Residential Secure Income (RESI) will make its first return of capital following the disposal of its retirement portfolio to Living REIT. The company will return £35.2m to shareholders via its B Share Scheme, equivalent to 19p per ordinary share, with the payment due on 25 August. It will also pay a 1.53p per share property income distribution on 18 September, taking the total distribution to about £38m. The distributions follow completion of the £108.3m retirement portfolio disposal, £45.0m of which was cash consideration. The smaller amount available for distribution reflects transaction costs (£3.9m) and the settlement of historic accrued expenses (£3.1m). RESI expects further returns of capital following the planned disposal of its shared ownership portfolio, for which net proceeds of about £13.5m are anticipated, subject to completion and adjustments. The company expects that transaction to complete by the end of September.

Saba has completed the sale of its remaining holding in Schroder UK Mid Cap (SCP) following the tender offer in June that was designed to give the US activist an off ramp.

Mining fund Grit Investment Trust (GRIT) has terminated a potential reverse takeover of Planet Scan AG, a Swiss headquartered unlisted private company developing a copper mine in Turkey after just over two weeks of talks. This is the second failed takeover attempt by GRIT in a matter of months following the termination of takeover talks with Nabirm Global, a privately held, oil and gas exploration company in Namibia. GRIT says that it will now consider its options, including seeking alternative acquisition opportunities and seeking a cancellation of its listing. Trading in GRIT’s shares remains suspended.