In QuotedData’s other news 11 November –
- Civitas Social Housing (CSH), the real estate investment trust (REIT) dedicated to investing into regulated social housing across the UK, will report half year results for the period ended 30 September 2019 on Monday 2 December 2019.
- Yew Grove REIT (YEW), which owns a diversified portfolio of Irish commercial property assets, announced an agreement to sell one of its non-core industrial properties for €1.1m to an international investor. The price represents an initial yield of 7.6 per cent. after accounting for purchase costs and is expected to be slightly accretive to NAV.
- Macau Property Opportunities Fund (MPO) announced in its annual report published on 7 October 2019 that it was in advanced negotiations with its manager, Sniper Capital Limited, and Estera International Fund Managers (MPO’s administrator), to re-structure fees. It has been this morning been announced that the current on-going management fee shall be reduced from 2% to 1% of the adjusted NAV for the calendar year 2020 and shall reduce to zero for the calendar year 2021.
- Downing Strategic Micro-Cap (DSM) announced the appointment of William Dawkins as an independent non-executive director of the company with effect from 11 November 2019.
- Adamas Finance Asia (ADAM) updated on its Future Metal holding, its largest holding (ADAM holds a 85% shareholding in Future Metal, representing its largest investment by value in the portfolio). ADAM says good progress is ongoing at Future Metal with the management team onsite nearing completion of the necessary works to prepare the quarry to restart production as planned in late 2019, with a test production run scheduled to occur later this month.
Elsewhere, Hg Capital’s (HGT) NAV surpassed £1bn over its third quarter to 30 September 2019.