Altin AG Statement re. shareholders meeting
15 Marzo 2013 - 6:30PM
UK Regulatory
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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