QuotedData’s morning briefing 11 December 2023 – SYNC, TMI, UKW, HGT, LXI, DNA2

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In QuotedData’s morning briefing for 11 December 2023:

  • Syncona (SYNC) has provided an update on the clinical study of its portfolio company, Autolus Therapeutics. The results have indicated the strong safety profile of the drug and importantly show a durable response for patients.
  • Taylor Maritime Investments (TMI) has released its half year results for the period ending 30 September 2023. TMI’s fleet was reduced by 7 vessels over the 6 month period, from 51 to 44, following their sale. Of the 44 vessels, 34 are Handysize vessels and 10 are Supramax/Ultramax vessels including 3 chartered-in vessels with purchase options, with a total market value of $750m. TMI reduced its debt balance by $91m to $338m. TMI has declared dividends of 4 US cents per ordinary share for the period.
  • Greencoat UK Wind (UKW) announced that it has completed its acquisition of a 49.9% interest in Kype Muir Extension wind farm from Banks Renewables. The investment was made during construction by way of a loan which has now been repaid. The completion takes UKW’s net generating capacity to over 2GW.
  • Hg Capital Trust (HGT) has announced the sale of GGW Group, one of the leading European insurance brokerage platforms for small and medium-sized enterprises, with Permira, a global private equity firm, investing in the business. This transaction values HGT’s investment in GGW at approximately £93.8m, representing an 40% uplift of £27.0m (as of its 30 September 2023 valuation).
  • LXi REIT (LXI) has announced that a 1.2MWp solar PV array will be added to its Bombardier facility at Biggin Hill Airport. The array will be funded by Octopus Energy Group’s generation arm at no cost to LXI. The array will provide approximately 30% of Bombardier’s total electricity consumption at the site, and reflects the accelerating solar array roll-out programme across LXI’s portfolio.
  • Doric Nimrod Air Two (DNA2) says that following the sale of two A380 aircraft, it will return £59.229m to shareholders by way of a compulsory redemption of shares. The redemption will be of two ordinary preference shares for every seven shares held (49,357,143 shares in total) at 120p per share.

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