Last checked at 12 Dec 2008 11:46
To: Company Announcements
Date: 12 December 2008
Company: F&C Commercial Property Trust Limited
Subject: Disposal
The Company announces that it has realised an aggregate of £39.0 million through disposals of units in the Industrial Property Investment Fund. This represents a discount of 3.4 per cent to the Directors' valuation of the units as at 30 September 2008.
Following the disposals, the Company's investments in the two indirect holdings (the Industrial Property Investment Fund and The Mall Fund) amount to approximately one per cent of its total assets less current liabilities ("Total Assets"), based on the valuations contained in the Company's net asset value as at 30 September 2008. Based on the same valuations, the level of cash balances has risen to approximately twenty per cent of Total Assets and the level of gearing net of cash has fallen to approximately five per cent of Total Assets.
All Enquiries:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter PortGuernseyGY1 3QL
Tel: 01481 745338
Fax: 01481 745085