The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
Alpha Growth plc
("Alpha" or the "Company")
Acquisition of Jeometri Insurance Managers (
Complementary Financial Services Company Strategic Acquisition
Alpha Growth plc (LSE: ALGW and OTCQB: ALPGF), a leading financial services specialist in life insurance-linked wealth and asset management, is pleased to announce that it has received regulatory approval and completed its strategic acquisition of 93.36% of the outstanding shares of Jeometri Insurance Managers (
The consideration paid for the acquisition of Jeometri was
Joining the Alpha group of companies enhances Jeometri's visibility within the market place and provides it with the support required to accelerate its growth. With Jeometri's advanced solutions and its global clientele, we'll unlock significant opportunities for Alpha's life insurance businesses.
Moreover, Jeometri will deliver services currently provided by third parties for Alpha International Life Assurance Company in
Gobind Sahney, Alpha's Chairman and CEO added: "We are very pleased to have received the Guernsey Financial Services Commission's change of control approval and to be able to expand our insurance services offering in
We are also pleased to share that the group's 'buy strategy' is progressing well, and I look forward to updating our shareholders on our acquisition pipeline in due course.
The board of Alpha remains confident in our ability to achieve our goal of
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For more information, please visit www.algwplc.com or contact the following:
Alpha Growth plc |
+44 (0) 20 3959 8600 |
Gobind Sahney, Executive Chairman |
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Allenby Capital Limited |
+44 (0) 20 3328 5656 |
Amrit Nahal (Sales and Corporate Broking) |
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Nick Athanas / Piers Shimwell (Corporate Finance) |
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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
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
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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