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QuotedData’s morning briefing 4 July 2022

QuotedData's Morning briefing

In QuotedData’s morning briefing 4 July 2022:

  • ScotGems (SGEM) has decided to put forward formal proposals to shareholders for a members’ voluntary liquidation of the company. Such proposals, if approved, would provide all shareholders with a full cash exit less costs. This comes after the company received notice to terminate its AIFM from First Sentier Investors (UK) Funds Limited. Ahead of the liquidation, the board intends to instruct its investment manager to realise the company’s investment portfolio in an orderly manner. The exact timing will depend on market conditions. The board will then convene a general meeting at which a special resolution to approve the members’ voluntary liquidation will be proposed.
  • BMO Capital and Income (BCI) has changed its name to CT UK Capital and Income following the acquisition of its manager, BMO GAM, in November 2021.

  • Harmony Energy Income (HEIT) has posted its interim results for the period since its incorporation on 1 October 2021 to 30 April 2022. During this time its NAV increased by 8.85%, primarily driven by a 17% increase in revenue projections. During the period, three of the four “shovel ready” projects progressed to “under construction” with EPC contracts signed for Broadditch in January 2022 and Farnham and Rusholme in April 2022. By the end of 2022, the Company expects to have 109 MW of operating projects and 203.5 MW of projects “under construction”. HEIT declared its first dividend of 1 pence per Ordinary Share in line with the target dividend set out on IPO and the company can affirm its intention to declare a second interim dividend of 1 pence per Ordinary Share to be paid in December 2022. 

We also have final results from Augmentum Fintech and JPMorgan Global Core Real Assets, a proposed change in investment policy from Octopus Renewables Infrastructure an update from Hipgnosis Songs Fund, acquisitions from Supermarket Income REIT and Home REIT and the results of a strategic review by Palace Capital.

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