Result of EGM & CULS Holder Meeting
APQ Global Limited
("APQ Global" or the "Company")
Result of Extraordinary General Meeting and CULS Holders Meeting
APQ Global Limited, a company incorporated in Guernsey, announces the results of the extraordinary general meeting of the shareholders (the "Extraordinary General Meeting") relating to the cancellation of admission of the ordinary shares of no par value ("Ordinary Shares") to trading on AIM (the "Cancellation") and the meeting of the holders of 3.5 per cent. convertible loan stock 2024 (the "CULS") relating to amendments to the trust deed constituting the CULS to permit the cancellation of the Company's admission to trading on AIM and to modify the terms of the CULS, each held on 31 March 2025. Details of the proposals were set out in the circular published by the Company on 6 March 2025 (the "Circular").
Words and expressions defined in the Circular have the same meanings when used in this announcement unless otherwise defined or the context otherwise requires.
The Company is pleased to announce that the special resolution proposed at the Extraordinary General Meeting was passed with 99.9% of votes cast in favour, and the resolutions at the Meeting of the CULS Holders were both passed, with 100.0% of votes cast in favour.
Cancellation
Following approval by Shareholders at the Extraordinary General Meeting, Cancellation is expected to become effective at 7:00 a.m. on 8 April 2025 and, accordingly, the last day of dealings in Ordinary Shares on AIM is expected to be 7 April 2025.
Following Cancellation, shareholders in the Company will continue to be able to effect transactions in the Company's Ordinary Shares on TISE.
Undertakings to CULS Holders
The Company also announces that it has undertaken to CULS holders, by way of addition and/or modification to the undertakings contained in paragraph 6 of the Circular, as follows. Additional Interest will be paid quarterly on 31 March, 30 June, 30 September, and 31 December. Monthly updates will be provided within 10 days of each month-end, covering cash flows, cash position, working capital, cash movements, and updated inflow forecasts. The Company will also provide audited annual accounts (31 Dec) and unaudited half-year accounts (30 June). No Financial Indebtedness ranking above the CULS will be incurred unless it fully satisfies CULS obligations and Additional Interest. From 1 April to 30 June 2025, cash reserves above $5 million will be used to redeem CULS once per month, and from 1 July 2025 to the Deferred Settlement Date, excess cash above $3 million will be applied similarly. These additional and/or modified undertakings have effect until the Deferred Settlement Date and reinforce the Company's commitment to transparency and financial discipline.
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For further enquiries, please contact:
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APQ Global Limited |
020 3478 9708 |
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Singer Capital Markets - Nominated Adviser and Broker |
020 7496 3000 |
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Suntera - TISE sponsor |
01481 737 279 |
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Investor Relations IR@APQGlobal.com |
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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 markets1. 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.
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