In QuotedData’s morning briefing 15 April 2025:

• Literacy Capital (BOOK) says it is increasing the size of its revolving credit facility with its existing lender OakNorth Bank from £40m to £50m. The existing rates of interest and term (expiry in September 2027) are unchanged but the agreement now requires that the company has a minimum net asset value of £225m. Currently, the facility is £35m drawn.
• Cordiant Digital Infrastructure (CORD) says its purchase of BT Communications Ireland Ltd (via its wholly owned Irish fibre platform, Speed Fibre Group) has been cleared by the Competition and Consumer Protection Commission in Ireland. There are a couple more hoops to go through but the transaction is expected to close later in 2025.
• Documents related to Drax’s bid for Harmony Energy Income (HEIT) have been published. To recap, HEIT shareholders will get 88p per share in cash. Meetings to approve the deal are on 7 May (votes must be in by the 2nd), HEIT shares will be suspended from trading before the market opens on 17 June. Cash should be dispatched two weeks after that.
• Following the news of a possible offer for Urban Logistics REIT by LondonMetric (read about it here), Achilles Investment Company (AIC) has announced that requisitioning shareholders (Waverton Investment Management Limited, TR Property Investment Trust plc, and Harwood Capital LLP) have withdrawn their requisition for a general meeting. The group of shareholders had requested the replacement of Urban Logistics’ chair and senior independent director.
• Sequoia Economic Infrastructure (SEQI) says it has written down the value of a loan that was 2.3% of its NAV to 0.4% of NAV because it was secured against a “landmark US educational building” which now has reduced likelihood of securing tenants following DOGE cuts to the U.S. Department of Education’s workforce.

We also have:

European Smaller to shrink dramatically as it strikes deal with Saba

Dunedin Income Growth misses out on soaring bank stocks

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Rockwood Strategic outperforms again with NAV total return of 21.1%

Gore Street to pocket £18–19m from US tax credit sale

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