In QuotedData’s morning briefing 21 February 2022:
- Following Digital 9 Infrastructure’s (DGI9) announcement on 13 January 20221 that its wholly owned subsidiary, Digital 9 Wireless Limited, had signed a conditional sale and purchase agreement to acquire a majority stake in Tetra Ireland Communications Limited, the company has received notice that one of the other shareholders has confirmed its intention to exercise its pre-emption right over the majority stake and, as a result, the SPA has been terminated.
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Hammerson (HMSO) confirms press reports that it is in discussions with Redical Holdings AG on terms for a possible sale of its Victoria Gate and Victoria Quarter shopping centres in Leeds for £120m. The group says this was in line with its strategy to sell non-core assets to strengthen its balance sheet and re-cycle capital into its core portfolio and its development pipeline. It adds that there can be no certainty that a transaction will take place.
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LXi REIT (LXI) has deployed a further £57m from its recent £250m equity capital raise, after last week announcing £87m of deals. The most recent acquisitions, which have been transacted on an off-market basis, reflect a net initial yield of 5.25%. The company has now deployed £144m since the capital raise, which closed on 9 February. The group is forward funding an office in Dundee pre-let to BT Group plc on a new, unbroken 17.5 year lease, with five yearly CPI inflation linked rental uplifts, capped at 3% per annum and collared at 1% per annum compounded. The 77,000 sq ft property will house BT’s critical infrastructure to handle emergency 999 telephone calls. The company will receive a cash-backed income from the developer during the construction period in line with the purchase yield. LXI has also acquired a portfolio from Cazoo, comprising five customer service, car storage and repair and maintenance facilities in Chertsey, Northampton, Newcastle, Carlisle and Cardiff, leased back to the online car retailer on new, unbroken 20-year leases with five yearly CPI linked rental uplifts, capped at 4% per annum and collared at 2% per annum compounded.
- Supermarket Income REIT’s (SUPR) entire issued ordinary share capital will transfer from trading on the Specialist Fund Segment to the Premium Segment of the London Stock Exchange’s main market, having received approval from the FCA. Admission is expected to occur on 23 February. The company says that the migration should facilitate its eligibility for inclusion in the FTSE UK and FTSE EPRA NAREIT Index Series, which is expected to take place at the Q2 2022 index review.
We also have news on Polar Capital Global Financials and Crystal Amber.