24 Apr 2019 15:00
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: +44 (0) 20 3100 2000
Neil Patel
Richard Bootle
Kane Collings
Alma PR (Financial Public Relations) Tel: 07780 901979
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.