In QuotedData’s morning briefing 13 July 2022:
- Round Hill Music Royalty (RHM) has announced plans to apply for admission of its shares to the premium segment of the main market of the London Stock Exchange. RHM is currently admitted to trading on the Specialist Fund Segment of the London Stock Exchange but as the company grows, the board believes it will benefit over time from such a migration as it is anticipated that this will broaden its appeal to a wider range of shareholders. RHM also intends to introduce an additional market quote for the shares on the London Stock Exchange denominated in sterling.
- Brunner (BUT) has posted its half year report for the six months to 31 May 2022. During the period under review, its NAV fell by 1.4% while its share price was down 4.3%. This compares with a 2.7% fall from its benchmark. In June, the board declared a first interim dividend of 5.15p per ordinary share which is payable on 21 July 2022. The board also stated at the point of that declaration that they anticipate second and third interim dividends at a similar level and an unchanged final dividend for 2022 of 6.05p for the year ending 30 November 2022. Given the board’s intention, this should give a dividend for the year of 21.5p, a 6.7% increase. At the end of the 2021 financial year, the trust proudly reached a landmark 50 years of consecutive dividend increases, making it an AIC ‘Dividend Hero’.
- Town Centre Securities (TOWN) has confirmed press reports that YourParkingSpace Limited, in which it holds an equity investment, is in advanced stages of a sale to Flowbird. If successfully completed, TOWN will receive a total cash consideration of up to £20.7m for its equity investment. The company adds that there can be no certainty that a transaction will take place.
We also have an update on the management team at Ruffer.