UK: The PRS REIT plc has announced the appointment of Requisitioning Shareholders Christopher Mills and Robert Naylor as non-executive directors to its board.
The new roles took effect on October 8th. Both men will be proposed for election at the company’s forthcoming AGM.
Naylor, former Hipgnosis Songs and Round Hill Music chair; and Mills, majority shareholder of Harwood Capital Management; have been appointed in response to a group of shareholders, which own nearly 20 per cent of PRS REIT, calling for the removal of chair Stephen Smith and a strategic review of the business.
The company, which owns more than 5,000 BTR homes across the UK, is investing more than £1 billionn in a portfolio of new homes across the regions, having raised a total of £0.56 billion (gross) through its Initial Public Offering on 31 May 2017, and subsequent fund raisings in February 2018 and September 2021.
With 5,425 new rental homes as at 30 September 2024, announced in its trading update to June 2024 and its first quarter update, The PRS REIT portfolio is the largest SFR portfolio in the UK.
