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Amendments to terms of TOG Convertible Loan

  Download PDF - 16th October 2014 at 11:01 GMT

("Alpha" or the "Company")

Amendments to terms of TOG Convertible Loan

Alpha Prospects Plc, the investment management company listed on the GXG Exchange and focussed on companies with fast growth and/or recovery prospects, announces that the amount of the Tasmania Oil and Gas Limited ("TOG") Convertible Unsecured Loan owned by Alpha Prospects Plc ("the TOG CUL") as at 13th October 2014 was £46,200, including interest.

TOG has agreed with the independent chairman of Alpha, Steven Freudmann, to:

  1. i. agree an extension of a year on the repayment date for 50% (£23,100) of the TOG CUL to 13th October 2015
  2. ii. increase the annual interest rate payable on the remaining TOG CUL, to 15% per annum from 14th October 2014
  3. iii. exchange the remaining £23,100 balance for TOG shares, at the agreed rate of 34.5p per share.

Alpha Prospects PLC
Christopher Foster
+44 20 7518 4300
+44 (0) 7525 688 741

Lothbury Financial Services
Michael Padley
+44 20 3440 7620

Editors' Note

About Alpha Prospects

The Company's strategy is to make investments in companies with fast growth and /or recovery prospects. Typically the companies in which Alpha Prospects will invest are in the small and micro-cap sector and the Company's interest in its investments is proactive. Currently Alpha has 10 investments.

The Directors are responsible for the contents of this announcement.