APAX Apax Global Alpha

Hardman & Co Research on Apax Global Alpha (APAX): CM day: further proof of value added by Apax

Hardman & Co Research
Hardman & Co Research on Apax Global Alpha (APAX): CM day: further proof of value added by Apax

10-Jul-2024 / 10:42 GMT/BST
The issuer is solely responsible for the content of this announcement.

Hardman & Co Research on Apax Global Alpha (APAX):

CM day: further proof of value added by Apax

 

The key messages from APAX’s well-received 2024 and were: i) a new capital allocation policy with a set 11p dividend (current yield ca.7%) and creation of a distribution pool for future buybacks (if the discount is above 23%) (€30m has been seeded into pool and ); ii) the value added by the four-sector “hidden gems” strategy of buying businesses with unrealised potential at discount to peers (average 24%), improving them (average 15% increase in EBITDA growth during Apax Funds ownership), then selling at a premium (11%); and iii) the stock of exit-able businesses is rebuilding after above-normal exits in 2020-21.

 

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Contact:

Mark Thomas



 

 



 

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The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service

1943491  10-Jul-2024 

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10/07/2024

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