Workspace Group (WKP) has received a revised requisition from Saba Capital Management (which has interests of around 21.12% in the company) requesting the removal of all six board members to be replaced by its nominees. It had initially sought the removal of five of the six directors in a requisition notice earlier this month, but has now added Manju Malhotra to the list. The six new directors proposed by Saba are Nick Shattock, Andrew Sim, Richard Starr, Gregory Attwood, Gautam Garg and Simon Hampton. In January, Saba proposed the company conduct a managed wind-down over a 12-month period to address the discount to NAV. The board concluded that the proposal was not achievable, nor would maximise value for shareholders, stating that it firmly believes in the strength of the company’s existing strategy. It is reviewing the latest requisition and advises shareholders take no action at this time.
CT UK Capital and Income Investment Trust (CTUK) half year numbers lagged the benchmark, with net asset value (NAV) total return at 0.6% and share price total return declining by 1.2%, behind the FTSE All-Share Index return of 8.9% in the six months to the end of March. Against a volatile market backdrop, performance was impacted primarily by the portfolio’s underweight exposure to several large benchmark constituents that drove index returns, notably HSBC, AstraZeneca, BP and Shell, as well as a significant negative contribution from Burford Capital following an adverse litigation outcome. The period marked the introduction of a refreshed investment approach under new fund manager Dominic Younger, centred on a “value-oriented contrarian strategy” designed to enhance income generation and support long-term capital growth. The portfolio is increasingly focused on out-of-favour companies undergoing strategic change, where the manager believes market valuations do not fully reflect future cash flow potential. The company announced a total interim dividend to 6.2p, up 5.1% year-on-year and ahead of inflation. This extends the company’s long-standing track record of dividend growth, with the board expecting to deliver a 33rd consecutive annual increase. The interim dividend was only 90% covered by earnings, however, with stronger income anticipated in the second half.
Helical (HLCL) reported a highly active year advancing its central London development pipeline, increasing leasing activity and recycling capital into new opportunities. The company made strong progress across more than 700,000 sq ft of office developments under construction, with two schemes totalling 270,000 sq ft due for completion within the next eight months into a market with very limited new-build office supply. EPRA earnings per share increased to 4.5p from 2.2p over the year to 31 March 2026, reflecting the increased development profits recognised in the year. Total dividends for the year was 2.5p (halved from 5p last year), although the company has proposed the return of £17m (13.9p) from the realised profits on the sale of 100 New Bridge Street, EC4. EPRA net tangible asset (NTA) per share increased slightly to 351p from 348p), with portfolio values increasing 0.5% overall, with development assets up 5.0%.
Cordiant Digital Infrastructure‘s (CORD) portfolio company Emitel has launched data centre services, acquiring a data centre just outside Warsaw, in Poland, with 2MW of total load capacity and scope for future expansion. CORD says that this deal further cements Emitel’s position as Poland’s leading digital infrastructure and telecommunications provider. The new facility, which has been developed to Tier III+ reliability standards, currently offers co-location, cloud computing and data processing services to Polish and pan-European enterprise customers.
