APQ Global Limited
("APQ Global" or the "Company")
Book value report
APQ Global is an emerging markets growth 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 31 January 2020, the unaudited book value per Ordinary Share was 89.04 US Dollar cents*, equivalent to 67.55 Pounds Sterling pence. This figure includes the accrual for the 1.5 Pound Sterling pence dividend (2.0 US Dollar cent equivalent**) declared on 23 January 2020 and payable on the 2 March 2020.
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*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 1 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. Additionally, on January 28th, 2020, the Group issued 1,000,000 Warrants and 268,000 Convertible Preference Shares (CPS). Under IFRS, the Warrants and the CPS are also Financial Instruments and have been accounted for per the above guidance. The Fair Value of the Warrants has been calculated using the Black-Scholes Model and taken to equity. 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 January 31st, 2020, the total shares issued under the scheme amounted to 212,625.
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 therefor 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.
**USD Carrying Value at 31 January 2020