30th Mar 2017 14:40
30 March 2017
ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "TRUST")
ALPHA PYRENEES SELLS VACANT OFFICE BUILDING IN CHAMPS SUR MARNE, FRANCE
Alpha Pyrenees has sold a vacant office building, of approximately 5,930 square metres, located in Champs sur Marne, France for €2.6 million.
The purchaser is a private French investment company.
The sale forms part of the orderly realisation process supported by the Trust's lender, Barclays Bank PLC, and the net proceeds from this sale will be used to reduce the Trust's bank borrowings.
As the Board has previously stated, the sales process will not result in any return to ordinary shareholders after repayment of the Trust's bank borrowings has taken place, to the extent that this is possible.
The Trust will provide further updates in due course.
For further information:
Serena Tremlett, Chairman, Alpha Pyrenees Trust Limited 01481 231100
Paul Cable, Fund Manager, Alpha Real Capital LLP 020 7391 4700
For more information on the Trust, please visit www.alphapyreneestrust.com.
Related Shares:
Alpha Group International