QuotedData’s morning briefing 12 July 2024 – OIT, SBO, SRE

In QuotedData’s morning briefing 12 July 2024:

• Odyssean Investment Trust (OIT) has announced a placing and retail offer of shares. The company has received interest from an investor wishing to acquire OIT shares and in light of this and the ongoing demand in the market, the board has decided to undertake a placing. Any shares issued pursuant to the placing will be issued at a price equal to a 1.0% premium to the last published cum-income NAV per share prior to the closing of the placing. The isssue price is expected to be announced on 17 July 2024. 
• Schroder British Opportunities (SBO) announced the acquisition of its holding in the British semiconductor company Graphcore by SoftBank Group. SBO originally backed Graphcore in late 2020. SBO will receive back its original capital investment in the company, less some expenses. SBO had been valuing its holding in Graphcore at a lower value, and so this sale will result in an uplift of 22% on the latest (Q1 2024) valuation. The impact on the overall net asset value of SBO will be approximately +68 bps.
• Further to its £150m capital raise announced yesterday, Sirius Real Estate (SRE) has raised another £2.5m from retail investors. The new shares will be admitted to trading on 16 July.

We also have an update from Chrysalis Investments and an annual report from Miton UK Microcap.