In QuotedData’s morning briefing 9 July 2021:
- RM Secured Direct Lending (RMDL) has announced that it has put in place an “Irrevocable Buy Back Programme” whereby its joint brokers (Singer Capital Markets Limited and Peel Hunt LLP) have been given authority to buy back the company’s ordinary shares (within certain pre-set parameters), should these trade at a discount in excess of 6% during its close period. This programme commences today and will run until 9 August 2021.
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HICL Infrastructure (HICL) has announce that, in a successful pilot scheme sponsored by InfraRed, one of its investments, the Sheffield Building Schools for the Future (BSF) project, has become the first public-private partnership (PPP) in the UK to proactively amend its financing agreements ahead of the announced LIBOR cessation on 31 December 2021. The intention is that this agreement will be used as a template to provide a smooth transition for other UK PPP projects, including those in the HICL portfolio, during the remainder of the calendar year.
- Land Securities (LAND) has revealed rent collection rates for the current quarter (which came due at the end of June) of 81%. That’s £77m of £95m billed for the quarter (£103m including monthly payments). It’s office portfolio saw a 95% collection rate, while regional retail received 64%. £18m remains outstanding for the quarter and since April 2020, the group has agreed £50m of rent concessions. LAND also confirmed a first quarter dividend for the 2021/22 financial year of 7.0p per share, which will be paid on 8 October 2021 to shareholders on the register at the close of business on 27 August 2021.
- Derwent London (DLN) also reported rent collection rates for the quarter today. The group has received 93% of office rents and 89% overall (including retail adjoining its offices). A further 5% of total rent is due later in the quarter, leaving 6% outstanding.
We also have results from RM Secured Income (its NAV recovered strongly in the year to 31 March 2021 and income remained strong), the results of Augmentum Fintech’s capital raise (it hit its £55m target in an oversubscribed issue), and results from Atlantis Japan Growth (it significantly outperformed the TOPIX)