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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alpha Returns | LSE:ARGP | London | Ordinary Share | GB00B7FD9168 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMARGP Alpha Returns Group PLC ("Alpha Returns" or the "Company") 13 December 2016 Termination of Investment in Jesoft International Limited ("Jesoft") The Company is pleased to announce that its wholly owned subsidiary ARGP Investments Limited ("ARGPI") has entered into an agreement ("Termination Agreement") for the termination of the conditional sale and purchase agreement ("SPA") for the acquisition of 50 per cent. of the issued share capital of Jesoft from Wuxopi Group Limited (the "Vendor"). As announced on 7 July, the preconditions relating to the Company's conditional indirect investment in Jesoft had not been satisfied by the extended long-stop date. Under the terms of the Termination Agreement, the Vendor shall make a cash payment of HK$928,125 (approximately GBP94,200) on or before 21 December 2016 as full and final repayment of the initial consideration of 17,394,054 ARGP ordinary shares paid by ARGPI, which at yesterday's closing price of 0.4p per share had a value of approximately GBP69,600. This compares to the book value of the conditional investment of GBP295,700 as at 30 June 2016 in the Company's consolidated accounts. Once the repayment has been made in full, the SPA shall terminate and be of no effect and none of the parties shall be under any obligation or liability in respect of the SPA. -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 contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No. 596/2014. 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
December 13, 2016 09:19 ET (14:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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