Apax Global Alpha Limited
Purchase of Ordinary Shares
under Investment Management Agreement
Further to the announcement
of Apax Global Alpha's ("AGA") Annual Results on 5 March 2024, 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"), 3,623,909
Ordinary Shares have been acquired in the secondary market in full
satisfaction of the 2023 performance fee payable to the Investment
Manager as at 31 December 2023 (the "Performance Shares"). The
Performance Shares were acquired at an average price of 154.6 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.
END
Contact details
Investor Relations - AGA
Katarina Sallerfors
T: +44 7436908492
E:
katarina.sallerfors@apax.com
Notes
1.
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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 Partners", "Apax", or "the Investment
Adviser"
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2.
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Please be advised that this
announcement may contain inside information as stipulated under the
Market Abuse Regulations (EU) NO. 596/2014 ("MAR")
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3.
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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
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4.
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The information presented herein is
not an offer for sale within the United States of any equity shares
or other securities of Apax Global Alpha Limited ("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, AGA's shares (the "Shares") have not been and will not be
registered under the Securities Act or any other applicable law of
the United States. Consequently, the 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 Shares
is being made in the United States
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5.
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This announcement may include
forward-looking statements. The words "expect", "anticipate",
"intends", "plan", "estimate", "aim", "forecast", "project" and
similar expressions (or their negative) identify certain of these
forward-looking statements. These forward-looking statements are
statements regarding AGA's intentions, beliefs or current
expectations concerning, among other things, AGA's results of
operations, financial condition, liquidity, prospects, growth and
strategies. The forward-looking statements in this presentation are
based on numerous assumptions regarding AGA's present and future
business strategies and the environment in which AGA will operate
in the future. Forward-looking statements involve inherent known
and unknown risks, uncertainties and contingencies because they
relate to events and depend on circumstances that may or may not
occur in the future and may cause the actual results, performance
or achievements of AGA to be materially different from those
expressed or implied by such forward looking statements. Many of
these risks and uncertainties relate to factors that are beyond
AGA's ability to control or estimate precisely, such as future
market conditions, currency fluctuations, the behaviour of other
market participants, the actions of regulators and other factors
such as AGA's ability to continue to obtain financing to meet its
liquidity needs, changes in the political, social and regulatory
framework in which AGA operates or in economic or technological
trends or conditions. Past performance should not be taken as an
indication or guarantee of future results, and no representation or
warranty, express or implied, is made regarding future performance.
AGA expressly disclaims any obligation or undertaking to release
any updates or revisions to these forward-looking statements to
reflect any change in AGA's expectations with regard thereto or any
change in events, conditions or circumstances on which any
statement is based after the date of this announcement, or to
update or to keep current any other information contained in this
announcement. Accordingly, undue reliance should not be placed on
the forward-looking statements, which speak only as of the date of
this announcement.
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About Apax Global Alpha Limited
AGA is a Guernsey registered
closed-ended investment Company listed on the London Stock
Exchange. 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 Company makes Private Equity
investments in Apax Funds, and has a portfolio of primarily debt
investments, derived from the insights gained via Apax's Private
Equity activities.
Further information regarding the
Company and its publications are available on the Company's website
at www.apaxglobalalpha.com.
About Apax
Apax Partners LLP ("Apax") is a
leading global private equity advisory firm. For 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 $65 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.