Alpha Returns Group plc Board Changes

 
TIDMARGP 
 
   Alpha Returns Group PLC 
 
   ("Alpha Returns" or the "Company") 
 
   12 January 2017 
 
   Board Changes 
 
   The Board of Alpha Returns, the AIM traded investing company focusing on 
investments in high-growth Asian economies, is pleased to announce the 
appointment of Nigel Brent Fitzpatrick MBE, aged 67, as an independent 
non-executive director with immediate effect.  Brent has over 20 years' 
experience as a corporate finance consultant and brings with him 
considerable quoted company experience, with current directorships 
including Acorn Growth plc, Lombard Capital plc, Powerhouse Energy Group 
plc and Vela Technologies plc. He has been instrumental in advising a 
number of companies on their acquisitions, funding and subsequent 
flotations. Mr Fitzpatrick was Chairman of Global Marine Energy plc, an 
AIM traded oil services company. He is also currently Chairman of 
RiskAlliance Group Limited and Aboyne-Clyde Rubber Estates of Ceylon 
Limited. He is a member of the Audit Committee Institute. In the Queen's 
Birthday Honours List 2012, Mr. Fitzpatrick was awarded an MBE for 
services to education. 
 
   In addition, Chan Cheong Yee (Quattro), an Executive Director of the 
Company, will act as Interim Chairman until the appointment of a 
Chairman in due course. 
 
   Quattro Chan, Interim Chairman, commented: 
 
   "I am delighted to welcome Brent Fitzpatrick to the board. Brent brings 
a wealth of experience to Alpha Returns especially in the area of 
corporate finance. We look forward to working with Brent to create value 
for the shareholders of Alpha Returns." 
 
   Additional information: 
 
   The information detailed below is disclosed in accordance with Rule 17 
and Schedule Two (g) of the AIM Rules.  Except as disclosed below, there 
is no other information which falls to be disclosed under these rules. 
 
   Mr Fitzpatrick holds no shares or options in Alpha Returns. He is or has 
during the last five years been a director or partner in the following 
companies or partnerships: 
 
   Current: 
 
   Aboyne-Clyde Rubber Estates of Ceylon Ltd, Acorn Growth Plc, Forward 
Catering (Yorkshire) Ltd, J Burdon & Partners Ltd, Lombard Capital plc, 
Low Wave Ltd, National Governors' Association, Ocean Park Developments 
Ltd, Path Investments plc, Pondermatters Ltd, Powerhouse Energy Group 
Plc, Powerhouse Energy UK Ltd,  RiskAlliance Consulting Ltd, 
RiskAlliance Finance Ltd, RiskAlliance Group Ltd, RiskAlliance 
Management Services Ltd, Vela Technologies plc, Wakefield City Academies 
Trust, Wey Education Schools Trust. 
 
   Previous: 
 
   1812 Resources Ltd, Double V Ltd, Guscio plc, Halcyon Oil & Gas Ltd, NIM 
Engineering Ltd, Optometrics Corporation, Tim (My Life is Brilliant) 
Ltd. 
 
   Mr Fitzpatrick was appointed a director of: 
 
   NIM Engineering Ltd ("NIM") on 29 January 2004. The company was placed 
into administration on 20 March 2007. On 29 March 2008, the 
administration period ended and NIM became subject to a creditors' 
voluntary liquidation with an estimated deficiency as regards creditors 
of GBP3.2 million, of which GBP2.4 million was owed to its parent 
company.  Mr Fitzpatrick was a non-executive director of the parent 
company and its representative on the board of NIM which was dissolved 
in January 2014. 
 
   Conferaccom Ltd and of Holly Benson Communications Ltd, both 
subsidiaries of Real Affinity plc, on 22 February 2008, as Real 
Affinity's board representative. He resigned as a director of 
Conferaccom on 14 August 2008 and of Holly Benson Communications and 
Real Affinity, where he was a non-executive director, on 1 October 2008. 
Conferaccom was placed into administration on 28 May 2008 and Holly 
Benson and Real Affinity likewise on 28 November 2008. The 
administration of Real Affinity was concluded in December 2009 with no 
dividend to unsecured creditors of GBP1.29 million.  Holly Benson 
Communications was wound-up via a creditors' voluntary liquidation in 
November 2011 with no return to creditors; likewise Conferaccom in June 
2015 with an estimated deficiency as regards creditors of GBP5.8 
million. 
 
   Onyx Media Limited on 1 May 2003 and resigned on 15 June 2005. The 
company was placed into creditors' voluntary liquidation on 20 June 2005 
with an estimated deficiency as regards creditors of GBP400,000. It was 
dissolved in April 2011. 
 
   Mr Fitzpatrick was appointed a director of Vela Technologies plc on 15 
January 2013 following the approval of a corporate voluntary arrangement 
on 14 January 2013 which was completed on 29 August 2013. 
 
   -ends- 
 
   For further information: 
 
 
 
 
                                Christopher Neo 
Alpha Returns Group plc          Executive Director              020 3286 6388 
ZAI Corporate Finance Ltd       Peter Trevelyan-Clark/Tim 
 (NOMAD)                         Cofman                          020 7060 2220 
Peterhouse Corporate Finance 
 (Broker)                       Duncan Vasey/Lucy Williams       020 7220 9797 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Alpha Returns Group plc via Globenewswire 
 
 
  http://www.alpharet.com 
 

(END) Dow Jones Newswires

January 12, 2017 05:08 ET (10:08 GMT)

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