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Home REIT PLC - Statement issued by Bluestar Group Ltd. Bluestar claims Home REIT has provided limited due diligence material despite repeated requests. Despite this, Bluestar remains "highly motivated" and "enthusiastic" about a possible offer for the company.
However, notes Home REIT's decision not to recommend an extension of the 'put up or shut up' deadline. Bluestar says it is its firm view that it would be in the best interests of shareholders and other Home stakeholders for the board to extend the PUSU deadline and to engage properly with Bluestar on ways to facilitate a streamlined due diligence process. Bluestar considers that the possible offer would attract the support of shareholders. Given the imminence of the deadline, Bluestar is requesting Home REIT shareholders to immediately urge the board to engage properly with Bluestar on the possible offer.
Home REIT's shares are currently suspended from trading in London, after it failed to publish its annual financial report for the year ended August 31 in time.
By Jeremy Cutler, Alliance News reporter
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