Register Log-in Investor Type

News

QuotedData’s morning briefing 9 June 2020

Better Capital 2012 warns on Everest/SPOT valuation

In QuotedData’s morning briefing 9 June 2020:

  • Aberdeen Standard Asia Focus has entered into a new two year multicurrency revolving loan facility of £20 million with The Royal Bank of Scotland International Limited (“RBSI”), which replaces the Company’s $25m loan facility with RBSI, which matured on 5 June 2020. £18.2 million of the loan has been drawn down at an all-in rate of 1.042250% and has been used to repay the maturing loan. Up to £1.8 million remains available for drawdown in the future.
  • At the AGM for Starwood European Real Estate Finance, 27% (61.3m shares) were voted against the re-election of Stephen Smith. A further 25.1m shares were withheld from voting on that resolution. The board says it has outlined its succession planning for the phased retirement of directors over the three following years to December 2022 and noted its intention to consider diversity when making the new appointments to the board (which is currently all male).
  • Better Capital 2012 says it has backed the creation of a new business, Everest 2020, with £3.2m. This new business has bought assets fro a pre-packaged administration of Everest Limited (which will be written down in value by a material amount). This protected over 400 jobs and provides for the completion of existing window and conservatory orders. Installation operations restarted last Monday.
  • Tetragon is buying back 2,857,142 shares at $8.75 to fulfill its $25m tender. Almost twice that number of shares was tendered at that price so, if you tendered shares at $8.75 or less, you’ll get 58.57% of your shares bought back.

We also have results from Odyssean, Schroder Real Estate, Big Yellow and McKay Securities

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…