Home REIT puts wind-down to vote

Home REIT is putting its proposed wind-down to a shareholder vote. The troubled investment firm said last month that having been unable to refinance its existing debt with Scottish Widows, a managed wind-down and sell-off of assets was in the best interests of shareholders.  Today the company has published a circular with details of proposed changes to its investment policy that would effectively implement a managed wind-down. A general meeting will be held at 8 Bishopsgate on 16 September. Chairman Michael O’Donnell said in an accompanying letter that JLL and Allsop will manage the disposals. “The most appropriate timing and mechanism to make any returns of capital to shareholders will be determined in due course,” O’Donnell said. “It is expected that the company will eventually be placed into liquidation, and its listing cancelled, when the managed wind-down is complete and capital has been returned to shareholders, although… the timing of the company entering liquidation, and its proposed delisting, are, at present, uncertain.”