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TIDMCAI
RNS Number : 0090G
Castle Alternative Invest AG
22 June 2012
22 June 2012
Castle Alternative Invest AG
Second Line Trading
The Ordinary Shares of the Swiss alternative investment company, Castle Alternative Invest AG ('CAI AG' or 'the Company') traded on the London Stock Exchange at an average discount of more than 15 per cent to Net Asset Value per Ordinary Share over the 52 week period commencing on 5 June 2011. Accordingly, as approved at the Company's Annual General Meeting held on 15 May 2012, a second trading line for the Company's Ordinary Shares will be opened on the SIX Swiss Exchange. The second trading line is expected to commence on 28 June 2012, subject to approval by the Swiss Takeover Board. The Company will be the exclusive buyer on the second trading line and will repurchase its own Ordinary Shares for the purpose of subsequently reducing its share capital. For Ordinary Shares purchased on the second trading line, Swiss federal withholding tax of 35 per cent of the difference between the repurchase price and the nominal value of the Ordinary Shares of CHF 5 will be deducted from the repurchase price.
The Company also confirms that the next 52 week rolling period for the purpose of its stated discount control provision commenced on 5 June 2012. It remains the Directors' intention that the 15 per cent average discount threshold and the maximum repurchase price of up to 95 per cent of prevailing Net Asset Value per Ordinary Share will continue to apply to any possible future share repurchases for cancellation which result from the Company's stated discount control provision.
For further information, please contact:
Mark White, General Manager, telephone +44 (0)207 529 0960
Pia Skogstrom, Investor Relations, telephone +44 (0)207 529 0971
or e-mail: lgt.cai@lgt.com
www.castleai.com
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.
Swiss Security Number 509.275
A joint stock corporation incorporated on 30 July 1996 under Swiss laws
Registered Office: Schuetzenstrasse 6, 8808 Pfaeffikon/SZ, Switzerland
Telephone +41 55 415 9487
Fax +41 55 415 9488
This information is provided by RNS
The company news service from the London Stock Exchange
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