REG - Alpha Real Tst Ltd - Share Buyback

Alpha Real TrustAnnouncement

21/01/2025 14:45

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RNS Number : 1656U  Alpha Real Trust Limited  21 January 2025

21 January 2025

LEI: 213800BMY95CP6CYXK69

 

This announcement contains inside information for the purposes of the Article
7 of the Market Abuse Regulation (EU) 596/2014 (including as it forms part of
the laws of the United Kingdom by virtue of the European Union (Withdrawal)
Act 2018, as amended from time to time). Upon the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

 

ALPHA REAL TRUST LIMITED ("ART" OR THE "COMPANY")

 

Share Buyback

 

 

ART announces that it has entered into an agreement with Panmure Liberum
Limited ("Panmure Liberum") to act as its broker to undertake market
purchases of its Ordinary Shares (the "Buyback").

As previously announced, following the tender offer ("Tender Offer") set out
in the circular published by the Company on 6 December 2024, which closed at
3.00 p.m. on 17 January 2025, ART will proceed with cancellation of trading of
its ordinary shares of no par value ("Shares") on the Specialist Fund Segment
of the Main Market of the London Stock Exchange ("Cancellation"). It is
anticipated that the last day of dealings in the Shares will be 22 January
2025 and that Cancellation will take place at 7.00 a.m. on 23 January 2025.

In order to provide Shareholders who do not wish to remain as Shareholders
after Cancellation with a further opportunity to realise their investment in
the Company, the Board has approved the Buyback to repurchase Shares at a
purchase price per Share of 202.5 pence, equal to 105% of the average middle
market closing price of a Share on the London Stock Exchange for the five
business days preceding the date of purchase.

The Buyback will be conducted under the authority granted at the Company's
annual general meeting held on 5 September 2024, permitting the repurchase of
up to 4,076,191 of its Shares (the total outstanding shareholder authority
following completion of the Tender Offer). The Buyback will commence today and
end at close of business on 22 January 2025.

The Buyback will be conducted in compliance with certain pre-set price
parameters including those prescribed by the Market Abuse Regulation 596/2014,
which forms part of Retained EU law (as defined in the UK's European Union
(Withdrawal) Act 2018) and the Market Abuse (Amendment) (EU Exit) Regulations
2019). The Shares repurchased will be cancelled.

The Company confirms that it currently has no unpublished price sensitive
information.

 

 

 

For further information please contact:

 

 Alpha Real Trust Limited

 William Simpson, Chairman, Alpha Real Trust        +44 (0) 1481 231 100

 Brad Bauman, Joint Fund Manager, Alpha Real Trust  +44 (0) 20 7391 4700

 Panmure Liberum, Broker to the Company

 Atholl Tweedie                                     +44 (0) 20 7886 2500

 

 

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