In QuotedData’s morning briefing 9 November 2021:
- AVI Global (AGT)’s asset manager says that “it and three other shareholders collectively owning over 18 per cent. of the ordinary shares requisitioned the [Third Point Investors (TPIL)] board on 2 November 2021 to convene an extraordinary general meeting (EGM) of TPIL at which shareholders will be asked to vote on a resolution to remove Joshua L Targoff, the representative of Third Point LLC on the board, as a director of TPIL.” the statement says that it has “chosen to disclose this today given the board’s failure to inform the market of their receipt of this requisition.”
- Harmony Energy Income Trust (HEIT) starts trading today.
- Supermarket Income REIT (SUPR) said this morning that “Further to recent press commentary…” [it] “confirms that it is in discussions to acquire two assets“. We can’t find the press commentary that the statement is referring to and this doesn’t seem like it would be particularly out of the ordinary for the company which has bought a large number of assets over the years and recently raised £200m with a view to its “£180m of target assets already under exclusivity and a robust pipeline of £420m“.
- Warehouse REIT (WHR) has posted a 12.8% increase in EPRA net tangible assets (NTA) to 152.4p per share in half-year results to the end of September. The growth was driven by a like-for-like uplift in the value of its portfolio of 9.4% to £907.1m. Dividends in the period totalled 3.1p, while EPRA earnings per share also totalled 3.1p. The group said a move from the AIM market to the Main Market of the London Stock Exchange remains a strategic near-term priority.
- Harworth Group (HWG) has sold its Kellingley development site in Selby, North Yorkshire for £54.0m, payable in cash upon completion. Harworth took control of the 149-acre Kellingley site in 2016, following the closure of the former Kellingley Colliery. It has since undertaken land remediation and masterplanning works, and in 2019, received outline planning consent from Selby District Council for the development of up to 1.4m sq ft of industrial and logistics space. The site had a valuation of £31.1m as at 30 June 2021.
- Sirius Real Estate (SRE) raised gross proceeds of £137m from a capital raise announced yesterday. The capital raise will in aggregate comprise the issue of 105,281,686 new Ordinary Shares at a price of 130 pence. This represents a discount of around 6% to the closing share price of 138 pence on Friday, 5 November 2021. The net proceeds of the raise will be used to part fund the acquisition of the UK flexible business space owner BizSpace from Värde Partners for a cash consideration of £245m.
- Sirius has also today completed the acquisition of Oberhausen Business Park for €39.8m. The acquisition has been made using the proceeds of the Company’s €400 million corporate bond issuance in June 2021 and will add a further 77,600 sqm of lettable office and industrial space to the Company’s 1.5m sqm portfolio. The property generates net operating income (NOI) of €2.33m per annum, with an average rent of €3.29 per sqm, reflecting an EPRA Net Initial Yield of 5.9% at 63% occupancy. The asset has a remaining Weighted Average Lease Expiry (WALE) of 3.2 years.
We also have results from AVI Global Trust, which is planning to subdivide its shares.