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Alpha Returns Group plc (ARGP)

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Thursday 04 December, 2014

Alpha Returns Group plc

Further re Telistar

Further re Telistar

Alpha Returns Group PLC
("Alpha Returns" or the "Company")
4 December 2014

Further re Telistar

Alpha Returns, the AIM traded investing company focusing on investments in high-growth Asian economies, is pleased to announce that its 52.5 per cent. investee company Telistar Solutions Pte. Ltd. ("Telistar") has been awarded a 4 year IT services contract with a full contract value of S$2.592 million (approximately £1.26 million), spread evenly over the 4 year life of the contract.  This compares to Telistar's audited turnover of S$4,578,000 in its year ended 31 December 2013.  The Company is in discussions with Telistar management to provide an unsecured 4% S$100,000 one year term loan to provide it with additional working capital to support the contract execution.

As previously announced, Telistar, an unquoted Singapore incorporated IT service solutions provider, is operated independently by its experienced management team and the Company is, through its wholly owned subsidiary Shidu International Limited, entitled to appoint one director, who will act as Chairman, to the existing 2 man Telistar board.


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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