Apq Global 25 Discussion Threads

[davebowler] 19/8/2024 07:46

RNS Number : 6988P
APQ Global Limited
24 May 2024



APQ Global Limited

("APQ Global" or the "Company")



Book value report

APQ Global is a company incorporated in Guernsey (company registration number 62008) which is listed on The International Stock Exchange and admitted to trading on AIM.

The Company hereby announces that as at the close of business on 29th March 2024, the unaudited book value per Ordinary Share was 29.95 US Dollar cents, equivalent to 23.71 Pounds Sterling pence.

At the end of 29th March 2024, the Company held approximately US Dollar 14.2 million in cash. APQ Global also anticipates receipt of significant cashflows from ongoing transactions within its portfolio of investments over the next 6 months, driven by the continuing strong trading performance in wholly owned US-based capital raising and transaction advisory business Delphos International, from which a substantial proportion of this cash is anticipated to be generated. Delphos International benefits from a diversified portfolio of mandated transactions in execution across multiple sectors globally.

The Board remains committed to the full repayment of CULS, which are due to mature in September. It is also cognisant that, given the nature of Delphos International's mandates, there are external factors that may impact on the timing of receipt of the associated anticipated cash flows to the Company, which may in turn require the Board to seek alternative solutions for the CULS.

The 30 June 2024 unaudited book value will be released in July 2024.

[davebowler] 14/9/2017 10:01

From placing doc;

APQ was admitted in August 2016 to both Channel Islands Stock Exchange (CISX) and AIM via an institutional placing raising £78m
Investment objective is to invest in a combination of growing businesses in emerging markets as well as generating operating activities to achieve a target income yield of 6% per annum
Experienced management team behind APQ, managed APQ Alexandria Fund since May 2013, led by Bart Turtelboom who was Co-Head of Emerging Markets business at GLG and Morgan Stanley
Bart has invested approx. £22m of his own personal wealth within APQ and currently owns 28.2%
Focused corporate strategy with three pronged approach:
Direct lending activities to emerging market entities including sovereign, corporate and banking activities
Strategic stakes in emerging market private and public entities
Acquisition and operation of real estate and commodity companies

CULs Issue - Key Terms
Expected Issue Size - £20 - £25m
Issue Date – June /July 2017
Final Maturity – June 2024
Conversion Price – 10% premium to book value
Conversion Dates – Quarterly 31 March, 30 June, 30 September, 31 December
Coupon – 3.5% p.a. paid quarterly (commencing December 2017
Gearing restriction – APQ total indebtedness shall not exceed 50% of Book Value at time of issue
Capital Covenant Ratio – Capital Value of CULs will be covered by Book Value by at least 1.5x, and will be measured on 30 June and 31 December each year. If breached, there shall be no share buybacks or further distributions to Ordinary shareholders until breach is remedied#
Issuer Call – After 3 years, if Ordinary share price of APQ is 20% above Conversion Price for 20 days during 30 consecutive trading days, the Company shall have the right to redeem the CULs at Redemption Price plus accrued interest. In this event the CULs holders shall have 20 days to convert the note at the Conversion Price
Clean up Provision – If 80% of the CULs holders have exercised their right to convert at the next Conversion Date

[davebowler] 14/9/2017 09:59

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