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 Shares Traded Last Trade
  0.00 0.0% 2.85 2,190,820 08:00:00
Bid Price Offer Price High Price Low Price Open Price
2.80 2.90 2.85 2.85 2.85
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -0.64 -0.50 12
Last Trade Time Trade Type Trade Size Trade Price Currency
16:12:04 O 22,798 2.83 GBX

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Date Time Title Posts
24/9/202116:30ALGW - Longevity Assets Investment Specialist - Could 100x bag2,535
03/9/202110:59Proactive replace VOX18
02/9/202122:30Alpha Growth Lift Off5,614
02/9/202120:47Yesterday's exciting update 20
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Alpha Growth Daily Update: Alpha Growth Plc is listed in the General Financial sector of the London Stock Exchange with ticker ALGW. The last closing price for Alpha Growth was 2.85p.
Alpha Growth Plc has a 4 week average price of 2.60p and a 12 week average price of 2.60p.
The 1 year high share price is 8.05p while the 1 year low share price is currently 1.25p.
There are currently 431,887,388 shares in issue and the average daily traded volume is 2,217,071 shares. The market capitalisation of Alpha Growth Plc is £12,308,790.56.
jungmana: Have patience and sit on this . Let's see where the share price is in a few weeks
mufprat: Tried to open a long SB position with IG when the share price was up 12%. They were not taking new trades so unsuccessful.
oilhunter2020: Hi jambam, if the 5p mark will become a new good basis it would be fine for me, because look where we come from some weeks back. If stocks gets skyrocketing in a way as ALGW did to almost 8p the risk for the share price to settle down is very high. We can see it with many stocks. Its not specifically an ALGW issue. Fundamentally I do not see a problem here. The outlook remains great.
7rademark: 801, try not to forget the mms can use limits for their own agenda, also if you only have a couple of hundred k for example it's impossible to really call the limits.E.g if you have say 600k algw and the mms will take the lot it's a fair call they want stock and feel confident they can sell it back higher, a good indication the share price will move up, however often if you want out a tick down on the bid presents that opportunity, if someone takes it then the limits change again to perhaps NT to sell as the mms only want buyers to take the sold stock.These figures vary of course with other stocks depndant on the share price and nms.I hope you havnt misunderstood me by buying today simply because you could sell your holding when on Friday you couldn't. You can deal at best as I've mentioned, or you can set a limit trade, or call your broker and ask them to get a firm price from the mms.
papy02: I’ve been starting to research ALGW (better late than never!).. Apart from KS write-ups (thank you!), random things I have noticed so far (and queries) are: - Only 4 employees – presumably the 3 US-national directors plus the (part-time?) UK company secretary? Presumably the NED is not full time either, so 2-3 full-time equivalents? - In the Sept 2020 Prospectus for Placing, they say “... the Company generally looks to appoint experienced industry operators as independent contractors rather than as full time employees”. Do we know if there are any such contractors being paid right now? - Given the above, are the Mayfair and/or NY addresses just brass nameplates or are they actual offices? - There is £205k of “other expenses” (in last annual report) that are not broken down – might include either of the above? - With 3 US-national directors, including COO resident in US, a company dealing with US life policies, selling (so far) to US customers, why are they listed in UK rather than US? (at least they are not on AIM though!) - Rajiv Rebello only stayed 1yr 1 mo as Chief Actuary (Mar 19 to Mar 20) – just long enough to get paid (in ALGW shares) for Colva Insurance Group . He is and was US based, and is now operating under a similar company name (Colva Actuarial Services) to that he sold to ALGW for £77k. You have to wonder whether his clients stayed with him or ALGW/BOAGF. - I haven’t noticed inflation mentioned as one of the risks. If it rises, as seems to be happening, this will make existing policies that have been invested in less attractive, by reducing real returns? (though premature Covid-related deaths might have opposite effect?). And lower the prices of new policies, or any sale of policies/portfolios. This could damage the perception of an uncorrelated “safe” asset class? These are all a bit random, but any/all comments welcome.
gilesfitzh: I think we can all agree that the warrants that came with the shares bought in the recent placement will all be taken up. Including those there will be about 616 million shares in issue. Apparently ALGW will become a takeover target when the Market cap. reaches £100 million which, with 616 million shares, is when the share price gets to 16.25p. Now, obviously the Company won't be bought immediately but I doubt the share price will get much beyond 20p before it's bought out.
