IMPT Debt Redemption

RNS Number : 1787B

Alpha Real Trust Limited

31 March 2017

 

31 March 2017

ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")

Alpha Real Trust wishes to announce that it has yesterday received from Industrial Multi Property Trust plc ("IMPT") a notice of intention to redeem all of the outstanding unsecured subordinated debt provided by Alpha Real Trust to IMPT. The value of the unsecured subordinated debt as of 31 December 2016 was £10.3 million, and the redemption notice is for a total amount of £10.9 million, which includes outstanding interest of £0.3 million and an exit fee of £0.2 million.

Alpha Real Trust notes the update on loan facilities released by IMPT earlier today and Alpha Real Trust requests that IMPT provides independent evidence that the terms of the Hansteen Loan Facility are on an 'arm's length' basis as this facility is provided by a related party.

Alpha Real Trust also awaits an opportunity for shareholders to consider the notice of extraordinary general meeting that Alpha Real Trust requested on 21 March 2017.

For further information please contact:

Alpha Real Trust Limited

David Jeffreys, Chairman, Alpha Real Trust                         [phone]

Brad Bauman, Joint Fund Manager, Alpha Real Trust       [phone]

Panmure Gordon, Broker to the Company

Richard Gray / Andrew Potts                                                      [phone]

 

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