In QuotedData’s morning briefing 14 May 2021:
- John Laing Group has announced that all necessary approvals have now been obtained for the availability-based Colombian road PPP project Pacifico 2 and that it has achieved financial close on its purchase of the 21.15% interest in Pacifico 2 it has acquired from Construcciones El Condor. This transaction completed for a total consideration of COP151 billion (or approximately £29 million).
- JPMorgan Elect has published its interim results for the six months ended 28 February 2021. During the period:
- the managed growth portfolio outperformed its benchmark and delivered a total return on net assets of 15.5%, compared with the portfolio’s benchmark which returned 9.9%. The share price total return was 20.4%. For the half year, two interim dividends have been paid totalling 8.55p per Managed Growth share (compared to 8.95p for the half year ended 29th February 2020).
- the Managed Income portfolio delivered a total return on net assets of 13.2%, ahead of the portfolio’s benchmark which returned 12.0%. The share price total return was 16.3%. For the half year, two quarterly dividends totalling 2.2p per Managed Income share have been paid (which is in line with the prior year). A third interim dividend of 1.10p per share was declared on 6th May 2021, consistent with the previous two quarters. The level of the fourth interim dividend will be determined by the Board towards the end of the Company’s financial year and will depend on the level of dividends received and anticipated by the Company, and the level of reserves at this time.
- the Managed Cash portfolio delivered a total return of 0.1%, while the share price was unchanged. As per company policy, an interim dividend of 0.40 pence per Managed Cash share. No further dividends are expected to be paid on this share class for the financial year ending 31st August 2021.
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LondonMetric Property has acquired three urban logistics warehouses – in Croydon, Dunstable and Warrington – for £18.7m, reflecting a blended net initial yield of 4.3% and a reversionary yield of 5.3%. The warehouses have been acquired in separate transactions and have a WAULT of five years. LondonMetric’s urban logistics portfolio now totals £1.0bn.
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LXI REIT has bought a further two Costa Coffee drive-thrus in a forward funding deal – in Edinburgh and Dumbarton – and acquired a click & collect storage facility in Doncaster let to Cazoo, the online car retailer. The total cost of the three acquisitions was £6.1m and was funded through the group’s revolving credit facility.
- Gresham House and the LF Gresham House UK Micro Cap Fund have taken a 5.37% stake in Strategic Equity Capital.
We also have Apax Global Alpha’s exposure to Nulo (premium pet foods in the US) through its investment in Apax X, as well as Apax Global Alpha’s NAV uplift from the Global-e IPO and news of the debut listing on the world’s first real estate stock exchange.