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Irrespective of whether the text refers to AGA or PCV, references to the trading period from 1 January to 31 December 2015 include trading as PCV prior to the transfer of assets to AGA following the acquisition and listing on 15 June 2015.

For further information regarding the announcement of AGA's 2015 Annual Reports and Accounts, including the details for today's analyst and investor call at 9.30am (UK time), please visit Financial highlights for the twelve months to 31 December 2015 1 Total proceeds of €300m were raised based on the FX rate at the date of allocation prior to IPO.

The PCV Group was an investment vehicle established in 2008 in which current and former Apax Partners, personnel and others were invested.AGA's Board has also recently announced its intention to commit US0 million to the latest global private equity fund raised by Apax Partners, Apax IX.The Derived Investments portfolio is split 79% in investments of different types of debt securities and 21% in listed equity holdings.As the PCV Group continued to see a strong pipeline of attractive investment opportunities in both Private Equity and Derived Investments, the IPO was sought to raise additional capital to continue this investment strategy.The IPO successfully raised proceeds of £218.2 million and was oversubscribed.

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