Alpha Pyrenees Trust extends maturity date on borrowings to 2018

Alpha Pyrenees Trust Ltd said the maturity date of all the trust's remaining borrowings, totalling €89.8m, has been extended by agreement with Barclays to 31 October, 2018

At 12:31 GMT, shares in Alpha were up 66.67% to 0.12p.

It said the present interest rates would continue to apply to the facilities during the extension period.

Alpha added that arrangement fees (charged at 2% a year, pro-rated) on the initial and all extensions up to 15 April, 2016, would be deferred to the new maturity date and would be payable to the extent that the Trust has sufficient cash funds at that time.

It said no additional arrangement fee has been charged for the new extension period.

Alpha said it had the support of its lender for an orderly realisation of its remaining six investment properties with a view to winding up the trust's group in due course.