Merlin Trust Update - June 2020

9th June 2020 - The Chief Executive of the buyer of the care home assets made contact again today. He explained that his expectation is that the end of the “state of alarm” in Spain which limits a number of activities, is scheduled for the 21st June. As soon as this threshold is passed he will seek to activate the transaction process as best he can, and will aim to conclude the purchase ‘before the holidays’. Many of you may be aware that it is customary for the Spanish to take extended holidays in July and August. He goes on to explain that he thinks everything is “going well” but he will have to understand how the gradual emergence from lockdown will affect matters.

We will be seeking a further update during the week commencing the 21st June if we have not had news before this.