Member Info for gilesfitzh

See my post 13th Feb @ 17:01

I'm only saying news probably end March as that is 3 months since the Annual Report. Nominally the quarterly updates are due 31/3, 30/6, 30/9 and 31/12.

AGM is today, might get an RNS and report today. Monday is when the placing shares go live so there will be an RNS detailing the major participants and RNS's from existing TR-1 holders adjusting their percentages. Mine will go just below 3% so less admin. for me :)

Don't expect any 'goodies' until the end of March when GS has said the next update will be released.

GS tells me that there have been a few trades in the US OTC but it was mainly set up to cater for those who become interested in ALGW via the Insurance Company we've acquired so will be a little while yet.

@Daisy1963: Why do you say that GS went to the US to raise funds? Pello handled the placing.

In any Stock there are never any 'available' shares, there are only those shares that the MMs MIGHT have on their books to facilitate the requirement to 'Make a Market' in the Stock that they cover. Each MM will have a limit on how long or short a position they consider it is prudent to hold. IMO these long or short positions are minimal for ALGW at the moment. You can see where the tipping points were today.
After the trades at 12:35:33 and 12:41:21 the Offer was raised from 2.40 to 2.50 and the Bid from 2.20 to 2.30 indicating that the 1 million shares bought thus far had either exhausted the MMs long positions or reached their short position limit or a combination of both.
It only took net buys of some 400k further shares before the trade at 13:04:05 (basically just that 1 trade) to reach the next tipping point and push the Offer price from 2.50 to 2.60 followed by the Bid moving from 2.30 to 2.40 by 13:07:43.
The bid moving to 2.40 however brought out 875k of sells which is, of course, the reason the MMs raised the Bid and this enabled them to 'balance their positions' again.
What this all tells you is that if you buy about 1 million shares this will move the sp up by .10p to start with and further if this does not bring out someone prepared to sell. Also Vice Versa of course.
What nobody know is how many people are or will be buyers at what price and where existing shareholders are prepared to sell. Of course if you knew this you'd have made many £millions already :)
We do however know that enough people were prepared to buy 187,500,000 shares at 2p the other day with the added 'bonus' of warrants at 3p. That £3.75 million was invested at 2p surely creates a good platform for the future.

TerryDactil: The Warehouse Loan/Short Term credit Facility is ALMOST concluded. It has been ALMOST concluded for nearly a year. The Counterparty's internal procedures do not allow for this to be concluded without face to face meetings. GS has persuaded? them to allow direct investment(s) by the Counterparty in the interim and it is this that will be expanded upon in the update.

Daisy1963: None of the three milestones that I value at 5p/share has been achieved yet. For the Warehouse Loan see above. Re the G&I: "The Company continues to PROGRESS the Alpha Growth & Income strategy" but, as far as I know, the first investor has not yet been signed up. FYI this will take the form of an SPV (Special Purpose Vehicle) for each investor/investment saving the $150k-200k set-up costs that a fund like BOAGF requires. Re the BOAGF: GS has told me that he is very busy following up leads for further investors and has even travelled to 'the East Coast' but, obviously, he doesn't give me any details that are price sensitive so I only know about the $22 million total in BOAGF that was announced.

@TerryDactil: As I understand it: 'Workaround' Yes, the counterparty can/will made direct investment(s). 'Concluded' No, this will be done as soon as face to face meetings are possible/practicable.

Yes I do, mostly US tech such as Apple and Tesla. Also a little Games Workshop as I love D&D :p

Re PR / Comms:
Personally I think quarterly updates are adequate unless something momentous is achieved such as if a $50 million deal into the G&I fund was concluded, then I would expect an additional RNS.
What GS needs to do is change from over promising and under delivering to under promising and over delivering. Elon Musk has done this and Tesla shareholders are much happier. Boris needs to do this as well :p

Posts on BBs: No one on a BB is your friend. Many have an agenda. You are responsible for your investment decisions so make sure you do the research.
AGM: I can only see this as being 'virtual' as lockdown is due to continue until after the date set for the AGM. No idea how 1000s of shareholders could be accommodated.
Communication: ALGWs PR / Comms is pathetic, GS needs to up his game. On the other hand many PIs have unrealistic expectations regarding the frequency of news flow.
Obviously I think ALGW will deliver and I believe the SP will be many multiples of where it is atm BUT not the ridiculous x25 x50 bagger that some put in posts. My current valuation would put the SP at minimum 3.5p. With the addition of the RCF, the first $50 million investor in the G&I fund, and $100 million in the BOAGF = add 5p for each.
All IMO etc.

