PRS REIT Receives Possible Offer from Long Harbour
Why we think this is neutral
The RNS announcement is regarding a possible offer for PRS REIT, which does not provide any specific financial or operational updates. As such, the sentiment is neutral as the outcome of the potential offer is still uncertain.
Key Points
- PRS REIT has received a non-binding proposal from Long Harbour Ltd regarding a possible offer
- Shareholders would be entitled to receive 115 pence per PRS REIT share in cash under the Possible Offer
- Discussions with Long Harbour are ongoing, and the Board expects to provide a further update by the end of June 2025
- There is no certainty that an offer will be made, nor as to the terms of any offer if made
Summary
PRS REIT has received a non-binding proposal from Long Harbour Ltd regarding a possible offer for the entire issued and to be issued share capital of the company. Under the terms of the Possible Offer, shareholders would be entitled to receive 115 pence per PRS REIT share in cash. Discussions with Long Harbour are ongoing, and the Board of PRS REIT expects to provide a further update on the Formal Sale Process by the end of June 2025. There can be no certainty that an offer will be made, nor as to the terms of any offer if made.