In QuotedData’s morning briefing 2 September 2024:
- Premier Miton Global Renewables (PMGR) has announced a non-material change to its investment objective. It says that its Board has considered the Financial Conduct Authority’s Sustainability Disclosure Requirements (SDR) which come into force on 2 December 2024 and has confirmed that pursuant to the SDR’s voluntary labelling regime, PMGR will not seek to adopt a label for its products. The wording of PMGR’s investment objective refers to “sustainable” infrastructure investments and, in light of the SDR, as PMGR will not be adopting a label, its Board believes it would be prudent to change the word in quotation marks to “similar”. With immediate effect, PMGR’s investment objective is changed to: The Company’s investment objectives are to achieve a high income from, and to realise long-term growth in the capital value of its portfolio. The Company seeks to achieve these objectives by investing principally in equity and equity related securities of companies operating primarily in the renewable energy sector, as well as other similar infrastructure investments. PMGR says that there will be no change to how the investment portfolio is managed. The change will also be reflected in the wording of PMGR’s investment policy.
- Golden Prospect Precious Metals (GPM) has published its interim results for the six months ended 30 June 2024, during which its Nav rose 15.64% from 35.81p to 41.42p while the share price rose from 29.5p to 32.75p, giving a gain of 11.0%. Compared with equivalent ETFs it was just ahead of the major gold miners index (GDX, +10.1% in Sterling) and junior miners index (GDXJ, +10.8% in Sterling). GPM’s chairman, Toby Birch, says that the returns also ranked well against open-ended funds in the gold sector. He adds that, having endured three years where gold miners lagged the gold price, this may be the first tentative step in returning to their traditional role, of outperforming precious metals prices on the upside.
We also have:
- Merger proposals for Artemis Alpha and Aurora
- Downing Renewables & Infrastructure’s acquisition of three Swedish hydropower assets
- Oakley Capital’s sale of Ocean Technologies group
