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QuotedData’s morning briefing 27 January 2021

In QuotedData’s morning briefing 27 January 2021 –

  • Henderson Smaller Companies (HSL) delivered total NAV and share price returns of 20.6% and 27.7% over its six-months interim results period to 30 November 2020. HSL said that its NAV performance was 6.3% ahead of the average of our peers in the AIC UK smaller companies sector.
  • 3i Infrastructure (3IN) said that it was on track to meet its dividend target for the year ending 31 March 2021 of 9.8 pence per share, which would represent a year-on-year increase of 6.5%.
  • Schroder UK Public Private (SUPP) signed a sale and purchase agreement for the sale of a basket of seven assets to Rosetta Capital VI, an investment fund managed by the UK-based life science venture capital firm Rosetta Capital, for a total acquisition price of £49.0m. The sale portfolio consists of SUPP’s entire holdings in Carrick Therapeutics, Mission Therapeutics, PsiOxus Therapeutics and Mereo BioPharma and partial holdings in Inivata, Immunocore and ReNeuron. The agreed acquisition price represents a discount of 22 per cent to the aggregate valuation for those holdings reflected in the Q3 2020 NAV, as of 30 September 2020.
  • The board of CIP Merchant Capital (CIP), part of the flexible investment sector, noted the announcement made yesterday by Corporation Financière Européenne S.A. (CFE), on behalf of funds or vehicles which are managed or advised by it, stating that it is considering a possible all-cash offer for CIP at a price of 50p per ordinary share. CIP’s board confirmed that CFE made an initial approach to the company in a letter dated 28 September 2020, and a subsequent approach on 2 December 2020, in relation to the possible offer. CIP says its board unequivocally rejected the possible offer on both occasions.
  • LondonMetric has acquired two urban logistics assets – one in London and one in Redditch – for a combined £13.2m. The London unit is let to Ford as a service and parts centre and was bought for £7.7m. The Redditch asset is newly developed and let to Heartbeat Manufacturing. It was acquired for £5.5m.

We also have annual results from KKV Secured Loan and JPMorgan Russian, a refinancing update from Octopus Renewables Infrastructure, updates from BMO Real Estate Investments, Warehouse REIT and Real Estate Investors.

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