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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alpha Real Trust Limited | LSE:ARTL | London | Ordinary Share | GB00B13VDP26 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 140.00 | 135.00 | 145.00 | 140.00 | 140.00 | 140.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 6.65M | 631k | 0.0107 | 130.84 | 82.48M |
TIDMARTL
RNS Number : 6550W
Alpha Real Trust Limited
13 February 2017
13 February 2017
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")
Logix Group ("Logix") challenge to the Arbitration Award dismissed by the Delhi High Court
As announced on 29 January 2015, the International Chamber of Commerce (ICC) Arbitration declared an award in favour of the Company with respect to its Galaxia investment, a joint venture with the Logix Group ("Logix") located in an 11.2 acre Special Economic Zone, in NOIDA, the National Capital Region, India. The total award amounted to GBP9.2 million based on exchange rates at the time. Additionally, a further 15% p.a interest on all sums was awarded to the Company from 20 January 2015 until the actual date of payment by Logix of the award. The sum has now accrued to GBP13.4m at the current exchange rate.
Following a challenge of the award by Logix, the Company announces that on 9 February 2017 the Delhi High Court upheld the award and dismissed the Logix petition with costs.
Logix has 30 days to appeal the dismissal before a Division Bench of the same court.
Further updates will be provided in due course.
For further information please contact:
Alpha Real Trust Limited
David Jeffreys, Chairman, Alpha Real Trust +44 (0) 1481 231 100 Brad Bauman, Joint Fund Manager, Alpha Real Trust +44 (0) 20 7391 4700
Panmure Gordon, Broker to the Company
Richard Gray / Andrew Potts +44 (0) 20 7886 2500
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDLLFEEFTIILID
(END) Dow Jones Newswires
February 13, 2017 02:00 ET (07:00 GMT)
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