Update on Escrow Account Balance

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS IS AN ANNOUNCEMENT AND NOT AN OFFER TO SELL OR AN INVITATION TO PURCHASE OR SUBSCRIBE FOR ANY SECURITIES NOR A CIRCULAR OR PROSPECTUS OR EQUIVALENT DOCUMENT AND INVESTORS OR PROSPECTIVE INVESTORS SHOULD NOT MAKE INVESTMENT DECISIONS ON THE BASIS OF ITS CONTENTS.  

FOR IMMEDIATE RELEASE.

25 April 2023

Hambro Perks Acquisition Company Limited

(“HPAC” or the “Company”)

Update on Escrow Account Balance

Ahead of the redemption of the Company’s Public Shares announced yesterday, 24 April 2023, HPAC (LSE: HPA1) would like to update shareholders on the expected Escrow Account cash balance.

The amount in the Escrow Account available to Public Shareholders (other than the Sponsor) is anticipated to be approximately £12.07 per Public Share, being approximately equal to the aggregate amount on deposit in the Escrow Account as at the Decision Date, including interest earned on the funds held in the Escrow Account (less taxes payable and £100,000 to pay dissolution expenses), divided by the number of outstanding Public Shares as at the Decision Date (other than in respect of Public Shares held by the Sponsor, which shall be redeemed for nil consideration).

The Company would also like to clarify that the Redemption Record Time, being close of business (6:00 p.m.) on the business day prior to the Redemption Deadline, is 6:00 p.m. on 5 May 2023. An updated expected timetable of events is set out below.

Capitalised terms used but not defined in this announcement have the meanings given to them in the announcement by the Company published yesterday, 24 April 2023.

Expected timetable of events*

EVENT	EXPECTED TIMETABLE
Redemption Record Time	6:00 p.m. on 5 May 2023
Latest date for despatch of cheques in respect of redemption monies and for settlement of redemption monies through CREST or other form of payment (the “Redemption Deadline”)	9 May 2023
Cancellation of listing	by no later than 24 May 2023
Completion of the winding up of the Company	during Q3 2023
Dissolution of the Company	before the end of Q3 2023

*All references to time in this announcement are to London time.

Enquiries

Hambro Perks Acquisition Company Limited Peter Soliman, Company Secretary	[e-mail]
FTI Consulting (Financial PR advisor to HPAC ) Charles Palmer Kit Dunford	[phone] [phone]

Notes to Editors

The information contained in this announcement is deemed by HPAC to constitute inside information for the purposes of Article 7 of the UK Market Abuse Regulation. By the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of HPAC is Peter Soliman, Company Secretary.

The LEI of HPAC is 2138002WGRFJRKBEVT75.

About HPAC

For further information on HPAC, please see www.hpac.uk.