QuotedData’s other news 14 June 2019

In QuotedData’s other news 14 June 2019:

  • Utilico Emerging Markets has published its annual report covering the year ended 31 March 2019. In a year where the MSCI Emerging Index delivered a zero return, the trust at least managed some positive performance, generating an NAV return of 3.5%. Shareholders also benefited from a narrowing discount. The dividend was increased by 2.9% to 7.2p. QuotedData’s James Carthew recently wrote an article on this trust for Investment Trust Insider.
  • St Peter Port Capital had six investments left at its year end of 31 March 2019, valued at £10.4m. The NAV fell to 17.2p from 20.7p despite gains on foreign exchange of 1.2p per share. Lynn Bruce, chairman of St Peter Port, said:
    Although most of our portfolio companies have reported positive news during the period under review, the fact remains that none of them have yet reached an inflection point that would allow us to unlock value at any sensible valuation. We have for some time been exploring ways of maintaining the portfolio substantially in tact whilst reducing what will become, absent a sale of one or more of our investments, an economically unviable company.”
  • Hg Capital raised £63.7m by issuing 29,352,828 shares in its placing, a little shy of the £80m it was after but the first successful fundraise by an existing private equity trust in some time.
  • Augmentum Fintech confirmed that it is looking to expand. Initially, it wants to raise £30m and we are pleased to say that this issue is not reserved just for professional investors. As always, we can’t advise you one way or the other and if you are unsure about whether to invest, it is best to consult a financial adviser.
  • Kubera Cross Border says its Planetcast Media investment was finally sold today for a consideration, net of transaction costs and the former manager’s co-investment proceeds, of INR 1,419 million, representing a 4% decrease in the consideration price agreed on the 17 March 2017. This is equivalent to USD 20.0 million at current exchange rates. The board will make a distribution of cash to shareholders.
  • NewRiver REIT confirmed that it was unaffected by the Arcadia CVA.

We also have news of Tritax EuroBox spending €50m, results and a tender from Alpha Real Trust and results from Martin Currie Asia Unconstrained


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