Alpha Growth PLC Track Record Review, Placing & Total Voting Rights (0679X)
17 Dicembre 2019 - 8:00AM
UK Regulatory
TIDMALGW
RNS Number : 0679X
Alpha Growth PLC
17 December 2019
Alpha Growth plc
("Alpha, or the "Company")
Update on the BlackOak Alpha Growth Fund, Placing and Total
Voting Rights
KPMG Completes Performance Track Record Review of BlackOak
Investors LP, additional funding for marketing and Total Voting
Rights
Alpha Growth plc (LSE: ALGW), the financial services specialist
in the growing Senior Life Settlement ("SLS") asset class that
provides non-correlated absolute returns. Alpha Growth plc and SL
Investment Management Ltd are joint general partners of BOAGF GP,
LLC., and investment managers of BlackOak Alpha Growth Fund. KPMG
were retained by BOAGF GP LLC., to review the Performance Track
Record of BlackOak Investors LP, a fund which the investment
managers are involved with and that uses identical investment
strategies and methodologies to that of BlackOak Alpha Growth
Fund.
Track Record Review
The review by KPMG of the Performance Track Record, from its
inception in February 1(st) , 2014 to August 31(st) , 2019, showed
a market leading 16.26% annualised gross Return.
*The Performance Track Record is comprised of monthly gross
returns, including periodic/annual gross returns, gross-return
since-inception and annualised gross return since inception
(collectively known as the "Return").
Placing
The Company is also pleased to announce that it has raised gross
proceeds of GBP164,617.07 through the issue of new equity at a
price of 1.75 pence per new share, in response to organic demand
received through its Corporate Broker. The proceeds will be used in
support of accelerating the fund's marketing efforts. Accordingly,
the Company has agreed to issue, conditional on admission 9,604,690
new ordinary shares of 0.1p each (the 'Subscription Shares'). The
Subscription Shares will, rank pari passu in all respects with the
existing ordinary shares and following the issue of the
Subscription Shares the Company will have utilized all of the
currently available authorisations it has to issue shares for
cash.
Total Voting Rights
Following the issue of the Placing Shares, the Company's issued
share capital will consist of 192,666,356 ordinary shares.
The Company does not hold any Ordinary Shares in treasury.
Therefore the total number of voting rights in the Company is
192,666,356 and this figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change of their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Gobind Sahney, Chairman of Alpha, commented:
"With the completion of the performance track record review we
are now able to share with our prospective investors the historical
results of the investment manager's strategies and methodologies
which provide a great return for an asset that is non-correlated.
We would like to thank SL and KPMG for their diligent work in
completing the report". "Additionally, on the heels of this news we
appreciate the support of our Corporate Brokers and shareholders
that will underpin the marketing of the fund".
Alec Taylor, Director of SL Investment Management,
commented:
"We are committed to the BlackOak Alpha Growth Fund investment
strategy which has delivered market leading results as demonstrated
by the performance of BlackOak Investors LP. We are therefore
particularly excited to work with Alpha in offering the BlackOak
Alpha Growth Fund to investors."
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
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
Vox Markets (Corporate & Financial Communications) +44 (0) 20 3865 0130
Katrina Perez alphagrowth@voxmarkets.co.uk
------------------------------
Novum Securities Limited (Corporate Broker) +44 (0) 20 7399 9400
Colin Rowbury crowbury@novumsecurities.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, 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 UK and the US to attain commercial scale and provide
wholistic solutions to alternative institutional investors who are
in need of specialised skills and unique access to deploy their
financial resource in longevity assets.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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