In QuotedData’s morning briefing 24 March 2022:
- Starwood European Real Estate Finance (SWEF) generated an NAV return of 6.6% for the year ended 31 December 2021 and paid a reduced dividend of 5.5p (down from 6.5p). Subject to the discount triggered realisation mechanism not being activated, the directors will put forward a realisation vote no later than 28 February 2023. The board believes that, as a result of the strong fundamentals supporting the investment strategy, robust operating metrics which include a consistent dividend yield and stable NAV, combined with the strong financial position of the company, there is a compelling rationale for shareholders to vote against a realisation offer and realisation vote put them. The board looks forward to shareholder engagement on this matter in the run up to 31 December 2022.
- Gabelli Merger Plus (GMP) says that, shortly before the fifth anniversary of it admission to trading, it will arrange a tender offer for all qualified registered shareholders (a registered shareholder who was entered into the Loyalty Register on admission, who remains on the Loyalty Register until the making of the fifth anniversary tender offer [i.e. someone who bought shares at launch and has held onto them since] and who is not an ineligible shareholder).
- The UK Mortgages/TwentyFour Income deal is happening – the acquisition value of a UK Mortgages (UKML) share is 83.31p, the issue price for new TwentyFour Income (TFIF) shares is 114.21p. Therefore, for every UK Mortgages share, holders will get 0.72946436 TwentyFour Income shares.
This morning we have results from M&G Credit Income, Temple Bar, International Public Partnerships, GCP Asset Backed Income and US Solar Fund, a new conditional tender offer for Aberdeen New India, new investments by Foresight Sustainable Forestry and HydrogenOne, a fundraise from SDCL Energy Efficiency