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Alpha FX Group PLC (AFX)


Wednesday 21 March, 2018

Alpha FX Group PLC

Launch of institutional division

RNS Number : 3627I
Alpha FX Group PLC
21 March 2018

21 March 2018


Alpha FX Group plc

("Alpha" or the "Group")

Launch of institutional division

Alpha FX Group plc (AIM:AFX), a founder led, UK-based foreign exchange service provider, is pleased to announce that it is expanding its service offering to support institutional clients.

The Group has recruited a number of key individuals with a wealth of experience in supporting institutional clients with more effective and efficient strategies for managing currency volatility. In addition to expanding the Group's total addressable market, Alpha's proven value add service offering and leading innovative technology will significantly reduce the time and resource traditionally required from investment managers when managing and reporting on cross-currency exposures.

The institutional division will be jointly led by Ash Hall and Sam Marsh, both of whom already have significant experience leading a successful institutional foreign exchange division from inception. They will report directly to the Executive Directors of the Alpha Board.

In line with the Group's existing business model, the institutional division will not charge its clients consultancy or software subscription fees, instead monetising its services through a margin on transactions (as with a traditional foreign exchange provider). In doing so, the team intend to make their service accessible to the many institutions that wish to improve the efficiency and effectiveness of their currency management, but who have often been discouraged from doing so due to time or cost restraints.

In order to incentivise the key personnel within Alpha's institutional division a newly formed subsidiary, Alpha FX Institutional Limited, has been incorporated under Alpha FX Limited, the Group's existing subsidiary and main trading entity. The share capital of Alpha FX Institutional Limited will be 60% owned by Alpha FX Limited, with the balance split between five key individuals, including Ash Hall and Sam Marsh. Commencing three full years following incorporation, the individuals will have the option to convert a percentage of their holding into Group shares each year, based upon strict performance criteria. At conversion, and in exchange for converting their shares into the Group, Alpha FX Limited's shareholding over Alpha FX Institutional Limited will commensurately increase.

Ash Hall, Director of Alpha FX Institutional Limited, commented:

"In our experience, investment managers are often underserved by banks and traditional foreign exchange providers. Alongside the perennial problem of FX volatility, reporting obligations are becoming ever more complex, placing ever greater strains on investment managers. The experience that we have assembled, combined with Alpha's advisory approach and technology, means that we will be able to provide investment managers with genuine insight and guidance to help them better manage the impact exchange rate volatility can have on their investments and LP's."

Sam Marsh, Director of Alpha FX Institutional Limited added:

"The culture and reputation at Alpha was a deciding factor in starting this journey, with Alpha's entrepreneurial mindset and focus on creating highly tailored solutions mirroring our own ambitions to provide an institutional foreign exchange offering that truly puts the needs of its clients first."

Morgan Tillbrook, Founder and Chief Executive Officer of Alpha FX Group plc said:

"We had identified the institutional foreign exchange market as a potential opportunity for Alpha at the time of our IPO and are delighted to have formed a team with such experience and understanding of the market's specific characteristics and needs. We believe that this is an exciting step which will prove beneficial for all stakeholders and we look forward to updating shareholders on progress."




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


Alma PR (Financial Public Relations)                                                              Tel: 07780 901979

Josh Royston

Helena Bogle

Rebecca Sanders - Hewett


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.

Notes to Editors

Alpha is a founder led, UK-based foreign exchange service provider focused on managing exchange rate risk for UK corporates and institutions that trade internationally. The Company's primary client base consists of businesses and institutions across the UK and Europe that have a requirement to convert currency for a commercial purpose, such as buying or selling goods and services overseas, repatriating profits, or expatriating payroll. Since it was incorporated in 2010, Alpha has been able to build and retain a high-quality client base.



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