AP Alternative Assets, L.P. Announces Commencement of Liquidation Process and Payment of Final Liquidation Dividend
AP Alternative Assets, L.P. Announces Commencement of Liquidation
Process and Payment of Final Liquidation Dividend
AP Alternative Assets, L.P. (“AAA”; Euronext Amsterdam: AAA)
announces the determination of the Board of Directors of AAA
Guernsey Limited (the “Board”), the general partner of AAA, to
implement the liquidation of AAA and pay a final liquidation
dividend to AAA’s unitholders.
The Board has determined to implement the
voluntary solvent liquidation of AAA.
AAA’s sole assets comprise cash. In anticipation
of the liquidation of AAA, the Board has arranged for AAA to make
payment of all its outstanding liabilities. The remaining assets of
AAA after the payment of these liabilities, less a small retention
for contingent or unanticipated liabilities, equals US$6,869,606.
AAA now intends to distribute this remaining cash to AAA
unitholders (the “AAA Final Distribution”). This distribution
equates to USD 9 cents per AAA unit. Prior estimates for the amount
of the AAA Final Distribution placed it between USD 7 and 9 cents
per AAA unit.
Immediately after the payment of the AAA Final
Distribution, AAA will apply for the units in AAA to be delisted
from Euronext Amsterdam and AAA will subsequently be liquidated.
The relevant dates for the delisting procedure will be announced in
a separate press release upon receipt of approval from Euronext to
delist the units.
AAA hereby announces the relevant dates
for the AAA Final Distribution
which are set out below:
• Distribution Record Date:
December 8 2020
after closing of trading on Euronext Amsterdam
• Distribution Ex-Date:
December 9 2020
before opening of trading on Euronext
The settlement process for the AAA Final
Distribution to holders of record of AAA units as of the record
date is expected to begin on December 9 2020. This settlement
process is expected to be effectuated through normal-course
settlement procedures via Euroclear’s and Clearstream’s respective
US custodians/DTC participants, without the need for additional
documentation by Euroclear and Clearstream participants.
In addition, for further information, AAA
unitholders should contact their brokers in connection with the AAA
This press release shall not constitute
an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About AP Alternative Assets,
AP Alternative Assets was established by Apollo
Global Management, Inc. and its subsidiaries (“Apollo”) and is a
closed-end limited partnership established under the laws of
Guernsey. Apollo is a leading global alternative investment manager
with 30 years of experience investing across the capital structure
of leveraged companies. AAA is managed by Apollo Alternative
Assets, L.P. For more information about AP Alternative Assets,
please visit www.apolloalternativeassets.com.
ContactAnn Dai (New York)
+1 (212) 822 0678
This announcement does not constitute or form
part of an offer to sell or solicitation of an offer to purchase or
subscribe for securities in the United States or in any other
This press release contains forward-looking
statements. Forward-looking statements involve risks and
uncertainties because they relate to future events and
circumstances. Such statements are based on currently available
operating, financial and competitive information and are subject to
various risks and uncertainties that could cause actual results and
developments to differ materially from the historical experience
and expressed or implied expectations of AAA. Undue reliance should
not be placed on such forward-looking statements. Forward looking
statements speak only as of the date on which they are made and AAA
does not undertake to update its forward-looking statements unless
required by law.
Attachment:AAA Release -
Winding Up (Final)