20th Jun 2018 15:54
LONDON (Alliance News) - Alpha Pyrenees Trust Ltd said Wednesday it has sold an office property in Saint Cyr, Ile-de-France, for EUR2.5 million.
The 6,340 square metres office in northern France was sold to a private French investment company.
Alpha Pyrenees said the net proceeds from the sale will be used to reduce the trust's bank borrowings from Barclays Bank PLC.
Alpha Pyrenees also stated that the sales proceeds "will not result in any return to ordinary shareholders" after repayment of the trust's bank borrowings.
Shares in Alpha Pyrenees went untraded Wednesday but last closed at 0.10 pence each.
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Alpha Group International