Edison Investment Research

Oxford Biomedica (OXB); Kymriah approved; OXB sole supplier of encoding lentiviral vector

Stock up 3.07% to 12.41p at 8:01

OXB notes that Novartis’ Kymriah has received FDA approval for treatment of appropriate patients with large B-cell lymphoma. Supply of the lentiviral vector that encodes Kumriah is part of the agreement OXB signed with Novartis in July 2017, with potential of generating revenues of $100m from Novartis over the next three years.

Regional REIT (RGL); acquires 6 regional assets for £35.2m with net initial yield of c8.4%

The properties, to be acquired from Kildare Partners in an off-market transaction, will provide a net income of c. £3.1m pa. RGL will utilise the proceeds from the fundraising in December 2017 for this transaction.

WPP (WPP); Q1 2018 trading update: in line with expectations; maintains 2018 revenue guidance

Stock up 6.70% to 1,225.5p at 08:12

Reported revenue decreased 4.0% to £3.555bn (like-for-like: up 0.8%, currency headwinds: 6.0%). Reported revenue less pass-through costs declined 5.1% to £2.948bn (like-for-like: down 0.1%, currency headwinds: 6.1%).

The Rank Group (RNK); appoints John O’Reilly as CEO and Alan Morgan Executive Director

Stock down 0.23% to 174.20p at 8:05

Both the appointments will be effective from 7 May 2018. John will succeed Henry Birch, whose resignation will become effective from the same date.

GCP Student Living (DIGS); reports quarterly NAV return of 0.4% and net initial yield of 5.01%

DIGS’ unaudited NAV per share (ex-income) was 145.44p, generating an NAV return of 0.4% in the quarter ended 31 March 2018. The net initial yield of the portfolio was 5.01%, with eight operational and two under construction assets.

G3 Exploration (G3E); trading to be suspended from 1 May to 8 Jun due to delay in results

Trading in the London Stock Exchange will be suspended since G3E will publish its full year 2017 results on 8 June 2018, when the results will be published. This is a deviation from the deadline of 30 April 2018 mandated by Disclosure Guidance and Transparency Rule 4.1.3.

UK Commercial Property Trust Ltd (UKCM); 2017 final results and REIT conversion update

Stock down 0.11% to 89.7p at 8.22

UKCM announced a strong NAV total return of 12.2%, robust dividend yield of 4.2% and EPRA earnings per share (excluding deferred tax) of 3.42p

Lazard World Trust Fund (WTR);  revises dividend policy and declares dividend

Stock flat at 359.0p at 8:10

Under the new policy, WTR proposes to pay a total dividend amounting to 6% of the Net Asset Value, payable quarterly over the course of the year. The fund also declared second dividend of 6.4925p for the year to 31 March 2018, which is payable on 8 June 2018.

Adamas Finance Asia (ADAM); update on disposition of interest in Global Pharm

Stock flat at 0.64p at 8:10

ADAM is in discussions with Fortune Insight with a view to agreeing revised terms after the latter expressed its inability to complete the acquisition on the originally agreed terms.

Raven Russia (RUS); proposes amendments to articles of incorporation and change in name

RUS will propose amendments to the company’s article of incorporation in its forthcoming annual general meeting (AGM) on 31 May 2018. This came further to the announcement by Aviva plc of its ability to cancel certain irredeemable shares it had issued, and the subsequent interest of the UK Financial Conduct Authority and a number of institutional investors.