APQ Global Limited Repurchase of Convertible Preference Shares (7194R)
November 09 2021 - 2:00AM
UK Regulatory
TIDMAPQ
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
Bart Turtelboom 020 3478 9708
Singer Capital Markets - Nominated
Adviser and Broker
James Maxwell / Justin McKeegan 020 7496 3000
Carey Group - TISE sponsor
Claire Torode 01481 737 279
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 .
1 Where we refer to revenue from income generating operating
activities this relates to the revenue of our investee
companies.
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END
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