UK - AIM-listed real estate company London & Stamford Property (LSP) is seeking to convert to a real estate investment trust (REIT) and bring its external management team in-house.
The opportunistic investor is asking for investor consent to switch to the London Stock Exchange so it can convert to a tax-efficient REIT status.
LSP's board said the long-term future of the business would be better served by the move, which would also entail the acquisition of LSI Management for £55m (€66.1m).
LSP needs approval from 75% of its shareholders to implement the changes.
Raymond Mould, non-executive chairman at LSP, said: "Converting to a REIT, moving to the Official List and internalising management is the best way forward for shareholders.
"We are pleased to be announcing these proposals, which will enable us to enhance shareholder returns as we continue to grow the business and take advantage of the significant opportunities we see to deploy LSP's capital at attractive long-term cash yields."
LSP was established in late 2007 to make opportunistic investments in the UK real estate market.
It has made a number of high-profile acquisitions since then, including a recent joint venture with Anglesea Capital to buy an industrial portfolio from Warner Estate Holdings worth more than £200m.
In February 2009, it acquired Meadowhall shopping centre in Sheffield, worth £1.18bn, through another joint venture, this time with the Abu Dhabi Investment Corporation.
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