Alpha Real Trust Limited Acquisition of Shares of AURE (6885Z)
September 21 2015 - 8:39AM
UK Regulatory
TIDMARTL
RNS Number : 6885Z
Alpha Real Trust Limited
21 September 2015
21 September 2015
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")
ACQUISITION OF SHARES OF ACTIVE UK REAL ESTATE FUND LIMITED
("AURE")
Alpha Real Trust announces that it has purchased 11,320,801
shares of AURE, representing 20.5% of the share capital and voting
rights. The consideration paid for the shares was GBP3.2 million,
representing a price of circa GBP0.28 per share. Alpha Real Trust
held no AURE shares prior to this purchase.
The Net Asset Value per share for AURE as at 31 August 2015 was
GBP0.33821 per share. The Net Asset Value per share is published on
the Channel Islands Securities Exchange (www.cisx.com).
Alpha Real Capital LLP, the Investment Manager of Alpha Real
Trust, is also the Promoter, Investment Manager and Distributor of
AURE.
Alpha Real Trust provides mezzanine finance to AURE, and the
balance as at 31 August 2015 is GBP9.6 million, inclusive of rolled
up interest.
Based upon the value of the underlying AURE portfolio of GBP46.4
million as at 30 June 2015, the senior lender's loan to value ratio
is 42.2% and ART's mezzanine finance position sits between 42.2%
and 62.9% loan to value.
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
AURE is a closed-ended investment company, established as a
listed fund in accordance with the terms of the Collective
Investment Funds (Jersey) Law 1988, as amended (the "CIF Law"), and
the Listed Fund Guide published by the Jersey Financial Services
Commission. Further information can be found on AURE's website:
www.activeukrealestatefund.com
Further information on the Company can be found on the Company's
website: www.alpharealtrustlimited.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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