Business
Update on Review of Strategic Options
Update on Review of Strategic Options.
About this update from Home Reit Plc
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n \n 15 March 2023\n \n \n \n \n Home REIT plc\n \n \n \n \n \n \n \n \n \n (\"Home REIT\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Update on Review of Strategic Options (the \"Review\")\n \n \n \n Following the announcement by the Company on 16 February 2023, the Board is providing an update in relation to certain aspects of the Review.\n \n \n \n Review update\n \n \n \n Following consultation with a range of shareholders, the Board is considering all its options for the ongoing management of the Company's assets, and, consequently, is initiating a process to consider candidates to act as investment adviser. Discussions have commenced with a number of candidates and the process will be concluded as soon as is practicable. Alvarium Home REIT Advisors Limited (the \"Investment Adviser\") continues to work closely with the Board and its advisers and will work towards an orderly handover at the appropriate time.\n \n \n The Board continues to explore all options, including an orderly realisation of some or all of its assets and/or a sale of the Company to maximise value for shareholders.\n \n \n The Board and its advisers are in close contact with Scottish Widows, the Group's main lender, and are grateful for its support to date. The Board is continuing to work with BDO to seek to finalise the audit of its accounts for the year ended 31 August 2022. The investigation by Alvarez & Marsal is continuing.\n \n \n The Investment Adviser and Simpact continue to work closely with the Company's tenants to restore rent payments and maintain service provision for the occupants of the Company's properties.\n \n \n \n Investment Policy\n \n \n \n The Company is considering whether material changes to its Investment Policy are necessary or advisable at this stage to continue as a listed company. Any such changes would require the approval of the FCA and shareholders under the Listing Rules. Any proposals, if recommended, wi...