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Alpha Growth (ALGW)
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ALGW - Longevity Assets Investment Specialist - Could 100x bag
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sharetalk 24 Jul '20 - 19:03
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23/12/2024 16:03 LSEG_RNS Alpha Growth PLC New Accounting Reference Date
ALPHA GROWTH
Website:
- Company mission to build a resilient financial future through life insurance-linked wealth and unique asset management solutions for individuals, family offices & institutions.
- Offices in the UK, USA & Bermuda.
- Led by experts in finance and insurance.
- Listed on London Stock Exchange (ALGW) & OTCQB (ALPGF).
- Alpha Growth Management: registered investment manager of registered fund.
- Alpha International Life Assurance: provides unit linked life assurance policies.
- Alpha Longevity Management: registered investment manager of private life settlement fund.
- Providance Life Assurance Company: provides private placement life insurance.
- Havelet Assignment Company: manages litigation settlement funds for claimants & attorneys.
KEY QUOTE
- 12/11/2018, Vox Markets Interview (Daniel Swick, ALGW):
"I think the ultimate goal, which I think about on a regular basis, is where we get to a point where we have a market cap in excess of $100 million"
NEWS
30/4/2024 - Annual Report for Yr to 31/12/2023:
- Chairman's Statement (pg 2-3):
"As at 31 Dec 2023, the Group held a very healthy £7,420,418 within bank accounts, excluding amounts held within life policies...KPIs...demonstrated stability following the acquisitions at the end of 2022. The assets under administration and management stood at $619 million, a small advance towards our $2 billion goal, whilst the surplus in net current assets over regulatory capital requirements stood at £2.7 million.
In further positive news, the Company has repaid its borrowings and is now debt free.
Following the acquisition of Alpha International Life towards the end of 2022, the short-term cash needs of the Company have become significantly more manageable and this puts the Company in the position to self-finance its own operations. The Company does not expect to have to raise any additional equity capital as it progresses towards its previously communicated strategy of managing over $2bn of assets in 2025. Each of AILAC and PLAC successfully obtained a credit rating during the year and accordingly one of these entities is expected to be the vehicle used to finance acquisitions, if finance is required.
Our path forward includes adding to Alpha’s core management team in the positions of fund and life insurance marketing. We are encouraged by independent feedback in the industry of the life insurance linked wealth management “ecosystem” we have assembled. The updated Alpha website (www.algwplc.com) has received many compliments regarding how it explains the “ecosystem” we are building. The Directors believe that this recognition will eventually be reflected in our market value as a global audience is exposed to Alpha.
...Directors have maintained a lean operating structure and will continue to do so until value can be achieved with additional team members...
As we advance our build strategy, we maintain an ongoing assessment of buy opportunities within both the fund and life insurance segments. While certain anticipated opportunities have yet to materialize due to factors like rising interest rates and political tensions in Europe, we remain optimistic and currently have a robust pipeline of targets to evaluate, each holding the potential to significantly enhance both our revenue and assets under management. Updates regarding this will be delivered in due course.
...our share price performance has been impacted by current market conditions. The Directors firmly believe there exists a notable disparity between our current market capitalization and the genuine value of the company and its assets....confident that our value creation strategy will start to reflect in the share price as we continue to achieve our stated goals. Additionally, they anticipate a resurgence in investor interest in smaller companies, further bolstering our position and providing significant shareholder returns."
- Large Shareholders (pg 5):
- Mark Ward = 113,087,803 (24%)
- Hargreaves Lansdown Asset Mngt = 91,859,128 (20%)
- abdn plc = 24,148,239 (5%)
- Roy Rawlins = 22,571.477 (5%)
- Private Stakeholders (UK) = 22,257,544 (5%)
- Lloyds Banking Gp = 20,550,153 (4%)
- James Sampson = 19,494,882 (4%)
- AJ Bell Gp = 18,259,673 (4%)
- AN Minto = 16,792,500 (4%)
- Marcus Alder = 14,147,096 (3%)
- Total above = 78%
- Going Concern (pg 8):
"As at 31 Dec 2023 the Group had a cash balance (excluding amounts with unit-linked insurance policies) of £7,420,418...and net current assets of £3,461,432...The Group has no material debt other than amounts borrowed to finance policy holder loans, which are backed by the assets in the life policies.
