TIDMALGW
RNS Number : 9672X
Alpha Growth PLC
02 May 2023
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014 (as in force in the United
Kingdom pursuant to the European Union (Withdrawal) Act 2018). 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")
Release of 2022 Annual Report and Board Changes
Alpha Growth Plc (LSE: ALGW and OTCQB: ALPGF), a leading
financial services specialist in the growing longevity asset class
and insurance linked asset management business, is pleased to
announce the release of its Annual Report & Financial
Statements for the twelve months ended 31 December 2022 (the '2022
Annual Report'). The 2022 Annual Report is available at
www.algwplc.com .
During this period, the Company closed two asset accretive
acquisitions and launched a US registered interval fund. The
Company also achieved positive results at its subsidiaries
(together, "the Group") for the year ended 31 December 2022. During
the period the Group reported a profit of GBP3,178,578, which
includes a gain in the period of GBP 4,106,000 relating to
acquisitions undertaken in the period, (sixteen months to 31
December 2021 - restated loss of GBP1,714,304) and the Group has
accordingly reported its first year of profits having seen the
investment of resources since inception starting to bear fruit.
The Company is also pleased to announce the appointment of Jason
Sutherland as an Executive Director. Jason is moving from being a
non-executive director of the Company and in his executive role he
will become more involved in the day-to-day operations and growth
of the Company. Additionally, the Company welcomes Neil Warrender
as the new Non-Executive Director. Neil is currently the Company
Secretary and has been instrumental in advising on our back-office
activities. Neil's background includes qualifying as a chartered
accountant with a "Big 4" firm, a period working with the financial
services regulator, and serving as financial controller and
compliance officer of a hedge fund manager during a period of
significant asset growth, rising from $500m to nearly $10bn.
For 2023, we continue with our 2B plan as previously announced -
the 2B plan is Alpha Growth's strategy of achieving $2bn of assets
under management by 2025. This strategy includes expanding our
activities within the life insurance business and continuing with
the growth of BlackOak Alpha Growth Fund and the Alpha Alternative
Assets Fund.
Gobind Sahney, Executive Chairman commented , "I am very proud
of what we have achieved in 2022 and look forward to an equally
progressive 2023. Closing two asset accretive acquisitions,
launching a new fund, and expanding the expertise of our management
team, positions Alpha Growth in an industry leading capacity. I am
very pleased to welcome Jason full time and look to Neil to
continue bringing excellence to our team, furthermore I am excited
about the opportunities that Alpha is well positioned to take
advantage of in 2023 and beyond."
The 2022 Annual Report will in due course be available for
inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
For more information, please visit www.algwplc.com.
** ENDS **
For more information, please visit www.algwplc.com or contact
the following:
+44 (0) 20 3959
Alpha Growth plc 8600
Gobind Sahney, Executive Chairman info@algwplc.com
+44 (0) 20 3328
Allenby Capital Limited 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 asset 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.
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END
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