Alpha Growth (ALGW) , a financial services specialist focused in Senior Life Settlement assets, has acquired Colva Insurance Group Corp.
The companies have signed an agreement for Alpha Growth’s acquisition of the entire ordinary share capital of Colva, for a total consideration of £77,727.
Colva Insurance Group Corp is a specialist actuarial service provider to the SLS industry and has several key US based clients.
The acquisition of Colva’s entire share capital was settled through the issue of “3,985,985 new ordinary shares of 0.1 pence each in the Company at an issue price of 1.95p per share.”
Alpha Growth has states that the shares will be issued and admitted for trading on the “one year anniversary of the acquisition,” subject to Colva’s founder and former major shareholder Rajiv Rebello remaining “commercially engaged” with Alpha on the issue date.
Chairman of Alpha Growth Gobind Sahney commented, “The acquisition of Colva includes the addition of Rajiv who will become our Chief Actuary and Director of Investment Analytics.
Rajiv is a terrific addition to the team and expands our in-house abilities to provide clients with superior advise and guidance on longevity assets. We welcome Rajiv and the clients that Colva works with to the Alpha team."
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