Alpha Pyrenees Sells Retail Centre in Spain

RNS Number : 1263A

Alpha Pyrenees Trust Limited

21 December 2017

 

21 December 2017

ALPHA PYRENEES TRUST LIMITED

("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES SELLS RETAIL CENTRE IN SPAIN

Alpha Pyrenees has sold the various units it held in the retail and leisure centre known as Las Torres located at Ecija in Andalusia totalling approximately 5,865 square metres for €500,000.

The purchaser is a private Spanish 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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