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QuotedData’s morning briefing 24 January 2023

In QuotedData’s morning briefing 24 January 2023:

  • JPMorgan Global Income & Growth (JGGI) says its C share portfolio now has 77% commonality with its ordinary share portfolio. The C share portfolio contains holdings from JPMorgan Elect Managed Growth that the managers thought it might take some time to sell. The board decides when the time is right to merge the two pools. It doesn’t think that we are there yet.
  • BH Macro (BHMG/BHMU) will subdivide its shares on a 10×1 basis and issue up to 220m subdivided shares at a 2% premium to NAV between now and 23 January 2024. The premium has been quite a bit higher than this and is currently around 4%-5%.
  • JLEN Environmental Assets (JLEN) says that its NAV as at the end of December 2022 was 123.5p, down 0.9p over the final quarter of the year (after adjusting the previous NAV for the impact of the electricity generator levy). The movement is due to the net impact from a decline in near and medium term power price forecasts provided by independent third party consultants (-3.4p), operational gains from investments performing above expectations for the period (+0.7p) and an increase to the 2023 forecast rate of RPI to 6.5% reflecting an average of recent independent economic forecasts (+1.7p).
  • Bluefeld Solar (BSIF) has declared a first quarterly dividend of 2.1p, in-line with its 8.4p forecast for the current financial year (expected to be covered by earnings and to be post debt amortisation).
  • Circle Property (CRC) has exchanged contracts on the sale of Victory House, 400 Pavilion Drive, Northampton, to Hilla Group Northampton Limited at a sale price of £2.75m. Completion is expected by mid-March 2023. Victory House comprises a 22,300 sq ft office building that was acquired by the Group in 2011 for £1.7m. Profit before tax for the year ended 31 March 2022 attributable to Victory House was £0.27m and the 31 March 2022 valuation was £3.2m. Following completion, the net proceeds from the disposal will be held as group cash and are expected to be returned to shareholders through the proposed B Shares Issues.

We also have results from CC Japan Income & Growth and an update from LondonMetric

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