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.
- End -
Enquiries:
ir@apqglobal.com
IMPORTANT INFORMATION
Important Notice:
*The term 'book value' herein
includes the assets of APQ Global and its subsidiaries net of any
liabilities. The figure in this announcement is an estimate and is
based on unaudited estimated valuations in accordance with the
Company's valuation policy as stated in the Company's AIM Admission
Document. The Group has measured its private investments in
accordance with IFRS 9 Financial Instruments. In September 2017,
APQ Global Ltd issued 4,018 units of £5,000 nominal 3.5 per cent
convertible unsecured loan stock 2024 ("CULS") to raise £20.09
million. In January 2018, APQ Global Ltd issued a further 1,982
CULS units at a price of £5,150 per £5,000 nominal to raise £10.21
million. Under IFRS, the CULS is a financial instrument and has
been accounted for under IAS 32 Financial
Instruments: Presentation and IFRS 9 (as effective for periods
beginning on or after 1st January 2018). Therefore, the fair value
of the CULS liability component has been calculated, with the
difference between this and the fair value of the compound
financial instrument as a whole being taken to equity. Following completion of the buy back and cancellation of CULS
in April 2023, there are currently 5,920 units of CULS outstanding.
Additionally, on January 28th, 2020, the Group issued 1,000,000
Warrants and 268,000 Convertible Preference Shares (CPS). In
October 2021, the Group entered into an agreement to repurchase the
entire amount of CPS and cancel all of the warrants outstanding.
Under IFRS, the Warrants and the CPS were also Financial
Instruments and were accounted for per the above guidance. This
figure also includes the amounts awarded in accordance with the
Company's Share-Based compensation scheme as adopted by the board
on 19th April 2017 and accounted for in accordance with IFRS 2.
Shares awarded under the scheme vest quarterly across 5 years. As
of 29th March 2024, the total shares issued under the
scheme amounted to 504,983.
Estimated results, performance or
achievements may differ materially from any actual results,
performance or achievements. No person has authority to give any
representations or warranties (express or implied) as to, or in
relation to, the accuracy, reliability or completeness of the
information in this release, and all liability therefore is
expressly disclaimed. Accordingly, none of the Company, the
Corporate Services Provider or any of its/their respective members,
directors, officers, agents, employees or advisers take any
responsibility for, or will accept any liability whether direct or
indirect, express or implied, contractual, tortious, statutory or
otherwise, in respect of, the accuracy or completeness of the
information or for any loss, howsoever arising, from the use of
this release. Except as required by applicable law, the Company
expressly disclaims any obligations to update or revise the above
estimates to reflect any change in expectations, new information,
subsequent events or otherwise.
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.
1 Where we refer to revenue from income generating operating
activities this relates to the revenue of our investee
companies.