Home REIT’s board is considering candidates to become investment adviser of the company, as it continues to consider all options for its future.
It said that discussions had commenced with a number of candidates to take over from Alvarium Home REIT Advisors Limited.
The board is also considering selling some or all of its assets and/or selling the company. To that effect, Bluestar Group, which approached the company regarding a possible takeover in February, has been given more time to announce whether it intends to make an offer, with the deadline extended to 13 April.
The board also said that it was continuing to work with auditor BDO to finalise the audit of its accounts for the year ended 31 August 2022 (the delay of which meant trading in its shares have been suspended since the turn of the year).
The investigation by Alvarez & Marsal into wrongdoing on the part of the investment manager relating to whether investment prices were artificially inflated is also ongoing.
Investment policy
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. Any proposals, if recommended, will be put forward to shareholders in due course.
HOME : Home REIT looks to replace investment adviser