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QuotedData’s other news 2 August 2019

In QuotedData’s other news 2 August 2019

  • Capital and Regional has provided a trading update for the first half of 2019, ahead of its half-year results, which will follow on 11 September. The company says that it is seeing continued evidence that its community strategy is working; strong leasing momentum with new lettings undertaken at a premium to previous rent and continued footfall outperformance.
  • Fidelity European Values has announced its interim results for the six months ended 30 June 2019. The statement provides the following highlights:
    • The Board is recommending an interim dividend of 2.59 pence per share.
    • An NAV total return of +19.9% for the six months ended 30 June 2019, outperforming its Benchmark Index which returned +17.5%.
    • The discount to NAV narrowed from 10.7% to 7.5%, due to a share price total return of +24.5%.
    • Energy and technology sectors were stand-out performers.
  • Rights & Issues has announced its interim results for the six months ended 30 June 2019. The Trust made modest progress with its NAV increasing by 3.3% to 2188.7p. However, the statement highlights that this is less than small caps, which it says rose by 4.3%, although it also says that fledgling companies fell by 4.3%. The share buy-back programme has continued in the half year with a further £3.1m of purchases and the issued equity has now been reduced by 13% since December 2016. The interim dividend is being raised by 2.4% to 10.75p.
  • Millennium and Copthorne Hotels has announced its interim results for the year ended 30 June 2019. The key development, during the period, was the receipt of a recommended cash offer for the company.
  • ScotGems announced its interim results for the six months ended 30 June 2019. The company, which IPO’d on 26 June 2017, says that was 87.1% invested in equities at 30 June 2019. During the period, ITS NAV rose by 3.9% to 96.69p per share, while the share price fell by 7.0% to 86.00p.
  • Pacific Horizon (PHI) has announced that its performance based tender offer has not been triggered. A 25% tender would have been triggered if, over the three-year period to 31 July 2019, PHI’s net asset value total return (calculated at fair value on a cum-income basis) failed to exceed the Company’s comparative index (the MSCI All Country Asia ex Japan Index (in sterling terms)) by at least 1 per cent. per annum. However, PHI outperformed the index by 3.1% on an annualised basis. PHI’s next Continuation is due at its 2021 AGM.

In addition, we have annual results for UK small cap trusts, The Diverse Income Trust and Henderson Smaller Companies. We also detail Augmentum Fintech’s £5m investment in Habito.


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