Ground Rents Income to propose 'orderly' wind-up and revised continuation vote

Three resolutions

The board of the Ground Rents Income trust has put forward three proposals, including an ‘orderly’ wind-up and revised continuation vote, to prevent a potential immediate wind-up that would put the portfolio for sale at depressed prices.

In December, the company launched a consultation into whether it could be released from the obligation to hold a wind-up vote, which was required to be held before 13 August 2023.  The vote is structured in such a way that if any single shareholder votes for a wind-up, the vote passes. If passed, the board said it would likely result in a "sale of the portfolio at depressed prices", given the fall in capital values and weak sentiment in the ground rent market sector more broadly. Ediston Property Investment Company proposes merger or liquidation However, the board can be released f...