Alpha Growth

327 days ago

Tom Winnifrith Bearcast: the apparent resignation of Victoria's auditors Grant Thornton

There has been no RNS but i am told it has happened so I discuss all matters Victoria (VCP) in detail. I also look at Alpha Growth (ALGW), reported to the FRC today, Tintra (TNT) to be reported tomorrow and to the FCA as well, Vast Resources (VAST), Ben’s Creek (BEN), Horizonte Minerals (HZM), Imperial Brands (IMB), Chill Brands (CHLL), HS2 and my date tomorrow with the Cheshire Filth.

347 days ago

Tom Winnifrith Bearcast: North Wales Police show themselves to be knobs & Gary is going to get a shock in the jungle

In today’s podcast which Matthew’s Dog and Catriona will enjoy I look at Alpha Growth (ALGW), Versarien (VRS), Horizonte Minerals (HZM), where the curse of O’Hara has hexed Gary Newman as he slumbers in the jungle, Canadian Overseas (COPL), the wretched failure of Sharon White at John Lewis and North Wales Police being such knobs. Why do I pay my taxes? 

347 days ago

BREAKING: Alpha Growth – Non compliant IFRS interims and correcting my omission to report Alpha to my good friends at the Financial Reporting Council

On 29 September 2023 at a leisurely 11.00 am, Standard Listed, Alpha Growth (ALGW) released its interim results for the six months ended 30 June 2023. Although total revenue was up from £1,633,445 to £2,498,710 reporting losses were £292,432.

544 days ago

Alpha Growth - Minority Buy Out: do the maths dummies!

Yesterday Alpha Growth (ALGW) announced the buy out of its 5% minority in its life insurance operations in exchange for shares in the listed group.

564 days ago

BOMBSHELL EXPOSE: Alpha Growth results – wholesale breaches of IFRS, FRC should be all over this!

Alpha  Growth (ALGW) published its accounts for the year ended 31 December 2022 on Tuesday. The FRC should be all over this one as the breaches of IFRS rules are material and on an industrial scale.

699 days ago

Alpha Growth – buys another sub scale life insurance company: questions, questions

Another deal more questions. Alpha Growth (ALGW) announced the completion of its purchase of Old Mutual International (Guernsey) Ltd which was initially announced on 24 March 2022.

785 days ago

Alpha Growth piss poor and non IFRS compliant interims, does anyone at the FCA care about enforcing its own rules?

Alpha Growth (ALGW) published its piss poor results for the six months ended 30 June 2022 today which showed a loss before tax of £454,635.  The shares were off 7% at the time of writing this article which values the group at £11 million a multiple of almost 4 times net assets.  This looks high compared to say Legal & General (LGEN) which runs asset management and insurance operations with longevity exposure which trades at a multiple of just over 1 times net assets, has massive scale and pays dividends. Alpha is less likely to join the dividend list than, well, Cheryl Cole and you know what.

850 days ago

BREAKING EXPOSE: Alpha Growth – the dodgy Prospectus and the non-compliant financial statements

Shareprophets has previously raised criticism of Alpha Growth’s (ALGW) accounting high jinks  HERE. But it gets worse. Far worse. And once again it is PKF Littlejohn as auditors which is enabling this travesty of accounting propriety.

937 days ago

The silver lining to the Covid cloud: shit companies like Alpha Growth have an excuse to delay publication of accounts

In my previous article, “Alpha Growth – accounts deadline confusion”, I highlighted that Gobind Sahney, Executive Chairman of Alpha (ALGW), seemed a little confused over the deadline date to report its year-end results.  Well today, via RNS, Alpha announced that:

964 days ago

Alpha Growth – accounts deadline confusion

Alpha Growth (ALGW) the Standard Listed sub scale asset manager and life insurance group does not employ a full time or even part time executive Chief Financial Officer which for a group that owns a regulated business in Bermuda and is in process of acquiring another regulated business in Guernsey is a serious deficiency. 

976 days ago

Alpha Growth: grossly overvalued and heading for an accounting crisis & share suspension

At some stage the FCA is going to wake up to this scandal and shares in this crock will be suspended. Here’s why. In today’s RNS Alpha (ALGW) the sub scale longevity specialist listed on the Standard List announced an Acquisition which included the following information.

1069 days ago

BREAKING DAMNING EXPOSE: Alpha Growth – the shambolic Prospectus is finally approved by the FCA but how and why? An essay in “not fit for purpose”.

Alpha Growth Plc (ALGW) has finally had FCA approval of its Prospectus for the Placing that occurred 10 months ago in February 2021. The FCA is supposed to ensure that any Prospectus issued complies with the rules but it is apparent from a quick read that the Prospectus has not been properly updated throughout the document as many of the references are considerably out of date. It looks like someone at the FCA just wanted to remove the Prospectus from his or her to do list prior to the Christmas holidays rather than subject the document to appropriate and proper scrutiny or perhaps it was simply signed off after a long Christmas lunch. I cite below some examples of where the document hasn’t been properly updated.

1069 days ago

UPDATED: Alpha Growth – is it placing ahoy? And as the FCA enforces new global warming rules does it care about basic listing rules anymore?

Alpha Growth (ALGW) announced today that it had appointed Arden Partners as broker to the company (replacing disgraced Pello Capital) and the Bulletin Board Morons reacted positively marking the shares up 11.5% at the time of writing to 3.35p, valuing the company at a quite ludicrous £14 million. 

1122 days ago

Alpha Growth: why still no Prospectus and will it get its 2nd interims restated in time to avoid a suspension?

Friday saw the publication of Alpha’s (ALGW) second interim results albeit no Prospectus has yet appeared on the FCA register of Prospectus almost 8 months after the placing occurred.  I show below why the results need to be restated dramatically. 

1130 days ago

Alpha Growth – why still no Prospectus and will it get its 2nd interims published in time to avoid a suspension?

Almost seven months after its acquisition of Providence Life Assurance Company Limited which was announced on 11 February and completed on 23 March 2021, Alpha Growth (ALGW) still hasn’t managed to issue its Prospectus to permit the trading of the 187,500,000 placing shares issued on 15 March 2021 to fund the acquisition.  This hardly inspires confidence that the enlarged group has the appropriate financial reporting expertise and resources appropriate to run its business which now includes a Bermudian regulated business. 

1201 days ago

Alpha Growth – where is the Prospectus?

I first commented about Alpha Growth (ALGW) on 8 April 2021 and the absence of a Prospectus in respect of its issue on 8 March 2021 via a placing of 187,500,000 shares at 2 pence per share.  The placing represented over 77.8% of existing ordinary share capital of Alpha prior to the placing.  The broker which organised the placing was Pello Capital which, as of Friday, is operating under restrictions imposed by the FCA, that is to say it cannot write any business at all other than allowing clients to transfer out cash and shares to other brokers.

1254 days ago

Alpha Growth Plc –where is the Prospectus for the acquisition announced on 11 February?

Alpha Growth (ALGW) is a company listed on the (Sub) Standard List of the LSE main market which specialises in the longevity asset space.  Its shares at time of writing are off 17% which values the company at £18 million.  For a company which reported turnover of just £90,264 and a loss of £223,971 in its last interim results, this is baking in a lot of hope value for its managed fund and its recent life insurance company acquisition.

2111 days ago

Tom Winnifrith Bearcast: 2 stocks I own, mega bullish on one, mega bearish on the other - guess which?

In today;s bearcast I discuss Alpha Growth (ALGW), Advanced Oncotherapy (AVO) and Optibiotix (OPTI) as well as Spain, the latest crisis in the special place in hell that is the EU.