Sale Vacant Office Bldg, Champs sur Marne, France

RNS Number : 0559B

Alpha Pyrenees Trust Limited

30 March 2017

 

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.

 

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