QuotedData’s morning briefing 30 October 2020

In QuotedData’s morning briefing 30 October 2020 –

  • Augmentum Fintech (AUGM) successfully completed its placing and retail offer, with demand exceeding the issue size. Admission of the new shares to the LSE is expected on 3 November 2020. Tim Levene, CEO of AUGM’s manager, commented: “The success of this fundraise reflects the growing shift in the move to a digital economy over recent months and highlights that fintech has been a beneficiary of the accelerated digital adoption in financial services. The on-going disruption caused by COVID should maintain the momentum behind this trend and many of AUGM’s portfolio companies should continue to benefit from this growth.” Click here to read our earlier coverage of the placing.
  • Aquila European Renewables Income (AERI) has successfully completed the acquisition of a 100% interest in a Portuguese solar portfolio for approximately EUR 16m. The assets are located in the south of Portugal with an installed capacity of approximately 20 MWp. The announcement notes that the portfolio will save approximately 9,495 tonnes of CO2 emissions per annum and an estimated 284,855 tonnes over the projected lifetime of the project. The assets come with 5-year fixed-price power purchase agreements with a state-owned utility.
  • We had an update on the merger between Perpetual Income and Growth (PLI) and Murray Income (MUT). PLI, which is expected to enter liquidation on 17 November 2020, announced that “Under the realignment and transition plan, the proportion of the company’s portfolio that will be combined with that of MUT as part of the transaction is now fully aligned with Aberdeen Standard Investment’s (MUT’s manager) target portfolio for MUT as enlarged by the transaction. The remainder of the company’s original portfolio (being approximately 26% of assets), consists of cash, cash equivalents and holdings with high degrees of liquidity that have yet to be sold. These holdings will be realised in time to fund the final interim dividend, which is expected to be paid on 13 November 2020, payments to those shareholders that elect for the cash option under the Transaction and the company’s costs under the transaction.” The announcement goes on to note that Invesco Fund Managers will remain PLI’s manager until liquidation.
  • Troy Income & Growth (TIGT) announced Blake Hutchins has been appointed as co-manager, with effect from 30 October 2020. Blake will join the current management team of Francis Brooke and Hugo Ure. Blake is co-manager of the Trojan Income Fund. He joined Troy in 2019 from Investec Asset Management where he was lead manager on the UK Equity Income Fund and co-manager on the Global Quality Equity Income Fund.

We also have annual results from Asia Dragon.

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