Alpha Real Regulatory News (ARTL)

31 Jan 2007 12:09

Alpha Tiger Property Trust Limited31 January 2007 Alpha Tiger Property Trust Limited ('Alpha Tiger' or the 'Company') Year End Trading Update Since the Company's admission to trading on AIM on 21 December 2006, theCompany's investment manager, Alpha Real Capital LLP (the 'Investment Manager'),has continued to build and develop local partnerships in India and has furtherprogressed discussions and contractual terms with a multinational outsourcingand technology company, relating to the proposed sale and leaseback of thatcompany's existing real estate in India and the supply and development of realestate to meet its current and future occupancy needs. There is currently anon-legally binding memorandum of understanding between the Investment Managerand this company. This opportunity potentially gives Alpha Tiger ownership ofover 375,000 sq. ft. of existing office space across three cities and alsooffers the potential to develop an additional 3.8 million sq. ft. of newbusiness park space on sites totalling over 40 acres which have existing zoningand planning approval for IT/ITES (Information Technology / InformationTechnology Enabled Services). At the time of the Company's admission, the Investment Manager was alsoevaluating additional investment opportunities, with potential Indian partnersand third parties, which could involve the investment in up to 3.3 million sq.ft. of real estate. The Investment Manager is advancing these opportunities andthe Company will announce further progress in due course. Alpha Tiger, when fully invested, has the capacity to own approximately 3.5million sq. ft. of real estate. The Investment Manager anticipates that thefunds raised at admission, together with appropriate debt financing, will befully committed by the end of 2007. The Company and the Investment Manager are also pleased to announce the appointment of Kim Odhner as Chief Operating Officer to the Indian subsidiary of the Investment Manager, based in Bangalore. Kim brings 12 years of real estate, equity investment and operations experiencein Asia. His industry exposure includes commercial real estate andinfrastructure development, IT and telecoms, logistics and specialtyconstruction engineering. Kim has been involved with project structuring anddevelopment, fund raising and placement, as well as management of in-countrystart-ups, direct investment projects, joint ventures with state-ownedenterprises and M&A within the region. Kim's most recent role was General Director of a joint venture fund managementand investment firm in Vietnam. He has also served as Commercial Director, AsiaPacific for Regus.The Company's annual report and consolidated accounts will be prepared up to 30 June in each year and copies of the report and accounts will be sent to Shareholders within the following six months. The first such annual report will cover the period from incorporation, in May 2006, to 30 June 2007 and will be dispatched to Shareholders no later than 30 September 2007. An unaudited interim report will also be dispatched to shareholders for the six month period to 31 December each year. The first interim report shall cover the six months to 31 December 2007. For further information please contact:Phillip Rose, CEO, Alpha Real Capital LLP +44 (0)20 7591 1609Brad Bauman, Fund Manager for Alpha Tiger +44 (0)20 7591 1615 (UK) +91 9980 00 11 22 (India) Notes ABOUT ALPHA REAL CAPITAL LLP ('Alpha Real Capital' or the 'Investment Manager') Alpha Real Capital is a value-adding international property fund managementgroup. Alpha Real Capital was established by Phillip Rose and Sir John Beckwithand is active in global real estate markets, principally northern Europeincluding, France, Germany and Spain and Asia focussing on India. Phillip Rose has 25 years' experience in the real estate, fund management andbanking industries in Europe, the USA and Australasia. He has been Head of RealEstate for ABN AMRO Bank, Chief Operating Officer of European shopping centreinvestor and developer TrizecHahn Europe (where he was responsible for a €1billion European investment and development programme from 1999-2000), ManagingDirector of Lend Lease Global Investment where, during his tenure from 1994 to1999, he was responsible for managing European property investments andExecutive Manager of listed fund General Property Trust. He is currently anon-executive director of Great Portland Estates and a member of the ManagementCommittee of the Hermes Property Unit Trust. Sir John Beckwith has been involved in property investment and other investmentfor his entire working life. He founded London & Edinburgh Trust PLC ("LET") in1971 where he was Chairman and Chief Executive Officer and developed it into oneof the top ten listed real estate companies in the UK. Following the sale ofLET, he established Pacific Investments through which he founded a number ofsuccessful asset management businesses, including Liontrust Asset Management andThames River Capital. Alpha Real Capital is the Investment Manager to Alpha Tiger. Alpha RealCapital's Indian Funds Director, Brad Bauman, is Fund Manager to Alpha Tiger andis based in Bangalore. Brad Bauman has 18 years' experience in the real estateand finance industries, and has been responsible for the Investment Manager'sAsian investment programme since 2005. His experience includes seven years withCB Richard Ellis where he was Managing Director of CBRE Financial Services, andfrom 1994 to 1997 was involved in acquiring and managing distressed debtportfolios. Prior to joining Alpha Real Capital, Brad was Executive Director,Real Estate Investment Banking at Lehman Brothers. Brad has day to day fundmanagement responsibility for Alpha Tiger. Further information is available at www.alpharealcapital.com ABOUT ALPHA TIGER Alpha Tiger is a Guernsey registered closed-ended investment company,established for the purposes of investing in and developing real estate inIndia. Investment Strategy The strategy of the Company is to target investment and developmentopportunities in real estate in India that will offer high total returns. AlphaReal Capital believes that there will be capital growth opportunities in theportfolio through income growth, active asset management and yield compression. Directors The Directors of the Company, all of whom are non-executive, are responsible forthe determination and implementation of the investment policy of the Company andthe overall supervision of the Group's activities. The Board consists of: David Jeffreys (Chairman) Jeff Chowdhry Phillip Rose Roddy Sage Serena Tremlett David Jeffreys is currently a director of Alpha Pyrenees Trust Limited,Ingenious Media Acquisition Capital Limited, Tetragon Credit Income Fund Limitedand a number of Private Equity Funds. Between 1993 and 2004 he worked withAbacus Financial Services Group Limited and was a board member of Abacus'principal administration operating companies and Managing Director of AbacusFund Managers (Guernsey) Limited. He spent twelve years at Coopers & Lybrand,Chartered Accountants, from 1981 to 1993. This information is provided by RNS The company news service from the London Stock Exchange