9 November 2021
APQ Global Limited
("APQ Global" or the "Company")
Repurchase of Convertible Preference Shares
Cancellation of Warrants
APQ Global Limited, a company incorporated in Guernsey, announces the Repurchase of Convertible Preference Shares and Cancellation of Warrants, both of which were issued as part consideration for the acquisition of Parish Group in January 2020 (the "Acquisition").
Repurchase of CPS
The Company's wholly owned subsidiary, APQ Capital Services Limited, intends to repurchase all Convertible Preference Shares (convertible into ordinary shares in APQ Global) ("CPS"), issued as part of the Acquisition (the "Repurchase").
Following this announcement, an offer is expected to be made to repurchase all 268,000 CPS for 2.9851 US cents per CPS.
Total consideration for the Repurchase is approximately $0.8 million, a consideration that is accretive to the book value of the Company's ordinary shares. Further, the Repurchase will reduce the Company's overall gearing.
Cancellation of Warrants
Further, APQ Global, with the consent of Warrant holders, intends to cancel all of the Company's 1,000,000 Warrants (convertible into ordinary shares in APQ Global), also issued as part of the Acquisition (the "Cancellation").
TISE Listing
Both the CPS and Warrants are currently listed on The International Stock Exchange (TISE), however, following the completion of the Repurchase and Cancellation, a de-listing application will be made to The International Stock Exchange Authority.
For further enquiries, please contact:
| APQ Global Limited | 020 3478 9708 |
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| Singer Capital Markets - Nominated Adviser and Broker | 020 7496 3000 |
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| Carey Group - TISE sponsor | 01481 737 279 |
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| Investor Relations | |
IR@APQGlobal.com
Notes to Editors
APQ Global Limited
APQ Global (ticker: APQ LN) is an investment company incorporated in Guernsey. The Company focuses its investment activities globally (in Asia, Latin America, Eastern Europe, the Middle East, Africa and the Channel Islands, particularly).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 as well as earning revenue from income generating operating activities in capital markets1. APQ Global run a well-diversified and liquid portfolio, take strategic stakes in selected businesses and plan to take operational control of companies through the acquisition of minority and majority stakes in companies with a focus on emerging markets. For more information, please visit apqglobal.com.
1 Where we refer to revenue from income generating operating activities this relates to the revenue of our investee companies.
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