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Aurora UK Alpha PLC (ARR)
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Aurora Investment buys GBP100 million in net assets from Artemis Alpha
(Alliance News) - Aurora Investment Trust PLC on Friday said it will buy around GBP100 million in net assets from Artemis Alpha Trust PLC, as part of the firms' planned tie-up.
Artemis Alpha Trust is a London-based investment trust focused on the UK, while Aurora Investment Trust is a London-based investment trust and alternative investment fund.
The purchase was prompted by Artemis Alpha Trust shareholders on Friday approving the voluntary liquidation of the company.
As of September, Artemis Alpha agreed for its assets to be rolled into Aurora in exchange for the issue of new ordinary shares in Aurora, with a cash exit option for up to 25% of Artemis Alpha's existing issued share capital also available.
The purchase by Aurora on Friday will be made in exchange for the issue of 38.4 million new Aurora shares to Artemis Alpha Trust shareholders.
Aurora Investment Trust will change its name to Aurora UK Alpha PLC when Artemis Alpha has completed its wind-up.
Shares in Aurora Investment Trust were down 0.1% at 230.79 pence each in London on Friday afternoon, with a market capitalisation of GBP176.1 million.
Artemis Alpha Trust share were flat at 368.00 pence each, with a market capitalisation of GBP120.7 million.
By Emily Parsons, Alliance News reporter
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