The board of directors of Alpine Select has taken the decision in principle to reduce in medium-term its exposure in hedge funds – held directly as well as indirectly via its majority holding in ALTIN – and to increasingly focus on traditional topics and/or investment strategies.
Currently, Alpine Select holds directly or indirectly a total of 61.21 per cent in ALTIN Ltd, Zug.
As ALTIN has announced on 30 May 2016 as well as on 21 June 2016, the repayment in the amount of total CHF24 per share as proposed by Alpine Select and decided by the shareholders of ALTIN is envisaged to be executed in September 2016.
Taking into account this repayment to the shareholders and thus also to Alpine Select and provided appropriate market conditions, the prerequisite is given that Alpine Select has an interest to further expanding its holding in ALTIN Ltd.
Should Alpine Select be able to further expand its holding in ALTIN, the company says it will seek negotiations with the board of directors of ALTIN Ltd in the fourth quarter 2016 on a possible full consolidation or merger of the business activities of both companies, respectively.
In the meantime, Alpine Select pursues to make further adjustment at ALTIN Ltd, e.g. to align the investment guidelines and to increase efficiency (especially cost cuttings). Should a corresponding integration transaction actually take place, Alpine Select will strive to take into account the interests of all stakeholders of ALTIN Ltd.