APi Announces Anticipated Settlement Eligibility
APi Group Corporation Announces
Anticipated DTC Settlement Eligibility
NEW BRIGHTON, Minnesota, October 16, 2019 - APi Group Corporation (the "Company") (OTC: JJAQF; LSE: JTWO) announces today that it expects that trades of its ordinary shares on the OTC market in the United States will be eligible for settlement through the Depository Trust & Clearing Corporation ("DTC") beginning in approximately 2-5 weeks ("DTC Eligibility").
Currently, most of the Company's ordinary shares and all of the Company's warrants are held as depositary interests in CREST in the name of one or more CREST nominees. Following DTC Eligibility, these CREST positions may be transferred from a CREST participant account, in the UK, to a DTC participant account, in the US, on behalf of each beneficial holder. The CUSIP number for the shares will be G0473C 104. In order to facilitate settlement of over the counter trades and warrant exercises after DTC Eligibility, beneficial holders of depositary interests should instruct their CREST nominee to move their positions from the CREST participant account into a DTC participant account.
Holders of depositary interests in ordinary shares should be receiving notification in relation to the DTC Eligibility, as well as instructions on how to move their position from a CREST participant account into a DTC participant account. Holders of depositary interests and their agents may contact the Manager of Global Transactions at Computershare, the Company's agent, on +44 (0) 370 889 3129 or by e-mail at [email protected] with any questions.
As previously announced, the Company expects to list its ordinary shares on the New York Stock Exchange under the symbol APG and change its jurisdiction of incorporation to Delaware, which is expected to occur late in the first quarter of 2020. The Company's ordinary shares and warrants were suspended from trading on the London Stock Exchange on September 3, 2019 when the Company announced its intention to acquire APi Group, Inc. In connection with its anticipated NYSE listing, the Company will request for the listing of its ordinary shares and warrants to be cancelled from the Official List of the FCA and for the admission to trading of its securities to be cancelled from the Main Market of the London Stock Exchange. The Company's ordinary shares continue to be traded on the OTC market in the U.S. under the symbol JJAQF.
APi Group Corporation is a market leading provider of commercial life safety solutions and industrial specialty services. The Company is the leading independent life safety services provider and a top-5 specialty services contractor in the U.S. with a diversified, blue chip customer and supplier base, a robust service offering, and a track record of successful acquisitions. The Company operates three segments in over 200 locations primarily in the U.S., with its international operations being focused on Canada and the UK. More information can be found at https://www.apigroupinc.com/.
Forward-Looking Statements and Disclaimers:
This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company.
This press release contains forward-looking statements which are based on the Company's expectations, intentions and projections regarding DTC Eligibility. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
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