In QuotedData’s morning briefing 1 November 2023:
- Vietnam Enterprise Investments Limited (VEIL) has announced that Mr. Gordon Lawson will step down as chair of the company and resign from the board, both effective 30 June 2024. Mr. Lawson has served as an independent non-executive director of VEIL since July 2014, and as chair since 2022.
- BioPharma Credit (BPCR) has announced that a continuation resolution has been triggered on account of the company’s shares having traded, on average, at a discount in excess of 10% of NAV over the 12-month rolling period ending on 31 October 2023. Therefore a general meeting must be convened proposing a continuation resolution no later than 31 December 2023. The company will announce further details in due course regarding the timing and agenda of the meeting and the board will recommend that shareholders vote in favour of continuation.
- Thomas Loyd Energy Impact (TLEI) has changed its name to the Asian Energy Impact trust following the ending of its investment management relationship with ThomasLloyd Global Asset Management, three years earlier than scheduled. The company has also announced that it has entered into a transitional investment management agreement with the company’s AIFM, Adepa Asset Management, and Octopus Renewables Limited under which, effective from 1 November 2023, Octopus Energy Generation will act as the company’s transitional investment manager. Octopus Energy Generation’s immediate priorities will be to assist finalising the 31 December 2022 and 30 June 2023 valuations, 2022 audit and accounts and 2023 interim report and lifting the suspension of admission to listing and trading of the company’s shares as soon as possible.
- Target Healthcare REIT (THRL) posted a 1.1% uplift in EPRA net tangible assets (NTA) to 105.6p per share in the quarter to 30 September – the third consecutive quarter of NAV growth. The value of its portfolio of care homes increased 0.8% on a like-for-like basis to £890.3m, with the EPRA topped up net initial yield stable at 6.22%. Adjusted EPRA earnings per share for the quarter was 1.54p, fully covering the dividend of 1.428p. Loan to value was 25.0%, with a weighted average debt term of 6.0 years and earliest maturity in November 2025. Interest costs are hedged on 95% of the debt.
We also have an update from RTW Biotech