Henderson Alternative Strat Tst PLC Update on realisation of assets (6907B)
10 October 2020 - 1:59AM
UK Regulatory
TIDMHAST
RNS Number : 6907B
Henderson Alternative Strat Tst PLC
09 October 2020
HENDERSON INVESTMENT FUNDS LIMITED
HENDERSON ALTERNATIVE STRATEGIES TRUST PLC
LEGAL ENTITY IDENTIFIER: 213800J6LLOCA3CUDF69
9 October 2020
HENDERSON ALTERNATIVE STRATEGIES TRUST PLC (the "Company" or
"HAST")
Update on realisation of assets
The investment manager has continued the realisation of the
Company's more liquid investments. The Company is pleased to
announce that cash now forms c.74% of the portfolio as at 9 October
2020. This figure includes trades expected to settle imminently,
with a value of c.8% of NAV. The investment manager expects that
the Company's cash level will rise to c.79% by mid-November
2020.
As previously announced, the Board has been giving consideration
as to how best to make a return of cash to shareholders. Given the
high percentage of cash in the portfolio, the Company currently
intends to put forward proposals for the liquidation of the
Company, and for the distribution of this cash shortly after the
appointment of the liquidators, with further payments following as
the remaining investments are sold. The investment manager would be
engaged to assist the liquidators in the process of realisation of
assets remaining unsold at the time of their appointment.
The Company intends to publish a circular seeking the necessary
shareholder approval for the liquidation, in which it will set out
the benefits and costs of the proposal, the timetable and an update
on the disposal of the remaining portfolio.
A further announcement will be made in due course.
For further information please contact:
Richard Gubbins James de Sausmarez
Chairman: Henderson Alternative Director and Head of Investment
Strategies Trust plc Trusts
Telephone: 020 7818 2025 Telephone: 020 7818 3349
Alex Barr Mark Bloomfield
Senior Portfolio Manager Corporate Broker: Stifel Nicolaus
Telephone: 020 7818 2824 Europe Ltd
Telephone: 020 7710 7600
Laura Thomas
PR Manager
Henderson Investment Funds Limited
Telephone: 020 7818 2636
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END
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