7 Apr 2017 08:00
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
This announcement does not constitute an offer of securities for sale or subscription in any jurisdiction. Investors should not subscribe for or purchase any securities referred to in this announcement except in compliance with applicable securities laws and on the basis of information in the admission document (the "Admission Document") published by Alpha FX Group plc on 3 April 2017 in connection with the offer of its ordinary shares (the "Shares") and the admission of its Shares to trading on AIM, a market of London Stock Exchange plc (the "London Stock Exchange"). Copies of the Admission Document are available from the Company's website www.alphafx.co.uk
7 April 2017
Alpha FX Group plc
("Alpha", the "Company" or the "Group")
ADMISSION TO AIM AND FIRST DAY OF DEALINGS
Alpha FX Group plc is pleased to announce that admission of its ordinary shares to trading on the AIM market of the London Stock Exchange ("Admission") will take place and dealings will commence at 8.00am today under the ticker "AFX" and with an ISIN number of GB00BF1TM596.
Alpha is a founder led, UK-based corporate foreign exchange service provider focused on managing exchange rate risk for UK corporates that trade internationally. The Company's primary client base consists of medium sized corporates 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 brands such as ASOS, Holland & Barrett and Global Data.
Highlights:
· Placing of 15,306,123 ordinary shares to raise £30 million gross proceeds
· The IPO attracted strong support from high quality institutional investors, resulting in an over-subscribed placing
· Based on the placing price of 196 pence per share, the Company will have a market capitalisation of £64.2 million at Admission
· For the financial years ended 31 December 2014, 2015 and 2016 the Group has achieved strong organic growth resulting in:
o total transaction volumes of £0.57 billion, £1.17 billion and £1.81 billion respectively;
o revenues of £2.96 million, £5.14 million and £8.48 million respectively, representing a compound annual growth rate of 69.2 per cent.;
o profits before taxes of £1.43 million, £2.83 million and £4.31 million respectively; and
o profits before taxes margins of 48.4 per cent., 55.1 per cent. and 50.9 per cent. respectively
· The total number of voting rights in the Company with effect from 7 April 2017 will be 32,761,979
Liberum Capital Limited ("Liberum") is acting as Nominated Adviser and Sole Broker to the Company.
Commenting on the IPO, Morgan Tillbrook, Founder and Chief Executive Officer of Alpha said:
"Joining AIM today marks an important milestone for Alpha and we are delighted with the interest we have received and the quality of the institutions that have invested. The success that we have achieved to date is evidence of the strength of our proposition and the quality of our team and culture. The new funds raised will enable us to continue enhancing our service delivery and allow for a greater volume of FX trades, as well as providing us with further working capital in order to scale the business. There are exciting times ahead and we would like to thank our clients, employees and new shareholders for supporting us during this transformational period."
Enquiries:
Alpha FX Group plc via Alma PR
Morgan Tillbrook, Founder and CEO
Tim Kidd, CFO
Liberum Capital Limited (Nominated Adviser and Sole Broker) Tel: +44 (0) 20 3100 2000
Neil Patel
Richard Bootle
Dominik Götzenberger
Alma PR (Financial Public Relations) Tel: 07580 216 203
Josh Royston
Helena Bogle
Hilary Buchanan
Notes to Editors
Alpha is a founder led, UK-based corporate foreign exchange service provider focused on managing exchange rate risk for UK corporates that trade internationally. The Company's primary client base consists of medium sized corporates 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 brands such as ASOS, Holland & Barrett and Global Data.
Important notice
Liberum Capital Limited ("Liberum"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and no one else in connection with the placing and Admission, and will not regard any other person as its customer or be responsible to any other person for providing the protections afforded to its customers, nor for providing advice in relation to the placing, Admission or any other transaction or arrangement referred to in this announcement. Liberum's responsibilities as the Company's nominated adviser under the 'AIM Rules for Companies' and the 'AIM Rules for Nominated Advisers' are owed solely to London Stock Exchange plc and are not owed to the Company or to any Director or to any other person in respect of such person's decision to acquire shares in the Company in reliance on any part of this announcement.
No representation or warranty, express or implied, is made by the Company or Liberum as to any of the contents of this announcement, including its accuracy, completeness or for any other statement made or purported to be made by it or on behalf of it, the Company, the Directors or any other person, in connection with the placing and Admission, and nothing in this announcement shall be relied upon as a promise or representation in this respect, whether as to the past or the future (without limiting the statutory rights of any person to whom this announcement is issued). Liberum does not accept any liability whatsoever for the accuracy of any information or opinions contained in this announcement or for the omission of any material information from this announcement for which the Company and the Directors are solely responsible.