Real Estate Investors plc’s (REI) two top executives have given the company’s controlled programme of asset disposals a huge vote of confidence with the further purchase of REI shares.
Chief executive Paul Bassi has purchased a further 595,965 shares and finance director Marcus Daly has acquired 250,000 more shares at a price per share of 32.25p. Paul Bassi now holds 10.87% of the issued share capital and Marcus Daly, 2.8%.
In January 2024, REI announced a strategic plan to dispose of assets and maximise returns to shareholders over a three year timescale.
REI is actively marketing £61.5 million of predominantly retail mixed-use assets, where market demand has improved, and the remaining portfolio of £47.2 million is scheduled for sale in 2026 on completion of ongoing asset management initiatives and improving market conditions.
Mr Bassi said: “Continuing global and economic uncertainty has not made life easier, but we have remained disciplined in the execution of our orderly sales programme, completing and contracting disposals totalling £18.9 million in 2024 and £8 million in 2025, while continuing to pay a covered dividend throughout the sales process.”
Dividends declared and paid since the commencement of the company’s dividend policy in 2012 now total £56.7 million.
Mr Bassi added: “It remains to be seen how events, both in the Middle East and politically here in the UK, play out, but we remain focused and we remain open to all options that align with the best interests of shareholders, including the sale of the entire portfolio.”
