The company is keen to grow its shareholder base, as it believes that the discount of the share price to the net asset value per share is unlikely to narrow while a large proportion of the real estate investment trust’s (REIT) shares are owned by committed long-term holders.
According to Walls & Futures, roughly 10% of the shares are owned by people who are not deemed to be committed long-term holders so management is actively working to engage with new individual and institutional investors.
“We believe our genuinely ethical and impactful approach to investment as highlighted in our ethical investment policy and commitment to net-zero carbon assets makes us an attractive proposition for investors,” the REIT said in a trading update.
The company had hoped to announce the completion of a new development in Newcastle, which would have been a specialist children’s home; however, due to unforeseen circumstances it is not progressing as the seller of the property has withdrawn from the sale.
On the plus side, the company has completed the design stage of its Autism-friendly housing solution. The aim is to provide a peaceful, calm and safe environment that supports the need of individuals across the autism spectrum.
The solution is designed from the ground up to be built off-site using modern methods which will enable us to offer a higher quality home, faster delivery and help us meet our net-zero carbon commitment, Walls & Futures said.