9 Oct 2020 15:59
HENDERSON INVESTMENT FUNDS LIMITED
HENDERSON ALTERNATIVE STRATEGIES TRUST PLC
LEGAL ENTITY IDENTIFIER: 213800J6LLOCA3CUDF69
9 October 2020
HENDERSON ALTERNATIVE STRATEGIES TRUST PLC (the ″Company″ or ″HAST″)
Update on realisation of assets
The investment manager has continued the realisation of the Company's more liquid investments. The Company is pleased to announce that cash now forms c.74% of the portfolio as at 9 October 2020. This figure includes trades expected to settle imminently, with a value of c.8% of NAV. The investment manager expects that the Company's cash level will rise to c.79% by mid-November 2020.
As previously announced, the Board has been giving consideration as to how best to make a return of cash to shareholders. Given the high percentage of cash in the portfolio, the Company currently intends to put forward proposals for the liquidation of the Company, and for the distribution of this cash shortly after the appointment of the liquidators, with further payments following as the remaining investments are sold. The investment manager would be engaged to assist the liquidators in the process of realisation of assets remaining unsold at the time of their appointment.
The Company intends to publish a circular seeking the necessary shareholder approval for the liquidation, in which it will set out the benefits and costs of the proposal, the timetable and an update on the disposal of the remaining portfolio.
A further announcement will be made in due course.
For further information please contact:
Richard Gubbins Chairman: Henderson Alternative Strategies Trust plc Telephone: 020 7818 2025
| James de Sausmarez Director and Head of Investment Trusts Telephone: 020 7818 3349
|
Alex Barr Senior Portfolio Manager Telephone: 020 7818 2824
| Mark Bloomfield Corporate Broker: Stifel Nicolaus Europe Ltd Telephone: 020 7710 7600
|
Laura Thomas PR Manager Henderson Investment Funds Limited Telephone: 020 7818 2636 |