Issue of Equity

RNS Number : 9737W

Alpha FX Group PLC

24 April 2019

 

24 April 2019

Alpha FX Group plc

("Alpha" or "Company")

Issue of Equity

Under the terms of the Company's previously announced C Share Growth Scheme, 863 C ordinary shares ("C Shares") in Alpha FX Limited, the Company's main trading subsidiary, were issued to full-time employees of the Company. The C Shares contain a put option, such that, when and to the extent vested, they can be converted into new ordinary shares in the Company. The rate of conversion is that the C Shares will be regarded as worth a pro rata share of the share price gain of the Company above a hurdle price based upon the market price of the Company's ordinary shares at time of allotment.

The Company notes that two participants in the C Share Growth Scheme have chosen to convert their vested C Shares in respect of the period to 31 December 2018. Accordingly, 1,546 new ordinary shares will be issued to those participants.

Application has been made for the new ordinary shares to be issued under the C Share Growth Scheme to be admitted to trading on the AIM market of the London Stock Exchange and admission is expected to occur on 25 April 2019.  Following the issue of the new ordinary shares, the issued share capital of the Company will comprise 37,123,956 ordinary shares, each with one voting right. This figure will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Alpha FX Group plc                                                                                                     via Alma PR

Morgan Tillbrook, Founder and CEO

Tim Kidd, CFO

Henry Lisney, COO

Liberum Capital Limited (Nominated Adviser and Sole Broker)              Tel: [phone]

Neil Patel

Richard Bootle

Kane Collings

Alma PR (Financial Public Relations)                                                                      Tel: [phone]

Josh Royston

Helena Bogle

Rebecca Sanders - Hewett

Notes to Editors

Alpha is a foreign exchange service provider focused on managing exchange rate risk for corporates and institutions that trade internationally. The Group's primary client base consists of corporates and institutions that have a requirement to convert currency for a commercial purpose, such as buying or selling goods and services overseas, repatriating profits, or expatriating payroll. Since it was incorporated in 2010, Alpha has been able to build and retain a high-quality client base that includes a number of highly respected household brands.

 

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