In QuotedData’s morning briefing 9 May 2022:
- CIP Merchant Capital (CIP) has applied for the cancellation of admission to trading on AIM of its ordinary shares.This follows the announcements on 1 and 20 April 2022 by Corporation Financière Européenne declaring its final offer for CIP to be wholly unconditional and confirming that there would be no further extension of its offer. The board has agreed with AIM Regulation that the cancellation is expected to occur on or shortly after 7am on 8 June 2022. Following this, the liquidity and marketability of the trust’s ordinary shares will be significantly reduced.
- NextEnergy Solar (NESF) has signed its second international co-investment with NextPower III ESG for an investment of around €22.5m, taking a 13% stake in a 210MW solar project currently under construction in Santarém, Portugal. Energisation of the project is expected to take place in Q2 2023. The co-investment will be funded using headroom available within the company’s revolving credit facilities.
- Henderson Far East Income (HFEL) has posted its half-year results for the six months to 28 February 2022. During this time, the NAV total return was negative 0.1%, which was markedly better than the FTSE World Asia Pacific ex Japan return of negative 6.3%, but behind the MSCI AC Asia Pacific ex Japan High Dividend Yield Index of 3.1%. This reflected the rotation from growth to value, alongside the portfolio’s increased allocation to the financials, materials and energy sectors. The underperformance of the high yield index was predominantly down to the oversized weighting of BHP following the consolidation of the UK stock line into the Australian listing.
We also have final results from Downing Strategic Micro-Cap, a new investment for HydrogenOne Capital Growth and Life Science REIT, a possible £3.6bn merger of Shaftesbury and Capital & Counties.