Alpha Returns Group PLC
("Alpha Returns" or the "Company")
31 August 2016
Investment in New Trend Lifestyle Group PLC ("NTLG")
Alpha Returns, the AIM traded investing company focusing on investments in high-growth Asian economies, is pleased to announce that its wholly owned subsidiary ARGP Investments Limited ("ARGPI") has made an investment of £100,000 in NTLG for 8,333,333 ordinary shares of NTLG at a price of 1.2p per share, representing 6.67% of its enlarged issued ordinary share capital.
NTLG was founded in 2005 and is a Singapore based Feng Shui products and services provider admitted to trading on AIM. Its services include building and office design consultancy, astrology readings, marriage matching, aura readings and business talks and seminars for large corporations. During its year ended 31 December 2015 NTLG made a loss from continuing operations of S$1.08 million (approx. £0.51m) on total revenue of S$7.85 million (approx. £3.74m) and had net assets at that date of S$1.99 million (approx. £0.94m).
The £100,000 investment by ARGPI is part of a placing of £300,000 completed by NTLG to fund their acquisition search and due diligence requirements as part of their strategy to grow their existing business by suitable complementary acquisitions in the Asia region, itself part of a growth plan to restore NTLG to profitability. ARGPI has undertaken not to dispose of its investment, which has been made subject only to Admission, for a 12 month period from issue without the consent of NTLG and its broker.
For further information:
|Alpha Returns Group plc|| Christopher Neo|
|020 3286 6388|
|ZAI Corporate Finance Ltd (NOMAD)||Peter Trevelyan-Clark / Tim Cofman||020 7060 2220|
|Peterhouse Corporate Finance (Broker)||Duncan Vasey / Lucy Williams||020 7220 9797|
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Alpha Returns Group plc via Globenewswire