VPC Specialty Lending Investments (VSL), a £46m loan fund in the midst of a lengthy wind-down, is seeking shareholder approval to ratify its oversight in failing to hold a five-yearly continuation vote at the AGM on 11 June. A general meeting has been called for 22 September to propose a resolution to release the fund and its directors from their obligation to propose a continuation resolution.
Tufton Assets (SHIP) has sold Neon, a mid-size carrier of liquified petroleum gas that accounted for 7% of assets for $23.5m, 2.6% above its 30 June valuation. Over seven years of ownership, SHIP made an annual net return of 13.5% on the vessel, above its 12% target. The company now has 19 vessels and says after a difficult first half market conditions have improved in its major segments of product tankers and bulkers. The board and investment manager will consider reinvesting in another vessel or return capital to shareholders.
The Third Point Investors (TPOU) action group has failed in its challenge to a Takeover Panel decision that hedge fund manager Third Point was obliged to make a mandatory offer for the investment company in relation to its controversial reverse takeover of Malibu Life. The full story is here.
RTW Biotech Opportunities (RTW) will join the FTSE All-Share index on 22 September following the decision of index provider FTSE Russell to admit securities trading in non-sterling currencies. Chair William Simpson said the move was “likely to enhance our exposure to investors” and “develop greater UK and international investor awareness of RTW Bio”.
Assura (AGR) expects to delist on 6 October following the announcement by Primary Health Properties (PHP) that it had sent compulsory acquisition notices to shareholders in relation to its recommended cash and shares offer.
Ashoka India Equity (AIE) received requests to sell 2.5m, or 1.5%, of its shares in this month’s redemption opportunity. The price at which they will be sold will be announced shortly.
