In QuotedData’s morning briefing 15 March 2022:
- ThomasLloyd Energy Impact (TLEI) says that it has received formal approval by the Government of India for the purchase of a 43% economic interest in SolarArise India Projects Private Limited. The deal encompasses seven solar power projects in India with a total capacity of 434 MW. Completion of the deal is expected in the second quarter of 2022. The cost is $34.6m which will be settled by issuing shares in the fund to the seller. It is possible that ThomasLloyd Energy Impact will end up with a bigger stake. It has entered into a conditional agreement to increase its investment in SolarArise by buying more shares from the other existing shareholders; that would also need regulatory approval. The initial dividend of 2-3% per share on the $1 IPO price is apparently on track.
- VPC Speciality Lending (VSL) says that VPC Impact Acquisition Holdings II (VPCB), a special purpose acquisition company, and FinAccel, the parent company of Kredivo, an AI-enabled digital consumer credit platform in Southeast Asia, announced the mutual termination of their previously announced business combination agreement. Through VPC Sponsor, the company currently owns 1,029,833 Class B Shares and 833,529 private placement warrants in VPCB, valued on an aggregate cost basis at $1.2m. VPCB is considering future options, including seeking an alternative business combination. The parties have agreed that, in the event that VPCB is liquidated, Kredivo shall issue a warrant with a nominal exercise price to VPCB providing VPCB with the ability to acquire a stake equal to 3.5% of the fully diluted equity securities of Kredivo.
We also have results from abrdn Smaller Companies Income, EP Global Opportunities and Smithson.