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Komfie Manalo, Opalesque Asia: The Board of Directors of Swiss alternative investment firm ALTIN AG has called for an Extraordinary General Meeting (EGM) on March 16 on the insistence of two of its main shareholders to discuss the replacement of three board members and the accumulation of dividends.
The EGM was scheduled by ALTIN after two of its shareholders, Alpine Select AG and Absolute Invest AG, with a combined 32.41% stake, called for the removal of Mssrs. Peter Altorfer, Eric Syz and André Pabst from the fund of hedge funds’ board of directors.
Instead, Alpine Select and Absolute Invest have proposed the election of Mssrs. Thomas Amstutz, Gerhard Niggli and Dieter Dubs into ALTIN’s board.
The two shareholders also want to discuss the accumulation of a dividend, particularly the payout of a dividend of CHF 20.00 per share, paid out of retained earnings.
ALTIN said in a statement, "The Board of Directors of ALTIN will examine the requests of Alpine Select and Absolute Invest AG and communicate its position in due course."
ALTIN outperforms peers in 2015
The Swiss firm has listings on both the London and Swiss exchanges and invests in more than 40 underlying hedge funds. ALTIN ended 2015 up +2.20% for its $240 million multi-strategy fund of hedge funds, outperforming ...................... To view our full article Click here
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