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QuotedData’s morning briefing 30 November 2021

In QuotedData’s morning briefing 30 November 2021:

  • Octopus Renewables Infrastructure says that following the completion of construction of the 48MW Ljungbyholm Wind Farm in Sweden and the site becoming fully operational in June 2021, the Company has entered into a Power Purchase Agreement (PPA) over the electricity to be generated at Ljungbyholm. The counterparty to the PPA (the Offtaker) is “a global manufacturer with a multi-billion dollar valuation that is a Fortune 500 company and a member of the Dow Jones Sustainability World Index“.The PPA provides Ljungbyholm with a 10-year floor price for 100% of its production each year, and will provide the Offtaker with green electricity for its operations in Sweden as part of its ambitions to switch to 100% renewable electricity by 2030.
  • Maryn Value Investments’ new 2021 realisation shares start trading today.
  • Aberdeen Standard Asia Focus beat its benchmark over the year ended 31 July 2021, returning 41.9% versus 37.2% for the MSCI AC Asia Pacific ex Japan Small Cap Index. The discount widened a little though, leaving shareholders with a return of 38.2%. Taiwan was a key contributor to returns while parts of Southeast Asia (notably Thailand and Malaysia) detracted, having struggled to contain the coronavirus. The dividend is cut from 19p to 16p but, as our other news story reveals, this will be hiked substantially next year.
  • Target Healthcare REIT (THRL) has entered into a new long-term £37m committed term loan facility with Phoenix Group. The facility carries an aggregate fixed rate of interest of 3.13% per annum on a 10-year term, maturing in January 2032, aligned with the group’s existing £50m facility with Phoenix. The facility is the first part of new loan facilities for the group, totalling £100m. Completion of the remaining £63m, which will have a longer duration and which is in the final stages of the legal and diligence process, is expected to be aligned with the group’s acquisition of a portfolio of 18 modern care homes. Combined, the new facilities will extend the group’s weighted average term to maturity. The group’s total borrowing capacity now stands at £257m.
  • Custodian REIT (CREI) has reported an 8.6% increase in EPRA net tangible assets to 106.0p per share in six months to 30 September 2021, which resulted in a NAV total return for the period of 11.7%. Thegroup’s property portfolio was up 2.4% to £565.3m.

We also have news of some planned changes at Aberdeen Standard Asia Focus, annual results from Shaftesbury and an acquisition by Tritax EuroBox.

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