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Home REIT PLC confirmed payment of approximately £9m in additional fees to Scottish Widows in December 2024, resulting in the release of Scottish Widows' charge over the Company's assets. Separately, Home REIT and LTG Vision agreed to surrender 171 properties, with Lomond Investment Management appointed as property manager for these assets. The Company expects to publish its accounts for the year ended 31 August 2023 in January 2025, and for the year ended 31 August 2024 in Q1 2025.
| Date | 24 Dec 2024 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 1957R |
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
24 December 2024
Home REIT plc
("Home REIT" or the "Company")
Debt Repayment, Tenant and Accounts Publication Update
Debt Repayment
On 28 November 2024, the Company announced it had made full repayment of the loans from Scottish Widows and that a further payment of approximately £9m in respect of additional fees would be made in December 2024. The Company confirms that the additional fees have now been paid and Scottish Widows has released its charge over Home REIT's assets.
Tenant Update
Home REIT and LTG Vision have agreed a surrender on 171 properties. Going forward, Lomond Investment Management will act as property manager for the assets, minimising disruption to the underlying residents.
Publication of Accounts
The Company announces that it now expects to publish historical accounts for the year ended 31 August 2023 in January 2025, with the results for the year ended 31 August 2024 following in the first quarter of 2025.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|
FTI Consulting (Communications Adviser) Dido Laurimore Bryn Woodward Oliver Harrison |
+44 (0)20 3727 1000 |
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website: www.homereituk.com