Balanced Commercial Property discloses interest after launching review

(Alliance News) - Balanced Commercial Property Trust Ltd on Wednesday said it has received ...

Alliance News 12 June, 2024 | 8:32AM
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(Alliance News) - Balanced Commercial Property Trust Ltd on Wednesday said it has received interest from third parties since launching its strategic review in April.

But the company said there was no certainty any proposal will be "sufficiently attractive" to merit a board recommendation.

Balanced Commercial Property Trust, formerly BMO Commercial Property Trust, invests in UK commercial properties.

Shares in the company were up 1.0% to 75.21 pence in London on Wednesday.

In April, the trust said it had started a strategic review process in order to consider the future of the company and explore all strategic options available to enhance value for shareholders.

Since then it has undertaken an open consultation process with a significant proportion of shareholders to hear their priorities for their investment in the company.

Balanced Commercial Property Trust on Wednesday said it has received interest from a number of "credible" third parties who are currently reviewing information that has been provided to them.

But the firm stressed there can be no certainty that any proposal will be good enough for the board to support.

The company continues to pursue "actively such third-party interest, alongside considering other options such as a managed wind down, as part of the strategic review," it said.

Balanced Commercial Property Trust said it will use the annual general meeting on June 20 as an additional opportunity to hear shareholders' views.

By Jeremy Cutler, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Balanced Commercial Property Ord 84.00 GBX 0.60 -

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