Home REIT PLC TEMPORARY SHARE SUSPENSION (4668L)
January 03 2023 - 2:45AM
UK Regulatory
TIDMHOME
RNS Number : 4668L
Home REIT PLC
03 January 2023
3 January 2023
Home REIT plc
("Home REIT" or the "Company")
TEMPORARY SHARE SUSPENSION
Home REIT plc (ticker: HOME), which funds the acquisition and
creation of high-quality properties across the UK that are
dedicated to providing accommodation to homeless people, announces
a temporary suspension to the listing of the Company's ordinary
shares.
The Company noted in its announcement of 12 December 2022 the
requirement of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rule 4.1.3 for a company to publish its
annual financial report within four months after the end of its
financial year, in the case of the Company this date being 31
December 2022 (the "2022 Results").
As previously announced, the Company is being subject to an
enhanced set of audit procedures by its independent auditor, BDO
LLP ("BDO"). This has delayed the audit to the 2022 Results and has
meant it is not possible for the Company to publish by 31 December
2022.
Therefore, the listing of the Company's ordinary shares has been
temporarily suspended with effect from 7.30 a.m. on 3 January 2023.
The Company intends to request a restoration of the listing of its
ordinary shares upon publication of the 2022 Results, which the
Company expects to be published by as soon as practicable.
Whilst the Company awaits the completion of BDO's enhanced audit
procedures, the Company will continue with the previously announced
steps to maintain and enhance shareholder confidence, while
maintaining its ordinary course operations to provide high-quality
housing for some of the most vulnerable people in society.
FOR FURTHER INFORMATION, PLEASE CONTACT:
FTI Consulting (Communications HomeREIT@fticonsulting.com
Adviser) +44 (0)20 3727 1000
Dido Laurimore
Eve Kirmatzis
Ellie Perham-Marchant
Oliver Harrison
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website:
www.homereituk.com
About Home REIT plc
Home REIT plc seeks to contribute to the alleviation of
homelessness in the UK, whilst targeting inflation-protected income
and capital returns, by funding the acquisition and creation of a
diversified portfolio of high-quality accommodation assets across
the UK which are dedicated to providing accommodation to homeless
people. The accommodation assets are let or pre-let on very long
(typically 20 to 30 years) leases, containing inflation-linked or
fixed uplift rent review provisions, to registered charities,
housing associations, community interest companies and other
regulated organisations which have a proven operating track record
in providing low-cost accommodation to homeless people and which
receive housing benefit or comparable support from local or central
government to fund the provision of such accommodation to homeless
people.
There is a critical need for further accommodation for homeless
people in the UK, due to an increasing homeless population and a
lack of available and affordable high-quality, fit-for-purpose
stock to address the problem. Local housing authorities are under a
statutory duty to secure accommodation for individuals who are
unintentionally homeless and in priority need but current
accommodation for homeless people is limited in quantum and often
sub-standard and uneconomical.
The Company focuses on investing in and creating well-located
properties that provide a sustainable level of rent for the tenant.
Within the homeless accommodation assets, there is a focus on care,
support, training and rehabilitation to provide vulnerable homeless
people with the skills and confidence to find long-term
accommodation and enable them to reintegrate back into society.
Savings are expected to be made to local authorities and other
providers of accommodation to homeless people via lower rents
versus more expensive alternative accommodation.
The Company is listed on the premium segment of the Official
List of the UK Financial Conduct Authority and its Ordinary Shares
were admitted to trading on the main market of the London Stock
Exchange, premium segment, on 12 October 2020.
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