Last checked at 23 Nov 2022 11:46
23 November 2022
Home REIT plc
("Home REIT" or the "Company")
RESPONSE TO INACCURATE SHORT SELLING REPORT
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, notes the recent report published by a Delaware-based firm specialising in short selling, meaning it profits from any falls in the Company's share price.
The report was published without any engagement with the Company's Board, Investment Advisor, or wider advisory team. It is the Board's belief that the report is inaccurate and misleading in its comments about the Company, being based on mistaken assumptions, misinformed comments, and disputable allegations.
The Company will publish a full and detailed response demonstrating the factual inaccuracies and selective use of information in due course. This will be published via RNS and on the Company's website as soon as reasonably practicable.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alvarium Home REIT Advisors Limited Charlotte Fletcher Alex Baker James Snape | Via FTI Consulting below |
Alvarium Securities Limited Mark Thompson Eddie Nissen Oliver Kenyon |
+44 (0)20 7016 6711+44 (0)20 7016 6713 +44 (0)20 7016 6704 |
| |
Jefferies International Tom Yeadon Harry Randall Ollie Nott | +44 (0)20 7029 8000 |
FTI Consulting (Communications Adviser) Dido Laurimore Eve Kirmatzis Ellie Perham-Marchant Oliver Harrison | HomeREIT@fticonsulting.com +44 (0)20 3727 1000 |
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.