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7 Apr 2017 11:36
7 April 2017
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST", "THE COMPANY")
Alpha Real Trust is pleased to announce that The Romulus High Income Trust ("Romulus") has completed the disposal of its all of its real estate assets. The completion of the sale results in Romulus having positive net assets and consequently Alpha Real Trust expects to receive proceeds from Romulus.
The Company intends to pay a special dividend to holders of Alpha Real Trust A Shares when these net funds are available to the Company from Romulus for distribution. Alpha Real Trust A Shareholders will be informed of the amount and timing of the special dividend when the net proceeds are confirmed.
Romulus was part of the Property Investment Portfolio Plc ("PIP") portfolio that was acquired by Alpha Real Trust in 2012. Alpha Real Trust ascribed zero value to Romulus with any realised value from Romulus being passed to former holders of PIP by way of the Alpha Real Trust A Share.
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 Alpha Real Trust
Richard Gray / Andrew Potts +44 (0) 20 7886 2500
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