ALTIN: Put options' strike price set at USD 57.50 Montag, 09. September 2013 - 19:41
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 Jose Galeano - Investor Relations Manager Tel. +41 (0)41 760 62 60 info@altin.ch | Kinlan Communications David Hothersall Tel. +44 (0)20 7638 3435 davidh@kinlan.net |
