(Alliance News) - Home REIT PLC on Wednesday responded to a research report about the London-listed real estate investment trust that it described as "inaccurate and misleading".
Home REIT did not name author of the report, but said that it is a Delaware-based firm that specialises in short selling, meaning it profits from falls in the company's share price. Home REIT was contacted to provide the name of the firm.
Shares in Home REIT were down 25% to 58.20 pence each in London on Wednesday. The price has halved over the past 12 months.
The London-based homeless accommodation investor said the report was published "without any engagement with the company's board, investment advisor, or wider advisory team."
Home REIT said it was based on "mistaken assumptions, misinformed comments, and disputable allegations".
It will published a "full and detailed response" demonstrating "factual inaccuracies...as soon as reasonably practicable."
The daily short positions report from the UK Financial Conduct Authority lists Oasis Investments II Master Fund Ltd as having a short position in Home REIT, with a 2.2% position taken on Monday.
By Chris Dorrell; chrisdorrell@alliancenews.com
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