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16 Feb 2021

JLEN Environmental expanding remit

JLEN Environmental expanding remit – JLEN Environmental hopes to widen what it is allowed to invest in. Shareholders need to approve the change. Under the planned revised investment policy, the company will continue to seek to achieve its investment objective by investing in a diversified portfolio of environmental infrastructure. However, the definition of “environmental infrastructure” […]

16 Feb 2021

QuotedData’s morning briefing 16 February 2021

In QuotedData’s morning briefing 16 February 2021: GCP Student Living (DIGS) has terminated WeWork’s lease on the commercial space at Scape Shoreditch. The 50,000 sq ft Grade A space is just a two-minute walk from Old Street Underground. WeWork had £2.3m of rent arrears up to the end of 2020. GCP Student Living has collected £3.1m […]

15 Feb 2021

Grit Real Estate reports 6.3% increase in NAV

Grit Real Estate, which invests in pan-african real estate assets (ex South Africa) has reported a 6.3% increase in EPRA net reinstatement value (NRV – one of the new EPRA reporting metrics for property companies replacing EPRA net asset value (NAV)) – over the six months to the end of December 2020. This increase (from […]

15 Feb 2021

NextEnergy Renewables publishes prospectus

NextEnergy Renewables publishes prospectus – NextEnergy Renewables has announced the publication of a prospectus in relation to its initial public offering (IPO). As promised, here is a link to the prospectus, which was published today. As the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these. As […]

15 Feb 2021

Cordiant Digital raises £370m

Cordiant Digital raises £370m – Cordiant Digital Infrastructure Limited has successfully raised gross proceeds of £370m through its placing and offer for subscription of ordinary shares and issue of subscription shares at an issue price of 100p per ordinary share. Subscription shares will be issued to subscribers in the initial issue for nil value on the […]

15 Feb 2021

St Peter Port Capital proposes auctioning off its remaining assets 

St Peter Port Capital proposes auctioning off its remaining assets – the board of St Peter Port Capital Limited is considering auctioning off all the company’s assets and then returning the net cash proceeds to shareholders (less a small amount to cover the costs of an orderly liquidation). The shareholder consent for the appointment of a […]

15 Feb 2021

QuotedData’s morning briefing 15 February 2021

In QuotedData’s morning briefing 15 February 2021: Tritax EuroBox (EBOX) has sold its asset in Lodz, Poland for €65.5 million, 15% above its most recent valuation at 30 September 2020 and, based on the company’s target gearing of 45%, delivering an attractive geared IRR of 16.5% to shareholders. They bought this is April 2019 and completed a […]

12 Feb 2021

QuotedData’s weekly news show 12 February 2021

QuotedData’s weekly news show 12 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Immunocore upsized IPO (RTW Ventures – RTW – and Schroder UK Public Private – SUPP) Greencoat UK Wind […]

12 Feb 2021

QD view – From infectious enthusiasm to IPO fever?

Back in December, we published a note on BlackRock Throgmorton, which we called “Infectious enthusiasm”. In it, we tried to bring out the excitement that its manager, Dan Whitestone, had about the future of the companies in his portfolio, and by implication the future of the trust. Over the two months since, the trust’s share […]

12 Feb 2021

QD view – Cheers to the property dividend hikes

After witnessing the anguish of property companies slashing dividends left, right and centre, at the start of the pandemic last year, it is encouraging to see news of dividend hikes now filtering through. Not all companies have experienced tenant distress during the crisis, and it is good to see that investors are being rewarded with a […]

12 Feb 2021

Target Healthcare REIT to raise £50m in placing

Care home investor Target Healthcare REIT has announced its intention to raise £50m through a placing to fund new acquisitions. The issue price of 111p per share represents a discount of 4.8% to last night’s closing price of 116.6p and a 2.6% premium to its last reported EPRA net asset value (NAV) of 108.2p (at […]

12 Feb 2021

Scottish American outperformance driven by resilient operational performance

Scottish American (SAIN)has announced its annual results for the year to 31 December 2020, during which it has outperformed global equities, driven by resilient operational performance of its investee companies. Some key take-aways from the report are as follows: Dividend – the full year dividend, including a recommended final dividend of 3.00p, is 12.00p per […]

12 Feb 2021

Greencoat UK Wind launches £198m institutional placing

Greencoat UK Wind (UKW) has announced a placing in which it is seeking to raise up to £198 million  by way of a non-pre-emptive issuance to institutional investors at 131p per share. Proceeds from the Placing will be used to repay or reduce borrowings under UKW’s revolving credit facility to allow it to fund its pipeline […]

12 Feb 2021

TRIG acquires the Grönhult onshore wind farm in Sweden

The Renewables Infrastructure Group (TRIG) has announced that it has acquired the Grönhult onshore wind farm in Sweden. Grönhult is a 67.2 MW ready-to-build onshore wind farm located in the southwest of Sweden. The Grönhult project is being acquired from Vattenfall, the leading Swedish utility and a major developer of renewables, who will also manage the […]

12 Feb 2021

Apax Global Alpha – Apax X acquiring majority stake in Herjavec Group

Apax Global Alpha (AGA) has announced that, on 11 February 2021, the Apax X Fund, in which AGA is a limited partner, announced that it has entered into a definitive agreement to acquire a majority stake of Herjavec Group (HG), a global Managed Security Services Provider (MSSP) and cyber operations leader. The transaction is expected […]

