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QuotedData’s morning briefing 23 June 2021

In QuotedData’s morning briefing 23 June 2021 –

  • Weiss Korea Opportunity Fund (WKOF) said that further to its announcement of 9 June 2021, it has made good progress with the sale of assets in the realisation pool and announced the first compulsory redemption of realisation shares representing approximately 76.7% of realisation shares in issue.
  • Standard Life Investments Property Income Trust (SLI) has sold a 216,753 square foot industrial asset in Kettering for £9.05m (in line with valuation). The sale is in line with SLI’s strategy of selling industrial assets that are not suitable for logistics.
  • AEW UK REIT (AEWU) has acquired a retail site in Bristol for £10.19m, equating to £161 per square foot and reflecting a net initial yield of 8%. 15-33 Union Street is located opposite The Galleries Shopping Centre and near Cabot Circus, Bristol’s premier retail destination. The 63,125 square foot property comprises five split-level retail or leisure units over four floors. Four of the five units are let to three household names and a successful local retailer. The remaining unit is currently vacant, with the vendor providing a 12 month rent guarantee.
  • Amedeo Air Four Plus updated on its discussions with shareholders following big votes against the re-election of two directors at its AGM in December. John Le Prevost, who had 108m shares voted against him, resigned as a director yesterday. Also, since December, the company has fired Nimrod Capital and made Liberum its sole broker and tried to improve its communications with shareholders.
  • UK Mortgages will shrink as 81,143,530 shares (39.5% of its issued share capital) were tendered to its May tender offer. 26,666,666 shares will be repurchased under the tender offer. [The tender offer result suggests some frustration with the company. The share price has recovered from last year’s COVID-related crash but UK Mortgages’ shares are still trading on a discount of almost 10%. NAV returns are 2.6% per year over the past five years. The company needs to do better than that to survive.]

We also have an update from FastForward Innovations as it proposes to change its name. We also have annual results from JPMorgan Japan Small Cap Growth and Income.

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