QuotedData’s morning briefing 23 May 2024 – BGLF, CRS, INOV, IPU

In QuotedData’s morning briefing 23 May 2024:

• Blackstone Loan Financing (BGLF) will hand back €23m to its shareholders by way of a compulsory partial redemption of up to 24,779,142 shares on 10 June 2024. On this basis, a holder of 10,000 shares will have 559 shares redeemed, and receive €518.86 in cash.
• Crystal Amber (CRS) will continue its share buyback programme for the period to 30 June 2024. Since 8 December 2023, £7.5m has now been utilised in the programme and from now until 30 June 2024, the company intends to buy back up to an additional £2.5m worth of shares.
• Schroder Capital Global Innovation (INOV) says that its NAV has fallen by another 9.9% over the first quarter of 2024 and now stands at 22.82p. OcuTerra’s phase II diabetic retinopathy trial failed to meet its endpoints. This subsequently resulted in the position being valued to zero. Meanwhile, shares in Oxford Nanopore fell 42% over the period, with recent results falling short of analysts’ consensus estimates. [I recently interviewed Harry Raikes, one of the co-managers of this trust, for Asset TV – you can watch this here.]
• Invesco Perpetual UK Smaller Companies (IPU) is offering its shareholders an exit opportunity at a 2.5% discount to NAV for up to 10% of the company. More details will follow.
• It feels as though the election spells bad news for the campaign to address the cost disclosure issue. The Alternative Investment Fund Designation Bill passed its third reading in the House of Lords last week and should now be being considered in the House of Commons, but all work now stops until after the election.