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Alpha Returns Group plc (ARGP)

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Tuesday 13 December, 2016

Alpha Returns Group plc

Termination of Investment

Termination of Investment

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

13 December 2016

Termination of Investment in Jesoft International Limited ("Jesoft")

The Company is pleased to announce that its wholly owned subsidiary ARGP Investments Limited ("ARGPI") has entered into an agreement ("Termination Agreement") for the termination of the conditional sale and purchase agreement ("SPA") for the acquisition of 50 per cent. of the issued share capital of Jesoft from Wuxopi Group Limited (the "Vendor"). As announced on 7 July, the preconditions relating to the Company's conditional indirect investment in Jesoft had not been satisfied by the extended long-stop date.

Under the terms of the Termination Agreement, the Vendor shall make a cash payment of HK$928,125 (approximately £94,200) on or before 21 December 2016 as full and final repayment of the initial consideration of 17,394,054 ARGP ordinary shares paid by ARGPI, which at yesterday's closing price of 0.4p per share had a value of approximately £69,600. This compares to the book value of the conditional investment of £295,700 as at 30 June 2016 in the Company's consolidated accounts. Once the repayment has been made in full, the SPA shall terminate and be of no effect and none of the parties shall be under any obligation or liability in respect of the SPA.

-ends-

For further information:

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

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No. 596/2014.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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