In QuotedData’s morning briefing 15 October 2021:
- Marwyn Value Investors (MVI) has updated following the completion of Zegona’s tender offer (at £1.535 per Zegona ordinary share). Following the tender, the Marwyn Funds are due proceeds of £45,425,386 attributable to MVI’s ordinary shares and £6,686,881 attributable to MVI’s realisation shares. The Zegona Realisation Share Proceeds, along with cash held by the Master Fund attributable to Realisation Shareholders of £900,000 which is not required to be held for reasonable working capital purposes, will be distributed to the Realisation Shareholders. Of the total amount of £7,586,881 to be distributed, it is expected that approximately:
- £6,360,785 will be returned to the Realisation Shareholders (the “Distribution”); and
- £1,226,096 will be distributed by the Master Fund as the related incentive allocation.
The Distribution will be effected by way of a compulsory redemption undertaken pro rata to holdings of realisation shares on the register as at the close of business on the record date for the redemption, being 4 November 2021.
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Mercantile (MRC) has announced its interim results for the six months ended 31 July 2021. During the period, it provided NAV and share price total returns of 25.3% and 21.3% respectively, outperforming its benchmark, which provided a total return of 18.1%. MRC’s managers say that a number of their largest and long-held positions contributed to the strong performance, with further gains made from recent investments in a number of new issues.
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Tritax Big Box REIT (BBOX) has been awarded four green stars out of five in its 2021 sustainability survey by GRESB (Global Real Estate Sustainability Benchmark), which scored its portfolio 81/100 for ESG initiatives. This improves on its three green stars and score of 72/100 in 2020.
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Tritax EuroBox (EBOX) has also been awarded four green stars out of five by GRESB and has improved its score from 64/100 last year to 82/200.
- Miton Global Opportunities is being renamed MIGO Opportunities Trust. The ticker stays the same (MIGO) and the change won’t take effect until it is signed off by Companies House.
We also have Electra’s update on its demerger of Hostmore (TGI Fridays and 63rd and 1st), and Artemis Alpha’s plans to cancel its 2021 tender offer, replacing it with a three-year share buyback policy at a similar price to the previously proposed tender.