In QuotedData’s other news 3 March 2020:
- AEW UK Long Lease REIT has changed its name to Alternative Income REIT
- Gresham House Energy Storage managed to raise £31m, despite the ongoing market volatility. It will issue 30m shares at 104p each.
- The dispute between Pollen Street Secured Lending and its manager, Pollen Street Capital rumbles on. Stablemate, Honeycomb issued a statement in support of the manager. “The team at Pollen Street has managed Honeycomb since the company’s inception in December 2015. Throughout the whole of that period my experience is that the team has acted at all times with absolute integrity, and good governance. Pollen Street’s interaction with the Board has been transparent and collaborative and they, like us, have always been focused on managing the Company in the best interests of its shareholders. We are very disappointed that the recent PSSL events have been presented in a way which implies that Pollen Street is in some way lacking in any of these qualities. I find some of the accusations very hard to believe, as they do not at all reflect the Honeycomb Board’s relationship with or experience in dealing with Pollen Street.” Pollen Street Capital issued a long rebuttal of the board’s claims including “PSC strongly refutes the allegation that PSC has made ‘serious, repeated and ongoing breaches’ of the IMA… and has received legal advice accordingly.” The board responded, saying it was focused on securing the Waterfall bid. We still think the important thing is that the bid is a bit on the low side.
We also have results from RIT Capital Partners and Apax Global Alpha. Plus an update from Vietnam Holding on the effect of the coronavirus on Vietnam.