NAV 31p
price 7.5p 10.5p.
The board of Alpha UK Multi Property Trust Plc advises that as at close of business on 30 September 2010, the diluted unaudited net asset value per Ordinary Share of the Company was 31.89 pence (31 August 2010: 31.57 pence). This represents an increase of 1.01 per cent per Ordinary Share.

The diluted net asset value of Ordinary Share is calculated taking into account the effect on net asset value per Ordinary Share if the 4.75 million Convertible Unsecured Loan Stock ("CULS") issued by the Company on 9 August 2010 to Alpha Tiger Property Trust Limited ("Alpha Tiger") be converted. The CULS instrument is issued at a coupon of 4.75% per annum and enables Alpha Tiger to convert the total unpaid amount of the CULS instrument into Ordinary Shares at the rate of 31 pence per Ordinary Share. The Company has not received notice from Alpha Tiger of its intention to convert its CULS instrument into Ordinary Shares. The Company will issue further CULS of 0.03 million to Alpha Tiger in respect of the coupon for the period to 1 October 2010 thereby preserving cash within the Company. This would increase the total value of the CULS to 4.78 million.

The property portfolio was valued at 30 September 2010 by DTZ Debenham Tie Leung Limited ("DTZ"). There has been an small increase in valuation of 0.01 million to a total valuation for the property portfolio of 112.26 million (30 June 2010: 112.25 million).

There were no property sales or acquisitions completed during September 2010.

The Company remains in active discussions with Nationwide Building Society ("Nationwide") in regard to the loan facility between Nationwide and the Company's subsidiary CHIP (Six) Limited. The waiver provided by Nationwide in respect of loan to value and forward interest cover and breaches expired on 16 October 2010. However while no formal approval has been provided by Nationwide the Board remains confident of achieving a satisfactory conclusion with Nationwide.

During the quarter to 31 March 2011, the Company repaid debt to its secured lenders of 0.40 million, with a further 0.94 million of secured debt repaid in April 2011 (which includes the proceeds from the sale of the two units at Shadsworth Industrial Estate, Blackburn referred to above). As a result of these loan repayments, the total secured debt of the Company has reduced by 1.34 million to 80.64 million at the date of this announcement, with the loan to value ("LTV") reducing from 73.1% at 31 December 2010 to 72.5% currently.

As previously reported, terms have been agreed to resolve the then current breach of covenant with Nationwide, in respect of loans to CHIP (Six) Limited. Further discussions have been subsequently held with Nationwide to agree a more permanent solution to the current and any future potential covenant breaches. These discussions have been positive and the Company shall provide a further update in due course.



During the period, the Company's net asset value has benefited from gains of 0.44 million, given the value of its net interest rate swap and cap liabilities have reduced from net liabilities of 1.19 million at 31 December 2010 to 0.75 million at 31 March 2011. Whilst the total market valuation of the interest rate swaps is currently in deficit, their value will run to zero over the term of the contracts, which is the intention of the Company. The swaps and cap continue to provide a fixed rate of interest to the Company






1 july 2011

The Directors are of the view that it would benefit the Company and the Shareholders to consolidate the number of ordinary shares in issue, with a resulting improvement in the market price, by consolidating its ordinary share capital on the basis of every ten existing ordinary shares of 1 penny each into one ordinary share of 10 pence (the "Consolidation").

The Directors believe that the Consolidation may bring the following benefits to Shareholders, inter alia:

the prevailing share price of the Company has resulted in a substantial "bid/offer spread" - being the relative pricing at which ordinary shares can be bought and sold on market - which is both a constraint to existing Shareholders and reduces the appeal of the Company's ordinary shares to prospective shareholders. The Directors believe that this "bid/offer spread" may be substantially reduced following the Consolidation;

the Consolidation may help improve liquidity which may lead to some improvement in the Company's share price, notably relative to the Company's net asset value per share, which, following Consolidation, would be 336 pence per ordinary share (based on the Company's net asset value as at 31 March 2011);

the Directors have noted that the share price at its prevailing level is subject to high volatility on low volume trading, which is unfavourable to Shareholders; the Consolidation could help reduce this market volatility.

Assuming the relevant Shareholder approval is forthcoming, the Consolidation will become effective on Friday 1 July 2011. Accordingly, applications shall be been made by the Company to the UK Listing Authority and to the London Stock Exchange, whereby 8,409,520 ordinary shares of 10 pence each will commence trading on Friday 1 July 2011.

IS THIS TOO CHEAP. 64p

its on the move

Are you missing this.

up 3p today

Revaluation and NAV

The Company's adjusted NAV per Ordinary Share was 219 pence as at 30 September 2013 which represents a decrease of 2.23% from that reported at 30 June 2013 of 224 pence. Primarily this fall resulted from the revaluation of the property portfolio.

The Group's property portfolio was valued at 30 September 2013 by DTZ Debenham Tie Leung Limited at £78.0 million; this represents a £0.6 million (0.73%) fall compared to the valuation at 30 June 2013. The property portfolio will next be valued by an independent valuer as at 31 December 2013.

Adjusted earnings per ordinary share increased - 12.6 pence for the year ending 31 December 2013 (6.8 pence for the year ending 31 December 2012).
Net asset value ("NAV") per ordinary share - 224 pence as at 31 December 2013 (248 pence at 31 December 2012).