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Alpha Returns Group plc (ARGP)

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Tuesday 23 September, 2014

Alpha Returns Group plc

Telistar: final tranche consideration paid

Telistar: final tranche consideration paid

Alpha Returns Group PLC
("Alpha Returns" or the "Company")
23 September 2014

Telistar - final tranche consideration paid

Further to the announcements made on 22 October 2013 and 17 February 2014, the Board of Alpha Returns, the AIM traded investing company focusing on investments in high-growth Asian economies, is pleased to announce payment of the final tranche consideration of S$412,500  in respect of its initial contracted investment in Telistar Solutions Pte. Ltd. ("Telistar"). S$165,000 was paid in cash with S$247,500 settled by the issue of 3,522,900 new ordinary shares of 0.01p each in the capital of the Company at an agreed price of 3.429p per share. At the Company's closing price of 3.8p per share on 22 September, the final tranche consideration is valued at approximately £213,000. The Company has in consequence been transferred, via its wholly owned subsidiary Shidu International Limited ("SIL"), with a further 18.75 per cent. shareholding in Telistar, taking its total shareholding to 52.5 per cent..

Telistar, an unquoted Singapore incorporated IT service solutions provider, will continue to be operated independently by its experienced management team and the Company will, through SIL, be entitled to appoint one director, who will act as Chairman, to the existing 2 man Telistar board. In its year ended 31 December 2013, Telistar made an audited pre-tax profit of S$215,000 (2012: S$128,000) on turnover of S$4,578,000 (2012: S$3,035,000) and had net assets at that date of S$574,000.

Application will be made for the 3,522,900 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 29 September 2014. The enlarged issued share capital of Alpha Returns with voting rights attached consists of 631,161,105 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 631,161,105, 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 7220 9797
Duncan Vasey / Lucy Williams

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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