Apax Global Alpha Ld - Retirement of Tim Breedon from the Board

Apax Global Alpha

26/06/2024 07:00

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RNS Number : 8637T  Apax Global Alpha Limited  26 June 2024

(LSE: APAX)

 

Apax Global Alpha Limited

 

Retirement of Tim Breedon from the Board

 

Further to the announcement on 2 October 2023, Apax Global Alpha Limited
("AGA" or the "Company") confirms that with effect from 1 July 2024, Tim
Breedon CBE will retire from his position as Chairman and Director of the
Company as part of succession planning and board rotation. Tim who has been
Chairman of AGA for nine years, since its Initial Public Offering in 2015, has
been instrumental in overseeing the Company's growth during that period.

 

As previously announced Karl Sternberg, who was formally appointed to the
Board of AGA with effect from 1 March 2024, will succeed Tim as Chairman,
effective 1 July 2024. In taking over the role of Chairman, Karl will also
step down as a member of the Audit Committee. Karl has significant investment
trust experience, and he is currently Chairman of Clipstone Industrial REIT
plc and Monks Investment Trust plc.

 

Commenting on Tim's retirement from the Board, Karl Sternberg said: "In his
role as Chairman of AGA, Tim has overseen the Company's strategic direction
since its IPO in 2015. During that time, AGA has grown Adjusted Net Asset
Value from €878m at 30 June 2015 to €1.3bn at 31 March 2024. The Board
would like to express its gratitude for his contribution."

 

Contact details

 

 Katarina Sallerfors, Investor Relations - AGA
 Telephone:  +44 207 666 6526
 Email: Katarina.sallerfors@apax.com

 

Notes

 

1.   Note that references in this announcement to Apax Global Alpha Limited
have been abbreviated to "AGA" or "the Company".

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 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).

 

The investment policy of the Company is to make Private Equity investments in
Apax Funds, and 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
(http://www.apaxglobalalpha.com) .

 

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