TRADING UPDATES: CAP-XX raises funds; Shanta Gold dividend
21st Mar 2024 20:03
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday. Read More
(Alliance News) - Abrdn Property Income Trust Ltd on Thursday provided an update on the proposed all-share merger with Custodian Property Income REIT PLC. Read More
<p>(Alliance News) - Custodian Property Income REIT PLC on Wednesday said that it believed the proposed merger with abrdn Property Income Trust Ltd had a "compelling strategic and financial rationale", as the pair agreed to extend the merger commitment date to Friday. <br /><br />Custodian and abrdn are real estate investment trusts with a portfolio of properties in the UK.<br /><br />In January, the pair agreed terms for an all-share merger, which would create a real estate investment trust with combined assets totalling GBP1.0 billion.<br /><br />Per the agreement, abrdn Property Income shareholders will receive 0.78 new Custodian shares for each share in the company.<br /><br />On Tuesday, Custodian reaffirmed its belief that the merger holds a "compelling strategic and financial rationale".<br /><br />The company said that it would be waiving its one-off project fee in connection with the merger, which amounted to GBP350,000. <br /><br />Custodian also announced a reduction in the management fees payable to its investment manager, Custodian Capital Ltd, for a period of two years following the merger's completion. This fee will now calculated as 0.75% of the combined group's net asset value less than or equal to GBP500 million, changed from 0.9% in respect of NAV up to GBP200 million and 0.75% up to GBP500 million.<br /><br />Custodian said that thesee amendments "reinforce the financial rationale of the recommended merger and represents further alignment between CREI, Custodian Capital and the shareholders of the combined group".<br /><br />Custodian urged abrdn shareholders to not take action regarding the separate offer by Urban Logistics REIT PLC for abrdn. In February, Urban Logistics offered abrdn shareholders 0.47 of its shares for each share in the company. Shares in Urban Logistics are currently flat at 118.00 pence each in London on Wednesday.<br /><br />In a separate announcement, abrdn said that the deadline for Custodian to make a firm intention to continue with the merger or confirm that it does not want to participate in the scheme has been extended to Friday at 5pm. Both abrdn and Custodian have agreed to these terms.<br /><br />Shares in Custodian were down 1.3% at 77.00 pence each. Shares in abrdn were down 0.2% at 55.00 pence each, both in London on Wednesday.<br /><br />By Hugh Cameron, Alliance News reporter<br /><br />Comments and questions to [email protected]<br /><br />Copyright 2024 Alliance News Ltd. All Rights Reserved.</p> Read More
(Alliance News) - Urban Logistics REIT PLC on Friday said it has until March 15 to "clarify its intentions" with abrdn Property Income Trust Ltd. Read More
(Alliance News) - Urban Logistics REIT PLC has made an offer for abrdn Property Income Trust Ltd, both companies confirmed on Tuesday. Read More
(Alliance News) - Tritax Big Box REIT PLC on Monday said UK Commercial Property REIT Ltd has agreed to an all-share takeover offer to create the UK's fourth largest real estate investment trust by market capitalisation, at nearly GBP4 billion. Read More
Custodian Property Income REIT PLC - Leicester, England-based real estate investment trust focused on smaller, regional properties - Sells industrial unit in Milton Keynes for GBP8.0 million, a 9.5% premium to the September 30 valuation. Richard Shepherd-Cross, managing director of the company's external fund manager says: "During our nine years of ownership, we were able to generate a healthy and growing level of income from this asset. We made the decision to crystallise a profit for our shareholders, and we expect to use the sale proceeds towards repaying the company's existing revolving debt facility. This will further reduce our interest costs and allow the company to fund future improvements to the remaining portfolio." Read More
(Correcting index and share price moves.) Read More
(Alliance News) - London's FTSE 100 ended with a minor gain on Friday, but registered its third-successive weekly loss, as investors dialled back their US interest rate cut bets on the back of robust recent data. Read More
(Alliance News) - The FTSE 100 edged higher on Friday at around midday, though the pound struggled after data showed that UK retail sales plunged in December. Read More
Mattioli Woods PLC - Leicester, England-based specialist wealth and asset management business - Notes the proposed merger of Custodian Property Income REIT PLC and abrdn Property Income Trust Ltd. A subsidiary of Mattioli Woods, Custodian Capital Limited, serves as an investment manager to Custodian Property, and the company said that it will continue to act for the enlarged real estate investment trust following completion of the merger. Mattioli claims the merger would create a combined portfolio of over 200 assets worth around GBP1.0 billion, which has the potential to increase the annual revenues for its subsidiary by around GBP1.7 million. Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday. Read More
(Alliance News) - Custodian Property Income REIT PLC and abrdn Property Income Trust Ltd on Friday said they have agreed to an all-share merger to create a real estate investment trust with combined assets of GBP1.0 billion. Read More