...With the issue of a new $20 million life policy in Dec 2023, a significant inflow into the Alpha Alternatives Fund and a new sub-lease of the office in California, the Group is projecting to be cash neutral from the start of the year and there are several ongoing projects any one of which, if they achieve are successful, will result in the Group becoming cash flow positive. In the mean time the Group paid off its short term loan during the past year, generated significant profits on the termination of the sub-lease and generally was in a position to improve its record on timely payment of creditors."
13/12/2023, KBRA investment grade strength rating for Alpha International Life Assurance Company (Guernsey) Ltd:
- BBB- Insurance Financial Strength Rating (IFSR) assigned to Alpha International Life Assurance Ltd. (AILAC) with a Stable outlook rating.
- Strength rating considered investment grade & positions AILAC for new unit linked life insurance product launches in 2024.
- AILAC offers long-term life insurance linked savings accounts & portfolio bond type life policies to policyholders.
29/9/2023, Interim Results for 6 Months to 30/6/2023:
- 53% increase in revenues compared to equivalent period.
- Net assets more than doubled compared to net assets at 30/6/2022.
- Continued progress on integrating insurance businesses with opportunities to enhance profitability.
- Bought out minority interests in Northstar Group (Bermuda) Ltd, whilst further aligning interests of Dan Gray with the Group through share-to-share exchange.
- Released share-based payment reserves following expiry of 25m options attributable to former directors & employees.
- "We expect our cash flow to improve, & we continue to believe that we will not require a placing of shares...We continue to advance our buy & build strategy to ensure continued & substantive ongoing growth of the business. We continue to be presented with & review potential acquisitions...both complementary & supplementary to its existing businesses which will further enhance free cash flow & move us close to executing the 2B plan...Our strategy continues to insulate us from a lot of the volatility in capital markets although we appreciate that our share price performance continues to disappoint. The Directors firmly believe that the value creation strategy will feed through to the share price as the Company looks to continue to deliver on their stated goals."
......................................................................
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QsmeIly45626 Dec '24 - 02:06 - 3641 of 3644 Edit
0 0 1
💩 always sinks eventually and my 🩳🩳 r on 🔥
Like most things with this piece of gob💩 they keep putting back dates 2🤣🤣🤣
By 2025 AUM MISSED
Now IN 2025
Sharekitchen197413 Jan '25 - 15:38 - 3642 of 3644
0 1 0
It seems like a 1 man campaign to destroy a company, perhaps get sone help or see a counsellor. A normal person with this amount of grievance would contact the company via phone or email
QsmeIly45616 Jan '25 - 02:55 - 3643 of 3644 Edit
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SHAREKITCHEN1974 ... the 🐘💩
As if 1 poster could "destroy" a company.....u really are super stupid and lack basic intelligence.
Add to that I'm not paddyboy or jambalaya or any other poster on advfn
The Analyser LSEtalks total sense
Alma
Alpha financial reporting is very poor.
The FRC made then restate 2022 accounts due to not properly consolidating their insurance subsidiaries.
In 2023 PKF have disclaimed their opinion and resigned as auditors because management failed to prove that not adopting a new accounting standard applicable to Insurance Contracts had no material impact even though it applied to most of the contracts issued by Providence Life their largest subsidiary. The new standard had been in discussion for over a decade so Alpha had plenty of time to prepare for its implementation but clearly didn’t bother to do the work and simply tried to ignore the issue.
There is no way they would get a proper US listing with 2023 accounts effectively having no audit opinion.
Poor governance for a group which owns regulated insurance operations in Bermuda and Guernsey.
It won’t end well.
Paddyboy
Posts: 174
Price: 1.40
No Opinion
RE: 2025Today 15:47
It’s curtains. No auditor will touch this . |
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