Business
Independent Review of IM Arrangements - Outcome
Independent Review of IM Arrangements - Outcome.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n\n \n30 September 2024 \n \nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\n \nINDEPENDENT REVIEW OF INVESTMENT MANAGEMENT ARRANGEMENTS - OUTCOME\n \nFurther to the announcement on 13 September 2024, the Board of Triple Point Social Housing REIT plc (ticker: SOHO) announces that after careful consideration it has selected Atrato Partners Limited (\"Atrato\") to be appointed as the Company's new investment manager.\n \nThe appointment of Atrato is subject to agreeing a new investment management agreement (the \"New IMA\"). The key terms of the New IMA will be announced in due course, however the Board is satisfied that the New IMA will deliver significant cost savings whilst maintaining the existing high levels of service provision.\n \nThe formal transition of the investment management services from Triple Point Investment Management LLP (\"Triple Point\") to Atrato is expected to occur in January 2025.\n \nIn the interim period, the Board and Atrato will work collaboratively with Triple Point, and the Group's other advisers and stakeholders, to affect an orderly transition of services. In particular, the transition period will focus on ensuring that the welfare of the residents of the Group's properties is prioritised, operational performance is preserved and that progress with ongoing corporate initiatives is maintained, as appropriate.\n \n \nChris Phillips, Chair of Triple Point Social Housing REIT plc, commented:\n \n\"The Board would like to thank Triple Point for their support and the consistent operational performance of the Company since IPO. Triple Point's commitment has been reflected in the constructive approach taken to the independent review of investment management arrangements and the proposed transition of services to Atrato.\"\n \nFOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:\n \n\n\n\n\n Triple Point Social Housing REIT plc\n\n\nVia Brunswick Group\n\n\n\n\n Chris Phillips\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Akur Limited (Financial Adviser)\n\n\...