QuotedData’s morning briefing 1 May 2020

So far, it’s been a very quiet day for news.

  • Princess Private Equity has provided a covid-19 update. The key takeaway is that, given current uncertainty, it is cutting its dividend by half for FY2020 to €0.29 per share (FY2019: €0.58 per share).
  • Intu has appointed David Hargrave, as “chief restructuring officer”. He will also be joining the struggling retail property company’s board. David has 20 years of experience as a partner in the restructuring practices of both PwC and EY, specialising in business turnarounds across many sectors. The company has also provided a new covid-19 update – it has now collected 40% of its first quarter rent.
  • Oakley Capital Investments has announced details of its forthcoming AGM. This is to be held at 3rd Floor, Mintflower Place, 8 Par-la-Ville Road, Hamilton HM08, Bermuda on 26 May 2020 at 11:00 a.m. (Bermuda time). The company hasn’t announced any covid-19 related restrictions, but we suspect that traditionally it has not been that well attended.
  • CQS New City High Yield Fund has raised the limit for the investment in a single investee company from 5% of total investments, at the time of investment, to 7.5%. This is also limited to no more than 3 investee companies with a maximum investment limit of 5% thereafter. In addition, there is a maximum investment limit whereby, at the time of investment, the company may not invest more than 5% of its total investments in any one security. The aim of the change is to give the investment manager greater flexibility in managing the portfolio.

We also have commentary on Schroder UK Public Private Trust’s annual results for the year ended 31 December 2019 – the chairman, Susan Searle, describes them as ‘disappointing’.


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