News

30 November 2018
AXA Property Trust Limited

Net Asset Value 30 September 2018 (Unaudited) and Company Update

The Directors are pleased to present the unaudited Net Asset Value of the Company as at 30 September 2018.

The unaudited Net Asset Value as at 30 June 2018 was 45.68 pence per share (£10.69 million).

Company Update

The shareholder who voted against the proposals to place the Company into voluntary liquidation at the adjourned EGM held in September 2018, has indicated he wishes new proposals for the future strategy of the Company to be considered by the Board and, in due course, by shareholders. The Directors have requested that he confirms and elaborates on the proposals with further detail, including an expanded version of the proposed new investment policy.

As previously announced, the Board will continue to follow the current managed wind-down strategy until such time as shareholders approve any change. In order to support such a change, the Board will require a proposal which is sufficiently detailed to be shared with all shareholders for consideration and which the Board believes could be in the best interests of the Company and its members as a whole. The Board also remains committed to removing the current listing suspension as soon as possible.

The Company is close to finalising the lease negotiations at the Curno property and a further announcement is expected to be made in December 2018.

Company website:

retail.axa-im.co.uk/axa-property-trust

All Enquiries:
Investment Manager
AXA Investment Managers UK Limited
Broker Services
7 Newgate Street
London EC1A 7NX
United Kingdom

Broker
Stifel Nicolaus Europe Limited
150 Cheapside
London EC2V 6ET
United Kingdom
Tel: +44 (0)20 7710 7600

Company Secretary
Northern Trust International Fund
Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey GY1 3QL
Channel Islands