Termination of the share buyback programme and issuance of tradable put options


Today the Board of Directors of Castle Alternative Invest Ltd. has decided to terminate on 30 June 2017 the current share buyback programme on a second trading line on SIX Swiss Exchange, which started on 6 June 2016. With the end of the programme, 649,914 shares will probably be bought back. Together with the completed buyback programme through the issuance of put options in May 2016, the maximum number of registered shares approved by shareholders at the AGM held on 10 May 2016 will probably be reached. The buybacks mentioned before were done for cancellation purposes.


Furthermore, the Board of Directors has decided to issue put options trade-able on SIX Swiss Exchange. Each shareholder will be granted 1 put option free of charge for each registered share held. Every 30 put options will entitle shareholders to tender one registered share with a nominal value of CHF 5 at the exercise price of CHF 17.70. This represents a premium of 8.9% to today's closing price of the registered share. The put options will be traded from 3 July 2017 to and including 17 July 2017. The put options must be exercised on 19 July 2017 (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 20 July 2017.


As a result of the share buyback by issuing put options, Castle Alternative Invest Ltd. plans to repurchase up to 289,442 registered shares (3.00% 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 2018. Castle Alternative Invest Ltd. has mandated Zuercher 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 Alternative Invest 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.castleai.com.

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