In QuotedData’s morning briefing 22 September 2020;
- Ground Rents Income Fund says that it notes the announcement published on 4 September 2020 by the Competition and Markets Authority (“CMA”), detailing its enforcement action against four leading housing developers as part of its ongoing investigation in relation to the sale of leasehold homes. The CMA have also confirmed that, at this time in line with their prioritisation principles, it is not taking enforcement action against Ground Rents Income Fund or associated entities, nor the leases for which the company or associated entities is now the freeholder.
- Cambria Africa says that, excluding the potential market value or compensation for Old Mutual Shares (it owns some shares traded on the Zimbabwe stock exchange which it cannot sell or reregister on the Johannesburg stock exchange), the company and its subsidiaries currently hold cash resources of US $1.79m in accounts in the United Kingdom and Mauritius. Cambria Africa reported NAV of $7.17m (1.32 US cents per share) as of 29 February 2020. It expects its NAV to remain at or near these levels. Significant components of the NAV include a $2.5m valuation of Paynet Headquarters and its adjacent plot with main road frontage, and an investment in Radar valued at $1.74m.
- RDL Realisation says that, by the middle of 2021, it hopes to have realised substantially all of its remaining assets and returned the proceeds to shareholders. The board will look to de-list the company’s shares once the remaining assets have been substantively returned to shareholders. The NAV at the end of June was 94p ($1.16) but COVID has created considerable uncertainty about valuations of loans.
We also have results from Bluefield Solar, Standard Life Investments Property Income and Town Centre Securities, an acquisition by Stenprop, and disposals by Tritax Big Box REIT and Apax Global Alpha