UK's Home REIT mulls investment policy changes to continue as listed firm
(Reuters) - British housing provider Home REIT said on Wednesday it was considering whether material changes to its investment policy were necessary to continue as a listed company, at a time the firm is battling multiple issues including rent defaults.
The company said it was initiating a process to consider candidates to act as its investment adviser and was in talks with a number of them, months after being rocked by a short-seller report.
Home REIT has been under scrutiny over the last few months after a short-seller report by Viceroy Research questioned the ability of Home REIT's tenants to pay rent, among other issues.
The company earlier this month said that two of its tenants had entered into creditors' voluntary liquidation, adding to worries for the firm as it tries to fend off a short-seller attack and reviews a sale.
The company last month said it received an unsolicited takeover approach, adding that any offer by London-based Bluestar Group Ltd, an investment firm focused on pan-European real estate-backed businesses, was likely to be in cash.
Home REIT said it was continuing to work with auditor BDO to seek to finalise the audit of its accounts for the year ended Aug. 31, 2022.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shailesh Kuber)