PRS Reit (The) moved a step closer to winding down on Thursday, after publishing a circular outlining plans for a members’ voluntary liquidation, following shareholder approval last month for the sale of its holding company.
The FTSE 250 company’s board said completion of the sale of PRS HoldCo was expected on or around 11 December, after which it would seek investor consent to liquidate the company.
A general meeting would be held on 5 January at Dentons’ London offices, where a special resolution requiring approval from at least 75% of votes cast would be put to shareholders.
If approved, shareholders stood to receive distributions broadly in line with the company’s adjusted net assets of 114.9p per share.
The board said it expected…