Asset Match – How does it work?

UKAP Holdings Limited is planning for admission to Asset Match (www.assetmatch.com) during 2025; but what is Asset Match and how does it work for existing shareholders and prospective investors?

What is Asset Match?

Asset Match is a market place for private company shares. Through the AM Private Market you have access to liquidity and price discovery via ongoing periodic auctions. Asset Match’s proprietary order books and market algorithms have been specifically built to enable trading in a fair, transparent and regulated environment. All companies on the platform are subject to due diligence checks by Asset Match, and all company documentation is available on each company’s auction page. AM for Shareholders AM for Investors

How are prices and matches determined?

All AM Private Market auctions use a specially developed pricing algorithm and matching engine to determine the final closing price of each auction and the allocations to buyers and sellers. These algorithms are non-discretionary which means that Asset Match remains independent throughout and ensures that prices are fairly derived.

The pricing algorithm determines a single price for each auction (where there are sufficient buy and sell orders) and an indicative price, where available, is displayed in the order book throughout. The indicative price is the price at which the auction would close if it were to close at that moment. In most cases, this indicative price is set where the implied supply and demand curves cross.

Where there is a mismatch in supply and demand at the auction closing price, the matching engine allocate shares on a “price and time basis”.

Further information on how the pricing algorithm, matching engine work and how to read the order books can be found in the AM Order Book Help Guide.

How do I participate in an auction?

(PLEASE NOTE THAT UKAP HOLDINGS LIMITED SHARES HAVE NOT AS YET BEEN ADMITTED AND AS SUCH THERE IS NO AUCTION TO PARTICIPATE IN AT THIS TIME)

Once UKAP Holdings is admitted to AM Private Market, an initial auction date will be set and the initial list price of the shares will be calculated from an independent valuation.

To participate in auctions for companies admitted to AM Private Market – Standard, shareholders and investors need to use a stockbroker.

Using shareDeal active

shareDeal active (part of Jarvis Investment Management plc) is the preferred broker and settlement agent for all AM Private Market – Standard companies admitted to our platform. shareDeal active offers a competitively priced service for both certificated and uncertificated transactions. If you do not already have an account with shareDeal active, then you can open an account online.

Alternatively, if you wish to sell a share certificate you can simply complete and return a certified selling pack.

Using another stockbroker

If you already have a stockbroker (or an in-house dealing team if you are an institutional investor or broker) then you can place orders by instructing your broker to face shareDeal active. Not all stockbrokers will be able to act on your behalf, and so you should check with them first. You may also incur additional fees.

These instructions can also be found on each auction page.

Successful buyers and sellers will be charged commission plus any additional fees that their stockbroker may charge. These fees are visible on the contract notes that are issued.

Next Steps

Once UKAP Holdings Limited is ready and accepted (target is Q3 2025) then the company will be in touch with existing shareholders to tell them how when the first auction will take place and what actions they need to take to participate. We are hopeful that by providing a secondary market whilst finally delivering on the plans, we can create a buoyant and liquid secondary market for the shares of the company allowing existing shareholders to hopefully realise a return whilst creating opportunity for new investors to join the journey.