Industrial Multi Property Trust PLC Portfolio Update (7461D)

TIDMIMPT

RNS Number : 7461D

Industrial Multi Property Trust PLC

11 July 2016

11 July 2016

INDUSTRIAL MULTI PROPERTY TRUST PLC

(the "Company" or together with its subsidiaries the "Group")

Industrial Multi Property Trust plc is today announcing that the Group's property portfolio was valued at 30 June 2016 by Cushman & Wakefield (formerly DTZ Debenham Tie Leung Limited) at GBP85.1 million. The previous valuation of the property portfolio was GBP82.1 million as at 31 March 2016.

The valuation was undertaken in accordance with the Royal Institution of Chartered Surveyors (RICS) Appraisal and Valuation Standards and shows the "Market Value" assuming an asset sale of each property. The valuation report also contains the following comment in relation to the result of the recent Referendum to decide whether the UK should leave or remain in the European Union:

"Valuation Certainty following the EU Referendum. Following the Referendum held on 23 June 2016 concerning the UK's membership of the EU, a decision was taken to exit. We are now in a period of uncertainty in relation to many factors that impact the property investment and letting markets. Since the Referendum date it has not been possible to gauge the effect of this decision by reference to transactions in the market place. The probability of our opinion of value exactly coinciding with the price achieved, were there to be a sale, has reduced. We would, therefore, recommend that the valuation is kept under regular review and that specific market advice is obtained should you wish to effect a disposal."

The Group's property portfolio will next be valued as at 30 September 2016.

This announcement is not a preliminary statement of the Company's financial results and the financial information contained herein is not audited and is subject to change. The Company expects to publish its half yearly report for the six months ended 30 June 2016 by 26 August 2016.

This announcement contains inside information.

Contact:

Jonathan Clague

Chairman, Industrial Multi Property Trust Plc

[phone]

Tom Pissarro

Fund Manager, Alpha Real Capital LLP

[phone]

Alastair Moreton

Financial Adviser and Broker, Stockdale Securities Ltd

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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July 11, 2016 02:00 ET (06:00 GMT)