Merlin Trust Update

As you will no doubt understand, the Covid-19 pandemic has developed since the last communication on 24th February 2020. In that communication it was indicated that the buyers of the care home assets expected to proceed to final settlement to the Trust and complete the purchase in around 2 months (which would have been the end of April 2020). The Trust remains in constant communication with the purchaser and as a care home owner and operator, the purchasers are, at this time, continuing to focus their efforts to ensure that the very best care and protection can be given to their residents at this difficult time. The commercial terms for the purchase of the care homes with the purchaser remain in place and are unchanged but at this time the effect of Covid-19 will inevitably delay any non-essential commercial transactions whilst the pandemic is contained.