12 Feb 2021

QuotedData’s morning briefing 12 February 2021

In QuotedData’s morning briefing 12 February 2021 Tetragon Financial are holding an investor call on 26 February 2021 at 3pm (UK time) to discuss its annual report and to provide a company update. The audio conference call may be accessed by dialling +44 (0) 800 358 9473 in the United Kingdom and +1 855 857 0686 […]

11 Feb 2021

Warehouse REIT buys four warehouses in Liverpool

Warehouse REIT buys four warehouses in Liverpool – Warehouse REIT has bought four modern warehouse units on Boulevard Industry Park in Speke, Liverpool, totalling 390,000 sq ft. The purchase price of £35m reflects a net initial yield of 5.5%. Ranging from 74,000 sq ft to 163,000 sq ft, the units are occupied by three separate occupiers […]

11 Feb 2021

Syncona backs Quell financing

Syncona backs Quell financing – Syncona Ltd  has made a new £25.3m commitment to a £61.0m expanded Series A financing for Quell Therapeutics. This is the largest amount of funding to date for any stand-alone engineered T regulatory cell (Treg) company [see below] and takes Syncona’s total commitment to this business to £59.3m (of which £35.1m […]

11 Feb 2021

QuotedData’s morning briefing 11 February 2021

In QuotedData’s morning briefing 11 February 2021: Schroder European Real Estate says that at its Metromar shopping centre in Seville (which it owns in a 50/50 joint venture) one of the fashion anchor tenants will exercise its lease termination right. This termination accounts for approximately 3,000 sqm (14%) of the total space. The rent due will continue […]

10 Feb 2021

BlackRock Throgmorton has an excellent year

BlackRock Throgmorton’s (THRG) annual results to 30 November 2020 saw it deliver a NAV total return of 9.1%, which was well ahead of the benchmark return of 3.8%. THRG’s market return was 8.2%, in another strong year for the UK smaller companies fund. Ability to short a defining feature but strong performance led by long positions […]

10 Feb 2021

QuotedData’s morning briefing 10 February 2021

In QuotedData’s morning briefing 10 February 2021 – Syncona, a leading healthcare company focused on founding, building and funding global leaders in life science, made note of the news that its portfolio company, Autolus Therapeutics announced the pricing of its underwritten public offering in the United States of 14,285,715 American Depositary Shares (“ADSs”) representing 14,285,715 […]

09 Feb 2021

St Modwen ramps up logistics exposure

St Modwen Properties has continued its focus on the thriving logistics property sector, which now accounts for 49% of its portfolio. In full year results to the end of November 2020, the company said this had grown from 39% a year previously and would accelerate growth. The group also has a strong focus on the […]

09 Feb 2021

UK Mortgages sells two portfolios

UK Mortgages sells two portfolios – UK Mortgages Limited says that, on Friday 5th February 2021, UK Mortgages Corporate Funding Designated Activity Company signed agreements under which, Godiva Mortgages Limited, a subsidiary of Coventry Building Society has made a commitment to purchase two buy-to-let mortgage portfolios originated by Godiva and currently financed within the Cornhill No.6 […]

09 Feb 2021

QuotedData’s morning briefing 9 February 2021

In QuotedData’s morning briefing 9 February 2021 Nippon Active Capital looks to have scored a win as Mr. Shintaro Matsuki, President of Sakai Ovex Co., Ltd, using a special purpose company, Sakai Textile Co., Ltd., has launched a tender offer at ¥ 2,850 per common share for all of the outstanding equity capital of Sakai Ovex. […]

08 Feb 2021

Utilities weigh on BlackRock North American Income’s annual returns

BlackRock North American Income (BRNA) annual results to 31 October 2020 brought total NAV and market returns of -8.9% and -17.9%. By comparison, the benchmark Russell 1000 value index returned -7.5%. Performance – stock selection in utilities weighs BRNA’s underperformance of the benchmark was a reflection of stock selection, allocation decisions in utilities, and a negative contribution from […]

08 Feb 2021

QuotedData’s morning briefing 8 February 2021

In QuotedData’s morning briefing 8 February 2021 – Gabelli Value Plus+ (GVP) announced that it intends to convene a general meeting in July 2021 to consider a continuation vote resolution followed by a special resolution to place the company in members’ voluntary liquidation. GVP’s largest shareholder, Associated Capital Group, has irrevocably undertaken to abstain from […]

05 Feb 2021

QuotedData’s weekly news show 5 February 2021

QuotedData’s weekly news show 5 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: IPO boom – Next Energy Renewables, Digital 9 Infrastructure and Great Point Entertainment Round Hill Music update He […]

05 Feb 2021

QD view – Property tinkermen worth their weight in gold

There can be no doubt that the COVID-19 pandemic has changed the landscape in the property sector forever. So, it has been interesting to observe how different property companies have responded with the composition of their portfolios. Any manager worth their salt would have been exiting high street retail a long time ago. But it […]

05 Feb 2021

QD view – something new to get your digits on

Reviewing the planned IPOs of Cordiant Digital Infrastructure and Digital 9 Infrastructure. For an industry that was once considered a bit of a dinosaur, the investment company sector has undergone a remarkable transformation over the past decade. A realisation that, if you want to invest in assets that aren’t easy to sell in a hurry, […]

05 Feb 2021

Warehouse REIT announces fundraise and Harlow acquisition

Warehouse REIT (WHR) has, in two separate releases, announced the acquisition of two adjacent distribution warehouses in Harlow as well as a fundraise that aims to raise gross proceeds of up to £45.9 million. The two warehouses total 177,000 sq ft and were purchased for £13.9 million including costs. The combined property generates £1.2 million […]

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