Home Reit Regulatory News (HOME)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

For immediate release

11 May 2023

Statement regarding Home REIT PLC ("Home") by Bluestar Group Limited ("Bluestar")

Further to the announcement on 10 May 2023 by Bluestar made in relation to a possible offer for the entire issued and to be issued share capital of Home for 40 pence per share in cash (the "Possible Offer"), Bluestar today confirms it does not intend to make an offer under Rule 2.7 of the Code.

Bluestar is highly disappointed that the Board has not granted an extension to the PUSU deadline of 5.00 p.m. on 11 May 2023. Bluestar continues to believe that this Board decision removes a major element of optionality for shareholders and that the Possible Offer would have provided a route to upfront liquidity at a valuation level that Bluestar does not anticipate Home achieving in the public markets in the medium term.

This is a statement to which Rule 2.8 of the Code applies.

Under Note 2 on Rule 2.8 of the Code, Bluestar reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

i) with the agreement of the Board;

ii) following the announcement of a firm intention to make an offer for Home by or on behalf of a third party;

iii) if Home announces a Rule 9 waiver (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and

iv) where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.

Enquiries:

Numis (Financial Adviser to Bluestar)

Hugh Jonathan +44 (0) 207 260 1000

Stuart Ord

Further information

Numis Securities Limited ("Numis"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Bluestar and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Bluestar for providing the protections afforded to clients of Numis, nor for providing advice in relation to any matter referred to herein. Neither Numis nor any of its affiliates (nor any of their respective directors, officers, employees or agents), owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Numis in connection with this announcement, any statement contained herein or otherwise.

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