RCS - EPIC Acquisition - Result of EGM

Euronext NVAnnouncement

21/04/2023 18:15

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RNS Number : 1164X  EPIC Acquisition Corp  21 April 2023

AMSTERDAM - 21 April 2023 / EPIC Acquisition Corp (the "Company") announces
that the shareholders of the Company have today approved the Extension
Proposal (as described in the shareholder circular published on 30 March 2023
(the "Circular") by special resolution at an extraordinary general meeting of
the Company.

The Company's board of directors is currently considering the 13,179,835 Class
A Ordinary Shares tendered for redemption during the Pre-Extension Redemption
Period (equating to €131.8 million of capital based on the IPO price per
unit of EUR 10.00), and on the basis of this consideration will determine
whether or not to exercise the Board Non-Extension Decision. This right to
exercise the Board Non-Extension Decision will lapse if it is not exercised by
17:00 CET on 24 April 2023. If the Board Non-Extension Decision lapses without
having been exercised, 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.

If the Board exercises the Board Non-Extension Decision, the Extension
Proposal will not be implemented and consequently: (i) the Initial Business
Combination Deadline will not be extended; (ii) the Revised Share Redemption
Arrangement will not be implemented, and accordingly the Class A Ordinary
Shares tendered for redemption during the Pre-Extension Redemption Period will
not be redeemed; and (iii) the Article Amendments will not become effective.
If the Company then fails to complete a Business Combination by the Initial
Business Combination Deadline, it will redeem all Class A Ordinary Shares for
an amount which is anticipated to be €10.32 per Class A Ordinary Share prior
to liquidation in accordance with the Company's existing articles of
association.

If the Board exercises the Board Non-Extension Decision on or prior to 24
April 2023, the Company will announce this decision by press release. If the
Board Non-Extension Decision lapses without having been exercised, the Company
will announce this by press release on 24 April 2023.

Further information and the meanings of any capitalised terms (unless
otherwise herein defined) can be found in the 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.

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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