Sale of Warehouse in Zaragoza, Spain

RNS Number : 8993S

Alpha Pyrenees Trust Limited

29 December 2016

 

29 DECEMBER 2016

ALPHA PYRENEES TRUST LIMITED

("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES SELLS VACANT WAREHOUSE IN ZARAGOZA, SPAIN

Alpha Pyrenees has sold a vacant warehouse located in Zaragoza, Spain for €370,000. The property is approximately 2,590 square metres and is located on an established industrial estate.

The purchaser is a private Spanish engineering company.

The sale forms part of the orderly realisation process supported by the Trust's lender, Barclays Bank PLC ("Barclays"), 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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