Apax Global Alpha Limited Directorate Changes (Correction) (2827D)

TIDMAPAX

RNS Number : 2827D

Apax Global Alpha Limited

05 July 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES OR TO "US PERSONS" (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")) OR INTO OR WITHIN AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN. RECIPIENTS OF THIS ANNOUNCEMENT IN JURISDICTIONS OUTSIDE THE UK SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY APPLICABLE LEGAL REQUIREMENTS IN THEIR JURISDICTIONS. IN PARTICULAR, THE DISTRIBUTION OF THE ANNOUNCEMENT MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS.

Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company". References to Apax Partners LLP have been abbreviated to "Apax Partners" or "the Investment Adviser"

FOR IMMEDIATE RELEASE

5 July 2016

(LSE: APAX)

Apax Global Alpha Limited

Directorate Changes (Correction)

The announcement released by the Company entitled Directorate Changes on 1 July 2016 stated that Mrs Evans (or any person that may be a connected party to Mrs Evans) has no beneficial interest in the shares of the Company at the date of that announcement.

The Company has since been informed that Mr Huw Evans, the husband of Mrs Evans, acquired 20,000 ordinary shares in the Company on 9 June 2016 which are held through a nominee arrangement with Barclayshare Nominees Limited.

All other details of the announcement remain unchanged. The full text of the amended announcement is shown below.

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Appointment of Director - Sarah Evans

The Directors are pleased to announce that Mrs Sarah Evans has accepted an invitation to join the Board as a non-executive Director and member of its Audit Committee, with effect from 1 July 2016.

Mrs Evans, resident in Guernsey, is a Chartered Accountant and a non-executive director of several other listed investment funds (see below). Mrs Evans is a member of the Institute of Directors and a director of the UK Investment Companies' trade body, The Association of Investment Companies. Further information on Mrs Evans will shortly be made available on the Company's website.

Pursuant to section 9.6.13(1) of the UKLA Listing Rules, Mrs Evans holds or has held (within the previous five years) the following directorships in publicly quoted companies:

 
 Company                                      Date Appointed   Date Resigned 
 Real Estate Credit Investments PCC Limited   July 2016 
 NB Distressed Debt Investment Fund Limited   October 2015 
 JPMorgan Senior Secured Loan Fund Limited    December 2013 
 CQS Diversified Fund Limited                 November 2010    March 2015 
 Harbourvest Senior Loans Europe Limited      May 2010         November 2014 
 HICL Infrastructure Company Limited          June 2008 
 Crystal Amber Fund Limited                   June 2007 
 

Pursuant to section 9.6.13(3) of the UKLA Listing Rules, Mrs Evans was an executive director of Brimbul Limited, at the time of, or 12 months preceding, its members' voluntary liquidation in 1995.

Mr Huw Evans, the husband of Mrs Evans, acquired 20,000 ordinary shares in the Company on 9 June 2016 which are held through a nominee arrangement with Barclayshare Nominees Limited.

There are no further details required to be disclosed pursuant to section 9.6.13 of the UKLA Listing Rules.

Resignation of Director - Steve Le Page

The Directors wish to announce that, with effect from, and conditional upon, the appointment of Mrs Evans, Mr Steve Le Page will resign as a non-executive Director of the Company and chairman of its Audit Committee.

Director Change of Responsibility - Susie Farnon

The Directors wish to announce that, with effect from, and conditional upon, the appointment of Mrs Evans and resignation of Mr Le Page, Mrs Susie Farnon will assume the role of chairman of the Audit Committee, having been a member of the Audit Committee since 22 July 2015.

The terms of appointment for Mrs Farnon will be on the same basis as those previously agreed with Mr Le Page.

Contact details

 
 Investor Relations 
 Sarah Wojcik 
 Telephone:          [phone] 
 Email:              [e-mail] 
 
 Media enquiries (Apax Global Alpha Limited) 
 Georgiana Brunner/Matthew Goodman/Annabel Clay, Greenbrook Communications 
 Telephone:          [phone] 
 Email:              [e-mail] 
 
 Media enquiries (Apax Partners LLP) 
 Alex Wessendorff 
 Telephone:          [phone] 
 Email:              [e-mail] 
 
 Company Secretary 
 Matt Horton/Jacques Colley, Aztec Group 
 Telephone:          [phone] 
 Email:              [e-mail] 
 

About Apax Global Alpha Limited

AGA is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.

AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value (NAV), once fully invested.

The investment policy of the Company is to make private equity investments in Apax Funds and Derived Investments which are investments in equities and debt derived from the insights gained via Apax Partners' Private Equity activities. The Company's portfolio is expected to be allocated in approximately equal proportions between Private Equity and Derived Investments, although the investment mix will fluctuate over time due to market conditions, investment opportunities, cashflow requirements, the dividend policy and other factors.

Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com

About Apax Partners LLP

Apax Partners is a leading global private equity advisory firm. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over EUR34 billion in aggregate as at 31 March 2016. Funds advised by Apax Partners invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long--term equity financing to build and strengthen world--class companies. For further information about Apax Partners, please visit www.apax.com.

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 05, 2016 07:23 ET (11:23 GMT)