The management of LXB Retail Properties said today in its interim results that it had “unfinished business” and encouraged shareholders to vote against the liquidity of the company at its annual general meeting on 27 May.
The out-of-town retail company has a vote scheduled five years on from its initial public offering to determine whether or not it should sell all of its assets and return cash to investors.
In its result, the company said that “as a direct result of the challenging market in the last few years” the company’s portfolio had not reached a point where it was entirely made up of “high quality rent producing properties” and that “there is unfinished business from which there is still significant potential value to be gained”.
The company’s investment portfolio is valued at £249.3m. During the six-month period to 31 March LXB’s NAV per share rose by 4.1% to 139.9p per share.
