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QuotedData’s morning briefing 8 August 2022

In QuotedData’s morning briefing 8 August 2022:

  • Aberdeen New India (ANII) has entered into a new three year revolving credit facility of £30m with The Royal Bank of Scotland International, which replaces its £30m loan facility (also with RBSI), which matures on 5 August 2022. £30m of the facility has been drawn down and used to repay the maturing loan facility.
  • In the dispute over the future of Trian Investors 1, shareholders voted to remove one director and appoint another. Voting was very finely balanced. Chris Sherwell’s removal was approved by 50.72% versus 49.28%, as was the appointment of Robert Legget. All the other votes went 49.61% versus 50.39%. Simon Holden and Anita Rival get to keep their directorships and Miles Staude did not make it onto the board. Now, we’ll have to see what happens next.
  • RM Infrastructure Income (RMII) has published its half-year report for the six months to 30 June 2022. During the period, its NAV delivered 2.68%, while its share price fell by 1.06%. However, this remained ahead of its benchmark return of -7.62%. The portfolio delivered a steady net interest income with two further dividends declared and paid in the period totalling 3.25 pence per Ordinary Share. Overall, since inception there have been 21 distributions totalling 32.35 pence per Ordinary Share to Shareholders.

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