Apax Global Alpha Limited Purchase of Ordinary Shares under IM Agreement (1851F)
March 17 2022 - 10:59AM
UK Regulatory
TIDMAPAX
RNS Number : 1851F
Apax Global Alpha Limited
17 March 2022
Apax Global Alpha Limited ("AGA" or the "Company")
Purchase of Ordinary Shares under Investment Management
Agreement
Further to the announcement of AGA's Annual Results on 2 March
2022, the Board of the Company announces that, in accordance with
the terms of the Company's investment management fee arrangements
with Apax Guernsey Managers Limited (the "Investment Manager"),
3,441,333 Ordinary Shares have been acquired in the secondary
market to satisfy the performance fee payable to the Investment
Manager as at 31 December 2021 (the "Performance Shares"). The
Performance Shares were acquired at an average price of 203.09
pence per share.
Under the terms of the Investment Management Agreement, the
total amount of any performance fee will be payable to the
Investment Manager in Ordinary Shares. The Investment Manager may
transfer all or a portion of the Performance Shares to certain
individuals of the Apax Group. Any Performance Shares awarded to
the Investment Manager, and any transferred to individuals of the
Apax Group, shall, save in the event of certain limited
circumstances such as to fund the payment or discharge of any
liability to tax or social security payments arising, not be sold
or otherwise transferred or disposed of for a minimum period of 12
months.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor relations Company secretary
Katarina Sallerfors Lewis Germain
Telephone: +44 (0)20 Telephone: +44 (0)
7666 6526 1481 749 700
Email: Katarina.Sallerfors@apax.com Email: AGA-admin@aztecgroup.co.uk
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" or "the
Investment Adviser"
2. 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.
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. 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, cash flow requirements, the
dividend policy and other factors. 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 is authorised and regulated by the
Financial Conduct Authority in the UK.
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