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Pin to quick picksDuke Capital Share News (DUKE)

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Share Price: 32.75
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Duke Royalty puts another ?2m into Lynx Equity UK

Fri, 01st Nov 2019 15:41

(Sharecast News) - Alternative capital provider Duke Royalty announced a follow-on investment of £2m into its existing royalty partner Lynx Equity UK on Friday.
The AIM-traded company said Lynx UK would allocate Duke's further contribution towards the acquisition of Danish manufacturer, Sundby Trapper, which was undertaken in May and represented its fifth acquisition across the UK and Europe.

It said the follow-on investment diversified both Duke's portfolio and Lynx UK's revenue base.

Based on the increased investment and enhanced exposure of £12m in Lynx UK, Duke would be entitled to higher distributions of £1.6m per annum from Lynx UK, beginning in November.

That represented a pro forma cash yield of 13.0% on total invested capital.

Duke said the follow-on transaction would also increase the security of Duke's investment, with all other terms of the £2m contribution being the same as Duke's previous investment made into Lynx UK.

Sundby is a manufacturer of specialised steel staircases and related products in Denmark and throughout the Nordic region, the board explained.

It said the company, founded in 1964, had a strong market presence and a solid growth opportunity servicing residential, commercial and institutional markets.

Sundby's reputation for best-in-class products had enabled it to win bids for prestigious projects, including the National Gallery of Denmark and the Norwegian Royal Palace.

"We are delighted to deliver further portfolio diversification and income through the rapid deployment of proceeds raised from our recent fundraise," said Duke Royalty chief executive officer Neil Johnson.

"Lynx UK has a strong track record of financial performance which has facilitated two consecutive positive annual adjustments and, when consolidating its five wholly owned businesses, represents one of our largest Royalty Partners by revenue and EBITDA.

"This contribution further highlights our track-record of being a flexible and long-term funding partner for businesses in the UK, Europe and abroad."

As at 1449 GMT, shares in Duke Royalty were down 0.34% at 43.65p.
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26 Jun 2023 14:22

IN BRIEF: Duke Royalty invests another GBP1.8 million into Tristone

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Announces a follow-on investment of GBP1.8 million into its existing partner Tristone Healthcare Ltd. Says the fund will facilitate Tristone's latest acquisition of South West Intervention Services Ltd. This increases Duke's total investment in Tristone to GBP19.4 million.

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26 Jun 2023 11:01

Duke Royalty puts another £1.8m into Tristone Healthcare

(Sharecast News) - Alternative capital provider Duke Royalty announced an additional investment of £1.8m into its existing partner Tristone Healthcare on Monday.

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IN BRIEF: Duke Royalty shares up as quarterly cash revenue rises

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Says recurring cash revenue for the fourth quarter of financial 2023 amounts to GBP5.7 million, up from GBP4.7 million the year before. Total cash revenue is GBP5.8 million, up from GBP5.6 million in the previous quarter. Says in the quarter, Duke Royalty completes a new USD8.8 million royalty investment into Instor Solutions Inc, a California-based product reseller and service provider for work related to the build-out and migration of data centres.

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IN BRIEF: Duke Royalty nets profit after successful investment exit

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Announces the successful exit of its investment in royalty partner Instor Solutions Inc, a California-based product reseller and service provider for work related to the build-out and migration of data centres. Receives net cash of USD11.2 million at closing, delivering a total gain of USD2.4 million over Duke's initial investment amount, provided to Instor in March 2023. Notes this represents the sixth and most profitable exit for Duke to date. Proceeds from the exit further strengthens Duke's balance sheet, enabling deployment into its pipeline of new investment opportunities, company says.

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3 Mar 2023 11:54

IN BRIEF: Duke Royalty expects quarterly cash revenue to rise

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