Revision to APS Employee Share Ownership Scheme
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 £0.002 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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