- Fidelity European Values (FEV) has delayed changing its name to Fidelity European Trust, which was expected to be completed in time to be effective from 12 May. FEV noted: “The impact of covid-19, and the resultant Government’s stay at home measures, have caused substantial and significant delays as well as disruption to the usual statutory filing process. It is not currently possible to deliver the required documents in person to Companies House for action on the same day, which would provide shareholders and the market appropriate certainty about the date of the company’s name change. It remains the Board’s intention to change the name of the Company to Fidelity European Trust; the board has decided to delay the change until at least 30 September 2020.”
- LondonMetric Property (LMP) successfully completed a placing, raising £120m. The size of the placing was increased from £100m, in response to an “exceptional level of demand received both from existing investors and potential new holders.” LMP says it has an extensive pipeline of acquisition opportunities – it expects to substantially deploy the net proceeds of the placing within three months.
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Hammerson’s (HMSO) £400m deal to sell a portfolio of seven retail parks to Orion European Real Estate Fund V has fallen out of bed. Hammerson will access the £21m deposit, but it is a huge hammer blow to its efforts to fix its balance sheet. Its share price has fallen 5% on the news to 56.8p.
We also have interim results from Aberdeen Latin American Income.