Business
Update on unaudited financial position
Home REIT plc reports that as of June 30, 2026, it has £3.4 million in unrestricted cash, £100.8 million in short-term cash securities, and £4.4 million in transit from property sales, with an additional £25.0 million receivable from Patron Capital due in April 2027. The company expects to auction its remaining four properties in July 2026, with an August 2025 valuation of £1.1 million less expected sales costs, and has 39 property sales exchanged but not yet completed, expecting £3.1 million in net proceeds. In the second quarter, the Group incurred £3.0 million in non-property operating expenses, primarily legal fees related to litigation and an FCA investigation, and notes that distributions to shareholders remain constrained due to threatened shareholder litigation. Disclaimer*
About this update from Home Reit Plc
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 1 July 2026 Home REIT plc ("HOME" or the "Company") Update on unaudited financial position The Company today provides an update on the status of the sale of the remaining properties in the portfolio and its cash and cash equivalents position as at 30 June 2026. Outstanding Property Sales Information: As at 30 June 2026 Properties expected to be auctioned in the July 2026 auction 4 August 2025 valuation of those remaining properties less expected sales costs £1.1m Number of property sales exchanged, not yet completed 39 Expected net proceeds for property sales exchanged, not yet completed £3.1m A total of 39 properties were auctioned in May 2026, followed by 32 properties on 25 June 2026. The latter generated gross proceeds of £2.9m, with most expected to complete by 31 July 2026. The four properties remaining in the portfolio are expected to be auctioned in July 2026. Total gross proceeds in this year to date from auctions for the residual portfolio are £15.33m versus the equivalent August 2025 valuation of £16.26m. As at 30 June 2026, being the latest practicable date prior to this announcement, the Company, together with its subsidiaries (the "Group"), had £3.4m of unrestricted cash; £100.8m held in short-term cash securities, such as low duration UK government bonds and money market funds; and cash in transit from solicitors for completed property sales of £4.4m. Further, the Group had a receivable of £25.0m from Patron Capital due on 1 April 2027, supported by a bank guarantee. In the second calendar quarter the Group incurred £3.0 million in non-property operating expenses, primarily legal fees associated with defending itself against threatened litigation and in relation to the ongoing FCA investigation, as well as management fees. The Group expects certain costs to continue to trend down as the remaining properties are sold, however, legal fees are expected to remain material whilst the Company faces potential group litigation. Return of capital to shareholders The Company has repeatedly indicated that the ability of the Company to make distributions to shareholders continues to be co...