PRS REIT Plc (GB:PRSR) has released an update.
PRS REIT Plc faces a board shakeup as a group of shareholders holding approximately 17.3% of the company’s issued share capital request a General Meeting to replace two board directors, amidst concerns over the company’s share price performance and discount to net asset value (NAV). The company has established a sub-committee to engage with shareholders and seek resolution, stressing the costs and potential disruption of such a board change. Despite market challenges, PRS REIT highlights its successful establishment of the UK’s largest build-to-rent single-family home portfolio, strong occupancy and rent collection rates, and a total return of 55.4% since its IPO.
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