In QuotedData’s morning briefing 6 July 2023:
- TwentyFour Select Monthly Income (SMIF) says 3,939,187 shares were tendered to its quarterly tender offer. 500,000 of these were purchased by Numis and the rest have been bought back into treasury – all at 72.62p per share.
- JPMorgan Multi Asset Growth and Income (MATE) passed its continuation vote on 4 July by 75.1% to 24.9%.
- LondonMetric Property (LMP) has exchanged on the sale of five assets for £42.8m, reflecting a net initial yield of 4.5%. The combined sales are in line with the 31 March 2023 book value. Three of the assets are long-income with a WAULT of 12 years and have been sold individually for £25.3m in total. They comprise: a 58,000 sq ft long income asset in Durham let to Lidl and The Range, sold for £14.1m; a 28,000 sq ft urban warehouse in Croydon let to HTC, sold for £8.1m; and a long-income property located close to London Bridge, sold for £3.1m. The other two assets are urban warehousing estates that have been sold as a portfolio for £17.5m and include a 17 unit estate in Croydon and an 18,000 sq ft, eight-unit estate in Oxford. The sales proceeds will be used to reduce the company’s floating rate debt to £35m (representing just 4% of total drawn debt).
- Civitas Social Housing (CSH) says the bidder now controls 89.25% of the company and will de-list it on 4 August 2023. If it crosses the 90% threshold, it will compulsorily acquire any remaining shares.
We also have results from Schroder British Opportunities and Oryx International, plus an update from Gore Street Energy Storage