19th August 2020
Alpha Growth plc
("Alpha", or the "Company")
Appointment of Pello Capital Ltd and Placing
Alpha Growth plc (LSE: ALGW), the financial services specialist in the growing longevity asset class, is pleased to announce the appointment of Pello Capital Limited ("Pello") as broker to the Company and the raising of
Placing
The gross proceeds of
Issue of Placing Shares
The payment and delivery of the Placing Shares is expected to take place on 7 September 2020 and is conditional on the Financial Conduct Authority approving a prospectus in accordance with the Prospectus Rules and the Placing Shares being admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities. The Placing Shares will have the same rights and benefits as, and rank pari passu in all respects with, the existing ordinary shares.
A further announcement will made in due course once the Prospectus has been published.
Total Voting Rights
Following the issue of the Placing Shares, the Company's issued share capital will consist of 240,815,959 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.
Subscription facility
The prospectus also provides for a Subscription facility to give the Company the ability to issue up to 35,819,047 Ordinary Shares in the 12 months from the date of the prospectus without the requirement to issue a new prospectus, thus saving costs if required. The Subscription is not underwritten or otherwise guaranteed and there are no plans to utilize the facility at this time. Further information on the Subscription facility will be in the Prospectus.
Gobind Sahney, Executive Chairman of Alpha, commented:
"I and the Directors are pleased to be working with the team at Pello and very much appreciate their support of Alpha's business strategy. Their commitment to the Company and delivering exceptional service was clearly demonstrated through the swift completion of the Pello initiated placing. The growth and innovative vision of Dan Gee and his team for Pello is very impressive."
Daniel Gee, Managing Director of Pello, commented:
"We at Pello are delighted to have been able to support Gobind and his team at Alpha Growth with this placing. We look forward to building a longstanding relationship with the Company and continuing to assist in the exciting growth of the business."
** 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 |
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Pello Capital Limited |
+44 (0) 20 7710 9610 |
Mark Treharne |
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, the Alpha Growth Group has a unique position in the longevity asset services and investment business, as a listed entity with global reach. The Group's strategy is to expand its advisory and business services via acquisitions and joint ventures in the
Longevity Assets and Non-correlation
As a longevity asset, it is non-correlated to the real estate, equity capital and commodity markets. Its value is a function of time because as time passes the value gets closer to the face value of the policy. Hence creating a steady increase in the net asset value of the investment. This makes it highly attractive to investors wishing to counteract volatility within an investment portfolio and add yield.
Note: The Company only advises on and manages Longevity Assets that originate in the
Forward Looking Statements Disclaimer
Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, the Company's directors' current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward- looking statements, which speak only as of the date of this document. Readers should not treat the contents of this document as advice relating to legal, taxation or investment matters, and are to make their own assessments concerning these and other consequences, including the merits of information and the risks. Readers of this announcement are advised to conduct their own due diligence and agree to be bound by the limitations of this disclaimer.
Important Notice
The content of this announcement has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (FSMA). This announcement has been issued by and is the sole responsibility of the Company. The information in this announcement is subject to change.
This announcement is not an offer of securities for sale into
Pello Capital Limited (Pello) is authorised and regulated by the Financial Conduct Authority in the
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