In QuotedData’s morning briefing 22 March 2024:
- BlackRock Greater Europe (BRGE) is not going implement its semi-annual tender offer in May 2024. Over the six months to 29 February 2024, the average discount to net asset value (cum income) (NAV) was 6.3%. However, as the discount to NAV on a cum income basis (diluted for treasury shares) as at close of business on 20 March 2024 was 5.3% and the Company was trading at the narrowest discount within its peer group, BRGE’s Board has concluded that it is not in the interests of shareholders as a whole to proceed with this tender. However, BRGE’s Board will continue to monitor the trust’s discount to NAV and will look to buy back shares and/or operate six monthly tender offers if it is deemed to be in the interests of shareholders as a whole.
- Riverfort Global Opportunities (RGO) has made an investment in S-Ventures plc (SVEN) in the form of a £1m loan and the redemption of its debt and equity-linked portfolio for about £2.2m in cash. It is planning to buy 100% of the assets and liabilities (the business) of SVEN and, if this transaction is approved by shareholders and completed, Riverfort would become an operating company traded on AIM. It has asked for its shares to be suspended pending the outcome of this proposal.
We also have:
- Annual results from Dunedin Enterprise
- Elliott Advisers acquiring a stake in Scottish Mortgage
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