In QuotedData’s morning briefing 29 April 2024:
- Literacy Capital (BOOK) has announced its Q1 2024 NAV as well as providing a quarterly trading update. It generated a NAV total return of 2.0%, an uplift of £6.0m (10.0p per share), bringing its NAV per share to 510.4p, or total NAV of £306.2m. BOOK had cash inflows of £19.4m, thanks to the refinancing and capital reorganisation it announced on 3 April 2024, with these proceeds used to reduce its debt. Over the quarter it acquired a significant minority stake in Live Business Group, a provider of turnkey entertainment solutions for global travel operators, specifically in holiday resorts or on cruise ships. A charitable donation provision of £0.7m was made in the quarter.
- Digital 9 Infrastructure (DGI9) has received the deferred consideration payment of $25m in connection with the sale of the Verne Global Group of companies. Having no further need to ring-fence proceeds for good capital management, DGI9 will make an additional repayment of its RCF on 3 May, equal to c.£47m. After this payment DGI9 will have outstanding RCF draw downs of c.£53m left to repay, compared to the £373.8m it had in March 2024.
- Schroder BSC Social Impact Trust (SBSI) has announced that its portfolio manager, Big Society Capital, has changed its name to Better Society Capital. The company name remains the same and there will be no impact to share register, portfolio or investment thesis.