Alpha Real Trust Limited Purchase of Shares in Alpha UK Property Fund Asset (9957M)
19 September 2019 - 10:01PM
UK Regulatory
TIDMARTL
RNS Number : 9957M
Alpha Real Trust Limited
19 September 2019
19 September 2019
LEI: 213800BMY95CP6CYXK69
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE
"COMPANY")
Purchase of Shares in Alpha UK Property Fund Asset Company (No
2) Limited
Total Voting Rights
The Board of Alpha Real Trust (the "Board") today announces that
the Company has purchased 66.4% of the shares in Alpha UK Property
Fund Asset Company (No 2) Limited ("AUPF2"), the consideration for
which will be satisfied by the re-issue from treasury of 5,030,284
ordinary shares in ART at an issue price equivalent to ART's
estimated adjusted net asset value, as set out below. ART now owns
100% of AUPF2.
The shares in AUPF2 were purchased from Antler Investment
Holdings Limited, a related party to the Company. The shares in
AUPF2 were purchased at its adjusted net asset value with its
portfolio independently valued as at 31 August 2019.
The AUPF2 portfolio consists of 2 unlevered industrial assets
located in England and the adjusted net asset value of AUPF2 (based
on 100% shareholding) is GBP16.0m. The transaction value is
GBP10.6m.
The 5,030,284 ART shares were re-issued from treasury at a price
of 211.4p per share. The price is based upon the Company's recently
published net asset value as at 30 June 2019 with adjustments made
for dividends paid and share buybacks completed (including the
Company's recent tender offer) following this date.
An application will be made to the London Stock Exchange for
these 5,030,284 ordinary shares to be admitted to trading on the
Specialist Fund Segment of the London Stock Exchange's Main Market.
It is expected that admission will occur on 25 September 2019.
Following the re-issue of these shares, the ordinary share
capital of the Company will be 61,165,783 (including 1,940,797
ordinary shares held in treasury) and the total voting rights in
the Company will be 59,224,986 with effect from 25 September 2019.
The figure of 59,224,986 may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, ART under the FCA's Disclosure and Transparency
Rules.
For further information please contact:
Alpha Real Trust Limited
David Jeffreys, Chairman, Alpha Real Trust +44 (0) 1481 742 742
Brad Bauman, Joint Fund Manager, Alpha Real Trust +44 (0) 20 7391 4700
Panmure Gordon, Broker to the Company
Atholl Tweedie +44 (0) 20 7886 2500
Alpha Real Trust Limited is advised by Alpha Real Capital LLP,
which is authorised and regulated by the Financial Conduct
Authority in the United Kingdom.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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