Result of AGM

RNS Number : 5286K

Apax Global Alpha Limited

06 May 2022

 

(LSE: APAX)

Apax Global Alpha Limited

Results of Seventh Annual General Meeting

The Directors of the Company are pleased to announce the results of voting at the Seventh Annual General Meeting of the Company held at 10:00 AM (UK Time) on Tuesday 5 May 2022 at the offices of Aztec Group, East Wing, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY1 3PP (the "AGM").

Each of the Ordinary Resolutions and Special Resolutions proposed in items 1 to 12 of the notice and agenda of the AGM were duly passed.

Voting was conducted by way of poll.

Total votes of 216,722,976 were cast at the AGM¹. The results of the voting² are noted as follows:

Ordinary Resolutions ³

	In Favour		Against		Withheld4
Resolution	Votes	%age	Votes	%age	Votes
1.  To adopt the annual report and audited financial statements of the Company for the year ended 31 December 2021, including the reports of the Directors and the Auditor.	216,697,963	99.99	22,713	0.01	2,309
2.  To adopt the Directors' Remuneration Report and in doing so approve the proposed increase in the Directors' Fee Cap (as set out in the Annual Report).	216,629,125	99.97	61,693	0.03	32,167
3.  To re-appoint KPMG Channel Islands Limited as the external auditor of the Company to hold office until conclusion of the next annual general meeting.	216,674,149	99.99	13,985	0.01	34,851
4.  To authorise the Board to negotiate and fix the remuneration of the Auditor in respect of the financial year ended 31 December 2022.	216,709,253	99.99	8,251	0.01	5,481
5.  To re-elect Chris Ambler as an independent non-executive Director of the Company.	190,817,914	88.06	25,877,423	11.94	27,648
6.  To re-elect Mike Bane as an independent non-executive Director of the Company.	215,325,213	99.37	1,370,124	0.63	27,648
7.  To re-elect Tim Breedon as an independent non-executive Director of the Company.	215,329,110	99.37	1,366,227	0.63	27,648
8.  To re-elect Stephanie Coxon as an independent non-executive Director of the Company.	214,745,077	99.10	1,950,259	0.90	27,649
9.  To re-elect Sally-Ann (Susie) Farnon as an independent non-executive Director of the Company.	215,330,733	99.37	1,364,604	0.63	27,648
10.  To approve the Company's dividend policy as set out on page 12 of the Prospectus dated 22 May 2015.	216,720,263	99.99	2,713	0.01	9
Special Resolutions5
	In Favour		Against		Withheld4
Resolution	Votes	%age	Votes	%age	Votes
11.  To renew the authorisation of the Company to make market acquisitions of its shares as set out at special resolution 11 of the notice and agenda for the AGM.	216,672,813	99.99	27,863	0.01	22,309
12.  To authorise the Directors to issue up to a maximum number of ordinary shares as set out at special resolution 12 of the notice and agenda for the AGM.	216,582,189	99.94	138,478	0.06	2,318

A copy of this announcement will be available on the Company's website and, in accordance with the Listing Rules, the full text of the special resolutions passed at the AGM may be found in the Notice of AGM  published on 2 March 2022 available from the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

1. The total voting rights of the Company as at 1 March 2022 were disclosed in the notice of the AGM published on 2 March 2022 and were unchanged at the time of convening the AGM, being 491,100,768.

2. Pursuant to the Companies (Guernsey) Law, ordinary and special resolutions of the members are passed on a show of hands if passed by members who vote in person and by persons who vote as duly appointed proxies of members entitled to vote. Accordingly, this means that resolutions are passed by the requisite majority of votes cast at the AGM, not as a majority of the total voting rights.

3. Ordinary resolutions are passed if more than half (50%) of votes are cast in favour of the resolution.

4.  A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "for" and "against" a particular resolution.

5.   Special resolutions are passed if more than 75% of votes are cast in favour of the resolution.

Contact details

Investor relations Lorraine Rees Investor Relations - AGA Telephone: [phone] Email: [e-mail]

Company secretary Lewis Germain Company Secretary Telephone: [phone] Email: [e-mail]

Notes

1.	Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company". References to Apax Partners LLP have been abbreviated to "Apax Partners" or "the Investment Adviser"
2.	Please be advised that this announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR")
3.	This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to "US persons" (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions
4.	The information presented herein is not an offer for sale within the United States of any equity shares or other securities of Apax Global Alpha Limited ("AGA"). AGA has not been and will not be registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition, AGA's shares (the "Shares") have not been and will not be registered under the Securities Act or any other applicable law of the United States. Consequently, the Shares may not be offered or sold or otherwise transferred within the United States, or to, or for the account or benefit of, US Persons, except pursuant to an exemption from the registration requirements of the Securities Act and under circumstances which will not require AGA to register under the Investment Company Act. No public offering of the Shares is being made in the United States
5.	This announcement may include forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding AGA's intentions, beliefs or current expectations concerning, among other things, AGA's results of operations, financial condition, liquidity, prospects, growth and strategies. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA's present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of AGA to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond AGA's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as AGA's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which AGA operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. AGA expressly disclaims any obligation or undertaking to release any updates or revisions to these forward-looking statements to reflect any change in AGA's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement, or to update or to keep current any other information contained in this announcement. Accordingly, undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this announcement.

About Apax Global Alpha Limited

AGA is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.

AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.

The investment policy of the Company is to make Private Equity investments in Apax Funds, and Derived Investments which are investments in equities and debt derived from the insights gained via Apax Partners' Private Equity activities.

Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com.

About Apax Partners LLP

Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

 

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