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Drum Income Plus REIT mulls asset sales amid strategic review
StockMarketWire.com
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Drum Income Plus REIT said it was considering its future, including the sale of assets, citing a lack of liquidity and the ongoing challenges owing to the pandemic.
Despite the recent optimism regarding the relaxation of lock down later this year, the company sees no short or medium term prospects that the spur organic growth, the company said.
'Since the company's launch in 2015, the group has failed to reach a scale that makes its shares attractive to a wider group of investors,' the company said.
'This has created challenges in generating any meaningful liquidity in the shares and they continue to trade at a significant discount to their net asset value,' it added. Since the beginning of the COVID pandemic, in excess of 90% of the rent due has been collected.
Story provided by StockMarketWire.com
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