Shareholders will be left seriously out of pocket if Altir bid succeeds


#1

Originally published at: http://whichinvestmenttrust.com/shareholders-will-be-left-seriously-out-of-pocket-if-altir-bid-succeeds/
Altir AG, a fund-of-hedge-funds trust is facing an attempt from a large shareholder to gain control without paying a premium, before railroading through a cash payout that would leave most shareholders, but not them facing an eye wateringly high tax bill. Altir AG, a $210 million Swiss domiciled investment company, with a listing in both…


#2

It sounds completely bloody daft but it’s hard to feel sorry for hedge funds with their 20% performance fee. Having said that, if I was a shareholder here I wouldn’t be voting for this nonsense.


#3

What I don’t understand about this is the second largest shareholder according to both the article and the Quoted Data report is SYZ - aren’t they a corporate entity too? and if so shouldn’t they also be subject to reclaiming the Swiss withholding tax?

For ordinary shareholders this sounds disastrous, but if they don’t bother to vote it down, well, hell mend them I say.


#4

Crazy. Surely shareholders will vote to stop this. I’d be very surprised if this went through, though they do have a very large shareholding, and it wont take that much for them to win, assuming they just need to get to the 50% mark of shareholders who bother to vote.