We are writing to let you know that our review of options for the funds is still underway and we are working hard to determine the best possible solution for shareholders. This involves discussions with lawyers, our lender (Barclays), and other relevant parties.

Additionally, while we are still awaiting a public announcement from the Government, we have received further private confirmation that a state aid cap will remain, meaning that the Regional Capitals fund will need to pay for the fire safety remediation works.

We will include a more detailed update on this development and fund performance in the upcoming Quarterly Investor Report.