Southey Capital has made an unexpected third-party offer to buy out Home REIT shareholders, as the embattled trust continues its wind-down strategy.
The specialist investor in liquidations and illiquid securities has voluntarily offered to buy shares at 4p each, but said it reserved the right to not purchase any holdings with aggregate settlement amounts of less than 100,000 shares. Southey Capital said the tender will "provide an opportunity to holders facing a lack of access to exchanges or OTC counterparties an opportunity to realise liquidity before a potential full de-listing or blocking of transfers in electronic format". However, the board of Home REIT said it could not confirm the authenticity of the offer as it had not be...
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