Alpha Real Net Asset Value Per Share Improves; De-Risking Continues

LONDON (Alliance News) - Alpha Real Trust Ltd on Friday said its net asset value per share was up ...

Alliance News 15 March, 2019 | 2:52PM
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LONDON (Alliance News) - Alpha Real Trust Ltd on Friday said its net asset value per share was up for the fourth quarter of 2018 and it is continuing its quest to de-risk its portfolio.

Shares in Alpha Real were up 9.0% at 159.20 pence on Friday.

Alpha Real invests in real estate and infrastructure, as well as other related businesses, and said its net asset value per share on December 31, 2018, was 205.6p, up from 178.4p on September 30 last year.

This performance was equal to that of the investor's A shares which were all converted to ordinary shares on a mandatory basis on January 24. This conversion followed the payment of a 0.31p per share special dividend to A share holders when Alpha Real received the final liquidation proceeds from its Romulus High Income Trust investment.

The company's net dividend for the quarter to the end of December will be 0.8p per shares, which will be paid on April 26.

In February, the company sold its data centre site in Frankfurtn for EUR44.8 million in cash and then in March announced the sale sale of its Monk Bridge site in Leeds for GBP15.4 million.

The company said it: "Continues to recycle capital from the sale of selected assets. Recent capital recycling has focussed on reducing exposure to development and leasing risk, as well as profit-taking and portfolio optimisation."

"Post period end the sale of the company's data centre site in Frankfurt and its residential site in Leeds were completed, following the securing of significant enhanced planning consents under the company's ownership. The realisation of these sales has helped deliver 19% growth in [Alpha Real Trust's net asset value] per ordinary share over the twelve-month period to December 31, 2018."

By Anna Farley;

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Alpha Real Trust Ord 152.50 794 -
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