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Schroder Global Real Estate Securities to put forward liquidation proposals

The board of Schroder Global Real Estate Securities has announced that a scheme for liquidating the company is to be put to shareholders for approval. They say that it is expected that the proposals will offer an opportunity for shareholders to retain their exposure to the same asset class through one or more open-ended vehicles managed by Schroder Real Estate Investment Management Limited or to opt for a cash exit.

The board say that, whilst the company has performed well since the appointment of Schroder Real Estate Investment Management Limited as the Company’s manager and the adoption of a new investment strategy in September 2014, there has been difficulty in attracting demand for the company (the board says that the company is perceived to lack sufficient critical mass, which has impacted upon liquidity in the Company’s shares and the discount at which they trade). The directors say that, notwithstanding extensive marketing efforts, they have concluded that their aspirations to grow the Company are not realisable in current market conditions (the market cap is in the region of £60m).

The board say that a circular will be published in the new year giving details of the proposed scheme including the proposed roll-over vehicle or vehicles and convening a general meeting at which shareholders will be able to vote on the proposals.

Schroder Global Real Estate Securities to put forward liquidation proposals : SGRE

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