Altin AG Transaction in Own Shares
September 09 2013 - 12:55PM
UK Regulatory
TIDMAIA
ALTIN: Put options' strike price set at USD 57.50
Baar, 9 September 2013 - Following the announcement issued by
the Company on 2 September 2013, the Board of Directors of ALTIN AG
(SIX: ALTN, LSE: AIA) has set the strike price of the put options
to be issued as part of its share buyback programme at USD 57.50.
The strike price is set c. 20% above the closing share price (SIX)
as 9 September 2013.
Timeline of the share buyback through put options
The ex-date for the put options is 13 September 2013, the date
when the put options will start trading on SIX Swiss Exchange. The
put options will be traded until 26 September 2013, thus allowing
investors to sell their options on the market or to buy more
options in order to tender more shares. The exercise day for the
put options is 27 September 2013, when the results of the share
buyback will be announced after the close of market. The settlement
date for the delivery of repurchased shares and exercised put
options against payment of the strike price (net of Swiss
withholding tax) will be 2 October 2013. Tendered shares will be
cancelled after approval by the AGM 2014 and, if all options are
exercised, this will effectively result in a 10% capital
reduction.
For further information, please contact:
Tony Morrongiello - Chief Executive Officer Kinlan Communications
Jose Galeano - Investor Relations Manager David Hothersall
Tel. +41 (0)41 760 62 60 Tel. +44 (0)20 7638 3435
info@altin.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 30 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
This information is provided by Business Wire
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