On 10 May 2016 Castle Alternative Invest Ltd. announced a share buyback programme by issuing put options tradable on SIX Swiss Exchange. The put options have been traded from 17 to and including 30 May 2016. Every 30 put options entitled shareholders to tender one registered share at the exercise price of CHF 17.80.
In total, 315‘459 registered shares were tendered which correspond to 2.93% of the share capital and voting rights registered in the commercial register (resp. 3.27% of the share capital and voting rights after the intended capital reduction). The net purchase price (exercise price minus 35% with-holding tax calculated on the difference between the exercise price and the nominal value) will be paid on 2 June 2016. It is intended that approval for the cancellation of all registered shares repurchased will be sought at the Annual General Meeting in 2017.
Furthermore, following the termination of the buyback via issuance of tradable put options, the Board of Directors of Castle Alternative Invest Ltd. decided to launch a new share buyback programme on a second trading line at SIX Swiss Exchange. It will start on 6 June 2016 (first trading day) and a maximum of 649‘914 registered shares (maximum 6.04% of the share capital and voting rights registered in the commercial register resp. 6.73% of the share capital and voting rights after the intended capital reduction) will be purchased for cancellation purposes.