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QuotedData’s morning briefing 5 May 2023

In QuotedData’s morning briefing 5 May 2023:

  • Ediston Property Investment Company (EPIC) has posted a slight increase in the value of its property portfolio in the quarter to 31 March 2023 of 0.6% to £204.3m. NAV per share was down slightly by 0.6% to 80.44 pence (31 December 2022: 80.93 pence). NAV total return (including dividends) for the quarter was 1.0% (31 December 2022 quarter: -13.4%). The company also updates on its strategic review, announced in March, saying that the board and its advisers have engaged with a significant number of interested parties and expects to provide an update to shareholders in the third quarter of 2023. The board has a preference for structuring a merger with one or more REITs, but it will consider all options.
  • On 1 February 2023, Castelnau Group (CGL) published a prospectus in relation to a placing of new ordinary shares to raise proceeds to meet its funding obligations in respect of the recommended cash offer for Dignity Plc. This fundraising has now completed raising gross proceeds of £56.6m (through the placing of 75,461,138 new ordinary shares) and was well supported by both existing shareholders and new investors. CGL says that a further 26,727,844 new shares will be issued in connection with the Takeover Offer to those Dignity Shareholders who opted for the Listed Share Alternative. In addition, 32,442,737 ordinary shares are to be issued pursuant to the Consortium Rollover as described in the Prospectus. The aggregate number of new ordinary shares to be issued pursuant to the Placing, Takeover Offer and Consortium Rollover will be 134,631,719.

We also have a quarterly NAV update by Chrysalis Investments, and portfolio sales by abrdn European Logistics Income and Palace Capital

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