Real Estate Investors PLC - Midlands, UK-focused real estate investment trust - Says high level of demand for assets seen in 2021 continues into first half of 2022. Completes further £5.7 million of disposals, totalling 11 assets, in first half, at an aggregate uplift of 28% versus December 31 valuations.

Total sales for 2021 and 2022 to date total £23.2 million, with further sales in legals of about £10 million.

Notes it made no acquisitions in the first half of 2022.

Says contracted rental income £14 million per annum with portfolio occupancy at 85.9%.

‘We remain focused on delivering maximum value to our shareholders and the board believes the share price discount to the net tangible assets is unwarranted and that it is in the best interests of all shareholders to take steps to reduce this discount,’ it adds.

Considering special dividend or share buyback if share price discount to NTA persists, but notes the structure and timing of which is yet to be decided.

Current stock price: 36.96 pence, up 7.1% on Wednesday

12-month change: down 6.4%

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