Admission to trading on AIM

RNS Number : 1940I

APQ Global Limited

26 August 2016

 

26 August 2016

APQ Global Limited

("APQ" or the "Company")

Admission to trading on AIM

APQ Global Limited (AIM: APQ) is pleased to announce that the entire issued share capital of the Company will today be admitted to trading on the AIM market of the London Stock Exchange ("Admission"), with dealings expected to commence at 8.00 a.m. APQ's admission document, prepared in connection with Admission, is available to download from the Company's website, www.apqglobal.com.

The Ordinary Shares are also admitted to trading on the Official List of the Channel Islands Securities Exchange Authority Limited (the "CISE"). The Company's Ordinary Shares were admitted to the CISE on 11 August 2016 with a market capitalisation of £78.1 million, including £60.9 million raised by way of a placing with institutional and other investors. N+1 Singer is acting as nominated adviser and broker to the Company.

The total number of Ordinary Shares in issue is 78,055,000, which will trade under the ticker APQ.

Bart Turtelboom, Non-Executive Chairman, commented:

"The listing of APQ Global on the Channel Islands Securities Exchange and the admission to AIM is a key milestone in the development of our Company. APQ Global's management team is of the view that emerging markets will offer tremendous opportunities in the years ahead. We believe that our business strategy is well-placed to pay a six per cent. dividend and deliver substantial growth in the book value of the Company to our shareholders."

For further enquiries, contact:

APQ Global Limited Bart Turtelboom	020 3478 9708
N+1 Singer - Nominated Adviser and Broker Gillian Martin / James Maxwell / Lauren Kettle	020 7496 3000
Carey Group - CISE sponsor Matt Sarl / Chris Trudgeon	01481 737 279

The Company's business

The objective of the Company is to steadily grow its earnings to seek to deliver attractive returns and capital growth through a combination of building growing businesses in emerging markets as well as earning revenue from income generating operating activities.

The Company will focus its activities in emerging markets globally (in Asia, Latin America, Eastern Europe, the Middle East and Africa). The Company intends to:

(i)    develop lending activities to sovereign, corporate and banking entities in emerging markets for a range of business purposes, including for acquisition financing, working capital and investment purposes. The terms of any loans will vary but are typically expected to range from six months to five years. The Company expects that its loans will typically be secured;

(ii)    take operational control of businesses through the acquisition of minority and majority stakes in public and private companies in emerging markets; and

(iii)   acquire and operate real estate and commodity companies.

Dividend policy

The Company will target an annualised dividend yield of 6 per cent. per annum based on the price at which the Company's Ordinary Shares were issued under the above-mentioned placing, being 100p per Ordinary Share**. Dividends are expected to be payable in respect of each calendar quarter, payable in the month following the end of such quarter.

^{** This is a target only and not a profit forecast and there can be no assurance that the target dividend will be met.}

The board of directors

Bart Turtelboom (aged 50) (Non-Executive Chairman)

Bart is the co-founder and Chief Investment Officer of APQ Partners LLP. Prior to APQ Partners LLP, Bart was Co-Head of the Emerging Markets business at GLG and Co-Portfolio Manager of the GLG emerging markets funds. He was previously the Global Co-Head of Emerging Markets at Morgan Stanley, where he ran a multi-billion US Dollar business spanning Asia, Latin America, the Middle East and Africa, and head of its Global Capital Markets Group. Prior to that Bart was a Portfolio Manager at Vega Asset Management and a Director at Deutsche Bank, where he held several roles culminating in coverage of the bank's largest European clients. Bart was an Economist for the International Monetary Fund in Washington D.C. from 1994 until 1997. Bart received a Ph.D. in Economics from Columbia University.

Wayne Bulpitt (aged 55) (Executive Director and CEO)

Wayne Bulpitt has around 35 years of experience in business leadership in banking, investment and administration services. Having left National Westminster Bank Plc in 1992 to join CIBC Bank & Trust Company, he developed and launched CIBC Fund Managers (Guernsey) Limited in 1994. As Managing Director, Wayne spent the next four years managing and developing the offshore funds and building a third party fund administration capacity.

In 1998 this experience was to prove crucial for the Canadian Imperial Bank of Commerce where, as Director of Offshore Investment Services Global Private Banking & Trust Division, his main priority was to restructure the delivery of their investment management services outside of Canada.

Wayne founded Active Group Limited in 2002 after his careers with NatWest and CIBC. Under his leadership, Active is an innovative provider of practical and professional support services such as compliance, corporate secretarial and management services to the offshore finance industry. Wayne is on the boards of various investment management companies and funds (both listed and un-listed), overseeing a diverse range of investment activities.

Richard Bray (aged 49) (Executive Director and Finance Director)

Richard Bray has over 30 years in depth experience in the fund and investment management sectors, including 13 years with a major Swiss financial institution. Richard has worked on a wide variety of investment vehicles, from relatively simple long only bond and equity funds, through to complex structured products and including private equity, commodity, derivative, and hedge funds of various strategies.

Richard sits on the boards of a variety of funds, investment management companies and fund administration companies acting in both executive and non-executive capacities. In these roles he has variously overseen the day to day operations, provided risk management advice and oversight, and overseen the investment activities of those entities.

Richard is a Member of the Chartered Management Institute and the Institute of Directors. He is also a member of administration and technical sub-committees of the Guernsey Investment Fund Association ("GIFA"). As part of the GIFA technical committee, Richard worked on the team that produced Guernsey's AIFM rules and regulations.

Philip Soulsby (aged 50) (Independent Non-Executive Director)

Philip Soulsby is a mathematics graduate. He qualified as a chartered accountant in London with BDO Binder Hamlyn, before transferring to KPMG in Guernsey in 1990. There he spent two years specialising in the audit of financial services companies and offshore mutual funds. In 1992 he joined Credit Suisse Fund Administration Limited in charge of finance and compliance, later moving to a role more involved in structuring and marketing mutual fund services, helping the business grow from 12 staff to over 130. During this time he acted as director to a number of funds and fund managers, and gained a broad knowledge of hedge funds, derivatives and risk control. In 2006, he left Credit Suisse to establish his own business, The Mundi Group Ltd, a fair-trade and ethical products business. He remains a director of several funds and fund management companies and is also Constable and Douzenier to the Parish of St Martin.

 

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