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Alpine Global Premier Propertie Message Board

  • kentw007 kentw007 Feb 10, 2012 11:15 AM Flag

    Share repurchase plan

    will support and add to value

    Alpine Global Premier Properties Fund (NYSE: AWP - News) (the “Fund”) today announced that its Board of Trustees (the “Board”), as part of an ongoing evaluation of strategic options to seek to enhance shareholder value, has authorized a new Share repurchase plan (the “Repurchase Plan”). Under the Repurchase Plan the Fund may purchase, in the open market, up to 10% of its outstanding common shares effective immediately and going through October 31, 2012. The amount and timing of repurchases will be at the discretion of the Fund’s investment adviser, Alpine Woods Capital Investors, LLC (the “Adviser”), and subject to market conditions and investment considerations.

    The decision to authorize the Repurchase Plan reflects the Board’s belief that, although the Fund’s market price and underlying net asset value (“NAV”) have increased since the end of 2011, the market continues to undervalue the Fund’s shares relative to its NAV (which was $7.27 as of February 7, 2012)

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