Alpha Real Trust Limited Notice of EGM (2578N)
19 May 2020 - 1:50AM
UK Regulatory
TIDMARTL
RNS Number : 2578N
Alpha Real Trust Limited
18 May 2020
LEI: 213800BMY95CP6CYXK69
18 May 2020
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE
"COMPANY")
NOTICE OF EXTRAORDINARY GENERAL MEETING OF THE COMPANY
The Board of Alpha Real Trust Limited ("ARTL" or the "Company")
announces today that it is seeking a general authority from
shareholders to buy back Ordinary Shares, such authority being in
respect of up to 14.99 per cent. of the Voting Share Capital of the
Company.
A circular in which full details of the proposed Share Purchase
Authority is set out (the "Circular"), together with a notice (the
"Notice") of an Extraordinary General Meeting to be held on 9 June
2020 at 11.00 a.m. (the "Meeting"), have today been published on
the Company's website at
http://www.alpharealtrustlimited.com/investor-relations/shareholder-documents.html
.
In order to continue to provide liquidity to shareholders, the
Company wishes to have the ability to make on-market purchases of
Ordinary Shares representing up to 14.99 per cent. of its voting
share capital (being up to 8,979,021 Ordinary Shares as at 15 May
2020, the latest practicable date prior to the publication of the
Notice) either by way of a share buyback or pursuant to any tender
offer effected by (or on behalf of) the Company.
The board of the Company (the "Board") is closely monitoring the
impact of COVID-19 (the coronavirus). It is currently the intention
to hold the Meeting as planned. However, the Board notes the
guidance issued by The States of Guernsey restricting social
gatherings in view of the COVID-19 pandemic (the "COVID-19
Guidance"), and the fact that if the current COVID-19 Guidance
remains in place on the date of the Meeting, shareholders will be
prohibited from attending the Meeting in person. Given the current
COVID-19 Guidance and the general uncertainty on what additional
and/or alternative measures may be put in place, the Board requests
that shareholders do not attempt to attend the Meeting in person,
and instead they are strongly encouraged to appoint the "Chairman
of the Meeting" as their proxy and provide voting instructions in
advance of the Meeting, in accordance with the instructions
explained in the Notice and on the accompanying form of proxy.
If the Board believes it has become necessary or appropriate to
make alternative arrangements for the holding of the Meeting due to
COVID-19, we will ensure that shareholders are given as much notice
as possible. Any further information will be made available through
an announcement to the London Stock Exchange and through the
Company's website: www.alpharealtrustlimited.com.
Business at the Meeting
In order to continue to provide liquidity to Ordinary
Shareholders the Company is seeking the shareholders' approval by
way of an ordinary resolution to make on-market purchases of
Ordinary Shares either by way of a share buyback or pursuant to any
tender offer effected by (or on behalf of) the Company ("the Share
Purchase Authority").
The Board intends to seek a renewal of such authority at
subsequent general meetings of the Company.
The Board notes that the aggregate shareholding of ARC and the
ARC Concert Parties in the Company as at the Latest Practicable
Date was 45,390,219 Ordinary Shares, being 75.87 per cent. of the
voting share capital of the Company; and that, were the Share
Purchase Authority to be exercised in full, the aggregate
shareholding of ARC and the ARC Concert Parties in the Company
would be 89.25 per cent.
Capitalised terms and expressions used in this announcement
shall have the same meanings as those attributed to them in the
Circular.
Full details of the proposals are set out in the Circular
published on the Company's website at
http://www.alpharealtrustlimited.com/investor-relations/shareholder-documents.html.
A copy of the Circular has been submitted to the National Storage
Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
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
Further information on the Company can be found on the Company's
website: www.alpharealtrustlimited.com .
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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