king suarez: From gilestitzh: "An analysis of the last couple of months.16 Apr 2021 18:58 11th Feb: Acquisition announced, 14.8 million shares traded, share price moved from 2.32 to 2.80 5th March: AGM report, which said nothing, 1.8 million shares traded, share price drifted from 2.50 to 2.40. 8th March: £3,750,000 worth of new shares sold to investors at 2p with attached warrants at 3p valid for 2 years, 1 million shares traded, share price moves from 2.40 to 2.51 which is remarkable as you would normally see the share price move to more or less match the placing price. 16th March: TR-1s submitted following issue of new shares, 8 million shares traded, share price unchanged. People don’t seem to understand what the acquisition means. 17th March: People realise that Mark Ward invested a further £1 million pounds in ALGW, 8.5 million shares traded, share price moves from 2.50 to 3.25. 23rd March: Announcement of acquisition of Northstar, 12.6 million shares traded, share price moved from 3.30 to 3.65. Friday 9th April: Trading update, 15.8 million shares traded, share price moves from 3.65 to 4.49. Monday 12th April: More people twig that ALGW is going places, 10 million shares traded, share price moves from 4.49 to 5.00. Tuesday 13th April: Slower people finally get it, 5.8 million shares traded, share price moves from 5.00 to 5.15. Wed, Thurs, Fri 16th April: So, buyers have bought, sellers have sold, traders have done what they do, a measly 6 million shares traded over the last 3 days, share price drifted from 5.15 to 4.65. My analysis: GS has delivered a stunning coup in buying Northstar, putting the ALGW group on a break-even footing and putting ALGW in front of an established group of asset investors. The RCF counterparty is in the process of reviewing a block of 100 life settlement policies which were sourced by ALGW and will be managed by ALGW. This will be absolutely transformative for the company. People, not invited to participate in the share placing, who think the above is good have bought shares, those who are happy with a 100+% profit have sold. Total shares traded over the 2 months is about 167 million, which is an average of less than 4 million per trading day. The share price has moved from 2.32 to 4.65. The MM’s have no idea where the share price might go so are cautious and the share price can move on very little buying or selling. The share needs more liquidity which should come as more people become aware of ALGW, in particular US citizens."
onedayrodders: Good post from gilesfitzh LSE "You may not have seen the documentation that accompanied the Share placing Prospectus but Northstar’s Proforma net profit after tax was stated as $487k which equates to about £355k. The fees that will be earned, over the next 12 months, on the current $25.5 million AUM, assuming a 10% return on the fund, come to £195k. So the ALGW Group’s projected annual income on today’s joint AUM is £550k. Northstar’s Operating Expenses are paid for in the £355k net figure above. ALGW’s 2020’s Operating Expenses were £567.2k including £247k of Directors Fees, £12k of which was made to departing Directors, so call it £555k. I think we can say that, as of now, ALGW is, more or less, breaking even. So for the future: Michael Molloy has joined and will presumably be paid about £100k which will only need about an additional $14.5 million of AUM to recover that in fees. IF the RCF Counterparty directly invests $100 million in BOAGF that would generate an additional $1,050k or £765k in fees which goes straight to the ‘bottom line’. Likewise whatever the existing BOAGF investors increase their investments by, and this could be another $100 million, will also generate fees that go straight to the ‘bottom line’. In addition there is a good possibility that clients of Northstar, who have $270 million AUM, will see the benefits of also investing in one of ALGW’s funds or SPVs. It is worth noting that any AUM in the G&I fund or SPVs will generate up to x2 the fees as they do not need to be shared with SLIM. At some point between now and March 2023, holders of the 170 million warrants (net of Pello’s) will want to pay for them, and this will give ALGW a further £5 million of Share Capital on top of the ‘extra’ £200k raised recently. All in all I think the ALGW Group could well be showing net profits in excess of £1.5 million per annum in a year’s time. Will GS complete any of the acquisitions that Northstar’s had lined up and thereby increase the Groups AUM even further?"
