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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END

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March 17, 2022 11:59 ET (15:59 GMT)

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