QuotedData’s other news 24 February 2020

QuotedData’s other news 24 February 2020 –

  • The flexible investments company, UIL (UTL) reported interim results to 31 December 2019. The company noted in the report that following six years of significant rising NAV, its total return performance softened was (4.3%) for the half-year to 31 December 2019. Much of this underperformance is due to stronger sterling, which was up 4.1% against the US dollar and 3.9% versus the Australian Dollar. UIL underperformed the FTSE all-share index total return over the same period, which was up by 5.5%.
  • Warehouse REIT (WHR) has provided an update on property valuations. At 31 January 2020, the portfolio was independently valued at £464.8m (30 September 2019: £438.7 million). After taking into account net investment activity and portfolio capital expenditure in the period since 30 September 2019, the portfolio valuation increased £15.1m on a like-for-like basis. This represents an increase of 6.3 pence per share, based on 240,254,043 ordinary shares in issue. The company recently announced it is contemplating an equity raise (click here to read more on this). Any such fundraising is expected to follow the publication of a prospectus and further details will follow in due course.
  • JPMorgan Global Growth & Income (JPGI) announced that, as at 8.00 a.m. on 26th February 2020, the company’s London Stock Exchange ticker will change to JGGI. It is thought that the change should help investors to more easily identify the shares on the LSE and investment platforms, when they use the initials of the company (JPMorgan Global Growth & Income). All other company details will remain the same, including the Company’s name, ISIN, SEDOL and LEI. The company’s New Zealand Stock Exchange ticker (JPG) will also remain the same.
  • US Solar Fund (USF) said that further to the update on 21 February 2020, the board have since been advised that the relevant banks had successfully recovered a further $2.7m which has been returned to USF-controlled accounts. This relates to the payment fraud announced on 30 January 2020. Together with the $3.6m recovery announced on 31 January 2020, total recovery stands at $6.3m of the $6.9m transferred. The board does not expect the $0.6m not yet recovered to have any impact on the next, or any subsequent, estimate of NAV.
  • VPC Specialty Lending (VSL) announced that SVS Opportunity Fund has acquired 16.61% of the outstanding share capital in VSL from a major shareholder in the company. SVS is a newly formed investment vehicle managed by Victory Park Capital Advisors and backed by a large US insurance company, alongside the manager and certain of its principals. The announcement goes on to note that, pro forma for the contribution of existing shares owned by the manager and its principals, SVS owns 18.12% of the company.

We also have an updates from Henderson Alternative Strategies on its future, JZ Capital Partners on write-downs involving its real estate portfolio and Oakley Capital Investments on its portfolio.

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