QuotedData’s morning briefing 10 February 2024 – ADIG, CREI

a cup of coffee sits on a wooden board

In QuotedData’s morning briefing 10 February 2024:

  • Following the previously confirmed wind-down, abrdn Diversified Income and Growth (ADIG) announced that the company has redeemed and cancelled the remaining £16,096,000 principal amount of its 6.25% bonds due 2031. As announced on 8 March 2024, the redemption price was 114.983%. The redemption price having been calculated in accordance with the conditions, using the gross redemption yield of the United Kingdom 6% Treasury Stock due 7 December 2028. Application has been made for the admission of £16,096,000 in principal amount of the bonds, and following this redemption and cancellation there remain no further bonds outstanding and the company has no further debt. The company also expects in the coming weeks to issue a further circular providing details of the expected initial capital return, which is proposed to be carried out by way of an issue and redemption of bonus shares to all shareholders. It is expected that the initial return of capital will be implemented around the end of June 2024.
  • Custodian Property Income REIT (CREI) has completed the disposal of a vacant car showroom in Redhill for £2.35m, representing a 15% premium to the 31 December 2023 valuation.

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