- Riverstone Energy Limited (RSE) announced that it has entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt.
- CT Private Equity Trust (CTPE) announced its results for the half year ended 30 June 2023. Share price total return for the six-month period was 15.3% while NAV total return was down -2.3%. The company has paid total quarterly dividends of 13.96p per ordinary share year to date representing an increase of 12.9% from the same period last year.
- CQS Natural Resources Growth and Income Fund (CYN) provided a monthly update for July with the fund returning 6.3%. Performance was driven by strong contributions from energy related equities. The improvement occurred despite the continued headwind from sterling which gained a further 1.24% against the dollar over the month.
- Home REIT (HOME) announced that One CIC has agreed to surrender its leases on 100 properties comprising a total of 418 beds. Mears Limited, the housing and social care provider, has been occupying the properties on a sub-lease from One CIC. These sub-leases will now transfer to Home REIT, with Mears Limited becoming a direct tenant for the remaining lease term of c.6.6 years with an initial contracted rental income of £891,155 per annum. The surrender agreement allows the company to receive a sustainable income stream from a strong tenant covenant and is expected to generate significantly higher rent collection than has previously been received from One CIC in relation to the properties, despite a lower headline rent (previously £1,227,405 per annum).
We also have an update from GCP infrastructure