In QuotedData’s morning briefing 3 June 2025: Menhaden Resource Efficiency, abrdn Asia Focus, The Renewables Infrastructure Group, and Sirius Real Estate.
- Menhaden Resource Efficiency’s (MHN) liquidator says that the second liquidation payment of 51p per share will only be paid by cheque – posted first class on 4 June. [It is interesting how archaic this sounds. No explanation was given. It does seem odd given that for some people this may be a reasonably large amount of money.]
- The final date to convert abrdn Asia Focus’s (AAIF) 2.25% convertible unsecured loan stock into shares in the company was 31 May 2025. The company received conversion requests in respect of £19,749,216 nominal of CULS and redemption requests in respect of £5,578,398 nominal of CULS. For those that did not choose, an independent trustee has opted to convert the CULS, sell them, and pay the proceeds to the holders. In total, 10,562,933 new shares have been issued. To replace (most of) the gearing, the company has secured and drawn down a new revolving credit facility – £35m (with an option to up this to £50m) from The Bank of Nova Scotia London Branch, this will expire on 28 May 2027.
- The Renewables Infrastructure Group (TRIG) has published a sustainability report, which you can read here.
- Sirius Real Estate (SRE) has made the interesting appointment of a strategic defence adviser, with defence related demand for real estate set to rise in the UK and Europe. It has appointed Major General (Retd) Angus Fay to the role. An anticipated €900bn of infrastructure and defence spending is expected in Germany, while the UK has just published its Strategic Defence Review. SRE estimates that up to 20% of its portfolio is suitable for defence-related purposes, with much of its estate having been in military use in the past, whether as factories or transport hubs for military logistics. Angus Fay spent 37 years in the British Army, specialising in military logistics.
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