TIDMALGW
RNS Number : 7809I
Alpha Growth PLC
16 December 2020
16 December 2020
Alpha Growth plc
("Alpha", or the "Company")
Alpha cross lists its shares on the New York OTCQB(R) Market
Alpha Growth Plc (LSE: ALGW), the financial services specialist
in the growing Senior Life Settlement ("SLS") asset class is
pleased to announce it has qualified for trading on the OTCQB(R)
("OTCQB Market") in the United States operated by OTC Markets Group
Inc ("OTC Market"). Alpha's ordinary shares of GBP0.001 each
("Ordinary Shares") will commence trading today on the OTCQB Market
under the ticker symbol "ALPGF". Alpha's Ordinary Shares will
continue to trade on the London Stock Exchange's Standard List
market under the symbol "ALGW".
Gobind Sahney, CEO of Alpha, said: "This is another milestone in
Alpha's development as we drive increased awareness in the US of
our BlackOak Alpha Growth Fund. We are marketing to over 30,000
Registered Investment Advisors who wish to learn more about the
fund's general partner and follow Alpha's growth and invest in its
shares."
The listing on the OTCQB Market will allow Alpha's Ordinary
Shares to be traded by broker-dealers in the United States. Alpha
was sponsored by B. Riley Securities, Inc. ( www.brileyfin.com ) a
registered broker dealer and member in good standing with FINRA.
Initially, B. Riley will act as the Company's market maker in the
United States. Pello Capital continues to be the Company's
corporate broker in the UK.
B. Riley Securities, Inc. is a full-service investment bank and
subsidiary of B. Riley Financial, Inc., based in Los Angeles with
offices across the United States, providing corporate finance,
research, sales and trading services.
Speaking of the strategic step made by Alpha, Jonathan Dickson,
VP of International Corporate Services at OTC Markets, said: "We
are delighted to welcome Alpha Growth Plc to the OTCQB Market. With
its primary listing remaining on the LSE Standard List, the OTCQB
Market cross trading facility will provide investors in the United
States with the ability to access Alpha's Ordinary Shares in U.S
dollars during U.S market hours."
The OTC Market supports international companies seeking to
strengthen visibility and transparency in the U.S. public market.
Trading on the LSE Standard List and on the OTCQB Market will
enable Alpha to efficiently build global investor awareness and
provide U.S investors with a seamless trading facility, enabling
investors to trade through the broker of their choice more
easily.
The Company continues to be confident that, continuing low
interest rates, continued volatility in the equity markets and the
non-correlation of SLS assets, it will be able to continue its
strategies, and take advantage of further opportunities as and when
they arise in the longevity asset sector.
The Directors thank the shareholders for their continuing
support and look forward to making progress on all strategies in as
timely a manner as possible. Further details are provided on the
Company website www.algwplc.com .
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
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
Pello Capital Limited +44 (0) 20 7710 9610
Mark Treharne mt@pellocapital.com
OTC Markets Group
Jonathan Dickson +44 (0) 20 3950 7235
jonathan@otcmarkets.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, 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 institutional investors who are
in need of specialised skills and unique access to deploy their
financial resource in longevity assets.
SLS Assets and Non-correlation
A SLS refers to the sale of an existing life insurance policy to
a third party for a cash payment. Such a payment will be in excess
of the policy's surrender value, but less than its face value.
After the sale, the purchaser becomes the policy's beneficiary and
assumes payment of its premiums. There are many reasons why policy
holders may choose to sell their life insurance policies and sales
are usually only undertaken when the insured person doesn't have a
known life-threatening illness. The SLS provides individuals with
policies the option to realise value from an asset under a
regulated transaction. As a longevity asset, the SLS 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 SLS Assets that
originate in the USA where the SLS market is highly regulated.
About the OTC
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX(R) Best
Market, the OTCQB(R) Venture Market and the Pink(R) Open Market for
10,000 U.S. and global securities. Through OTC Link(R) ATS and OTC
Link ECN, OTC Markets connect a diverse network of broker-dealers
that provide liquidity and execution services. This enables
investors to easily trade through the broker of their choice and
empower companies to improve the quality of information available
for investors.
OTC Markets Group is the U.S home to many of the world's largest
established brands such as Roche, adidas, Heineken, Marks &
Spencer's and Danone.
ENDS
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