Alpha Real Trust announced the auction results on Investing.com

LONDON – Alpha Real Trust Ltd (ART) announced the results of its latest tender on Monday, which showed that the sale of shareholders fell short of expectations. The company extended the offer to buy up to 7,264,918 shares, representing 12 percent of the voting capital, at a price of 208.8 pence per share.

In the year Shareholders of the tender offer completed on January 17, 2025 have tendered 4,890,609 shares representing approximately 8.0% of the voting capital. This figure represents approximately 67.3% of the shares available for the offer and the Company has confirmed that all accepted bids will be met in full.

After the repurchase, ART’s total share capital stands at 63,580,029 shares, including 7,717,581 shares in treasury. As a result, the total voting rights in the company will be reduced to 55,862,448. Shareholders are advised to use this number as a reference for any calculations required to report changes in their interest in ART in accordance with the Financial Conduct Authority’s disclosure guidelines and transparency rules.

In addition to the auction results, ART reiterated its intention to withdraw from the Special Fund section. London Stock Exchange (LON: ) Main Market. The expected transaction deadline is scheduled for January 22, 2025, with the cancellation effective January 23, 2025 at 7:00 AM.

The company’s announcement is based on a press release, and the terms used are consistent with those listed in the circular issued on December 6, 2024. The circular is available on the company’s website.

Although the press release did not elaborate on the reasons for the bid or the cancellation of the transaction, the move is part of ART’s broader strategy. Shareholders can expect to receive proceeds from their tendered shares beginning January 21, 2025, with payments being made by check or CREST accounts.

This article was created by AI Support and reviewed by an editor. See our T&C for more information.