Home REIT: Time to change the Board

The Boatman Capital has raised a number of issues around governance failures and accounting irregularities that we believe make the position of the chairwoman and of the audit chair of Home REIT Plc untenable.

We are also concerned that the board has been over-optimistic in its financial assumptions and that the value of the company’s property portfolio may, as a result, be significantly inflated. Our own estimates suggest that a typical property could be 39-51% lower in value.

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