Altin shareholders approve CHF2.35 dividend
Shareholders of Swiss alternative investment company Altin have accepted the payment of a CHF2.35 dividend and elected Roger Rüegg as board member in replacement of Nigel Russell.
The decisions were approved at the firm’s annual general meeting.
The business report and the annual financial statements were approved and the members of the board of directors were discharged. Following the board's proposal and in accordance with the dividend policy announced in November 2011, the AGM accepted the payment of a dividend of CHF2.35 per share for 2012, out of share premium reserves. This amount corresponds to four per cent of the NAV as per 31 December 2012 and represents a dividend yield of 5.9 per cent based on the end-of-year share price. This dividend is not submitted to Swiss withholding tax.
The board of directors has been re-elected for one year, with the exception of Russell who resigned and was replaced by Rüegg. A graduate of the University of St. Gallen, Rüegg is a founding partner of Zurich-based Multiplicity Partners, an independent investment boutique specialising in alternative investments. Prior to this role, Rüegg held positions at Horizon21 and Julius Baer.
The new board members proposed by Metage Funds Limited were not elected.
The measures proposed by Futureal 2 Global Euro Szarmaztatott Alap – i.e. the dissolution of the legal reserve in an amount of CHF 8.40 per share, the reduction of share capital by reducing the nominal value from CHF17.00 to CHF0.05 and the repayment of the corresponding amount, the reduction of share capital through share buy-back as long as the discount is greater than seven per cent - were all rejected by the shareholders.
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