In QuotedData’s morning briefing 12 May 2022:
- Temple Bar (TMPL) is splitting its shares. With effect from tomorrow, a holder of one share will own five shares in the trust and the share price will adjust accordingly. If you hold your shares evidenced by paper certificates rather than through an online trading account, new share certificates should be posted to you by 27 May.
- Jupiter Emerging & Frontier Income (JEFI) has published a circular to approve its liquidation. Following approval, at least 90% of net assets are expected to be turned into cash within three weeks and an initial distribution is expected around 31 July. The Russian assets valued at zero in the accounts may be sold at a later date but at present this seems unlikely – depends on sanctions being lifted and Russia agreeing to let cash out of the country. Shareholders will also get a dividend, to be paid around 24 June. Total costs of the liquidation are estimated at £240,000. The last day for trading in the shares is expected to be 8 June.
- Fondul Proprietatea (FP) is tendering for up to 325m of its shares at RON2.19 per share.
- AEW UK REIT (AEWU) has secured a new £60m, five-year term loan facility with AgFe, an independent asset manager specialising in debt-based investments. The loan is a fixed rate loan with a total interest cost of 2.959%. The group’s existing £54m RBS International loan facility, which is due to mature in October 2023, will be repaid in full by the new loan facility. Simultaneous to the funding, the Company’s interest rate cap will be sold; with its value, as at 30 April 2022, being £908,000. With this new loan facility secured, the loan to NAV will be 31.4%.
We also have results from ICG Enterprise Trust and North Atlantic Smaller Companies and an acquisition by UK Commercial Property REIT and an office sale by Land Securities