In QuotedData’s other news 26 February 2020 –
- Foresight Solar (FSFL) said that following an internal restructuring at Foresight Group, Foresight Group LLP has replaced Foresight Group CI as investment manager to FSFL. The material terms and fees contained in the new management agreement are the same as in the previous agreement with Foresight CI while FSFL says the team members providing management services to the company will not change as a result of this restructuring.
- The flexible investment company, UIL (UTL), said has extended its £50m committed senior secured multicurrency revolving facility with Scotiabank Europe plc until 30 September 2022.
- AEW UK REIT (AEWU) said it had successfully raised gross proceeds of £7m through a placing, which expires on 28 February 2020.
- Student accommodation specialist Unite Group posted an 8% rise in net asset value (NAV) in its full year results for 2019. NAV came in at 853p per share, from 790p in 2018, while earning per share increased 15% to 39.1p. The £1.4bn acquisition of Liberty Living meant pre-tax loss of £101.2m, however, profit excluding costs due to the deal came in 24% higher at £305.3m.
- Capital & Counties posted a 10% fall in NAV in full year results following a 1.7% fall in the value of its London portfolio of property. The group, which owns property in and around Covent Garden in London’s West End, was upbeat on its future however, following the sale of its Earls Court development last year.
- Town Centre Securities reported a 3.2% fall in NAV for the six months to the end of December 2019 to 343p. The property investor and developer, which owns a diverse portfolio in the UK, saw earnings per share increase to 7.7p and paid a dividend of 3.25p.
We also have a portfolio update from HICL Infrastructure, Hipgnosis Songs applying for a USD quote to augment its sterling listing and interim results from Gulf Investment Fund.