Castle Private Equity Ltd today published an invitation for an extraordinary general meeting to seek shareholder approval regarding a fixed-price share buyback programme of up to 25% of outstanding registered shares. In addition, the Board of Directors proposes a reduction of the minimum shareholding for placing items on the agenda.
The main objective of the buyback for cancellation purposes will be to distribute liquidity to shareholders. Castle Private Equity Ltd. will contact major shareholders on their willingness to tender shares to the transaction in the next weeks.
If approved by extraordinary general meeting, the share buyback is anticipated to occur subject to conditions in November 2017. Details regarding the transaction will be published following the extraordinary general meeting.