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.
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
Alma PR (Financial Public Relations) Tel: +44 0203 405 0205
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.