In QuotedData’s morning briefing 5 April 2024:
- Schroder BSC Social Impact Trust (SBSI) plc has made a £5m commitment to Savills IM Simply Affordable Homes Limited Partnership. The Fund is focused on delivering affordable homes across the UK, by using its established strategic partnerships with high quality Housing Associations, developers, and housebuilders, through a mix of acquiring existing stock and delivering new build homes. SBSI says that Savills Investment Management has a proven track record in managing over £22.1 billion of real estate assets, of which more than £1.5 billion are residential real estate. It adds that the fund management team and the Fund’s established For-Profit Registered Provider board have a strong track record in delivering social and affordable housing. The Fund will invest in and manage a diversified portfolio of affordable housing, comprising both affordable and social-rent homes as well as shared-ownership homes, generating government-backed and inflation-linked income streams. The Fund aims to deliver strong impact in line with the Company’s Impact Thesis and Theory of Change: properties will be affordable rented (20% or higher discount to market rates), social-rent or shared ownership homes, with a focus on areas with high local authority waiting lists and areas ranked within the lowest 40% in the Index of Multiple Deprivation. Furthermore, the Fund operates under enhanced governance frameworks and a sustainable investment strategy, targeting high environmental standards and progressing towards Net Zero Carbon by 2040.
- Taylor Maritime Investments (TMI) says that its subsidiary, Grindrod Shipping Holdings Ltd intends to undertake “a selective capital reduction exercise” whereby it will cancel all of the shares held by its shareholders, other than the shares held by Good Falkirk (MI) Limited. Good Falkirk is a wholly-owned subsidiary of TMI, through which TMI currently holds its existing stake in Grindrod. Assuming that this process is successful, Grindrod will become a wholly-owned subsidiary of TMI. The plan is that each participating Grindrod shareholder will receive US$14.25 for each Grindrod share that is cancelled. The Selective Capital Reduction must be approved by way of a special resolution at an extraordinary general meeting of Grindrod. During which TMI, Good Falkirk and their respective concert parties will abstain and not vote on the special resolution. The Selective Capital Reduction will also be conditional on (i) the grant of an order by the High Court of the Republic of Singapore approving the Selective Capital Reduction and such court order having become final, (ii) the receipt of approval from the Johannesburg Stock Exchange for the corporate action timetable and the circular to Grindrod shareholders, and (iii) receipt of the approval of the Financial Surveillance Department of the South African Reserve Bank for the Selective Capital Reduction and the cash distribution in connection therewith.
We also have:
- Annual results from North American Income Trust
- Annual results from VH Global Sustainable Energy Opportunities