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The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

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CHANGES TO OUR PRIVACY POLICY

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CONTACT

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Alpha Returns Group plc (ARGP)

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Tuesday 22 October, 2013

Alpha Returns Group plc

Statement re first investment

Statement re first investment

Alpha Returns Group PLC
("Alpha Returns" or the "Company")
22 October 2013

First Investment

The Board of Alpha Returns, the AIM traded investing company focusing on investments in high-growth Asian economies, is pleased to announce that it has, via a wholly owned subsidiary, contracted to acquire as its first investment a 37.5% shareholding in Telistar Solutions Pte. Ltd. ("Telistar"), an unquoted Singapore incorporated IT service solutions provider for a total consideration of S$1,025,000 (approximately £511,500) payable over the next two years.  

Telistar has expanded its product offering over the last three years from being a pure IT hardware distributor to encompass higher margin IT services and software solutions with a base of stable and large customers over diverse industries.  With an experienced management team, Telistar has significant growth potential into 2014 and beyond and plans expansion initially into mainland China. In its year ended 31 December 2012, Telistar made an audited pre-tax profit of S$128,000 on turnover of S$3,035,000 and had net assets at that date of S$379,000.

The acquisition is being effected by means of a partial assignment to Shidu International Limited ("SIL") of a sale and purchase agreement by Hong Kong registered Wupoxi Group Limited, for an initial cash consideration of S$350,000 (approximately £175,000). Further cash consideration of S$262,500 (approximately £131,000) is payable on or before 31 December 2013 with a final tranche of S$412,500 (approximately £206,000) payable on or before 31 December 2014, of which S$165,000 is payable in cash and S$247,500 is to be settled by the issue of new ordinary shares of 0.01p each in the capital of the Company at a 10% discount to a 10 day average closing price. The Company will receive an initial 18.75% shareholding via SIL on payment of the second tranche consideration with a further 18.75% on payment of the final tranche at which stage it will be entitled to appoint one director to the Telistar board who will act as the company's Chairman.  

Commenting on the investment, Christopher Neo, executive director, said: "We believe our investment in Telistar to be an exciting first step for Alpha Returns with significant upside potential and a strong long-term sales pipeline into 2014 and beyond and we look forward to announce further investments within the Asia-Pacific area."

-ends-

For further information:

Alpha Returns Group plc
Christopher Neo, Executive Director        020 3286 6388

ZAI Corporate Finance Limited (Nomad)        020 7060 2220
Peter Trevelyan Clark / Ivy Wang

Peterhouse Corporate Finance (Broker)        020 7469 0935
Jon Levinson




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Alpha Returns Group plc via Thomson Reuters ONE

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