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QuotedData’s morning briefing 8 June 2021

In QuotedData’s morning briefing 8 June 2021:

  • Aberdeen Smaller Companies Income (ASCI) has appointed Christopher Metcalfe, a former investment manager at Newton IM, Schroders and Henderson Administration Group, as an independent non-executive director, following the retirement of former director Barry Rose. The board also said an additional independent non-executive director will be recruited before the company’s 2022 AGM, in anticipation of the retirement of its chairman, Robert Lister.
  • Caledonian (CNN – NB the property company, not Caledonia) has repaid £115,000 of outstanding loans plus accrued interest owed to Leafrealm, a company controlled by Douglas Lowe, Caledonian’s chair, chief executive and a major shareholder. The loan facility was put in place in July 2020 for working capital purposes and had been fully drawn down by the company. Caledonian has also repaid an unsecured loan of £99,999 to Mrs V Baynham, the wife of Mike Baynham, finance director of Caledonian. The repayment of the loans was afforded from net proceeds from the sale of Ardpatrick Estate. The aggregate amount now remaining that is owed to Leafrealm across various prior loan arrangements totals £4,380,000.
  • Following its placing programme announcement with a target of £100m on 24 May, Digital 9 Infrastructure (DGI9) has agreed to increase the amount raised to £175m after the fundraise was oversubscribed. The company received demand materially in excess of £175m and scale back was applied. 160,110,392 new ordinary shares will be issued pursuant to the placing, and 6,556,275 new ordinary shares will be issued pursuant to the retail offer via the PrimaryBid platform, at 105p per share, raising combined gross proceeds of £175m, which will be used to acquire further assets in line with the company’s investment objective, identified in its pipeline at IPO. [This is a good result and illustrates the potential for this sub-sector, which we think could grow very quickly.]

We also have results from Fidelity China Special Situations and Aberdeen Japan.

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