Following its announcement on 18 November 2024 that its board had concluded that a voluntary liquidation would be in the best interests of its shareholders, Miton UK MicroCap (MINI) says that its board has agreed non-binding heads of terms with Premier Miton that will give its shareholders the option to roll over their investment into […]
Ground Rents Income Fund has rejected an improved proposal to buy the company, which values it at around £35.9m. The board said the possible offer, by Victoria Property Holdings (which made a previous proposal in early January that valued it at £32.5m), “remains unattractive and materially undervalues the company”. Ground Rents’ NAV at 30 September […]
In QuotedData’s morning briefing 31 January 2025: ICG-Longbow Senior Secured UK Property Debt (LBOW) has issued an update in which it says it continues to make progress in exiting its three final investments in what remain challenging market conditions. The asset securing the Affinity loan has been placed under offer for sale following a competitive bidding […]
As at 31 December 2024, Chrysalis Investments’ unaudited NAV was 156.62p. That is a 15.36p (11%) increase since 30 September 2024. Most of the increase came from an uplift in the fair value of the portfolio (+11.38p), foreign exchange moves added 1.39p, and the share buyback added 2.76p; other income, fees and expenses make up […]
Patria Private Equity has published results covering the 12-months ended 30 September 2024. Over that period, its NAV total return was 2.4%. However, a narrowing of its discount from 43.2% to 31.4% helped generate a return to shareholders of 24.9%. The dividend rose to 16.8p from 16.0p. Highlights: Portfolio return in local currency – The […]
Over the course of 2024, the board of HarbourVest Global Private Equity (HVPE) says it consulted extensively, listened to and reflected on the views of a broad range of shareholders. The board strongly believes in the importance of funds such as HVPE in democratising private equity ownership for all investors. However, it shares the frustrations […]
In QuotedData’s morning briefing 30 January 2025: Dunedin Enterprise (DNE) says it has made a first distribution payment under its liquidation of £3.52 per share AEW UK REIT (AEWU) has reported a NAV uplift of 0.9% to 110.02p per share over the quarter to 31 December 2024. This produced a NAV total return of 2.7% […]
Oakley Capital Investments (OCI) has published a trading update for the year ended 31 December 2024, during which it provided an NAV total return of 2% (15p) or 6% (+40p) excluding the impact of foreign exchange, and a share price total of 3%. OCI’s unaudited NAV, based on a revaluation of all portfolio companies at […]
The independent proxy adviser ISS has published its voting recommendation in relation to the general meeting of The European Smaller Companies Trust (ESCT) in which it recommends that ESCT shareholders VOTE AGAINST ALL of the proposed resolutions that have been put forward by Saba Capital, at the general meeting that is to be held on […]
BH Macro has announced that, following the publication of its final month-end Net Asset Values for 31 December 2024, the class closure resolution procedure contained in its articles of incorporation has been triggered in respect of the year ended 31 December 2024 for both classes of its shares. This is because the average daily closing […]
Greencoat UK Wind (UKW) published an update. It says that its NAV as of 31 December 2024 is £3,409m (151.2p per share), which is a decrease of 7.4 pence per share from the NAV at 30 September 2024. The movement in NAV was primarily the result of a revision to energy yield estimates across the […]
In QuotedData’s morning briefing 29 January 2025: Literacy Capital (BOOK) has published a portfolio update. It says that, while confidence and business activity across the UK was clearly adversely affected both in the run up to, and subsequent to, the government’s Budget announcement on 30 October 2024, very few of its businesses are in sectors […]
Edinburgh Worldwide has announced that shareholders on Lloyds-owned platforms can now vote in the 14th February general meeting after resolving platform issues. If you are an investor in Edinburgh Worldwide through Scottish Widows, Embark, or Stock Trader, you should now have the option to vote. Previously, Lloyds had tried to claim that these votes were […]
In QuotedData’s morning briefing 28 January 2025: Bluefield Solar (BSIF) will pay its first quarterly dividend of the new financial year on 7 March. The 2.2p dividend is the first of what is targeted to be 8.9p for the full year (up from 8.8p), which is expected to be covered by earnings post debt amortisation. […]
Kailera, a portfolio company of RTW Biotech Opportunities (RTW), has announced positive topline data from the 8 mg dose of Hengrui Pharmaceutical’s Phase 2 clinical trial (HRS9531-203) of HRS9531, a GLP-1/GIP receptor dual agonist, in individuals living with obesity or overweight. The clinical trial results showed that a once-weekly subcutaneous injection of the 8 mg […]
