1 st February 2008 – Alpha Prospects Plc
Early Equity has taken a 15.2% stake in Alpha Prospects Plc
Birmingham based Early Equity Plc, the PLUS Markets listed investment company, has taken a 15.18% investment in Alpha Prospects Plc. Alpha Prospects was set up to acquire and invest in companies in the independent travel sector concentrating on the growing consolidation in the independent holiday market, and commenced trading on Friday 18th January 2008. Alpha Prospects, for which Early Equity plc and Addworth plc were instrumental in providing fundraising and support, raised £731,910 ahead of listing. Trading began at a price of 3p per share giving a market capitalisation of £2.47m. Alpha Prospects intends to develop the business via selective acquisitions and subsequent organic growth in order to create sustainable capital value for shareholders.
Alpha Prospect's Board comprises Chairman Steven Freudmann, the current chairman of the Institute of Travel and Tourism and, a director of and former President of the Association of British Travel Agents (ABTA), with more than 30 years experience in the travel industry, who is looking forward to being able to put his experience in the travel sector to good use for the benefit of Alpha. The other directors are Chief Executive, Christopher Foster, who has a wealth of corporate and M&A experience, and Non Executive Director, Rob Painting, a director of GSH Group plc, Addworth plc and Early Equity plc.
Whilst Alpha Prospects currently has no activity or business interests, the Directors have identified several potential investments that they consider worthy of further investigation. Chief Executive Christopher Foster explained:<.p>
"A number of companies are in our sight, and due diligence will be commencing shortly. We hope to be in a position to make an announcement in the near future. We believe there are opportunities to act as a consolidator in the independent travel sector."
Early Equity Chief Executive Rob Painting said .
""We are delighted to have facilitated the establishment and funding of Alpha Prospects Plc. It has a high calibre, experienced management team focused on delivering a clearly defined strategy."
"We firmly believe there are significant opportunities and growth potential available through the independent travel sector in the UK. Independent travellers are spurring growth in the tourism market as the number of people booking holidays over the internet has risen enormously, with operators offer more sophisticated booking facilities. This, Early Equity's second investment since listing on Plus Markets, demonstrates not only our ability to recognise opportunities, but also to establish, fund and deliver investments which will unlock potential and create capital gain for our shareholders."