Alpha FX Group PLC Revision to APS Employee Share Ownership Scheme (5459W)
23 December 2021 - 5:59PM
UK Regulatory
TIDMAFX
RNS Number : 5459W
Alpha FX Group PLC
23 December 2021
23 December 2021
Alpha FX Group plc
("Alpha FX" or the "Group")
Revision to Alpha Payments Solutions Employee Share Ownership
Scheme
Following the continued success of the Alpha Platform Solutions
Division ("APS"), the Group has adjusted the APS employee share
ownership scheme to include additional new employees. In order to
enable equity to be awarded to the new employees to support the
ongoing growth of the division, Adam Dowling, Managing Director of
APS, has agreed to reduce his shareholding in Alpha FX Limited from
10% to 7.5%, and the Group has agreed to reduce its shareholding in
Alpha FX Limited from 82% to 81.6%. As a result, a new class of
non-dividend bearing and non-voting D3 shares ("D3 Shares") has
been issued to 3 employees ("D3 Shareholders") and another new
class of non-dividend bearing and non-voting D4 shares ("D4
Shares") has been issued to 15 employees ("D4 Shareholders"). The
value of the D3 Shares and D4 Shares will be linked to the
performance of the APS business and are structured in a similar way
to the existing D shares issued in 2019.
The D3 Shareholders will have the option to convert 25% of their
holding of D3 Shares into ordinary shares of GBP0.002 in the Group
(" Group Shares") each year for four years commencing from March
2024 (with the final option being exercisable in March 2027). The
D4 Shareholders will have the option to convert 25% of their
holding of D4 Shares into Group Shares each year for four years
commencing from March 2025 (with the final option being exercisable
in March 2028). At conversion, and in exchange for converting their
D3 shares and D4 Shares into Group Shares, the D3 shares held by
the D3 Shareholders and the D4 Shares held by the D4 Shareholders
in Alpha FX Limited will commensurately decrease and the Group's
holding 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
Cameron Duncan
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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