AP Alternative Portfolio AG (BRSE:APN) announces a share repurchase program. Under the program, the company will repurchase up to 42,105 registered shares, representing 6.6% of the share capital, for a total of CHF 12.6 million. The shares will be repurchased within the price range of CHF 277 to CHF 299 per share.

The repurchase price will correspond to a discount on the net asset value of approximately 5-12% per registered share. Each tendering shareholder has to indicate the number of shares that it intends to offer for sale at prices falling within the given price range. The buy-back price is determined identically in such a way supported by these offers for sale for all tendering shareholders so that the total quantity of 42,105 registered shares can be acquired at the lowest possible price, with which the tendering shareholders can sell their registered shares either in the framework of a “Dutch Auction” mentioned or a higher price.

Tendering shareholders, who offered a higher stock price than the fixed buy-back price, will not be considered. If the offer on tendered shares exceeds the maximum buy-back volume, the repurchases will be carried out on pro rata basis to the number of tendered shares up to the maximum buy-back volume. The tender offer is valid until March 17, 2016.