3 December
2024
PRSR.L
The PRS REIT plc
("PRS REIT" or "the
Company")
Update on Strategic Review and Formal
Sale Process
As announced on 23 October 2024, the Board is
conducting a review of the Company's strategic options including a
potential sale of the Company (the "Formal Sale Process") (together the
"Strategic
Review").
Pursuant to the Formal Sale Process, the Board
is currently in active discussions with a number of interested
parties in relation to a potential sale of the Company and has made
available a dataroom.
Pursuant to the Strategic Review, the Board
will also continue to explore all the options available to the
Company focusing on maximising value for the Company's
shareholders.
The Board will provide a further update to
shareholders on the Strategic Review and Formal Sale Process in
calendar Q1 2025.
For
further information, please contact:
|
The PRS
REIT plc
Geeta Nanda, Senior Independent Non-Executive
Director
Robert Naylor, Non-Executive
Director
|
Tel: 020 7496 3000 (c/o Singer Capital
Markets)
|
|
Singer Capital
Markets
James Moat, James Maxwell, Asha
Chotai
|
Tel: 020 7496 3000
|
|
G10 Capital
Limited (AIFM and part of IQ-EQ group)
Maria Baldwin
|
Tel: 020 7397 5450
|
|
KTZ
Communications
Katie Tzouliadis, Robert Morton
|
Tel: 020 3178 6378
|
NOTES TO EDITORS
About The PRS REIT plc www.theprsreit.co.uk
The PRS REIT plc is a
closed-ended real estate investment trust established to invest in
the Private Rented Sector ("PRS") and to provide shareholders with
an attractive level of income together with the potential for
capital and income growth. The Company is investing
over £1bn in a portfolio of high-quality homes for
private rental across the regions, having raised a total
of £0.56bn (gross) through its Initial Public Offering,
on 31 May 2017 and subsequent fundraisings
in February 2018 and September 2021.
The UK Government's Homes England has supported the Company with direct
investments. The Company is listed on the Closed-ended
investment funds category of the FCA's Official List and its
Ordinary Shares are traded on the London Stock
Exchange's Main Market. It is a constituent of
the FTSE 250 Index. With 5,425 new rental homes as
at 30 September 2024, the Company believes its portfolio is
the largest build-to-rent single-family rental portfolio in
the UK.
LEI: 21380037Q91HU97WZX58
About Sigma PRS Management Ltd
Sigma PRS Management Ltd is a
wholly-owned subsidiary of Sigma Capital Group
Limited and is Investment Adviser to The PRS REIT plc. It
sources investments and operationally manages the assets of
The PRS REIT plc and advises the Alternative
Investment Fund Manager ("AIFM") and The PRS REIT
plc on a day-to-day basis in accordance with The PRS REIT
plc's Investment Policy. The AIFM is G10 Capital
Limited. Sigma PRS Management Ltd is an appointed
representative of G10 Capital Limited, which is authorised and
regulated by the Financial Conduct Authority
(FRN:648953).
Publication on website
For the purposes of Rule 26.1 of the
Takeover Code, a copy of this announcement will be made available
(subject to certain restrictions relating to persons resident in
restricted jurisdictions) on the Company's website
https://www.theprsreit.com/ promptly following its publication
and in any event no later than 12 noon (London time) on the
business day following the release of this announcement. The
content of the website referred to in this announcement is not
incorporated into and does not form part of this
announcement.