QuotedData’s other news 23 March 2020

In QuotedData’s other news 23 March 2020 –

  • On 21 March 2020, the Financial Conduct Authority (FCA) requested that, in light of the unprecedented practical challenges for some companies and the audit profession arising from the Covid-19 pandemic, all listed companies who publish their preliminary results around this time, observe a moratorium on the publication of preliminary financial statements for at least two weeks. To this end, JPMorgan American (JAM) announced that although it does publish interim results, the board has taken the decision to delay the release of audited annual results for the year ended 31st December 2019, which were due to be released on 25th March 2020. JPMorgan US Smaller Companies (JUSC) also said it was delaying. It was due to publish annual accounts today.
  • AVI Japan Opportunity (AJOT) has said that in light of continued market volatility and uncertainty surrounding the ongoing pandemic, it will not be proceeding with the initial issue of up to 30m ordinary shares. As a result, the registrars have been instructed to return all money to investors who participated in the offer for subscription and intermediaries offer. However, subject to approval of the placing programme resolutions at the general meeting*, AJOT intends to utilise its placing programme to have the ability to issue up to 85m ordinary shares and/or C shares as and when markets conditions return to normality. The placing programme is still expected to open on 3 April 2020 and close on 2 March 2021.
  • NewRiver REIT (NRR) has said it will apply for the Covid Corporate Financing Facility programme using its Investment Grade credit rating. It is also working with its insurance brokers and insurers to make a claim for the business disruption caused by COVID-19 and for loss of rent. The company, which owns shopping centres, retail parks, convenience stores and pubs, has stress tested the business and said if it does not receive any pub income for the next six months, and a reduced income beyond this, and a significant reduction in its retail portfolio income for the next 12 months it is confident that it will remain compliant with its financial covenants for the next 12 months. The group added it has no bank or refinancing events until August 2023.

There continues to be a fluid stream of Covid-19-related updates.

This morning we have updates from BB HealthcareSynconaInternational Public PartnershipsDP Aircraft 1TwentyFour Income, SDCL Energy Efficiency Income, Pantheon International, (Malaysia and Vietnam-focused) Aseana Properties, as well as news of portfolio expansion from the renewable energy infrastructure companies, Greencoat Renewables and Aquila European Renewables Income. We also have annual results from CATCo Reinsurance Opportunities.

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