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QuotedData’s morning briefing 9 April 2021

In QuotedData’s morning briefing 9 April 2021:

  • Schroder UK Public Private says it has completed the sale of its shares in Kymab to Sanofi for approximately US$82m. There may be additional contingent payments of up to US$33m, subject to a deferred purchase price release and Kymab achieving certain development and regulatory milestones.
  • Hibernia REIT says that it will become a net zero carbon and climate resilient business by 2030. That means that it will aim to reduce overall carbon emissions by 30% and operational carbon emissions by 40% by 2030, against a 2019 baseline.
  • Gresham House Strategic won’t publish results for the year ended 31 March 2021 until June but has published an update noting that its NAV return was 44% for the year, well-ahead of the All-Share but behind the Small Cap Index. The dividend has been upped by 20%. A narrowing discount gave shareholders a return of 59% – shareholders have now doubled their money over five years. Laurence Hulse, who joined Gresham House Asset Management in 2015 is being named deputy fund manager to support Richard Staveley. A recent significant investment in M&C Saatchi has already yielded a return of 66%.
  • Riverstone Credit Opportunities says Pursuit Oil & Gas has prepaid 30% of its loan along with interest and a 2.5% early payment penalty. The fund still has a $8.4m loan outstanding to Pursuit. The company was able to reduce its debt after benefiting from a surge of natural gas prices in Texas in its recent cold snap. Pursuit was fortunate in that its wells remained operational throughout.

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