Issuance of tradeable put options
On 23 August 2018 the Board of Directors of Castle Private Equity Ltd. has decided to issue put options tradeable on SIX Swiss Exchange. Each shareholder will be granted 1 put option free of charge for each registered share held. Every 20 put options will entitle shareholders to tender one registered share with a nominal value of CHF 0.05 at the exercise price of CHF 21.00. This represents a premium of 27.3% to the closing price of the registered share on 23 August 2018. The put options will be traded from 28 August 2018 to and including 19 September 2018. The put options must be exercised on 21 September 2018 (European style) by 11.00 a.m. CET at the latest. The net purchase price (exercise price minus 35% withholding tax calculated on the difference between the exercise price and the nominal value) will be paid on 24 September 2018.
As a result of the share buyback by issuing put options, Castle Private Equity Ltd. plans to repurchase up to 868,724 registered shares (4.82% of the outstanding share capital). It is intended to seek approval for the cancellation of all registered shares repurchased at the Annual General Meeting in 2019. Castle Private Equity Ltd. has mandated Zürcher Kantonalbank as Lead Manager of the transaction.
When considering whether to sell the put options on the stock exchange or to use them to tender registered shares, shareholders are advised to follow the instructions and recommendations of their custodian bank or other professional advisers.
In addition, the Board of Directors of Castle Private Equity Ltd. is considering launching a new share buyback programme on a second trading line following the share buyback programme through the issuance of tradeable put options.
The offering notice will be available under www.castlepe.com.
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Buyback of own shares through the issuance of tradable put options for capital reduction
Rachat d’actions propres, via l'émission d'options-put, à des fins de réduction du capital