REG - Public Policy Hldg - Alpine Loan Repayment

Public Policy HoldingAnnouncement

03/02/2025 15:45

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RNS Number : 7172V  Public Policy Holding Company, Inc.  03 February 2025

 

3 February 2025

 

Public Policy Holding Company, Inc.

("PPHC", the "Company" or the "Group")

 

Alpine Loan Repayment & Related Party Transaction,

Share Cancellation & Total Voting Rights

 

Public Policy Holding Company, Inc. (AIM: PPHC), the leading government
relations and public affairs group, announces that it has today agreed to, and
completed, a repayment arrangement with its shareholder, AG Holdings, Inc.,
formerly known as The Alpine Group, Inc. ("Alpine"), in respect of a term note
entered into between PPHC and Alpine on 13 December 2021 (the "Term Note").

 

Term Note Repayment

 

As disclosed in the Group's  Admission Document in connection with its IPO on
AIM in December 2021, the Term Note was executed to memorialize PPHC's
agreement to provide Alpine with a one-time loan in an amount not to exceed
$750,000 in connection with certain US federal, state and local income taxes
incurred by Alpine in connection with Alpine's sale of certain PPHC common
shares as part of the placing associated with the Group's IPO. This loan from
PPHC to Alpine was drawn down in the amount of $513,000, accrued interest at a
market rate, and was repayable on 16 January 2025, secured by all PPHC common
shares owned by Alpine.

 

The amount outstanding and repayable immediately prior to this announcement
was $532,451.25 (including principal and accrued interest). The Group has
agreed to accept full payment of this amount in 316,779 PPHC common shares,
each at a price of £1.3515 (the "Repayment Shares"), in lieu of cash. The
Repayment Shares have been transferred by Alpine and received by the Group,
and consequently, all obligations under the Term Note, including repayment,
have  been satisfied.

 

Application has been made for the cancellation of the 316,779 Repayment Shares
which is expected to take place at or around 8.00 a.m. on 4 February 2025.

 

Total Voting Rights

 

Following this cancellation and retirement of shares, the Company's total
issued and voting share capital will consist of 119,771,203 common shares.
This figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, securities of the Company.

 

Related Party Transaction

 

As a substantial shareholder of the Company immediately prior to the repayment
of the Term Note, Alpine is deemed to be a related party under the AIM Rules
for Companies (the "AIM Rules") and, as such, the repayment of the Term Note
constitutes a related party transaction for the purposes of Rule 13 of the AIM
Rules.

 

The Directors of the Group consider, having consulted with Stifel, the
Company's nominated adviser, that the terms of the transaction are fair and
reasonable insofar as its shareholders are concerned.

 

Enquiries

 

 Public Policy Holding Company, Inc.             +1 (202) 688 0020

 Stewart Hall, CEO

 Roel Smits, CFO

 Stifel (Nominated Adviser & Joint Broker)       +44 (0) 20 7710 7600

 Fred Walsh, Ben Good, Sarah Wong

 Zeus Capital (Joint Broker)                     +44 (0) 20 3829 5000

 David Foreman

 Canaccord Genuity (Joint Broker)                +44 (0) 20 7523 8000

 Simon Bridges, Andrew Potts

 Burson Buchanan (Media Enquiries)               +44 (0) 20 7466 5000

                                               pphc@buchanan.uk.com (mailto:pphc@buchanan.uk.com)
 Chris Lane, Toto Berger, Jesse McNab

 

About PPHC

 

Incorporated in 2014, PPHC is a US-based government relations and public
affairs group providing clients with a fully integrated and comprehensive
range of services including government and public relations, research, and
digital advocacy campaigns. Engaged by approximately 1,200 clients, including
companies, trade associations and non-governmental organisations, the Group is
active in all major sectors of the US economy, including healthcare and
pharmaceuticals, financial services, energy, technology, telecoms and
transportation. PPHC's services support clients to enhance and defend their
reputations, advance policy goals, manage regulatory risk, and engage with US
federal and state-level policy makers, stakeholders, media, and the public.

 

PPHC operates a holding company structure and currently has ten operating
entities in the US and UK. Operating in the strategic communications market,
the Group has a strong track record of organic and acquisitive growth, the
latter focused on enhancing its capabilities and to establish new verticals,
either within new geographies or new related offerings.

 

For more information, see www.pphcompany.com (http://www.pphcompany.com/) .

 

 

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