REG-Alina Holdings PLC Alina Holdings PLC: Trading Statement

Alina HoldingsAnnouncement

02/03/2022 07:15

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   Alina Holdings PLC (ALNA)
   Alina Holdings PLC: Trading Statement

   02-March-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                               Alina Holdings PLC

                     (Reuters: ALNA.L, Bloomberg: ALNA:LN)

                       ("Alina", "ALNA" or the "Company")

                                 Trading Update

   Duncan Soukup,  Chairman,  on  behalf  of  the  Board  of  Directors  (the
   "Board"), I am  pleased not to  mention, relieved, to  present the  market
   with the following positive Trading Update:

   "Our continued  hedging  efforts  have resulted  in  significant  positive
   contribution during the  recent and on-going  market correction caused  by
   Covid-19, potential, and in some cases actual Central Bank tightening and,
   by the invasion of Ukraine by Russia's "Peace Keeping Forces.""

   "The Company's Board is unanimous in its view that the current  correction
   has further  to  run, and  that  the possibility  exists  for  substantial
   economic slowdown in  the coming  months as higher  commodity prices  feed
   into higher consumer  prices. Our fear  is that Europe  and the USA  could
   experience a  damaging  bout  of  Stagflation  (Sluggish  economic  growth
   coupled with  a  high  rate of  inflation  and  increasing  unemployment),
   resulting in  recession. A  proxy for  this  view can  be seen  in  recent
   results of  TJ Maxx  (TJX US)  a  retail bellwether  which missed  its  Q4
   numbers due to supply-chain problems and rising personnel costs, resulting
   in sales and margins, which fell short of market expectations."

   "I would like to emphasise that the Company's hedge positions are unlikely
   to fully protect against a complete collapse in global stock markets; they
   should, however,  give a  good degree  of protection  against a  continued
   decline in  stock  prices, particularly  in  overvalued Tech.  Shares  and
   investor 'fear'.

    

   Property Portfolio

   The board is pleased to announce  the completion of sale of the  Westcliff
   property, which was agreed under the previous board in 2019 and has  taken
   until now to finalise.

   The Board has concluded that it  will be maintaining the valuation of  the
   property portfolio at previous  levels. The Board is  also of the  opinion
   that the  carrying values,  based  on the  "Red  Book" valuation,  do  not
   reflect the  real  value of  the  properties.  To wit,  the  valuers  have
   marked-down the value of  the Company's Hastings property  by 50%, as  the
   largest tenant has vacated it, (and  ca. 400 other properties in the  UK).
   In the Board's opinion,  the former tenant was  not paying current  market
   prices, and once the property has been refurbished, the ca 5,500 ft.  sq.,
   should rent  for more  than the  former tenant  was paying.  The  property
   (Castle Court) is  located at  the junction  of Denmark  Place and  Castle
   Street, Hastings TN34 3DX.

   During the pandemic the company  was able to achieve substantially  better
   than market  collections having  assisted,  where possible,  tenants  with
   government grants. We are pleased to  report that we were able to  collect
   better than 92% of recoverable rent.

   The Company's objective  is still  to liquidate the  current portfolio  of
   shopping assets which currently  show a Gross Initial  Yield of more  than
   16%, but only if  a sale can  achieve a sensible return  in excess of  the
   year end 2021 carrying value of £2.45m. 

   "I look forward to expanding on these comments and quantifying the  impact
   of current market  volatility on  our holdings in  our forthcoming  Annual
   Report for 2021 and Interims Results for 2022".             

   This announcement contains inside information for the purposes of Retained
   Regulation (EU) 596/2014 (UK Market Abuse Regulation).

                                      END

   Investor Enquiries:      
   Alina Holdings PLC       
   Duncan Soukup, Chairman +33 (0)6 78 63 26 89

    1 www.alina-holdings.com

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   ISIN:           GB00B1VS7G47
   Category Code:  TST
   TIDM:           ALNA
   LEI Code:       213800SOAIB9JVCV4D57
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   146172
   EQS News ID:    1291747


    
   End of Announcement EQS News Service

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