The board of Balanced Commercial Property Trust Ltd. (LSE:BCPT) announced that it is undertaking a strategic review to consider the future of the Company and will further explore all of the various strategic options available to enhance value for shareholders. This includes a sale but the Company is not in discussions with any potential offeror at the time of this announcement. The Company's articles of incorporation require that the Company hold a continuation vote in 2024 (the ?Continuation Vote?).

The Board has been carefully considering for some time, with its advisers, its strategic options to enhance value for its shareholders. As a result of these deliberations, the Board has determined that it would be in the best interests of shareholders as a whole that it formalise these deliberations into a strategic review process (the ?Strategic Review?), which will take into account the views of all shareholders. The outcome of the Strategic Review is expected to be announced in the third quarter of 2024, and thereafter the Continuation Vote would also be held.

As part of the Strategic Review, the Board will consider all options including, but not limited to, continuing the Company with further actions to narrow the discount; selling the Company's portfolio or subsidiaries (or portion thereof); returning capital to shareholders; changing the Company's investment strategy and/or management arrangements; commencing a managed wind down; selling the entire issued share capital of the Company (which would be conducted under the framework of a ?formal sale process? in accordance with the City Code on Takeovers and Mergers (the ?Code?)) or undertaking some other form of consolidation, combination, merger or comparable corporate action. Next Steps: The Board looks forward to updating shareholders on the progress of the Strategic Review and will make further announcements in due course, noting that there is currently no certainty as to the outcome of the Strategic Review.

Paul Marcuse, Chairman of BCPT, said: ?Following a very challenging period for REITs during the Covid-19 pandemic and subsequent economic and geopolitical events, BCPT has been repositioning the portfolio away from less attractive sectors and realising cash to facilitate strategic options for the Company. We believe our monthly dividend offers an attractive level of regular income to shareholders. We recognise, however, despite recent improvements in the Company's share rating, the share price remains at a material discount to the Company's net asset value.

In line with our commitment to do the right thing for our shareholders as a whole, we have commenced this Strategic Review to determine the best way to enhance value for shareholders, after which the independent Board will determine the best way forward. We welcome the views of all of our shareholders during this consultation period and will carefully take those opinions into consideration before announcing our next steps. The Company will continue to explore all options available to enhance value for its shareholders?.