Ordinary Shares Lock up Release 1st Tranche

RNS Number : 1575B

Apax Global Alpha Limited

14 June 2016

 

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.

Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company".

FOR IMMEDIATE RELEASE

14 June 2016

(LSE: APAX)

Apax Global Alpha Limited

Release of initial tranche of ordinary shares from lock-up

The Company notes that, as previously disclosed in the Company's prospectus dated 22 May 2015, the lock-up agreed with certain of its existing shareholders in respect of their shareholdings at the time of the Company's initial public offering will partially expire on 15 June 2016. The Company and its corporate broker are currently in communication with these shareholders with a view to help facilitate an orderly market in the Company's shares for those of them who may wish to sell shares following the release from lock-up of the initial tranche of shares.

Contact details

Investor Relations
Sarah Wojcik
Telephone:	[phone]
Email:	[e-mail]
Media enquiries (Apax Global Alpha Limited)
Georgiana Brunner/Matthew Goodman/Annabel Clay, Greenbrook Communications
Telephone:	[phone]
Email:	[e-mail]
Media enquiries (Apax Partners LLP)
Alex Wessendorff
Telephone:	[phone]
Email:	[e-mail]
Company Secretary
Matt Horton/Jacques Colley, Aztec Group
Telephone:	[phone]
Email:	[e-mail]

Notes

1. The information presented herein is not an offer for sale within the United States of any equity shares or other securities of 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, the Ordinary Shares have not been and will not be registered under the Securities Act or any other applicable law of the United States. Consequently, the Ordinary 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 Ordinary Shares is being made in the United States.

About AGA

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^th 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 (NAV), once fully invested. On 5 April 2016, the Company paid a semi-annual dividend of 3.69 pence per share which, on a pro forma annualised basis, represents a 6.2% dividend yield to the closing share price of the Company on 13 June 2016.

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.  The Company's portfolio is expected to be allocated in approximately equal proportions between Private Equity and Derived Investments, although the investment mix will fluctuate over time due to market conditions, investment opportunities, cashflow requirements, the dividend policy and other factors.

About Apax Partners LLP

Apax Partners LLP ("Apax Partners") is a leading global private equity advisory firm. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over €34 billion in aggregate as at 31 March 2016. Funds advised by Apax Partners invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long‐term equity financing to build and strengthen world‐class companies. For further information about Apax Partners, please visit www.apax.com.

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

 

END

 

 

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