Home Reit (who provides accommodation to Lotus) issued a statement to the stock mkt today. An extract follows:
“L was founded in 2018 and provides over 2,000 beds in aggregate to house vulnerable people. As at 31 August 2022, L represented 12.2% of the Company’s overall rent roll, providing 939 beds predominantly to vulnerable women. As at 31 December 2022, the Company’s properties let to L were 55% occupied (by beds), inclusive of properties undergoing refurbishment.
As previously announced, all rent due to 31 August 2022 has been paid, with final payments for the August quarter received in October 2022. The Company confirms that L has not paid any rent for the quarter to 30 November 2022. Historically, rent payments have been made between two weeks to two months post invoice date”.
