Fidelity Special Values (FSV); issues 150,000 ordinary shares
Fidelity Special Values has issued a total of 150,000 new ordinary shares of 5p at a price of 172.4p per share. The shares, issued from the company’s block listing facility of 15 January 2019, rank pari passu with the existing ordinary shares in issue.
Read more...John Laing Group (JLG); applies for block listing of 250,000 ordinary shares
John Laing Group has made an application to the UK Listing Authority and the London Stock Exchange (LSE) for a block listing of 250,000 ordinary shares of 10p each. These shares will rank pari passu with the existing issued ordinary shares of the company.
Read more...Ergomed (ERGO); provides update on siltuximab clinical study
Ergomed notes the recent update provided by EUSA Pharma regarding the study of siltuximab, an interleukin (IL)-6 targeted monoclonal antibody, for the treatment of patients with COVID-19 who have developed serious respiratory complications (Siltuximab In Serious COVID-19; SISCO Study). Recently, EUSA announced initial preliminary findings from the SISCO Study, based on a pre-planned data analysis on 24 March 2020.
Read more...Mercia Asset Management (MERC); direct portfolio companies
Mercia announced that two of its direct portfolio companies, The Native Antigen Company Limited (NAC) and Oxford Genetics Limited (trading as OXGENE), have formed a new strategic partnership to scale up COVID-19 antigen production. Though an important first step, these tests can only detect ongoing COVID-19 infections.
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Palace Capital (PCA); COVID-19 update
Palace Capital is selectively supporting occupiers, particularly smaller and independent brands that are less resilient to the enforced closure of their space. It has received a variety of requests for rent deferrals, monthly rather than quarterly payments, and rent waivers which are being reviewed on a case by case basis. With a focus on regional offices and industrial assets, Palace’s retail exposure is limited (8 assets/ 9.2% of portfolio market value at H120). It additionally owns two large leisure centres (14.5% of the H120 valuation).
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M&C Saatchi (SAA); sharp drop in demand across the group
A sombre COVID-19 update from M&C Saatchi today, talking of ‘a sharp drop in demand across the group’ in March, although there has been a continuance of new business pitching (we’ve heard this from others too) and some areas where demand is holding up such as influencer marketing and talent management. Performance has been ‘substantially weaker’ in March, so it is all about how long and how deep this phase is.
Read more...Duke Royalty (DUKE); cash revenue received in line with market expectations
For the year ended 31 March 2020, the company reported that cash revenue received from its royalty partners was in line with market expectations at over £10.0m, with March 2020 contributing the greatest monthly cash revenue received by the company to date at over £1.0m.
Read more...Avacta Group (AVCT); announces subscription to raise £2m
Net proceeds of the subscription to continue to execute the strategy outlined last October
The group announced a proposed subscription to raise gross proceeds of £2m. This comprises 11,111,110 subscription shares at a price of 18p per new ordinary share at a 2% discount to the 14-day volume weighted average of 18.4p. The two subscribers are Clare Hughes (wife of Richard Hughes, co-founder of Zeus Capital) and Mahmud Kamani, co-founder of Boohoo.com.
Serco Group (SRP); announces the issue of 10,000,000 ordinary shares
Serco Group applied to the FCA and the London Stock Exchange for the listing of an additional 10,000,000 ordinary shares of 2p each in the company to trade on the London Stock Exchange and to be admitted to the FCA’s official list. The shares rank pari passu with the existing ordinary shares in the issue.
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Fins Growth Inc Tst (FGT); issues 220,000 new ordinary shares
Finsbury Growth & Income Trust has issued 220,000 new ordinary shares of 25p each at a price of 735.00p per share. These shares rank pari passu with the existing ordinary shares in issue.
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