TEMPORARY SHARE SUSPENSION

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 Adviser) Dido Laurimore Eve Kirmatzis Ellie Perham-Marchant Oliver Harrison

[e-mail] [phone]

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.

 

END

 

 

SRSBJMRTMTIMMIJ