5th Oct 2018 10:48
LONDON (Alliance News) - Alpha Real Trust Ltd on Friday said it will buy back 5.0 million of its shares at a price of 138 pence per share.
Back in January, the investor's shareholders approved buybacks of up to a quarter of shares. The 138p purchase price is a 21% discount to the net asset value of 174.8p per share on June 30 and has a total value of GBP6.9 million.
"Since 5 January, the company has bought back a total of 10,000 ordinary shares under its share buyback programme. Given this position, the board believes a return of capital by way of tender offer is appropriate," said Alpha Real.
Shares in Alpha Real were up 2.2% at 136.40p on Friday.
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