QuotedData’s morning briefing 29 November 2022

In QuotedData’s morning briefing 29 November 2022:

  • Syncona (SYNC) appears to have secured control of Applied Genetic Technologies Corporation, with about 51.8% of that company’s shares tendered to Syncona’s bid. The tender offer is being extended until 5pm (Eastern time) tomorrow (30 November).
  • Separately, Syncona reports that it will receive £16m up front and potentially a further £6m in milestone payments from the sale of its stake in Neogene Therapeutics to Astra Zeneca. Based on the £16m figure, Syncona made a small profit of 1.1x cost and a 5% annualised internal rate of return.
  • Infrastructure India (IIP) now expects proceeds from the sale of Indian Energy to be received during December 2022. The purchaser AVSR Constructions has asked for more time to complete the transaction. The board has expressed concern to AVSR over the continued delays and has opened dialogue with certain other interested parties. Infrastructure India now expects to publish its audited annual accounts for the year ended 31 March 2022 during the latter half of December and aims to release guidance on its net asset value in the coming weeks.
  • Cordiant Digital Infrastructure (CORD) says that its NAV rose by 2.6% to 107.5p over the six months ended 30 September 2022. It is upping its dividend target for the 12 months ended 31 March 2023 to 4p.
  • Taylor Maritime (TMI) has won its battle for control of Grindrod Shipping with 73.78% acceptances of its bid.

We also have full year results from Atrato Onsite Energy and Shaftesbury

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