Henderson Alternative Strat Tst PLC Update on realisation of assets (6907B)

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: [phone]                      Telephone: [phone] 
 Alex Barr                                     Mark Bloomfield 
  Senior Portfolio Manager                      Corporate Broker: Stifel Nicolaus 
  Telephone: [phone]                      Europe Ltd 
                                                Telephone: [phone] 
         Laura Thomas 
          PR Manager 
          Henderson Investment Funds Limited 
          Telephone: [phone] 
 

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October 09, 2020 10:59 ET (14:59 GMT)