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Alpha Returns Group plc (ARGP)

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Monday 14 September, 2015

Alpha Returns Group plc

Investment update

Investment update

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

 14 September 2015

Investment Update
Riche Bright Securities Limited ("RB Securities") (formerly MY Securities Limited)

Alpha Returns, the AIM traded investing company focussing on investments in high-growth Asian economies, is pleased to provide the following update on  RB Securities, a member firm of the Stock Exchange of Hong Kong Limited (formerly MY Securities Limited ("MYS") and recently renamed) which is a wholly owned subsidiary of the Company's 70 per cent. owned joint-venture investment vehicle Riche Bright Group Limited ("Riche Bright").

On 29 January 2015 the Company announced that trading at RB Securities had significantly improved since Riche Bright completed its acquisition on 7 August 2014, with unaudited management accounts for the 9 month period to 31 December 2014 showing a return to profitability on significantly increased commission income. The Company is now pleased to update that the improved trading of RB Securities has continued into the first quarter of 2015 with audited annual accounts for RB Securities' year ended 31 March 2015 showing pretax profits of HK$5.356m (2014: losses HK$ 0.554m) on commission fee income of HK$12.450m (2014: HK$ 1.995m) and a profit after tax of HK$4.916m (2014: losses HK$ 0.554m). The directors of RB Securities have also declared and paid a dividend of HK$1 million (£83,000).

Commission fee income included HK$8.597m (2014: Nil) with Sze Thye Group Limited  ("Sze Thye"), of which HK$8.25m (approx. £655,000) was after the Riche Bright acquisition of MYS and HK$2.48m (approx. £197,000) in 2015. Commission on Sze Thye trades through RB Securities was charged at a minimum rate of 0.125% of the total value of transactions, in accordance with the terms of the client agreement between MYS and Sze Thye dated 28 March 2014, as amended in May 2014. Sze Thye is a substantial shareholder in the Company with 28.04 per cent. of the Company's issued ordinary share capital. The directors of Alpha Returns (all of whom are independent of Sze Thye), having consulted with the Company's nominated adviser, consider that the terms of the client agreement between MYS and Sze Thye, and hence the terms of all individual transactions between MYS/RB Securities and Sze Thye, to be fair and reasonable insofar as the Company's shareholders are concerned. There has been no commission fee income from Sze Thye during the period since 31 March 2015.

Additional disclosures in respect of RB Securities

D&I Developments Limited ("D&ID") charges RB Securities rental income of HK$120,000 pcm in respect of its offices at 32/F West Tower, Shun Tak Centre, HK in accordance with the terms of a rental agreement dated 1 July 2014 (previously HK$40,000 pcm) and renewed at the same rental for a further two year period on 8 July 2015. D&ID is beneficially owned by Mang King Chung Dennis (the ultimate beneficial owner of MYS prior to its sale on 7 August 2014 to Riche Bright) and his wife. Additionally, Tsui Wai Kei (a director of MYS/RB Securities) was one of three directors of D&ID until 7 August 2015. The directors of Alpha Returns, having consulted with the Company's nominated adviser, consider the terms of the rental agreement to be fair and reasonable insofar as the Company's shareholders are concerned. During MYS's year ended 31 March 2015, rental income of HK$1.26m (2014 HK$0.72m) was paid to D&ID.

For further information:

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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