18 July 2018
Alpha Growth plc
("Alpha", or the "Company")
Acquisition of ALM
Alpha Growth plc (LSE: ALGW), the financial services specialist in the growing Senior Life Settlement ("SLS") asset class is pleased to announce the acquisition of Alpha Longevity Management Limited ("ALM").
The Company has, today, signed an agreement for the acquisition of ALM for total consideration of
It has the added advantage of also being beneficial for the tax structuring of the Company's operations going forward. The acquisition is conditional, among other items, on obtaining approval by the BVI FSC for a change in control. As part of the consideration Alpha has agreed to assume any liabilities, owed by ALM at the time of the transaction, up to
ALM was established by Mr. Gobind Sahney, CEO and Executive Chairman of Alpha. Mr. Sahney is a Director of ALM and also owns the majority of the shares, therefore the Board of Directors decided to establish a separate Investment Committee, which comprised Andrew Dennan, the Independent Non-Executive Director, and Rory Heier the Chief Financial Officer. A value of
Rory Heier, member of the Investment Committee, commented:
"We are really pleased to announce the acquisition of ALM. Whilst the company has yet to commence trading it holds numerous benefits to Alpha going forwards and saves both time and money in incorporating a new company ourselves. In addition, the BVI FSC Investment Manager Licence provides us with a regulated entity that can conduct authorised business which is a key feature in global structured products and enhances the attraction and validity of Alpha's platform and product offering to institutional investors in longevity assets."
For more information, please visit www.algwplc.com or contact the following:
Alpha Growth plc |
+44 20 3959 8600 |
Gobind Sahney, Executive Chairman |
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Cassiopeia Services (PR/IR) |
+44 (0) 7949690338 |
Stefania Barbaglio |
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Novum Securities Limited (Corporate Broker) |
+44 (0) 207 399 9400 |
Colin Rowbury |
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
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