QuotedData’s morning briefing 16 November 2023 – BSIF, SYNC, PSH, GCL, NCYF, GPM, CYN

In QuotedData’s morning briefing 16 November 2023:

  • Bluefield Solar (BSIF) reports that its NAV fell by 3.3p over the third quarter of 2023. the main contributing factors to this were slight underperformance in generation during the quarter, due to lower than expected irradiation, and advanced quarterly payments connected to corporation tax and the Electricity Generator Levy (taking off about 4p in total). Offsetting that were uplifts from inflation (1.9p), and upwards revaluations of construction and development projects (1.1p). The company also paid a 2.3p dividend.
  • Martin Murphy is stepping down as chair of Syncona (SYNC)’s management company with Chris Hollowood taking on the role of interim chair and CEO. Martin co-founded Syncona with the Wellcome Trust in 2012. Melanie Gee, Syncona’s chair, said “The board are pleased with the strategic progress Syncona has made and with how the senior team, led by Chris, are operating against a challenging market backdrop with a continued focus on maximising value for our shareholders”.
  • Pershing Square (PSH) has announced a new $250m share buyback programme, on top of the $1.24bn that it has bought back to date since May 2017. The programme is expected to last until the next AGM but may end earlier.
  • CQS (UK) LLP – manager of Golden Prospect (GPM), CQS New City High Yield (NCYF), Geiger Counter (GCL) and CQS Natutral Resources Growth and Income (CYN) – is being acquired by Manulife Investment Management. There are no planned changes to the investment management teams.

We also have news of a disposal by Foresight Solar

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