REG - APQ Global Limited - Repurchase of Convertible Preference Shares

APQ GlobalAnnouncement

09/11/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211109:nRSI7194Ra&default-theme=true

RNS Number : 7194R  APQ Global Limited  09 November 2021

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
 Bart Turtelboom

 Singer Capital Markets - Nominated Adviser and Broker  020 7496 3000
 James Maxwell / Justin McKeegan

 Carey Group - TISE sponsor                             01481 737 279
 Claire Torode

 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 markets(1.) 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 (http://www.apqglobal.com/) .

1 Where we refer to revenue from income generating operating activities this
relates to the revenue of our investee companies.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUWUWRANUARAA