In QuotedData’s morning briefing 6 March 2025:
- Jupiter Green (JGC) says that holders of 10,584,126 shares opted to rollover into an equivalent open-ended fund while holders of 8,391,654 shares opted to receive cash. In the vote to approve the deal, shareholders voted overwhelmingly to approve the proposals but gave a convincing thumbs down (87.35% against to 12.65% in favour) to a proposal to provide extra compensation for the directors in connection with the extra work they put in to getting the scheme across the line. [I looked at the circular published in connection with the proposals and it didn’t look to me as though the directors had quantified how much extra they were looking for. Perhaps this was one reason why the idea was rejected.]
- The offer document for BBGI Global Infrastructure (BBGI) has been published. [Unless a counter bid emerges, I’d expect this to be wrapped up pretty soon]
- Chelverton UK Dividend (SDV) plans to issue new zero dividend preference (ZDP) shares with a maturity in 2031 to replace the 2025 zeros which are due for repayment at 30 April 2025. A new subsidiary, 2031 ZDPCo, will seek to issue up to a maximum of 15m new ZDP shares at a price of 100p per ZDP share, for a term of 5.75 years with a gross redemption yield of 7.5% and a cover ratio of at least 2.0x. Holders of the 2025 zeros will be able to rollover their position into the new issue if they choose. ZDPs not taken up under the rollover will be available for purchase.
- NewRiver REIT (NRR) has partnered with Royal Mail that will see it roll out of its new parcel locker network across NRR’s portfolio of shopping centres and retail parks. NRR will receive a modest income from the new partnership, and the new Royal Mail lockers will help drive additional footfall and customer spend for retailers.
We also have:
Smithson bids to turn performance around with focus on smaller end of its universe
Did you see yesterday:
Montanaro UK Smaller Companies announces surprise buyback, raising speculation of Saba exit
