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QuotedData’s morning briefing 26 April 2022

In QuotedData’s morning briefing 26 April 2022:

  • NextEnergy Solar Fund (NESF) has selected North Norfolk solar farm as the site for its first co-located battery storage project. The existing 11MW solar farm will sit alongside a 6MW/12MWh battery system. Planning permission for the co-located battery system has been secured, with construction expected to commence on site later this year. Four more potential locations have been identified and retrofit opportunities are being explored across all of NextEnergy’s 91 sites. The company is also developing storage projects with its joint venture with Eelpower.
  • Pantheon Infrastructure (PINT) has invested €26.5m in an unnamed digital infrastructure company that owns and operates regional fibre-to-the-home (FTTH) broadband infrastructure somewhere in Western Europe. The company provides broadband internet access to nearly one million homes as well as additional telecom services (TV; fixed and mobile telephony) through its fibre-based network infrastructure of circa 50,000 km. It is an established player in its home market and aims to reach two million fibre connections by 2025.
  • Standard Life Investments Property Income Trust (SLI) has completed the purchase of a Motorpoint car showroom in Stockton-on-Tees for £5m, reflecting a net initial yield of 6.5%. The acquisition will be funded out of existing cash reserves and was a sale and leaseback, with Motorpoint entering into a new 25-year lease (with tenant option to end the lease after 15 and 20 years). The 46,500 sq ft showroom has recently undergone a comprehensive refurbishment prior to Motorpoint taking occupation and sits on a 5.2-acre site.
  • Supermarket Income REIT (SUPR) has increased the target size of its issue from £175m up to a maximum of £300m. The decision was made following a strong level of support received from potential investors, which materially exceeded the initial target issue size. The company’s investment adviser is confident that it can deploy the increased funds into acquiring assets in its investment pipeline. The results of the issue are expected to be announced tomorrow and commence trading on 29 April 2022.
  • Origo (OPP) is suspending its shares having lost its Nominated Advisor. The board has determined that the financial implications of appointing a new Nominated Advisor are not in the best interests of the company. At 30 May 2022 the admission of Origo’s shares to AIM will be cancelled. Ahead of 30 May, Origo will announce a payout of all distributable cash and will make that payment as soon as practicable thereafter. 80% of any distributable amount will be paid to redeemable preference shareholders and 20% to ordinary shareholders. Dependent on possible developments concerning Origo’s Celadon investment, this will likely be Origo’s final distribution. Following suspension and AIM cancellation, Origo will continue to report to shareholders through the RNS service as well as to post information on its website: www.origopartners.com . In order to enable the transferability of Origo shares following suspension and delisting, Origo’s administrator, FIM Capital Limited will provide a matched bargain facility that will enable investors to transact in Origo shares. Mr. Philip Scales who is both a director of Origo and a director of FIM Capital Limited will assume oversight of the facility.

We also have results from NB Private Equity and Third Point Investors

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