REG - Alpha Growth PLC - 2022 Annual Report & Financial Statements

Alpha GrowthAnnouncement

02/05/2023 07:00

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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
(http://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 £3,178,578,
which includes a gain in the period of £4,106,000 relating to acquisitions
undertaken in the period, (sixteen months to 31 December 2021 - restated loss
of £1,714,304) 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
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

For more information, please visit www.algwplc.com.

 

** ENDS **

For more information, please visit www.algwplc.com (http://www.algwplc.com) or
contact the following:

 

 Alpha Growth plc                                   +44 (0) 20 3959 8600
 Gobind Sahney, Executive Chairman                  info@algwplc.com (mailto:info@algwplc.com)
                                                    +44 (0) 20 3328 5656

 Allenby Capital Limited
 Amrit Nahal (Sales and Corporate Broking)
 Nick Athanas / Piers Shimwell (Corporate Finance)
                                                    ir@algwplc.com (mailto:ir@algwplc.com)

 UK Investor Relations - Mark Treharne

 

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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