ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

AFX Alpha Fx Group Plc

1,920.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Alpha Fx Group Plc LSE:AFX London Ordinary Share GB00BF1TM596 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,920.00 1,900.00 1,940.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Alpha FX Group PLC Share Ownership Schemes (9722T)

20/11/2019 7:00am

UK Regulatory


Alpha Fx (LSE:AFX)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Alpha Fx Charts.

TIDMAFX

RNS Number : 9722T

Alpha FX Group PLC

20 November 2019

20 November 2019

Alpha FX Group plc

("Alpha FX", "Alpha" or the "Group")

Alpha Payments Solutions Employee Share Ownership Scheme and revision to Institutional Employee Share Ownership Scheme

Alpha FX Group plc (AIM: AFX), a UK-based foreign exchange and payments specialist working for corporates and institutions internationally, wishes to update shareholders on the employee share ownership incentive scheme for the Alpha Payments Solutions division (previously known as Alpha Banking Solutions in the Interim Report) as well as inform shareholders of revisions to the existing employee share ownership incentive scheme for the Institutional Division.

Alpha Payment Solutions

The Group has put in place an employee share ownership incentive scheme for certain individuals employed in the Group's newly formed business division, Alpha Payments Solutions ("APS").

In order to maximise the potential of APS, the Group has recruited a number of key individuals with significant experience in supporting corporate clients with more effective and efficient strategies to make and receive cross-border payments (the "APS Participants").

As mentioned in the Interim Report, APS, which sits within Alpha FX Limited (the Group's main operating subsidiary), is led by Adam Dowling, who reports directly to the executive directors of the Group.

A new class of shares ("D Shares") in Alpha FX Limited has been created, with 82% owned by the Group, 10% owned by Adam Dowling and 8% owned by the remaining APS Participants. The value of the D Shares will be linked to the performance of the APS business. The APS share ownership incentive scheme is structured in a similar way to the incentive schemes implemented for the Canadian Office and the Institutional Division. From March 2023, the APS Participants will have the option to convert 25% of their holding of D Shares into Group shares each year for four years (with the final option being exercisable in March 2026). At conversion, and in exchange for converting their D shares into shares in the Group, the APS Participants' holding of D Shares in Alpha FX Limited will commensurately decrease and the Group's holding will commensurately increase.

Institutional Division

Following the continued success of the Institutional Division, launched in March 2018, the Group is in the process of adjusting the employee share ownership incentive scheme to include additional key employees and further employees in the future. The existing employee shareholders have agreed with Alpha FX Limited to reduce their shareholding in Alpha FX Institutional Limited to enable equity to be awarded to future and existing employees to support the ongoing growth of the division. As a result, Alpha FX Limited will increase its shareholding in Alpha FX Institutional Limited from 63.16% to 70%, with a commensurate reduction in holding of the existing Institutional Division employees. Alpha FX Limited has agreed that as part of increasing its shareholding, it shall set aside a maximum of 10% of the issued shares in Alpha FX Institutional Limited to attract, incentivise and reward employees in the future. As new employees join or existing ones deliver standout performances, it is anticipated that the holding of Alpha FX Limited will reduce over time.

Enquiries:

Alpha FX Group via Alma PR

Morgan Tillbrook, Founder and CEO

Tim Kidd, CFO

Henry Lisney, COO

Liberum Capital Limited (Nominated Adviser and Sole Broker) Tel: +44 (0) 20 3100 2000

Neil Patel

Richard Bootle

Kane Collings

Alma PR (Financial Public Relations) Tel: 07780 901979

Josh Royston

Helena Bogle

Rebecca Sanders - Hewett

Market Abuse Regulation

This announcement is released by Alpha FX Group plc and contains inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person who arranged for the release of this announcement on behalf of Alpha FX Group plc was Henry Lisney, Chief Operating Officer.

Notes to Editors

Alpha is a foreign exchange and payments specialist focused on helping organisations manage their currency exposures more effectively. The Group's primary client base consists of corporates and institutions that have a requirement to convert currency for a commercial purpose, such as buying or selling goods and services overseas, repatriating profits, or expatriating payroll. Since it was incorporated in 2010, Alpha FX has been able to build and retain a high-quality client base that includes a number of highly respected household brands.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUKOWRKWAAAAA

(END) Dow Jones Newswires

November 20, 2019 02:00 ET (07:00 GMT)

1 Year Alpha Fx Chart

1 Year Alpha Fx Chart

1 Month Alpha Fx Chart

1 Month Alpha Fx Chart

Your Recent History

Delayed Upgrade Clock