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Alpha Returns Group plc (ARGP)

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Friday 28 February, 2014

Alpha Returns Group plc

Alpha Returns Group plc : Additional Investment

Alpha Returns Group plc : Additional Investment

Alpha Returns Group PLC
("Alpha Returns" or the "Company")
28 February 2014

Further Investment in Telistar

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 its wholly owned subsidiary Shidu International Limited ("SIL"), acquired a further 15% shareholding in Telistar Solutions Pte. Ltd. ("Telistar"), an unquoted Singapore incorporated IT service solutions provider, for a total consideration of S$330,000, satisfied by the issue of 12,087,912 new ordinary shares of 0.01p each in the capital of the Company, which at yesterday's closing share price of 1.875p per share values the consideration at approximately £227,000.

This investment brings SIL's current shareholding in Telistar to 33.75% with a further 18.75% still to be acquired under the earlier agreement announced on 22 October 2013.  On acquisition of this outstanding 18.75%, the Company's interest in Telistar will be 52.5% and through SIL it will be entitled to appoint one director to the Telistar board who will act as the company's Chairman. Telistar will continue to be operated independently by its experienced management team. 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.

Application will be made for the 12,087,912 new ordinary shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective and dealings to commence on or around 6 March 2014. The enlarged issued share capital of Alpha Returns with voting rights attached consists of 512,547,230 ordinary shares of 0.01p each with one vote per ordinary share. There are no shares held in Treasury. The total number of voting rights in Alpha Returns is therefore 512,547,230, which figure may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest, or a change to their interest, in Alpha Returns under the Financial Conduct Authority's Disclosure and Transparency Rules.


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 NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
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


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