QuotedData’s other news 4 February 2020

In QuotedData’s other news 4 February 2020

  • Gore Street Energy Storage is raising money – £1.5m has been promised by two specialist ESG funds and they are subscribing for shares at 95.5p (the last published NAV). The fund is asking other professional investors whether they want to buy shares at the same time. The money will be invested in new energy storage projects.
  • Standard Life Investments Property Income has reported a small fall in its NAV over the last three months of 2019 (from 90.3p to 89.9p). With income, the return for the quarter was 0.9%, well ahead of the IPD/MSCI index which returned -1.0% over the same period. On an EPRA basis, the fall in the NAV was greater – from 91.2p to 90.2p.
  • CPI Property has increased its stake in Globalworth again and now holds over 29% of the company. Two more directors sold them sizeable stakes in the company – Dimitris Raptis (deputy CEO) sold 560,000 shares for about €5.4m and Eli Alroy, a non-exec director, sold €10.7m worth. Ioannis Papelakas, the CEO sold €54m worth of shares on 17 January before the massive sale announced yesterday. Shareholders will be wondering what is going on, we think they deserve an explanation. CPI is a listed company investing in Eastern European property that is 91.6% owned by Radovan Vitek, a Czech billionaire.

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