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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Home Reit Plc | HOME | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 38.05 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 38.05 | 38.05 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Top Posts |
|---|
Posted at 18/4/2024 07:11 by spectoacc The first part is in belly laugh territory:"The letter of claim alleges that the Company, along with certain other parties, provided information to investors which was false, untrue and/or misleading. The Company intends vigorously to defend itself in respect of the threatened litigation and has denied the allegations made against it. Further, as announced on 5 March 2024, the Company intends to bring legal proceedings against those parties it considers are responsible for wrongdoing. To that end, the Company has itself recently issued pre-action letters of claim to Alvarium Fund Managers (UK) Limited (its former alternative investment fund manager) and AlTi RE Limited, its former investment adviser's appointed representative. The Company intends to issue further pre-action correspondence in due course." |
Posted at 25/3/2024 06:47 by spectoacc "The regulator is probing whether the fund managers then misled the market and investors over the financial stability of the firm and its tenants."Very slowly indeed. I've now bought 5 former HOME properties from Allsop auctions, and not a single one has completed yet after months. Makes me question their RNS's. |
Posted at 06/2/2024 15:36 by spectoacc That the CIC/charities could be a web of alleged fraud/fraudsters won't turn out to be a surprise :)Still can't get over how all this all happened in plain sight, yet insts continued to pour investors' cash into HOME. In M&G's case, even after the allegations had been made. |
Posted at 26/1/2024 19:14 by spectoacc Revisiting this little gem, ought to do more of this. Lucidlips9 being IMO @wallywoo:"Lucidlips9 Jun '23 - 08:14 - 1080 of 1335 That’s been an amusing start to my morning! @wallywoo can speak for himself…&hell SpectoAcc9 Jun '23 - 08:23 - 1081 of 1335 Your 3rd ever post, this was the first, all on HOME. There aren't two people this daft: "Lucidlips - 07 Feb 2023 - 07:57:55 - 805 of 1081 In complete agreement with Wallywoo. Huge amount of tenant posturing going on currently. Every expectation that this will relist, using even back of bus ticket estimates, at in excess of 50p. There are some fundamental cornerstones of strength here. For sure, some financial crack monitoring has been deemed necessary, but this fund is underpinned by some comfortably robust principles - meanwhile one receives 14+% returns for the superficial discomfort." Would hardly know where to begin with the actual @wallywoo's posts. The next Allsops catalogue out - you'd be hard-pressed to find non-HOME sales in it - more Peterlees: What was the average valuation by Knight Frank, £85k? Of course, those only Guides - here's this week's Peterlee achieved sales. Out of interest, and I'm sure AEW are on a cracking deal, but it's c.£2,450+VAT minimum per lot to sell at Allsops, plus preparing legal packs, legals on sale etc: Stakeholders. Edit - Retailgains12 posts well worth revisiting too, eg #394. Another new handle with all of 6 posts, all on HOME. I'd suggest anyone mildly ramped into HOME pre-suspension consider that they've probably fallen for the fallacious arguments of the same poster. |
Posted at 18/1/2024 07:07 by spectoacc Oh I bet you do Lynne. I bet you do."Lynne Fennah said: "I recognise and share investors' frustration at the events which have unfolded over the last 14 months and the deterioration in the performance of the Company." |
Posted at 21/12/2023 14:11 by cousinit What more could you ask of the FCA? I'm sure the KID detailed all the risks clearly for retail investors... |
Posted at 20/12/2023 09:18 by catabrit The scale of gross incompetence and misconduct here baffles me. And I just love that the whole short thesis was laid out in investors chronicle. Amazing. |
Posted at 20/12/2023 07:47 by flyer61 Was offered Oriel Crescent Scarborough post auction yesterday. The capEx required to sort it out will run to 10's of thousands. All professional investors in the area had given it a good looking over and what seems a bargain price is actually a heap of trouble.Going to take years for HOME to get sorted....plenty of time for all 'advisors' to clean up and the board to scamper at a convenient time. |
Posted at 11/11/2023 07:43 by wallywoo I am confused. If the loans were in default, HOME would have a legal responsibility to inform shareholders. I believe you are trying to generate pi anger at this company. Much more likely is that a plan has been set out to reduce the loan amount to an agreed level and to carry on with a long term debt. Home have plenty of cash to pay interest in the meantime.Also, you seem obsessed with legal action here. It is my firm belief that you are an "ambulance chaser" for this legal firm. Please enlighten us on this BB. If zero (none) of the funds and institutions have joined your legal action (who own around 80% of Home shares), why should any private investors?? It is my firm belief that you are just trying to drum up investor anger here, so that your law firm will prosper. If 80% of professional investors think that is unlikely to maximise their investment here. Why should the rest of us??? I still believe Home will relist with 1500 to 2000 4/5 bedroom houses in rent with a lower debt (to a mix of homeless and other tenants). To me that looks the best way to stabilise this company and to achieve around 50p share target. We all know that there's huge demand for rental accommodation in the UK, which will only increase. Legal action will just make lawyers rich and I believe shareholders would get very little. It would just line the pockets of lots of paper pushers!! Progress is being made with both rental income and housing sales. We need to wait for that process to complete. |
Posted at 07/12/2022 12:35 by bondholder Home REIT has come under more fire today, as law firm Harcus Parker launches a litigation claim alleging that shareholders were misled by information they were provided by the company and its associates.The collective action is seeking compensation for retail investors "in relation to significant losses on their investments".Harcus Parker claims that while Home REIT, which has seen its share price fall 60% in the year to date, says that it has an investment strategy to "exclusively tackle homelessness", its research has found the company "has used investors' money in a way which runs contrary to what investors were told".On its website, the law firms states: "[investors] were told that their money would be used for high-quality homeless accommodation, but instead it seems that at least some of that money has been used to fund accommodation for people who are not in vulnerable situations."It goes on to say: "We have discovered that properties owned by Home REIT have been found by local authorities to be unsuitable for housing vulnerable individuals, or are being advertised for students and professionals, and even as holiday lets. In addition, we have found evidence that the company has been overpaying for property, allowing substantial profits to be made by those who are selling property to the company. In these instances, investors' cash is not being used to address the issues of the undersupply of housing and underfunding which are contributing to homelessness and is being diverted away from the cause it was intended to serve."The law firm has instructed barrister Sebastian Isaac KC to prepare the claim on behalf of investors. It intends to argue that investors paid more for their shares than they were actually worth, and that Home REIT has not invested the proceeds from its initial public offering (IPO) in 2020 and additional fundraising earlier this year in accordance with its stated investment objective and policy.The action will also argue that the company's business model and the security of its income stream are in practice materially different from what investors were told about them, and that, because of this, its property portfolio is significantly overvalued. |
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