REG - Alpha Group Intl PLC - Alpha Unaffected by SVB

Alpha InternationalAnnouncement

13/03/2023 07:00

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RNS Number : 6641S  Alpha Group International PLC  13 March 2023

13 March 2023

Alpha Group International plc

("Alpha" or the "Group")

Alpha Unaffected by SVB

 

Following the recent announcements surrounding Silicon Valley Bank, the Group
wishes to reassure all our stakeholders that our operations and any client
held funds remain unaffected.

 

As a reminder, Alpha safeguards 100% of its client funds in segregated
safeguarding accounts with Tier 1 counterparties consisting of Barclays Bank,
Citibank, Goldman Sachs, and Lloyds Bank. In addition, unlike a bank, Alpha
does not use client cash to issue loans, and therefore 100% of client held
funds remain in cash at all times.

 

We remain mindful that there could potentially be knock-on effects to our
clients and therefore continue to monitor this closely. Having undergone an
initial review however, we do not currently have any areas of concern, and are
looking forward to sharing our full year results on the 22(nd) March.

 

 

Enquiries:

 

 Alpha Group International plc           via Alma PR
 Morgan Tillbrook, Founder and CEO
 Tim Powell, CFO

 Liberum Capital Limited                 Tel: +44 (0) 20 3100 2000

 (Nominated Adviser and Sole Broker)
 Max Jones
 Ben Cryer
 Kate Bannatyne

 Alma PR (Financial Public Relations)    Tel: +44 (0) 20 3405 0205
 Josh Royston
 Andy Bryant
 Kieran Breheny

 

Notes to Editors

Alpha is a high-tech, high-touch provider of enhanced financial solutions
dedicated to corporates and institutions operating internationally. Working
with clients across 50+ countries, we blend intelligent human capabilities
with new technologies to solve complex problems across three key areas: FX
risk management, global accounts, and mass payments.

Key to our success is our team - nearly 300 people based across seven global
offices, brought together by a high-performance culture and a partnership
structure that empowers them to act as owners of our business.

Despite being an established business listed on the London Stock Exchange, we
remain relentlessly focused on maintaining the same level of operational
agility and client focus we had when we first started in 2009. This dynamic,
combined with the passion of our people, have enabled us to make a substantial
and enduring difference to our clients, and deliver a growth story to match.

 

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