Description
The Board of Home REIT plc announces that the 2023 Annual General Meeting of the Company will be held on Monday, 20 February 2023 at 9.30 a.m. at the offices of FTI Consulting at 200 Aldersgate Street, London, EC1A 4HD.
SPLIT AGM AND ACCOUNTS MEETING
On 25 November 2022, the Company announced that it was delaying the publication of its results for the financial year ended 31 August 2022 to allow the Company’s auditor, BDO LLP, to undertake an enhanced set of audit procedures. As subsequently announced on 19 January 2023, BDO has advised that it will not be able to conclude the enhanced audit in advance of 31 January 2023, as originally intended. The Company and its advisers continue to work with the auditors to ensure these accounts can be published as soon as possible.
As a result of the delays to the publication of the 2022 Annual Report and Accounts, it is not currently possible to propose the standard resolutions at the AGM relating to receiving the audited financial statements and the auditor’s and directors’ reports, approving the directors’ remuneration report and the re-appointment and remuneration of the auditor. However, under the UK Companies Act 2006, the Company is obliged to hold an annual general meeting on or before 28 February 2023.
As a result of this obligation, and following extensive consultation with the Company’s major shareholders, the Board has decided to hold its Annual General Meeting on 20 February 2023, with this meeting providing shareholders with the chance to meet with the Company’s Board of Directors and Investment Adviser, but the Company will defer all the standard AGM resolutions to a separate “accounts general meeting” of shareholders to be held as soon as possible following the publication of the 2022 Annual Report and Accounts. The 2022 Annual Report and Accounts will be published as soon as practically possible and notice of the accounts general meeting will be sent to shareholders shortly thereafter. The Board believes that this proposal allows the Company to comply with its legal obligations in the most efficient, straightforward and transparent way whilst ensuring that shareholders will get a chance to vote on the normal AGM resolutions once the Company has published the results for the period to which these relate.
Accordingly, no resolutions will be proposed at the AGM. However, the Board and the Company’s Investment Adviser will instead use the AGM to update shareholders on the current situation and give shareholders the opportunity to ask questions.
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