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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alpha Growth Plc | LSE:ALGW | London | Ordinary Share | GB00BYWKBC49 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 4.17% | 1.25 | 1.10 | 1.40 | 1.25 | 1.20 | 1.20 | 633,867 | 09:25:43 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Management Consulting Svcs | 7.88M | 3.18M | 0.0068 | 1.84 | 5.85M |
TIDMALGW
RNS Number : 9293A
Alpha Growth PLC
17 September 2018
17 September 2018
Alpha Growth plc
("Alpha", or the "Company")
Issue of Equity and Director/PDMR Dealing
Alpha Growth plc (LSE: ALGW), the financial services specialist in the growing Senior Life Settlement ("SLS") asset class, is pleased to announce the placing of new ordinary shares to raise gross proceeds of GBP400,000 (the "Placing").
Alpha Growth has today issued, conditional on admission, 20,000,000 new ordinary shares of 0.1p each (the "Placing Shares") at a placing price of 2p per Placing Share. The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. An application will be made for the Placing Shares to be admitted to trading and admission is expected to take place on or around 1st October 2018.
The net proceeds of the Placing will strengthen the Company's cash position as it unfolds its business plan to become a leading longevity asset manager in US life settlements. The proceeds will be used to accelerate the expansion of Alpha's recently announced acquisition of Alpha Longevity Management Ltd ("ALM"). ALM is a British Virgin Island Financial Services Commission (the "FSC") licensed investment manager. The expansion includes the acquisition of specialist services and retention of experts as well as support staff that will give the Group the ability to scale up and deliver full suite of services and financial products in demand by clients in this sector. Alpha is well positioned to take advantage of the demand for life settlements and the resulting increase in the specialisation of managing these assets.
The Company is also pleased to announce that Chief Operating Officer, Danny Swick, has subscribed for 750,000 of the placing shares on the same terms as above. Mr. Swick's previous holding was nil (being 0% of the Company's issued share capital), and so this subscription takes his holding, immediately after admission of the placing shares, to a total of 750,000, being 0.59% of the enlarged issued share capital of the Company.
At 14 September 2018, the Company's issued share capital consisted of 106,335,000 ordinary shares. Following the issue of the Placing Shares, the Company's issued share capital will consist of 126,335,000 ordinary shares. Each share has one voting right and no shares are held in treasury; these figures may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Chairman Gobind Sahney commented:
"We are pleased to have received such good support from our corporate brokers as well as both new and existing shareholders in completing this placing. These proceeds will be used to achieve certain service contracts which will strengthen our market position, product offering and investor relevance. We are now positioned to accelerate our business development pipe and are excited about the growth prospects of the Group in the near term."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
** ENDS **
For more information, please visit www.algwplc.com or contact the following:
Alpha Growth plc +44 (0) 20 3959 8600 Gobind Sahney, Executive Chairman info@algwplc.com Cassiopeia Services (PR/IR) +44 (0) 7949 690338 Stefania Barbaglio Stefania@cassiopeia-ltd.com Novum Securities Limited (Corporate Broker) +44 (0) 207 399 9400 Colin Rowbury crowbury@novumsecurities.com
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
About Alpha Growth plc
Specialist in Longevity Assets
Alpha Growth plc is a financial advisory business providing specialist consultancy, advisory and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of longevity assets. Building on its well-established network, Alpha Growth has a unique position in the longevity asset services and investment business, as a listed entity with global reach. The Company's strategy is to expand its advisory and business services via acquisitions and joint ventures in the UK and the US to attain commercial scale and provide wholistic solutions to alternative institutional investors who are in need of specialised skills and unique access to deploy their financial resource in longevity assets.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 1 Details of the person discharging managerial responsibilities/person closely associated ------ ------------------------------------------------------------------------------------------ a. Name Daniel Swick --------------------------------------------------- 2 Reason for notification ------------------------------------- --------------------------------------------------- a. Position/Status Director ------------------------------------- --------------------------------------------------- b. Initial notification/ Initial notification Amendment ------------------------------------- --------------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------------------ a. Name Alpha Growth plc ------------------------------------- b. LEI 213800T46KFT32KYKR91 ------------------------------------- --------------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------ ------------------------------------------------------------------------------------------ a. Description of Ordinary Shares of 0.1 pence each the financial instrument, type of instrument ------------------------------------- --------------------------------------------------- b. Nature of the Subscription for shares through Open Offer transaction ------------------------------------- --------------------------------------------------- c. Price(s) and Price(s) per Volume(s) volume(s) share ------------------------------------- -------------------------- 2.00 pence 750,000 ----------------------------------------------------------------------- ------------------ d. Aggregated information: 750,000 shares - Aggregated Volume 2.00 pence per share - Price ------------------------------------- --------------------------------------------------- e. Date of the transaction 17 September 2018 ------------------------------------- --------------------------------------------------- f. Place of the London Stock Exchange transaction ------------------------------------- ---------------------------------------------------
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
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September 17, 2018 02:01 ET (06:01 GMT)
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