Result of Tender Offer

RNS Number : 4198F

Alpha Tiger Property Trust Limited

12 January 2010

 



Alpha Tiger Property Trust Limited

12 January 2010

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OF AMERICA OR ANY OTHER EXCLUDED TERRITORY

Alpha Tiger Property Trust Limited ("Alpha Tiger" or the "Company")

Announcement of result of Extraordinary General Meeting, take-up level under the Tender Offer and Total Voting Rights

The Company announces that at the Extraordinary General Meeting held earlier today, all the resolutions proposed were passed.

The Company also announces the result of the Tender Offer, which closed at 3.00 p.m. on 11 January 2010. The terms of the Tender Offer were set out in the tender offer document posted to  Shareholders 
on 16 December 2009 (the "Tender Offer Document"). Terms used in this announcement shall have the meanings given to them in the Tender Offer Document.

The full result of the Tender Offer is as follows:

Total number of Ordinary Shares in issue as at the Record Date (excl treasury shares):	67,500,000
Maximum number of Ordinary Shares to be repurchased under the Tender Offer:	16,868,250
Total number of Ordinary Shares tendered under the Tender Offer:	10,537,706

Shareholders who tendered Ordinary Shares (whether less than or in excess of their Basic Entitlement Amount) will have their tender accepted in full.

All 10,537,706 Ordinary Shares tendered will be repurchased for cancellation under the Tender Offer, with approximately £7.6 million returned to Shareholders. Following the completion of the purchase pursuant to the Tender Offer, expected to occur on 18 January 2010, approximately 16 per cent. of the issued share capital of the Company will be cancelled (this includes 1,170,857 shares already held in treasury which are being cancelled following the Tender Offer to ensure that the Company holds no more than 10 per cent. of its share capital in treasury pursuant to Guernsey law requirements).

The consideration for the Tender Offer will be sent to those Shareholders who successfully tendered Ordinary Shares by 26 January 2010.

The Tender Offer remains conditional on fulfilment of the conditions set out in the Tender Offer

Document. 

Total Voting Rights

The ordinary share capital of the Company following completion of the Tender Offer and cancellation of those Ordinary Shares which are to be repurchased will be 63,291,437 (including those shares held in treasury). The Company will hold a total of 6,329,143 shares in treasury.

The total voting rights in Alpha Tiger following completion of the Tender Offer and cancellation of the Ordinary Shares will be 56,962,294.

The total voting rights figure (56,962,294) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Alpha Tiger under the FSA's Disclosure and Transparency Rules and/or the AIM Rules for Companies.

Contact:

Alpha Tiger Property Trust Limited

David Jeffreys, Chairman, Alpha Tiger                                                         [phone] 

Brad Bauman, Alpha Tiger Fund Manager                                                   [phone]

Panmure Gordon, Nominated Adviser & Broker to the Company 

Richard Gray/Andrew Potts/Stuart Gledhill                                                  [phone]

Further information on Alpha Tiger Property Trust Limited is available at www.alphatigerpropertytrust.com

 

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