Alpha Real Trust : 2019-10-18 Results of Scrip Dividend Alternative Election

LEI: 213800BMY95CP6CYXK69

18 October 2019

ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")

RESULTS OF SCRIP DIVIDEND ALTERNATIVE ELECTION

Scrip dividend alternative elections were received in respect of 41,623,043 shares representing a take up of 68% of the Company's share capital as at the record date for the dividend. This will result in the issue of 231,625 new ordinary shares (approximately 0.4% of the current issued share capital). These shares will be issued at a price of 179.7 pence each and will rank pari passu in all respects with the Company's existing issued ordinary shares.

An application will be made to the London Stock Exchange for these shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market. It is expected that admission will occur on 23 October 2019.

Following the issue of these shares, the ordinary share capital of the Company will be 61,397,408 (including 1,940,797 Ordinary Shares held in treasury) and the total voting rights in the Company will be 59,456,611 with effect from 23 October 2019. The figure of 59,456,611 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, ART under the FCA's Disclosure and Transparency Rules.

Share certificates will be posted to certificated shareholders who elected for scrip dividend shares and shareholders holding shares in CREST, who elected for scrip dividend shares, will have their CREST accounts credited directly on 23 October 2019.

For further information please contact:
Alpha Real Trust Limited
David Jeffreys, Chairman, Alpha Real Trust	[phone]
Brad Bauman, Joint Fund Manager, Alpha Real Trust	[phone]
Panmure Gordon, Broker to the Company
Atholl Tweedie	[phone]

Further information on the Company can be found on the Company's website: www.alpharealtrustlimited.com.

Registered office: PO Box 286, Floor 2, Trafalgar Court, Les Banques, St. Peter Port, Guernsey GY1 4LY

Registered No: 44786

Alpha Real Trust Limited is advised by Alpha Real Capital LLP, which is authorised

and regulated by the Financial Conduct Authority in the United Kingdom.