Register Log-in Investor Type

Duke Royalty getting closer to first transactions

Duke Royalty has published results for the year ended 31 March 2016. Over the financial year, Duke Royalty generated a loss after taxation of GBP4.0 million, comprised of GBP1.1 million of cash items and GBP2.9 million of non-cash items (primarily reflecting losses on disposals of investment interests from the previous investment strategy). At the year end the net assets attributable to the ordinary shareholders were GBP2,070,315 (2015: GBP3,136,344) and the net asset value per Ordinary Share was 27 pence (2015: 137 pence). Prior year net asset value per Ordinary Share has been adjusted to reflect the share consolidation on 16 June 2015.

In June 2015, shareholders voted to change the company’s investment policy to become the first UK quoted diversified royalty investment company, at which time the company changed its name to Duke Royalty Limited  and appointed a new Board of Directors. In May and September 2015, the company closed two rounds of equity funding securing GBP2.45m of new capital and in January 2016 appointed Peel Hunt LLP as its Nomad and Broker.

During the period under review, Duke actively progressed its royalty pipeline. The company says it is currently evaluating six late stage royalty opportunities with an aggregate value of approximately GBP70 million, all of which are private businesses with strong positive cash flow characteristics.  Duke’s overall royalty pipeline has also been significantly expanded to date, with over 25 royalty opportunities under varying stages of investigation having an aggregate value of approximately GBP450 million.

Duke Royalty is also currently considering all options to raise additional capital, either in the form of equity or debt, to execute its investing policy and acquire a portfolio of long term, stable, and diversified royalty streams.

DUKE : Duke Royalty getting closer to first transactions

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…