In QuotedData’s morning briefing 26 March 2021:
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The board of Octopus Renewables Infrastructure Trust (ORIT) says that it notes today’s press release by Octopus Energy Group regarding its proposed acquisition of Octopus Renewables (ORIT’s investment manager). ORIT’s Board says that it has been in active discussions with Octopus in relation to this transaction and notes that there will be no change to Octopus Renewables’ leadership or people, and specifically, ORIT’s investment management team will remain the same and service levels will be uninterrupted by the transaction.
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BH Global has announced the results of its EGM, which considered proposals to amend the Company’s management fee arrangements in conjunction with an undertaking by the Board to facilitate an exit for those shareholders who do not wish to remain invested in the Company on the new fee basis.65.56% of votes were cast in favour, 33.87% voted against the proposals and 0.57% were withheld. The Board says that it notes that while the resolution was passed with a substantial majority, a meaningful minority of shareholders was opposed to the Proposal. The Board interprets such opposition as being founded largely on a principle of objecting to fee increases and says it will be engaging with those investors to seek to address any specific points which they might now raise. The new management fee arrangements will apply from 1 July 2021.
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Chrysalis Investments has announced that it has successfully raised gross proceeds of £300 million from the Initial Issue under its Placing Programme. The Board increased the size of the Initial Issue from £240 million reflecting both investment demand and the company’s near-term pipeline. The company says that the issue was well supported by both existing Shareholders and new investors.
We also have annual results from India Capital Growth (changes to its investment management process were rewarded in the second half of 2020); BMO Private Equity Trust’s annual results, Syncona cornerstoning a financing for Gyroscope Therapeutics; and Digital 9 Infrastructure’s IPO, which raised £300m.