The information communicated within
this announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014 as
it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended). Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Alpha Growth
plc
("Alpha" or the
"Company")
Acquisition of Jeometri
Insurance Managers (Guernsey) Limited
Complementary Financial
Services Company Strategic Acquisition
Alpha Growth plc (LSE: ALGW and
OTCQB: ALPGF), a leading financial services specialist in life
insurance-linked wealth and asset management, is pleased to
announce that it has received regulatory
approval and completed its strategic acquisition of 93.36% of the
outstanding shares of Jeometri Insurance Managers (Guernsey)
Limited ("Jeometri"), with the balance of the shares being retained
by its founder and current director, Darren Wadley. Darren Wadley
will be continuing as Managing Director of Jeometri and will be
responsible for leading the business in its next phase of
accelerated growth.
The consideration paid for the
acquisition of Jeometri was £449,321 in cash inclusive of the costs
of the share acquisition and an infusion of working capital into
the business. The transaction funding has been satisfied from
Alpha's existing cash resources and no shares were issued by Alpha
for the acquisition.
Joining the Alpha group of companies
enhances Jeometri's visibility within the market place and provides
it with the support required to accelerate its growth. With
Jeometri's advanced solutions and its global clientele, we'll
unlock significant opportunities for Alpha's life insurance
businesses.
Moreover, Jeometri will deliver
services currently provided by third parties for Alpha
International Life Assurance Company in Guernsey. This strategic
vertical integration will streamline operations, reduce costs, and
enhance our efficiency, thereby boosting margins and overall
performance for Alpha.
Gobind Sahney, Alpha's Chairman and CEO
added: "We are very pleased to have received the
Guernsey Financial Services Commission's change of control approval
and to be able to expand our insurance services offering in
Guernsey. This
strategic acquisition represents a significant opportunity for
growth, and we look forward to collaborating with Darren and his
team to further grow Jeometri. Together, we aim to deliver
complementary, value-enhancing support across the group's
businesses.
We
are also pleased to share that the group's 'buy strategy' is
progressing well, and I look forward to updating our shareholders
on our acquisition pipeline in due course.
The board of Alpha remains confident in our ability to achieve
our goal of $2 billion in assets under management and
administration in 2025. Achieving this goal will deliver
significant improvements to both revenue and
profitability."
** END **
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
|
Allenby Capital Limited
|
+44 (0) 20 3328 5656
|
Amrit Nahal (Sales and Corporate
Broking)
|
|
Nick Athanas / Piers Shimwell
(Corporate Finance)
|
|
UK
Investor Relations - Mark
Treharne
|
ir@algwplc.com
|
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 UK and the US to attain
commercial scale and provide holistic solutions to alternative
institutional investors who are in need of specialised skills and
unique access to deploy their financial resource in longevity
assets.
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 USA where the
structured and life settlement market is highly
regulated.
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.