PRS Reit launches review, could put itself up for sale

23rd Oct 2024 13:51

(Sharecast News) - PRS Reit said on Wednesday that it was launching a strategic review that could lead to it putting itself up for sale as it looks to enhance value for shareholders.

The news comes a month after the company settled an attempted boardroom coup which arose when a group of major shareholders called for the removal of board chair Stephen Smith and non-executive director Steffan Francis.

The real estate investment trust said: "Further to the announcement on 13 September 2024, the board has received feedback from a number of shareholders regarding the options available to the company to maximise value for shareholders.

"Following such feedback, the board wishes to explore these options in a coordinated fashion alongside engaging with a range of potentially interested parties."

PRS said it was not currently in talks with or in receipt of an approach from any potential offeror.

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