Retirement of Tim Breedon from the Board
Updated : 07:01
(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
Katarina Sallerfors, Investor Relations - AGA |
Telephone: +44 207 666 6526 |
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.
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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.
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