In QuotedData’s morning briefing 4 January 2023:
- On 30 December 2022 Alvarium RE Limited entered into an agreement to sell Alvarium Home REIT Advisors Limited (AHRA), the investment advisor to Home REIT (HOME), to a newly formed entity owned by the management of AHRA funded by way of a promissory note. These arrangements were made prior to the recently completed merger and listing of Alvarium Investments Limited in the US, and the sale also includes specific terms allowing Alvarium RE Limited to re-acquire AHRA in the future for a purchase price equal to the promissory note outstanding. All contractual arrangements in the Investment Advisory Agreement between Home REIT and AHRA (including fees, term and service provision) remain unchanged.
- Gabelli Merger Plus’s (GMP) next tender offer is now open. Investors can submit shares to the tender offer anytime up to 1pm on 2 February. The NAV will be calculated as at 8 February and the tender price willl be that NAV less costs associated with the tender. The money will be sent out on the 15th.
We also have news of a new investment for Riverstone Credit Opportunities