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- QuotedData’s morning briefing 30 May 2024 – JZCP, MINI, PCGH
In QuotedData’s morning briefing 30 May 2024:
- JZ Capital (JZCP) is calling a meeting of shareholders to ask them to make the company’s ordinary shares redeemable. That will help expedite returns of capital as the company continues its managed wind down. Separately, it announced results that showed its NAV was not much changed over the 12 months ending 29 February 2024 – ending the year at $4.08, up 2 cents. Profits in the US micro cap portfolio were offset by falling values in Europe. [This trust is almost the poster child for “stick to what you know” – if it had not strayed from its US micro cap focus, it would probably be a much larger, popular, and more successful company.]
- Miton UK Microcap (MINI) made an error in valuing three unlisted warrants within its investment portfolio. This meant that its NAV was marginally overstated between 1 March 2024 and 16 April 2024. The effect was most pronounced on 16 April when the published NAV was 55.82p but should have been 55.66p – just 0.28% too high. [not worth worrying about]
- As planned, Polar Capital Global Healthcare (PCGH) has kick-started the process for paying the final maturity amount to its zero dividend preference shareholders and winding up the subsidiary that issued them. Trading in the prefs will stop on 14 June. Money will be paid out on 20 June. The trust is funding this from its cash position.
We also have stories on:
GCP Asset Backed ends all offer talks, will start handing back cash
No dividends from Harmony this year as it looks for buyers for some or all of its assets
LondonMetric swaps unwanted LXi retail assets for urban warehouses
Hi how can i get your morning briefing each morning? I already receive your monthly and quarterly investment trust information.
Hi Ian, currently we make you come to the website. We are thinking about if we can improve this service. Will let you know.