Hardman & Co Research / GG00BWWYMV85
10.07.2024 - 11:42:06Hardman & 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 CM day and related announcements 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 buybacks started); 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. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/cm-day-further-proof-of-value-added-by-apax/ If you are interested in meeting the company, you can register your interest by clicking on the above link.
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