19 Dec 2017 07:00
Alpha Returns Group PLC
("Alpha Returns" or the "Company")
19 December 2017
Financial Proposals
Update on appointment of Nominated Adviser
Suspension of trading
Alpha Returns Group PLC (AIM: ARGP) announces that it has received from the Company's broker proposals for a capital injection into the Company. The proposals include an open offer to existing shareholders and it is intended that this will take place in conjunction with a re-structuring of the existing investments, the broadening of geographical focus to incorporate Europe, together with various changes and appointments to the Board. .
Accordingly, and further to the announcement of 18 October 2017, Beaumont Cornish Limited will not be in a position to provide all relevant nominated adviser confirmations to the Exchange by 5pm on 19 December 2017 and so will no longer be acting as nominated adviser to the Company. Therefore, pursuant to AIM Rule 1, the Company's AIM securities have been suspended. If, within one month of suspension, the Company has failed to appoint a nominated adviser, the admission of its AIM securities will be cancelled.
The Company is evaluating the proposals with its advisers, including Beaumont Cornish Limited, and would hope to be in a position to announce further developments in the New Year.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014
For further information:
Alpha Returns Group plc | Christopher Neo Executive Director | 020 3286 6388 |
Beaumont Cornish Limited (Nomad) | Roland Cornish/Rosalind Hill Abrahams | 0207 628 3396 |
Peterhouse Corporate Finance (Broker) | Duncan Vasey/Eran Zucker | 020 7220 9797 |