Edison Investment Research

Palace Capital (PCA); sets record office rent in York

Palace Capital has set a record office rent in York City with the completion of a pre-let agreement with solicitors firm Knights LLP, part of Knights plc, at its flagship Hudson Quarter mixed-use development. It marks the first commercial agreement at Hudson Quarter, which is due to complete in Q1 2021.

BioPharma Credit (BPCR): announces senior secured term loan agreement with Collegium Pharmaceutical

BioPharma Credit announced that it has entered into a definitive senior secured term loan agreement with Collegium Pharmaceutical, alongside BioPharma Credit Investments V (Master) LP (BioPharma-V). The company will invest $165m and BioPharma-V will invest an additional $35m.

HgCapital Trust (HGT); announces investment in smartTrade Technologies

HgCapital Trust announced an agreement to acquire stakes from Keensight Capital and Pléiade Venture in smartTrade Technologies (smartTrade). The company will invest around £17.5m in smartTrade, along with its other institutional clients, investing in it through the Hg Mercury 2 Fund.

Target Healthcare REIT (THRL); EPRA NAV per share at 108.1p

Target Healthcare announced its unaudited quarterly NAV as of 31 December 2019, provided an update on its corporate activity during the quarter and declared its second interim dividend.

AJ Lucas (AJL); announced its board approved the acquisition of Cuadrilla interest

AJ Lucas has announced its board approved the acquisition of Riverstone’s interest in the UK shale gas explorer, Cuadrilla Resources. Following this acquisition, AJL’s holding in Cuadrilla will increase from 47.6% to c 93%.

Lookers (LOOK); net debt at circa £62.0m as of 31 December 2019

Lookers announced its trading update for the 12 months ended 31 December 2019. Trading during the three-month period ended 31 December 2019 (Q4) was as expected. The group’s like-for-like (LFL) unit sales of new vehicles declined by 6.6% while LFL unit sales of used cars increased by 3.8%.

Primary Health Properties (PHP); announces forward funding acquisition

Primary Health Properties has contracted with a developer to fund the development and acquisition of a purpose-built primary care centre in Llanbradach, near Caerphilly in Wales, for a total cost of £2.8m. This acquisition will increase the company’s portfolio to 489 assets with a gross value of just over £2.4bn and a contracted rent roll of just under £128m.

CentralNic Group (CNIC); unaudited revenue increases 95%

CentralNic Group announced an update on its trading for Q4 and FY 2019. The Q4 revenue stood at US$32m while adjusted EBITDA was US$5m. The unaudited adjusted EBITDA increased 95% to US$18m in FY 2019. The unaudited net debt position was US$76m as of 31 December 2019.

Plant Health Care (PHC); receives approval for Employ

Sales to start in coming weeks with its distribution partner Wilbur-Ellis

Plant Health Care announced that it received California Department of Pesticide Regulation’s (“CDPR’s”) approval for the immediate use of Employ to suppress nematodes affecting almonds, grapes and walnuts.

WANdisco (WAND); expects revenue to be $16m

WANdisco announced a trading update for the year ended 31 December 2019. Revenue for the period is expected to be approximately $16m with a strong year-end cash balance of $23.3m, which will enable the company to achieve cash flow breakeven.