Termination of the share buyback programme on the second trading line and issuance of tradeable put options

Today the Board of Directors of Castle Private Equity Ltd. has decided to terminate prematurely on 21 May 2019 the share buyback programme on a second trading line at SIX Swiss Exchange, which started on 25 September 2018. Overall, a total of 946,786 registered shares or 5.25% of the current share capital and voting rights were bought back.


At the Annual General Meeting on 14 May 2019, the Board of Directors was authorised to carry out further share buyback programmes up to a maximum of 10% of the share capital.


On that basis the Board of Directors of Castle Private Equity Ltd. has decided today 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 20.00. This represents a premium of 29% to today's closing price of the registered share. The put options will be traded from 24 May 2019 to and including 7 June 2019. The put options must be exercised on 12 June 2019 (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 13 June 2019.


As a result of the share buyback by issuing put options, Castle Private Equity Ltd. plans to repurchase up to 561,430 registered shares (3.12% 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 2020. 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.


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Buyback of own shares through the issuance of tradable put options for capital reduction

Rückkauf eigener Aktien durch Ausgabe von handelbaren Put-Optionen zum Zweck der Kapitalherabsetzung

Rachat d’actions nominatives propres, via l’émission d’options-put, à des fins de réduction du capital

21 May 19, 6:15 PM

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