In QuotedData’s other news 20 June 2019
- Pershing Square has announced a $100m share buy-back programme – up to 6m shares will be repurchased and the transactions are expected to enhance NAV (in other words they’ll buy back the shares at a discount to NAV). The NAV at 18 June was $24.63 and the share price is $17 at the time of writing.
- Regional REIT has announced that a new GBP66m 10-year facility has been agreed with Santander which refinances the existing GBP44m facility that was due to mature in November 2022. In addition, a new GBP55m 5-year facility has been agreed with the Royal Bank of Scotland which refinances the existing GBP27m facility with Royal Bank of Scotland and the GBP19m facility with HSBC, both of which were due to mature in December 2021. The cost of borrowing, including hedging, will be 3.5%, with an unexpired debt term extended from 6.7 years to 7.9 years. The facilities provide c.GBP31m to pursue acquisitions.
- Merian Chrysalis says that one of the co-managers, Nick Williamson, is taking a short period of leave for family reasons. It is anticipated that he will return, as co-manager, at the end of September 2019. In the interim, the wider investment advisory team will continue to manage the company, with Richard Watts acting as sole portfolio manager.
- RDL Realisation won its vote to wind up its zero dividend preference shares early, facilitating earlier repayments of capital.
We also have results from JPMorgan Japan Smaller Companies and Adamas Finance Asia