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Social Housing REIT plc announced on 10 March 2025 that the company voluntary arrangement (CVA) proposal of My Space Housing Solutions was approved by a creditor vote on 7 March 2025. The Company's investment manager, Atrato Partners Limited, negotiated an option agreement allowing Social Housing REIT plc to transfer all My Space leases within a 12-month period following the completion of the CVA challenge period.
| Date | 10 Mar 2025 |
| Time | 07:00:11 |
| Category | Corporate updates |
| ID | 9766Z |
10 March 2025
Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the "Group")
MY SPACE HOUSING SOLUTIONS UPDATE
Further to the announcement on 3 February 2025, the Company confirms that the company voluntary arrangement ("CVA") proposal of My Space Housing Solutions ("My Space") was approved by a creditor vote on 7 March 2025.
The Company's investment manager Atrato Partners Limited ("Atrato") successfully negotiated an option agreement (the "Option") with My Space ahead of the CVA process. This Option entered into by the Company enables it to transfer all My Space leases within a 12-month period following the completion of the CVA challenge period.
Atrato is already in advanced discussions with alternative Approved Providers and will confirm details of the proposed transfers in due course. Atrato is also actively working with My Space to ensure there is no disruption to residents during this period.
ENDS
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
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Social Housing REIT plc |
Via Brunswick Group |
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Chris Phillips |
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Atrato Partners Ltd |
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Adrian D'Enrico |
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Michael Carey |
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Eddie Gilbourne |
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Akur Capital (Joint Financial Adviser) |
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Tom Frost |
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Anthony Richardson |
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Siobhan Sergeant |
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Stifel (Joint Financial Adviser and Corporate Broker) |
Tel: 020 7710 7600 |
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Mark Young |
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Rajpal Padam |
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Madison Kominski |
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Brunswick Group (Financial PR Adviser) |
Tel: 020 7404 5959 |
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Nina Coad |
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Robin Wrench |
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Mara James |
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The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website at www.socialhousingreit.com.
NOTES:
The Company primarily invests in newly-developed social housing assets in the UK, with a particular focus on specialised supported housing. These operational residential assets deliver long-term sustainable income and are managed by Approved Providers (being Housing Associations, Local Authorities or other regulated organisations in receipt of direct payment from local government). The portfolio comprises investments into properties which are already subject to a lease with an Approved Provider, as well as forward funding pre-let developments, but does not include any direct or speculative development.
The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 8 August 2017 and was admitted to the Official List of the Financial Conduct Authority and migrated to trading on the Main Market on 27 March 2018. The Company operates as a UK Real Estate Investment Trust ("REIT") and is a constituent of the FTSE EPRA/NAREIT index.