We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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% | 122.50 | 115.00 | 130.00 | 122.50 | 122.50 | 122.50 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 6.65M | 631k | 0.0107 | 114.49 | 72.17M |
TIDMARTL TIDMIMPT TIDMHSTN
RNS Number : 2450X
Alpha Real Trust Limited
20 February 2017
20 February 2017
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")
Alpha Real Trust notes the announcement by Hansteen Holdings PLC ("Hansteen") on 17 February 2017 of an all cash offer for the entire issued ordinary share capital of Industrial Multi Property Trust PLC ("IMPT") by Hansteen at 300 pence per share (the "Offer").
Alpha Real Trust holds 18.7% of the share capital of IMPT, and also holds GBP10.3 million of unsecured subordinated debt (value as of 30 September 2016).
The directors of Alpha Real Trust wish to inform shareholders that they have not been consulted regarding the Offer and believe it substantially undervalues IMPT.
Alpha Real Trust notes that IMPT has not provided shareholders with an updated NAV since 30 September 2016 and believe that industrial property values may have risen significantly over this period.
The offer fails to reflect the significant stamp duty land tax saving (estimated at up to GBP2 million by Jones Lang LaSalle Limited ("JLL")) and portfolio premium benefits that were advised to IMPT by JLL in their letter of December 2016.
The Board of IMPT has a duty to maximise value for shareholders and the directors of Alpha Real Trust believe the Offer fails to achieve this.
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
SPCEAKANFSXXEFF
(END) Dow Jones Newswires
February 20, 2017 02:00 ET (07:00 GMT)
1 Year Alpha Real Chart |
1 Month Alpha Real Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions