REG - Alpha Group Intl PLC - Share Buyback Programme

Alpha InternationalAnnouncement

29/01/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240129:nRSc1326Ba&default-theme=true

RNS Number : 1326B  Alpha Group International PLC  29 January 2024

29 January 2024

Alpha Group International plc

 

("Alpha" or the "Group")

 

Share Buyback Programme

 

Alpha Group International plc, a leading provider of financial solutions to
corporates and institutions, announces that it intends to commence a share
buyback programme to purchase ordinary shares of 0.2p each ("Ordinary Shares")
and has allocated up to £20 million from its cash reserves to the buyback
programme (the "Buyback Programme").  The Ordinary Shares purchased will be
held in treasury.

 

The Company has irrevocably instructed Liberum Capital Limited, the Company's
broker, to conduct the Buyback Programme on its behalf. The Buyback Programme
will be effected within certain pre-set parameters, including that the maximum
price paid per Ordinary Share shall be the higher of 105 per cent. of  the
average trailing 5 day mid-market closing price or an amount equal to the
higher of the price of the last independent trade of an Ordinary Share and the
highest current independent bid for an Ordinary Share, in accordance with the
authority granted at the Company's AGM (the "Authority").

 

The Buyback Programme will be effective from the date of this announcement and
will expire on the date of the Company's next Annual General Meeting, or
earlier, if the maximum aggregate consideration of £20 million has been
reached.

 

A buy-back of Ordinary Shares on any trading day may represent a significant
proportion of the daily trading volume and may exceed 25 per cent. of the
average daily trading volume. Accordingly, the Company will not benefit from
the exemption contained in Article 5(1) of the UK version of the Market Abuse
Regulation (Regulation (EU) No 596/2014) as incorporated into UK domestic law
by virtue of the European Union (Withdrawal) Act 2018.

 

The Company is satisfied that it is not currently in a closed period, nor is
it party to any inside information which has not previously been disclosed via
Regulatory Information Service.

 

Enquiries:

 

 Alpha Group International plc                  Via Alma PR

 Morgan Tillbrook, Founder and CEO

 Tim Powell, CFO
                                                +44 (0) 20 3100 2000

 Liberum (Nominated Adviser and Joint Broker)

 Max Jones

 Ben Cryer

                                                +44 (0) 20 7418 8900

 Peel Hunt (Joint Broker)

 Neil Patel

 Paul Gillam

 Richard Chambers
                                                +44 (0) 20 3405 0205

 Alma PR (Financial Public Relations)

 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 provide an enhanced alternative to traditional
banking services, with solutions covering: FX risk management, global
accounts, mass payments, fund finance, and cash management.

Key to our success is our team - over 400 people based across ten global
offices, brought together by a high-performance culture and a partnership
structure that empowers them to act as owners of our business.

Whilst we are 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, has enabled us to make a substantial
and enduring difference to our clients, and deliver a growth story to match.

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  POSSEMFAAELSEIF