@bots: Where are you getting the AGM date/location from? I don't see anything about it and the ALGW web site is not showing anything later than Jan 15th. Also seems weird as we'll all still be in lockdown. Mind you, while I'd like GS/DS/JS to get their butts over here and finalise the RCF, I don't think it would be wise.

Some of the info. given in the placement proposal documents provided to me weren't clearly stated in the RNS but as I am no longer 'inside', I am free to disseminate this and my fellow PIs might find it helpful.
Here are the main points from a couple of documents:
Doc1:
Alpha, through a wholly owned Bermuda domiciled SPV, is acquiring 95% of the parent company of insurer. The parent company is currently owned by one individual who will retain the remaining 5% and continue as a director/advisor. Acquiring the parent company than the IC directly, resolved many regulatory and timing issues for this transaction.
•Immediate accretion of over $270 million in assets under management generating fee revenue.
•Proforma 2021 net profit after tax is ~$487,000. Lean operating structure mirroring Alpha management style.
•Acquisition opportunities at the insurance company level currently in review with management, that could accrete over ~$1.5b in assets under management and add ~$2m+ to net income over the next 12 months.
•Relationships with global network of financial advisors to UHNWI.
•Alpha sees this opportunity as fulfilling and building on its strategies. The life insurance license provides opportunities on a global level to attract investors into Alpha’s funds, increase AUM in longevity assets, source clients for longevity risk coverage, and relationships in the reinsurance market. All of these strategies generate sticky and predictable income combined with a lean operating structure.
Doc2:
Alpha is acquiring 95% for US$3.95m -valuation was conducted by a well known third-party actuarial firm.
•Alpha directing a fund raise of £3.2m through Pello Capital –100% of proceeds to be used in the acquisition.
•Approximately US$2m of cash remains in insurance company as part of surplus –remains as permanent capital of company.
•Current valuations of similar* asset management companies (none have the regulated license that we do in order to provide insurance based wealth management solutions) have an average 29x PE Ratio.
•At current earnings not including any acquisitions insurance company alone will add over £10m in market cap value -over 3x of investment.

So this week is shaping up to be a good one.
Positive, even transformational, news for ALGW
The wife and I are due our first Covid jabs tomorrow afternoon.
Sunday is our 45th wedding anniversary :)

@BobbyAxlerod: It's my son who is needing the house, he has 5 kids!!! But if I'd had funds, Yes I would have. Buying ALGW at 2p is a no brainer IMO and with the added incentive of the warrant at 3p it's a steal :)

There are 2 separate bundles of warrants in the announcement.
First there are 18,750,000 warrants issued to Pello at 2p. Pello are thus 'paid' 10% for handling the placing in warrants, this just means that they don't have to pay for shares until they decide to sell. When they sell, they exercise the warrants, receive the shares and sell them for a profit all at the same time.
Then there are the 187,500,000 warrants issued at 3p to those who subscribed to the placement on a 1 for 1 basis. This is the incentive for giving ALGW £3,750,000 so that ALGW can buy the Parent Company of the Bermuda based Insurance Company. This doesn't really cost ALGW or it's shareholders anything as ALGW will receive 3p for each share it eventually issues to those that exercise their warrants. It just means that at some point in the future ALGW will issue up to 187,500,000 shares at 3p each when the actual share price is above 3p. You and I just need to remember this and, once the SP is at 3p and likely to go further, consider the Total shares in issue as being 187,500,000 more than it actually is.

My post of earlier today was drafted a week ago and tweaked this morning when I had the exact figures. It is based on the info. that I had as 'an insider' which was mostly published in today's RNS. In the course of my telephone conversation with GS I informed him of the disbelief by most PIs that the RCF couldn't be signed off using Zoom or similar. He told me that the internal policy of the lender does not allow them to conclude the deal without face to face meetings between the interested parties and their lawyers. I strongly suggested that he make this clear in today's RNS but he has chosen not to. I have to agree with the opinion of most PIs that ALGW's PR / Comms is lamentable. He did tell me that he has made a proposal to the RCF lender for 'interim' business but I am not at liberty to divulge details.

@Stalin_ESQ: Looks as if you need to re-read the RNS and maybe my post below.
"(that looks to be loss making)" = Proforma 2021 NET profit after tax is circa $487,000.
You can call it dilution, I prefer to think of it as £3,750,000 worth of new (long term according to Pello) investors who believe that ALGW is a great investment.

I guess the most certain way would be to open an account with Pello. This is not a recommendation and I don't have an account with them.