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QuotedData’s morning briefing 24 June 2020

  • SDCL Energy Efficiency Income (SEIT) announced that after seeing the strong support given to the initial issue of new ordinary shares, announced on 18 June, the issue size has been increased from £60m to £110m.
  • Augmentum Fintech (AUGM) announced that portfolio company, Zopa, has been awarded its full banking licence by the Prudential Regulatory Authority. Zopa Bank will sit alongside its existing peer to peer business (Zopa Limited), as part of the overall Zopa Group.
  • Merchants Trust (MRCH) declared its first dividend, for the year-ending 31 January 2021.  The interim dividend of 6.8p per share, represents an increase of 1.5%, on the first dividend paid last year. MRCH said that it is has dipped into its revenue reserves – it has more than one year total dividend payment in reserve.
  • RM Secured Direct Lending’s (RMDL) manager, RM Funds, provided an update on its £7m senior secured loan to énergie Fitness (énergie), one of the leading low-cost fitness franchisors in the UK and Ireland.  Through the pandemic, énergie’s executive management team and its sponsor have been in negotiations regarding the need for additional working capital to support the business. RMDL has announced its support for a management-led buyout of énergie, led by founder Jan Spaticchia. Jay was responsible for its nationwide growth since founding the company in 2003, opening 105 clubs, and 85 franchisees with 143,000 members, until the sale of the business in 2019.

We also have annual results and an update on the impact of Covid-19, from HarbourVest Global Private Equity.

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