The board of directors of Spice Private Equity AG, Zug (“Spice PE”) decided on 25 January 2022 to initiate a share repurchase program (repurchase at a fixed price) for a maximum of 3.78% (equaling 13.47% of the free float) of the share capital of Spice PE for the purpose of a share capital reduction through the cancellation of the repurchased shares. With this share repurchase, Spice PE aims to offer its shareholders an exit opportunity and access to additional liquidity, given the shares’ trading volume currently being relatively small (1,025 shares per day on average in the last 90 days). As of 30 September 2021, there has been a difference of $13.21 between the NAV ($30.21) and the stock exchange price of the Spice PE share ($17.00). As of 25 January 2022, the share price was $14.50.
The offered repurchase price for each registered share amounts to $15.50. The repurchase offer is open for acceptance during ten trading days from 10 February 2022 until 23 February 2022, 16.00 CET and payment of the repurchase price and delivery of the shares shall take place with value date of 28 February 2022.
Spice PE will book the difference between the repurchase price of the shares and their nominal value (liquidation surplus) in full to the reserves from capital contributions, so that the liquidation surplus is not subject to Swiss withholding tax of 35% and individual shareholders taxable in Switzerland, who sell shares held as private assets in principle do not generate taxable income (capital contribution principle).
For further information on the share repurchase program please refer to the buyback notice attached below.