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
  -0.10 -2.11% 4.65 1,669,771 14:41:25
Bid Price Offer Price High Price Low Price Open Price
4.50 4.80 4.80 4.60 4.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -0.64 -0.50 20
Last Trade Time Trade Type Trade Size Trade Price Currency
16:39:32 O 100,000 4.70 GBX

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Date Time Title Posts
18/4/202123:23ALGW - Longevity Assets Investment Specialist - Could 100x bag1,702
09/4/202107:22Alpha Growth at the UK Investor Show54
11/2/202109:27Alpha Growth Lift Off5,611
14/1/202112:29Yesterday's exciting update 19
02/1/202117:46Proactive replace VOX10

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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 4.75p.
Alpha Growth Plc has a 4 week average price of 3.13p and a 12 week average price of 2p.
The 1 year high share price is 5.40p while the 1 year low share price is currently 0.95p.
There are currently 428,315,959 shares in issue and the average daily traded volume is 8,569,912 shares. The market capitalisation of Alpha Growth Plc is £19,916,692.09.
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?"
king suarez: The BOAGF is a 50/50 partnership with SLIM. The fund has a 1.5% AMC and gets a performance fee of 20% for any outperformance above 7%. Last year it did 10.63%. Let us assume it maintains c10% return, then for every $100m AUM: $100m x 1.5% x 0.5 = $750k net to ALGW $100m x 3% x 20% x 0.5 = $300k performance fee net to ALGW Total c$1m net revenue. However, ALGW have their own fund, which I don't think has yet launched. I would expect this to have a similar fee structure - and if the RCF 'lender' is investing through that it could be more lucrative for ALGW if not a 50/50 partnership like with SLIM?
gilesfitzh: No trades makes sense. It seems silly to sell with all the positive potential that there is ATM and those wanting to make their first investment in ALGW but who can't / won't do so without the RCF or more BOAGF AUM are likely waiting for the April update. Any attempt to buy or sell a meaningful quantity of shares at the moment will just move the share price against whoever is trying to buy or sell as the MMs aren't going to take any risks.
sigod: 7rademark - I think many long term holders would like to see the share price higher than it is but I would prefer to see some nice steady growth rather than some dramatic upticks in the share price as that will just encourage day traders. I see this as a slow burner that will provide all us long term holders with some decent growth over the next few years. Today's news has made me very confident for the future. Congratulations to the Board for getting this deal over the line and it looks like there is more to come.
runnerpete22: Courtesy of Alwayshoping @ lse. Will be interesting to hear more about who took up what in the placing. Would be good to hear that the BOD increased their holdings as well. Re last weeks RNS and reading between the lines. We now know that, in relation to the previously announced $100 million RCF, that not only are discussions almost concluded, but we will also receive direct asset investments from the asset manager. This guy must be really impressed with GS and his plans for Alpha. Has anybody given thought to the possibility that a considerable percentage of the latest newly issued shares were purchased by this particular asset manager. Presumably, because these shares will not be listed until March 8th, subject to agreement at the AGM 3 days earlier, at this moment in time there would be no requirement for a TR1. As it is generally agreed that this RCF is going to be transformational for the company, the share price should then react accordingly and certainly be well in excess of the placing price, so he would be "well in the money" very quickly. One further thought/question for those more knowledgeable. Whilst the company appears to be concentrating business on the US side of the water, did GS not spend considerable time much earlier on, preparing the waters for this line of business to be carried out in the UK and Europe and having what would be very close to first mover advantage over here in the UK. If that is still in his long term plans, could our UK "partner" already be lined up to become heavily involved some way as part of his "package" ? The 8th March will definitely see an RNS, if only to confirm the results of the AGM and also confirming the placing of the new shares on the market. Maybe, just maybe, GS will also drop us a few more golden nuggets. Just 14 more trading days to wait. AIMHO, GLAH.
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.
neilyb675: Interesting that there is no stock electronically on-line.....either a large buy going through or perhaps MM knows good news coming.. Your order can not be completed automatically Your order cannot be completed automatically at this time, but can still be submitted as a negotiated order. Reasons for this could include market volatility, the size of your order, or because there is not enough electronic stock available to match your order. Because your order cannot be completed automatically we cannot guarantee the share price at the time of your trade. Your order will be sent directly to our Dealers who will negotiate the best price available for your order in the market at that time. All orders will be completed in fair and due turn as soon as is practically possible. Once you have placed a negotiated order you do not have the facility to cancel this instruction online. BUY: 10000 ALGW - ALPHA GROWTH PLC ORD GBP0.001
sharetalk: Wilpex, The counter-party for the RCF is UK based. Their own travel policy means they cannot at present travel to the US offices of ALGW and ALGW's servicing agents, to conclude arrangements. However, almost everything seems to be in place for the RCF to go ahead, except for the visits. I think the expectation is the counter-party should be able to travel once vaccinations are more widespread, presumably also including vaccination of the employee or employees making the trip, after whch things should move quickly. Once concluded, the RCF will be transformation for ALGW and its shareholders, so it is worth building a stake now for what should be a relatively short wait and substantial upside. See the following quotes from recent ALGW press releases for more info: - 4/11/2020 - "The Company's discussion with the Warehouse Loan/Short Term Credit Facility counterparty continues & is nearing a conclusive step. The counterparty's COVID policy is limiting their ability to conclude site visits to the Company's & our servicing agents' US based offices. The Company will provide further updates as discussions progress." - 20/7/2020 - In early Jul 2020, ALGW "resumed discussions with the counterparty to determine the next steps in the establishment of the Warehousing facility. The counterparty noted that they are looking forward now and that the internal issues they faced due to Covid-19's effect on their business are being managed. The Company will provide further updates as discussions progress." - 2/12/2019 - ALGW in final stages of securing revolving credit facility up to $100m with leading UK asset manager..."discussions progressed well whereby ALGW & Asset Manager have agreed life settlement valuation methodologies & acquisition strategies."
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