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Alpha Returns Group plc (ARGP)

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Thursday 29 January, 2015

Alpha Returns Group plc

Trading Update

Trading Update

Alpha Returns Group plc
("Alpha Returns" or the "Company")

Trading Update

29 January 2015

Alpha Returns, the AIM traded investing company focussing on investments in high-growth Asian economies, is pleased to provide the following update on its investment portfolio.

Oriental Ventures Limited ("Oriental Ventures")/Shenzhen Maxlife Catering Management Ltd. ("MaxLife")

The Company announced a 30 per cent. indirect investment in Oriental Ventures on 31 March 2014 which was subject to a number of preconditions including the acquisition by its wholly owned subsidiary Oriental Ventures Hong Kong Limited ("Oriental Ventures HK") of Maxlife, a start-up coffee chain business operating in the PRC. It was expected that this acquisition of MaxLife would occur around the end of 2014 with the vendor of Oriental Ventures using his best endeavours to procure fulfilment of the other conditions precedent by 29 March 2015, with a long stop date of up to 30 business days thereafter. The timetable for completion of the Company's indirect investment in Oriental Ventures/Maxlife is likely to be delayed with Chinese regulatory clearances still to be granted. The Company envisages that an extension of the long-stop date will be negotiated if required and will update the market on progress. Consideration of HK$5,812,500 cash (then c. £451,000) was paid to the vendor of Oriental Ventures in March 2014 and deferred consideration to be satisfied by the issue of  32,142,857 new ordinary shares in Alpha Returns is payable on completion.

Riche Bright Group Limited ("Riche Bright")/MY Securities Limited ("MY Securities")

The Company is pleased to announce that since its now 60 per cent. owned joint-venture investment vehicle Riche Bright completed its acquisition of  MY Securities on 7 August 2014, trading at MY Securities has significantly improved with unaudited management accounts showing a return to profitability. Unaudited commission income for the 9 month period ended 31 December 2014 showed an increase of over 250 per cent. on the audited commission income for its full year ended 31 March 2014. MY Securities continues to operate under its former operational management, with one independent executive director and Riche Bright as a non-executive corporate director.

Telistar Solutions Pte. Ltd. ("Telistar")

Further to the Telistar contract announcement of 4 December 2014, on 12 December 2014 the Company advanced Telistar an unsecured 4% S$100,000 one year term loan to provide it with additional working capital to support the execution of the 4 year IT Services contract.

Contact details:

Alpha Returns Group plc  Christopher Neo
Executive Director
020 3286 6388
ZAI Corporate Finance Ltd (NOMAD) Peter Trevelyan-Clark / Ivy Wang 020 7060 2220
Peterhouse Corporate Finance (Broker)  Duncan Vasey / Lucy Williams  020 7220 9797

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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