Industrial Multi Property Trust PLC Statement re Offer by Hansteen and ART EGM request (3266A)
23 March 2017 - 10:26PM
UK Regulatory
TIDMIMPT
RNS Number : 3266A
Industrial Multi Property Trust PLC
23 March 2017
Industrial Multi Property Trust plc (the "Company")
The Independent Directors of the Company note that the offer of
300 pence per ordinary share for the entire issued ordinary share
capital of the Company (the "Offer") by Hansteen Holdings plc
("Hansteen") has been declared wholly unconditional.
The Independent Directors note that, in accordance with Rule
31.4 of the Code, the Offer will remain open for acceptance by
shareholders for at least a further 14 days. Hansteen has
previously stated its intention to procure the cancellation of
trading in the Company's shares on the Specialist Fund Segment of
the London Stock Exchange's Main Market as soon as it is
appropriate and possible to do so once the Offer has been declared
unconditional in all respects. Accordingly, unless shareholders who
have not yet accepted the Offer wish to retain their holdings in
what is expected to be an unlisted investment fund with reduced
liquidity and marketability, they should consider accepting the
Offer without delay.
The Independent Directors have been asked by Hansteen to remain
on the board of the Company for at least a short period while the
Offer is being settled. Hansteen have also requested that Derek
Heathwood and Sarah Jane Lindsay (UK Property Director and Head of
UK Asset Management respectively at Hansteen) be appointed to the
board of the Company. The Independent Directors consider that, in
the light of Hansteen's Offer having been declared wholly
unconditional, this is a reasonable request and will make these
appointments imminently. Further announcements concerning the board
of the Company are likely to be made in due course.
The Independent Directors also note the announcement from Alpha
Real Trust Limited detailing its request for an extraordinary
general meeting at which three resolutions will be proposed (the
"EGM"). The Independent Directors are considering this and a
further announcement will be made concerning the EGM in due
course.
For further information please contact:
Industrial Multi Property Trust plc
Philip Scales Tel: 01624 681250
Stockdale Securities Limited, Financial Adviser and Broker to
the Company
Robert Finlay Tel: 020 7601 6100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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