The independent proxy advisors Glass Lewis and ISS have both published recommendations for shareholders of Henderson Opportunities Trust (HOT) in which they recommend HOT shareholders VOTE AGAINST all of the resolutions put forward by Saba Capital Management at the requisitioned general meeting that is being held on 4 February 2025 at 10am. HOT’s board’s message […]
Smithson (SSON) has published its letter to shareholders that is also its investment manger’s review for 2024. Simon Barnard, SSON’s investment manager, says that after a strong market sell-off in the last few days of the year, SSON’s final performance for 2024 can only be described as mediocre. He notes that it will also be […]
Patria Private Equity Trust (PPET) has agreed a three-year extension of its syndicated revolving multi-credit facility agreement (a loan facility) that takes effect from 3 February 2025 and also sees the amount available to borrow increasing from £300m £400m. Banco Santander, S.A. and State Street Bank & Trust Company are joining the syndicate of banks […]
In QuotedData’s morning briefing 27 January 2025: Odyssean Investment Trust (OIT) says that, following a review of its operational arrangements, NSM Funds (UK) Limited has been appointed as its company secretary with immediate effect. Reflecting this, the trust’s registered office will change to 46-48 James Street, London W1U 1EZ. CVC Income & Growth (CVCE) has […]
Saba Capital’s (Saba) requisitioned meeting to oust the existing board and install two of its own nominees in its place is scheduled for 14 February. However small your shareholding, make sure you vote. Saba has built up a significant stake to force through its agenda while carefully avoiding breaching the limit at which it would […]
The independent proxy adviser ISS has published its recommendation in relation to the upcoming requisitioned general meeting for Keystone Positive Change (KPC) in which it recommends that KPC shareholders “VOTE AGAINST” all the resolutions proposed by Saba Capital. ISS states that Saba Capital has not presented a compelling case for change, let alone a case […]
All three of the major independent proxy advisers – Glass Lewis, ISS and PIRC – have published voting recommendations in relation to Baillie Gifford US Growth Trust’s (USA’s) upcoming requisitioned general meeting in which they all recommend that shareholders VOTE AGAINST ALL of resolutions proposed by Saba Capital. Furthermore, all three of these industry-leading governance […]
The independent proxy adviser, Glass Lewis, has published a voting recommendation in relation to The European Smaller Companies Trust’s upcoming requisitioned general meeting in which it recommends that shareholders VOTE AGAINST ALL of resolutions proposed by Saba Capital. So far, all of the recommendations that have been issued by all of the independent proxy advisers […]
Following an announcement on 8 November 2024 that its board was reviewing a range of options available for its future in advance of a continuation vote scheduled for September 2025, SVM UK Emerging (SVM) says that, after careful consideration, its board “does not believe that any of the options for the continuation of the Company […]
abrdn European Logistics Income (ASLI) has sold the first three assets as part of its managed wind-down for €45.4m. Sale of warehouse in Oss, The Netherlands The company has concluded the sale of the freehold of the 12,384 sqm warehouse located in Oss, The Netherlands, for consideration of €15.7m. The asset, constructed in 2019 and […]
CQS Natural Resources Growth and Income (CYN) has issued a statement this morning reminding shareholders to vote in the upcoming general meeting (details of which are below, including all of the voting deadlines for the individual platforms) in which it urges shareholders to vote against the resolutions requisitioned by Saba Capital Management. The deadline to […]
In QuotedData’s morning briefing 24 January 2025: Starwood European Real Estate Finance (SWEF) has published a new quarterly portfolio update for the quarter ended 31 December 2024. The update says that the orderly realisation of the portfolio is progressing (to date, SWEF has returned £210.0m to shareholders through compulsory redemptions since the orderly realisation strategy […]
In QuotedData’s morning briefing 23 January 2025: Triple Point Energy Transition (TENT) has issued a circular, convening a meeting to liquidate the company. The managed wind-down is effectively complete, the company is just waiting on some deferred sale proceeds. There’s cash of £47.6m, which accounts for most of the NAV of 49.3p per share. If […]
In what is a resounding victory for shareholder engagement and protecting the rights of all shareholders, Herald’s requisitioned general meeting has seen the proposals by Saba Capital LLC to remove all of the existing board and replace them with just two of its own representatives voted down convincingly. At today’s meeting, Herald shareholders voted against […]
The proxy adviser Glass Lewis has recommended that shareholders vote AGAINST Saba’s requisitioned resolutions for CQS Natural Resources Growth and Income (CYN) at the upcoming general meeting. The Glass Lewis recommendation is in line with the unanimous recommendation of CYN’s board, which continues to urge shareholders to VOTE AGAINST the proposed requisitioned resolutions for the […]
