LONDON, UK: Alpha Growth Plc (LSE: ALGW and OTCQB: ALPGF), a financial services specialist in longevity assets and insurance linked asset management, has announced that it has acquired the remaining 5% minority shareholding in Northstar Group (Bermuda) Limited (“Northstar”), its Bermuda based insurance holding company, for a total consideration of £330,102.

The company said it has settled the consideration by issuing 12,696,231 new ordinary shares at a price of 2.6p per share to the minority shareholder, Daniel Gray, who is also a board member of two of Alpha Growth’s life insurance subsidiaries. As a result, Northstar is now a wholly owned group company.

Alpha Growth also said it has issued 3,265,306 new ordinary shares to Jason Sutherland, its executive director, in lieu of £80,000 in director’s fees owed to him.

The company has applied for the admission of the new shares to trading on the London Stock Exchange, which is expected to take place on 16 May 2023.

Gobind Sahney, executive chairman of Alpha Growth, commented: “I am very pleased that we were able to complete the 100% ownership of Northstar and that we get the continued alignment of interest with Dan, who continues to be a valued advisor to the group in the growth of its life insurance business, now as a direct shareholder in Alpha.”

Alpha Growth is a leading provider of advisory services in longevity assets to institutional and family office investors seeking uncorrelated returns within efficient investment structures. The company has over $700 million of assets under management and aims to reach over $2 billion by 2025. The company is listed in the UK and has offices in London, Bermuda and California.

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