gilesfitzh: With this acquisition our BoD have pulled off a transformational coup – here is why: 1/. In a matter of a week or so Pello, via a couple of brokers, their clients and some TR-1 holders were OVERSUBSCRIBED for the £3.2 million fund raise to the tune of £550,000. 2/. Given that the fund raise was oversubscribed it’s good to know that further acquisitions, that are currently under review, could add a further £1 billion of AUM and add £1.5 million in annual net profits. 3/. Of the £3.2 million paid for the Parent of the Insurance Company, about £1.45 million was a cash swap as $2 million remains as the permanent capital of the newly acquired company. This means that ALGW have only paid some £1.75 million for the Parent Company of the Insurance Company with about £200 million of AUM and which is making an annual profit, to ALGW, of about £335,000 (95% of $487,000). 4/. This additional £335,000 net profit means that ALGW should pretty much be at break-even which, I am sure, will calm a lot of Investor nerves as ALGW shouldn’t have to raise more cash for operating costs. 5/. The Insurance Company, while owned by a Private Company, was not able to command the sort of Valuation that it should now be able to as part of ALGW, a listed plc. Similar publicly quoted asset management companies, such as Westwood Holding Group (AMG), Westwood Holding Group (WHG), Sivercrest Asset Management Group (SAMG), Diamond Hill Investment Group (DHIL) have an average 29x P/E ratio. You should also bear in mind that none of those asset management companies have the regulated licence(s) that ALGW does in order to provide insurance based wealth management solutions. 6/. Some 160 million shares have been sold in order to acquire the Insurance Company’s Parent. 95% of the Net profit, ALGW’s share, is expected to be £335,000. This is an earning per share of £0.0021, which, at 29x P/E, would give a share valuation, for the Insurance Company, of just over 6p, 3 times the investment. 7/. ALGW and it’s subsidiaries now have at least £220 million in AUM which may very well allow the current investors in BOAGF to increase their investment as well as a good probability of cross pollination from the Insurance Company’s clients to BOAGF. 8/. The life insurance license provides opportunities on a global level to attract investors into Alpha’s funds, increase AUM in longevity assets, source clients for longevity risk coverage and relationships in the reinsurance market. All of these strategies generate sticky and predictable income which, when combined with a lean operating structure, will generate substantial profits. My valuation of ALGW after the acquisition: If the new 160 million shares that are attributable to the Insurance Company are valued at 6p each (see 6/. above) and if you add the previous 240 million and new 27.5 million ALGW shares at no more than the 2p paid for the new shares then the total value of ALGW should be (160 million x 6p + 267.5 million x 2p) £14.95 million giving an share price of 3.5p. IMO this is the MINIMUM current valuation of ALGW as the potential, which is what a share price reflects, for the Company is fabulous. Sadly my family was unable to participate in the fund raise as we had just committed the balance of our cash to the purchase of a £4 million property in Oxford.
qsmeily456: Good look at the detail. Suggests that 5p shot terms is quite realistic....... Pe of 8 BOAGF is the ONLY fund in which ALGW have actual investors and is also the only fund that we have the (target?) fee structure. IMO the BOAGF fee structure is quite generous to ALGW and I doubt that the G&I fund or other 'yet to be set up' funds could command the same level of fees. The trend shows that High Net Worth Investors are forcing asset managers to reduce fees. But let's do the figures based on BOAGF i.e. 0.75% plus 10% performance fee on any returns above 7%. Let us also imagine that BOAGF reaches £500 million in 3-4 years time and continues to return 10%. It may be that ALGW's AUM is higher but in funds that return less in fees. But in this example (£500 million AUM in BOAGF)Annual management fee would be £3.75 million, the performance would add a further £1.5 million giving a gross profit of £5.25 million. Costs last year were nearly £0.6 million so let's assume that annual costs will be £1 million by then. How many shares would be in issue by then? Shall we say 400 million? If ALGW were to make a net profit of £4.25 million with 400 million shares in issue the Earnings per share would be 1.0625p per share. If ALGW was able to command a P/E of 15 then the share price would be 16p. IMO at this point ALGW will probably be bought out by a US asset management behemoth so a premium to the share price could be expected but to state that ALGW could be a 20 bagger (40-50p) or a 50 bagger (£1-1.5) is ridiculous.
Alpha Growth share price data is direct from the London Stock Exchange
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