Alpha FX Execs Selling Off Company Holdings

Alpha FX Execs Selling Off Company Holdings

Several important members of Alpha FX, including multiple board members and managers, are liquidating part of their holdings. Altogether, the assets made up about 9.6% of the total share capital of the firm.

The selloff’s timing was impeccable, as it came while Alpha FX’s publicly-listed stocks were on the rise. After a high in January, at 13.5 GBP per stock, prices plummeted in April as a result of changes caused by COVID-19. There was a global equity selloff at the time, so many companies saw a fall in their share value. Alpha FX’s value has been slowly recovering ever since, sitting at a comfortable 9.10 GBP per share at the time of the current selloff.

Participating in the selloff are multiple vital members of the company. Lisa Gordon, a board member, is selling 42112 shares, followed by Clive Kahn that shares the same position with 65000. Next is CFO Tim Kidd, who is dropping 120000 shares, and a co-founder of the company, Jonathan Currie with 904760. Trumping all of them, however, is another co-founder and CEO, Morgan Tillbrook, with 2714281 shares sold off.

The sale was made through the London Stock Exchange (LSE), and 3846153 shares were sold in total. That brings the amount of money to about 35 million GBP, considering the price of the shares at the sale time. Since the last closing, Alpha FX shares rose 32% and are at 9.38 GBP at the time of writing. Even after dropping a significant number of shares, the participants still hold 23.8 of the issued share capital of the company.

Tillbrook and Currie, the co-founders, have both stated that they will keep the remaining shares for at least three years. Like most other significant brokerages, Alpha FX has experienced a year-to-year growth in 2020 H1 revenue. In comparison to last year, the company is doing 16% better.

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