomas Amstutz has been elected as member of the Board of Directors.

Shareholders have voted, by a significant margin, against Alpine Select's requested distribution of a gross dividend of CHF 68'994'120 (CHF 20 per share before deduction of 35% Swiss withholding tax) out of the retained earnings. The Board of Directors is pleased with this decision, as such a significant distribution would be have been detrimental to the interests of ALTIN and its shareholders.

Shareholders have also opposed the proposed recall of Dr. Peter Altorfer, Eric M.C. Syz and André Pabst as members of the Board of Directors and the election of Gerhard Niggli, Dr. Dieter Dubs as new members of the Board of Directors.

Mr Thomas Amstutz, a candidate proposed by Alpine Select, and also by ALTIN's Board of Directors, was appointed to the Board of ALTIN. The Board of Directors of ALTIN is hopeful this outcome will allow ALTIN to work constructively with Alpine Select and to prosper and meet all shareholder expectations over the long term.

For further information, please contact:

 
Tony Morrongiello - Chief 
Executive Officer 
Tel. +41 (0)41 760 62 60 
info@altin.ch 
Media enquiries for Switzerland      Media enquiries for the United Kingdom 
Hirzel.Neef.Schmid. Konsulenten AG   Kinlan Communications 
Jürg Wildberger                      David Hothersall 
Tel. +41 (0)79 351 10 24             Tel. +44 (0)20 7638 3435 
juerg.wildberger@konsulenten.ch      davidh@kinlan.net 
 
 

Note to Editors

About ALTIN AG

ALTIN AG was launched in 1996 and is listed on the SIX Swiss Exchange as well as on the London Stock Exchange. It ranks among Switzerland's leading alternative investment companies. Currently, ALTIN is invested in more than 40 hedge funds representing diverse investment strategies. Its objective is to generate an absolute compound annual return in USD terms with lower volatility than equity markets. Owing to these characteristics and a low correlation with equity markets, ALTIN shares provide an ideal complement for all diversified portfolios.

www.altin.ch

View source version on businesswire.com: http://www.businesswire.com/news/home/20160318005622/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

March 18, 2016 13:30 ET (17:30 GMT)

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