(LSE: APAX)
Apax Global Alpha
Limited
Retirement of Tim Breedon
from the Board
Further to the announcement on 2 October 2023,
Apax Global Alpha Limited ("AGA" or the "Company") confirms that
with effect from 1 July 2024, Tim Breedon CBE will retire from his
position as Chairman and Director of the Company as part of
succession planning and board rotation. Tim who has been Chairman
of AGA for nine years, since its Initial Public Offering in 2015,
has been instrumental in overseeing the Company's growth during
that period.
As previously announced Karl Sternberg, who was
formally appointed to the Board of AGA with effect from 1 March
2024, will succeed Tim as Chairman, effective 1 July 2024. In
taking over the role of Chairman, Karl will also step down as a
member of the Audit Committee. Karl has significant investment
trust experience, and he is currently Chairman of Clipstone
Industrial REIT plc and Monks Investment Trust plc.
Commenting on
Tim's retirement from the Board, Karl Sternberg
said: "In his role as Chairman of AGA, Tim has
overseen the Company's strategic direction since its IPO in 2015.
During that time, AGA has grown Adjusted Net Asset Value from €878m
at 30 June 2015 to €1.3bn at 31 March 2024. The Board would like to
express its gratitude for his contribution."
Contact details
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Katarina Sallerfors, Investor Relations -
AGA
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Telephone: +44 207 666 6526
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Email:
Katarina.sallerfors@apax.com
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Notes
1. Note that references in this
announcement to Apax Global Alpha Limited have been abbreviated to
"AGA" or "the Company".
2. This announcement is 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.
About Apax Global Alpha
Limited
AGA is a Guernsey registered closed-ended
investment Company listed on the London Stock Exchange. 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).
The investment policy of the Company is to make
Private Equity investments in Apax Funds, and Debt Investments,
derived from the insights gained via Apax's Private Equity
activities.
Further information regarding the Company and
its publications are available on the Company's website at
www.apaxglobalalpha.com.