LONDON--(BUSINESS WIRE)--
ALTIN AG – Changes at Board level to reflect new ownership structure
Baar, 3 May 2016 – ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss alternative investment company, announces that following constructive discussions held with its largest shareholder, Alpine Select AG, and to reflect the new ownership structure, Eric Syz, will be stepping down from his role as a Director following the Company’s Annual General Meeting to be held on 9 May 2016. Peter Altorfer who joined ALTIN’s Board of Directors in 2010 and has acted as Chairman since April 2011 had announced in an earlier media release dated 14 April 2016 his decision not to stand for re-election. Thomas Amstutz, a representative of Alpine Select AG, together with Dieter Dubs and Gerhard Niggli will join the Board and are to be elected at the Annual General Meeting on 9 May. André Pabst and Roger Rüegg, who are current Board members, will stand for re-election.
PricewaterhouseCoopers AG, the Company’s independent auditor since 1996 will be replaced by KPMG AG which will be taking over this role from 9 May onwards.
The management and current Directors of the Company are confident that strategic solutions can be found that will be value accretive to both the majority and minority shareholders.
For further information, please contact:
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Tony Morrongiello – Chief Executive Officer Tel. +41 (0)41 760 62 60
Media enquiries for Switzerland Hirzel.Neef.Schmid. Konsulenten AG Jürg Wildberger Tel. +41 (0)79 351 10 24 |
Media enquiries for the United Kingdom Kinlan Communications David Hothersall Tel. +44 (0)20 7638 3435 |
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