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Industrial Multi-Property announces a further EGM

Industrial Multi-Property Trust (IMPT) has announced that, in addition to the EGM already convened for 19 January 2017 by Alpha Real Trust (an 18.7% shareholder in IMPT), IMPT’s directors are convening a second EGM for 27 January 2017. Rather than cut and paste from the announcement, we have attached a copy of it here. However, the board of IMPT says that IMPT’s shareholders should, “…question the motivations of Alpha Real Trust by proposing to place an additional condition on a possible portfolio sale”.

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About Industrial Multi-Property Trust

Industrial Multi-Property Trust (formerly Alpha UK Multi Property) was formed primarily for investment in UK commercial property. The objective of the Company is to seek to improve income, reduce debt and provide the prospect of long term capital growth.

About Alpha Real Trust

Alpha Real Trust targets investment and development opportunities in real estate, including real estate operating companies, securities, services and other related businesses that offer high total returns. Alpha Real Trust’s investment manager says that it will seek to identify investment opportunities where income and capital values can be enhanced where appropriate through: space reconfiguration where under-utilised or inefficient areas within a building can be re-arranged to provide more valuable space; refurbishment and redevelopment where space can be modernised and the specification upgraded to create space which can command higher rents; re-leasing, which has the potential to increase the rental income to an open market level, when this is in excess of the existing rent; space creation by extending the building to meet tenant demand; and change of use which can result in higher value use for certain areas of a building or for entire properties.

Industrial Multi-Property announces a further EGM : IMPT

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