Alpha Growth plc (LSE:ALGW) signed a binding share purchase agreement to acquire 93.36% stake Jeometri Insurance Managers (Guernsey) Limited from Darren Wadley for £0.449.321 million on May 17, 2024. Darren Wadley will be continuing as Managing Director of Jeometri and leading the business in its next phase of growth. The consideration payable for the acquisition of Jeometri is £449,321 in cash inclusive of the costs of the share acquisition and an infusion of working capital into the business.

The transaction funding has been satisfied from Alpha's existing cash resources and no shares were issued by Alpha for the acquisition. The acquisition of Jeometri is subject to regulatory approval by the Guernsey Financial Services Commission. Subject to this approval, Alpha expects to complete the acquisition within the third quarter of 2024 and will make a further announcement in due course once completed.

Amrit Nahal, Nick Athanas and Piers Shimwell from Allenby Capital Limited act as financial advisor for Alpha Growth plc.