RCS - EPIC Acquisition - Board Non-Extension Decision

Euronext NVAnnouncement

24/04/2023 19:15

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RNS Number : 2851X  EPIC Acquisition Corp  24 April 2023

 

AMSTERDAM - 24 April 2023 17:05 CET / EPIC Acquisition Corp (the "Company")
announces that the Company's board of directors have not exercised the Board
Non-Extension Decision, which lapsed at 17:00 CET on 24 April 2023.

As a result, the Extension Proposal comprised of the following inter-linked
steps will be implemented: (i) the Initial Business Combination Deadline will
be extended by the First Extension (the Initial Business Combination Deadline,
subject to any extensions, the "Business Combination Deadline") and the Board
will be entitled to further extend the Business Combination Deadline pursuant
to the Board Extension Right; (ii) the Revised Share Redemption Arrangement
pursuant to which the Class A Ordinary Shares tendered for redemption during
the Pre-Extension Redemption Period will be redeemed on 25 April 2023 in
accordance with the terms of the Revised Share Redemption Arrangement; (iii)
the Positive Interest Treatment; (iv) the Overfunding Redemption and (v) the
Article Amendments will become effective.

In order to allow sufficient time for the aggregate redemption amount to be
withdrawn from the Escrow Account, it is expected that ABN AMRO will make
payment to shareholders' financial intermediaries of the gross redemption
price for redeemed Ordinary Class A Shares (such redemption price anticipated
to be around €10.32 per Ordinary Class A Share), within three business days
following the Initial Business Combination Deadline. The timing of receipt of
payment by shareholders will in turn depend on such financial intermediaries.

Further information and the meanings of any capitalised terms (unless
otherwise herein defined) can be found in the shareholder circular published
on the Company's website on 30 March 2023:

https://www.epicacquisitioncorp.com/investorrelations
(https://www.epicacquisitioncorp.com/investorrelations)

About EPIC Acquisition Corp

EPIC Acquisition Corp was admitted to listing and trading on Euronext
Amsterdam on 6 December 2021, raising €150 million.

The Company is sponsored by EAC Sponsor Limited (the "Sponsor"), which is
jointly led by EPIC Investment Partners ("EPIC"), a UK headquartered
investment, advisory and administration firm which has 20 years' experience of
using publicly listed vehicles to make private equity investments, and TTB
Partners ("TTB"), a Hong Kong-based investment and advisory business, which
has extensive local relationships across Asia and a strong track record of
helping global brands access and develop in Asian markets.

The leadership team of the Sponsor is comprised of Giles Brand and James
Henderson of EPIC, Teresa Teague, the co-founder of TTB, and Peter Norris, the
chairman of the Virgin Group (collectively, the "Leadership Team"). Giles
Brand is the founder and Managing Partner of EPIC. Before founding TTB, Teresa
Teague was a Partner at Goldman Sachs and most recently Co-Head of the
Consumer and TMT Groups in Asia ex. Japan.

The leadership team is supported by dedicated teams within EPIC and TTB. The
combined platforms of EPIC and TTB span the UK, Hong Kong, Guernsey, Ireland
and India and include c.250 employees, with 30 investment and advisory
professionals.

The Sponsor was formed to provide the Company with institutional leadership
and resources, combining private equity and public markets investing
experience, broad and highly active deal sourcing networks in Europe and Asia,
operational leadership in the consumer sector and a deep and proven
understanding of how global companies can succeed in Asian markets.

DISCLAIMER

This press release contains information that qualifies as inside information
within the meaning of Article 7(1) of the EU Market Abuse Regulation.

ENQUIRIES

For more information, visit www.epicacquisitioncorp.com
(http://www.epicacquisitioncorp.com) or contact:

James Henderson

james.henderson@epicip.com (mailto:james.henderson@epicip.com)

EPIC Investment Partners, Audrey House, 16-20 Ely Place, London EC1N 6SN

Chris Scoular

chris.scoular@ttbpartners.com

TTB Partners, 11/ F Winsome House, 73 Wyndham Street, Central, Hong Kong

 

 

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