Alpha Real Trust (AIM:ARTL) jumped almost 50% as it unveiled a plan to delist from the London Stock Exchange and return cash through a tender offer to shareholders who do not want to stay put in a private company.
Liquidity in the shares is too low to warrant it remaining on the LSE’s Specialist Fund Segment, Alpha said in a statement.
The tender will be at a fixed price of 208.8p per share, a 78% premium to the recent market with a concert party shareholders speaking for 88% of the used capital already agreeing not to tender any of their holdings.
Cancellation is expected to occur on 25 January 2025.