Alpha FX Group PLC Netherlands Office Share Ownership Scheme (1120A)
28 May 2021 - 4:00PM
UK Regulatory
TIDMAFX
RNS Number : 1120A
Alpha FX Group PLC
28 May 2021
28 May 2021
Alpha FX Group plc
("Alpha FX", the "Company" or the "Group")
Netherlands Office Share Ownership Scheme
Alpha FX Group plc (AIM: AFX), a provider of FX risk management
and alternative banking solutions to corporates and institutions
internationally, today announces a share ownership scheme for those
individuals responsible for launching the Company's operation in
Amsterdam.
Following the establishment of our Netherlands business in 2020,
the Group is now issuing new shares to incentivise key personnel
within the subsidiary Alpha FX Netherlands Limited.
As a result of issuing the new shares, the share capital of
Alpha FX Netherlands Limited (the "Subsidiary") will be 83.5% owned
by Alpha FX Limited, with the balance split between two key
individuals, Alex Sinkinson and James Young (Alex Sinkinson and
James Young being the "Participants"). The Participants have the
option to transfer their shares in the Subsidiary for shares in the
Company under an agreement signed with Alpha FX Limited and the
Company. Under this agreement, the Participants are able to
exchange 25% of the shares they hold in the Subsidiary for new
ordinary shares in the Company for each of the financial years
ended 31 December 2023, 31 December 2024, 31 December 2025 and 31
December 2026. The Subsidiary shares exchanged by the Participants
will be valued with reference to an 8x multiple of underlying
profit after tax achieved by the Subsidiary. Following the exchange
of Subsidiary shares into ordinary shares in the Company, Alpha FX
Limited's shareholding over Alpha FX Netherlands Limited will
commensurately increase.
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
Kane Collings
Alma PR (Financial Public Relations) Tel: +44 0203 405 0205
Josh Royston
Andy Bryant
Kieran Breheny
Notes to Editors
Alpha provides FX risk management and alternative banking
solutions to corporates and institutions across the UK, Europe and
Canada. Combining leading expertise and technology, the Group
partners with a small number of high value clients to provide
enterprise-level solutions across four key areas: FX risk
management, international payments, accounts and collections. Since
it was incorporated in 2010, Alpha FX has been able to build and
retain a high-quality client base that includes a number of highly
respected brands.
Market Abuse Regulation
This announcement is released by Alpha FX Group plc and contains
inside information for the purposes of the Market Abuse Regulation
(EU) 596/2014 ("MAR") and is disclosed in accordance with the
Company's obligations under Article 17 of MAR. The person who
arranged for the release of this announcement on behalf of Alpha
FX
Group plc was Tim Kidd, Chief Financial Officer.
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END
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