Alpha Launches New £20 Million Share Buyback Program

Alpha Group International plc, a provider of financial solutions to corporates and institutions, has announced the commencement of a new share buyback program, allocating £20 million from its cash reserves to purchase ordinary shares of 0.2p each. This decision follows the conclusion of a prior £20 million buyback program on June 27, 2024. After reviewing its cash position, the Board determined that sufficient cash balances and the prospect of continued cash generation justified another buyback initiative.

The company has authorized Liberum Capital Limited, its broker, to execute the buyback program within pre-set parameters. These parameters stipulate that the maximum price paid per ordinary share will be the higher of 105% of the average trailing 5-day mid-market closing price or the highest current independent bid for an ordinary share. This is in accordance with the authority granted at the company's Annual General Meeting (AGM).

The buyback program aims to enhance shareholder value by reducing the number of outstanding shares, thus potentially increasing the value of remaining shares. The Ordinary Shares purchased will be held in treasury.

The program is set to begin immediately and will continue until the next AGM or until the £20 million limit is reached, whichever comes first. The decision reflects the Board's confidence in the company's financial health and its commitment to returning value to shareholders.