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QuotedData’s morning briefing 25 October 2023 – NBMI, RCOI, ROOF, TMI

In QuotedData’s morning briefing 25 October 2023:

  • NB Monthly Income Fund (NBMI), which is undergoing a managed wind down, has advised that it intends to distribute to shareholders an aggregate amount of approximately £23,537,000 by way of a partial compulsory redemption of shares on 13 November 2023. Pursuant to the compulsory redemption, the company will redeem approximately 40.86% of existing shares of shareholders on the register of members. The redemption will be effected at 80.77 pence per share, which is equal to the company’s net asset value per share on 23 October 2023.
  • Riverstone Credit Opportunities Income (RCOI) announced robust portfolio performance for the quarter ended 30 September 2023, in which full deployment in energy transition investments now means that shareholders will benefit from the portfolio’s high earnings power and targeted annual dividend returns of 8-10% on subscribed capital. Against a backdrop of strong energy market performance, the global focus on decarbonisation and the company’s unique focus on short duration lending, the board believes the company remains extremely well positioned in the current environment with a portfolio of accredited energy-transition focused investments entirely through green or sustainability-linked structured loans.
  • Atrato Onsite Energy (ROOF) announced that its acquisition of the fully operational ASG 34MW rooftop solar portfolio has now been completed. The portfolio, with a total value of £77.3 million, benefits from payments pursuant to the government’s feed-in-tariff scheme, which provides the company with highly attractive revenue streams underpinned by government-backed income with annual uncapped RPI uplifts. The projected return profile will make it the highest yielding project in the company’s portfolio. The company also provided several other updates: its 20MW Nissan project was energised in early October and is now fully operational; the Thetford project with Tesco (0.4MW) was energised in the first week of October, representing the company’s first rooftop solar project under the Tesco framework agreement; its London Road solar farm (28MW) is nearing completion, with energisation expected in Q4 2023, in line with expectations; mobilisation commenced at Skeeby solar farm (55MW) in mid-August. Installation continues in line with the project timeline, with energisation scheduled for the end of March 2024.
  • Taylor Maritime Investments (TMI) provided an update for the quarter ending 30 September 2023. The company declared an interim dividend in respect of the period to 30 September 2023 of 2 cents per ordinary share. The NAV total return for the quarter was -13.5%.

We also have an annual update from Crystal Amber Fund

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