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Pin to quick picksDuke Capital Share News (DUKE)

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Duke Royalty restructures investment in Pearl & Dean Group

Thu, 29th Aug 2019 08:57

(Sharecast News) - Alternative capital solutions provider Duke Royalty announced a follow-on investment of £0.25m and a restructuring of its royalty partner Pearl & Dean Cinemas on Thursday.
The AIM-traded firm said it had restructured its investment, which now totalled £2.75m, by moving the entire royalty agreement from the Pearl & Dean Group - a UK and Ireland cinema advertising business - to its parent company Step Investments.

It described Step as a diversified investment vehicle with interests in several profitable and cash-generative UK and Ireland businesses, spanning the media and the hospitality and leisure sectors.

The restructuring would provide Duke with exposure across the broader Step portfolio, which the board said would increase the security of the investment.

Duke said the Pearl and Dean Group was the sixth royalty partner to receive a follow-on investment by Duke, and the second partner secured through the Capital Step acquisition.

The investment terms remained as a perpetual royalty, with a pro-forma cash yield of approximately 18.0% on total invested capital, and the potential for further revenue participation depending on future growth.

Step was planning to use the follow-on investment to add a new Dublin-based luxury restaurant and entertainment venue, Hyde, to its portfolio, with Pearl & Dean having successfully completed a fundraise recently to restructure its debt and to fund future growth.

The new investments into the Pearl & Dean Group and Hyde were expected to accelerate growth of those operating companies, to which Duke's revenue participation was tied.

Duke also said the restructuring of the royalty partner increased the security of its investment.

"This investment benefits all parties concerned and reinforces Duke's reputation as a flexible and long-term funding partner for business in the UK, Europe and abroad," said Duke Royalty chief executive officer Neil Johnson.

"For Duke and its shareholders, this restructuring means that our royalty receipts are poised to benefit from multiple growth opportunities as Step Investments launches its new venue, Hyde, alongside the range of planned initiatives from the Pearl & Dean Group thanks to the new funds raised through The Firmament Group.

"This deal also enhances the value of our overall security on the investment."
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5 Apr 2024 13:52

UK dividends calendar - next 7 days

Monday 8 April 
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Redrow PLCdividend payment date
Tuesday 9 April 
CT Global Managed Portfolio Trust PLCdividend payment date
Downing Strategic Micro-Cap Investment Trust PLCdividend payment date
Dunelm Group PLCspecial dividend payment date
Hays PLCdividend payment date
Renishaw PLCdividend payment date
Safestore Holdings PLCdividend payment date
Wednesday 10 April 
Assura PLCdividend payment date
Primorus Investments PLCspecial dividend payment date
Wilmington PLCdividend payment date
Thursday 11 April 
Amedeo Air Four Plus Ltdex-dividend payment date
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Aviva PLCex-dividend payment date
Balanced Commercial Property Trust Ltdex-dividend payment date
Barratt Developments PLCex-dividend payment date
Begbies Traynor Group PLCex-dividend payment date
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Blackfinch Spring VCT PLCex-dividend payment date
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Alpha Real Trust Ltddividend payment date
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Duke Capital Ltddividend payment date
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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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3 Apr 2024 15:15

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3 Apr 2024 14:57

Duke Capital makes follow-on investment in New Path

(Sharecast News) - Duke Capital announced a follow-on investment of £3.85m into its existing capital partner, New Path Fire and Security, on Wednesday.

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2 Apr 2024 19:02

TRADING UPDATES: Roadside shares suspended; Adnams looks for funds

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28 Mar 2024 14:14

TRADING UPDATES: Duke expects revenue rise; SIMEC gets EL deal payment

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7 Mar 2024 13:57

Duke Capital exits investment in street light firm Fabrikat

(Alliance News) - Duke Capital Ltd on Thursday said that it has exited its investment in Meteor HoldCo Ltd, which owns the street lighting manufacturer, Fabrikat Ltd.

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7 Mar 2024 13:09

Duke Capital exits investment in streetlight maker Fabrikat

(Sharecast News) - Duke Capital announced the successful exit of its investment in Meteor HoldCo on Thursday, which is the parent company of street lighting and guardrail manufacturer Fabrikat Nottingham.

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6 Mar 2024 21:27

IN BRIEF: Duke Capital sells investment in Swiss business, Fairmed

Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Sells investment in Fairmed Healthcare AG, a Switzerland-based provider of high-quality generic prescription medicines, over-the-counter pharmaceuticals, dermocosmetics and dietary supplements in various EU countries. Receives EUR11.4 million cash providing Duke with additional liquidity for new deployments into its pipeline of long-established, profitable businesses. Notes payment of EUR6.0 million has been received with the balance of EUR5.4 million to be paid by March 31.

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6 Mar 2024 14:03

Duke Capital exits investment in Fairmed Healthcare

(Sharecast News) - Duke Capital announced the successful exit from its investment in Fairmed Healthcare, a Swiss-based supplier of generic prescription medicines and other pharmaceutical products in the EU, on Wednesday.

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4 Mar 2024 13:19

TRADING UPDATES: Mirriad Advertising and EnSilica win deals

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21 Feb 2024 17:00

IN BRIEF: Duke Capital name change confirmed, to take effect on AIM

Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Says name to Duke Capital Ltd from Duke Royalty Ltd has been confirmed by the UK Registrar of Companies, and will take effect for shares trading on AIM from Thursday. On Tuesday, the name change was passed by shareholders at an extraordinary general meeting.

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20 Feb 2024 13:18

IN BRIEF: Duke Royalty confirms name change to Duke Capital

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Confirms that name change to Duke Capital Ltd was passed by shareholders at extraoridnary general meeting, held Tuesday.

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13 Feb 2024 14:34

UK shareholder meetings calendar - next 7 days

Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
Thursday 15 February 
JPMorgan Asia Growth & Income PLCAGM
Synergia Energy LtdGM re share placing
VVV Resources LtdAGM
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UK Oil & Gas PLCGM re proposed capital reorganisation
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East Imperial PLCGM re capital reorganisation
Oxford Cannabinoid Technologies Holdings PLCGM re convertible loan note agreement with Cantheon
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Dec 2023 11:39

IN BRIEF: Duke Royalty expects higher quarterly recurring cash revenue

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Expects recurring cash revenue of GBP6.3 million in its third quarter for the year ending March 31, which would be a 12% increase from GBP5.6 million a year before. It would also be a notch up from GBP6.2 million in its second quarter. "We are pleased to report that despite the ongoing macroeconomic uncertainties, we continue to deliver revenue growth, with [the third quarter of financial 2024] on course to maintain this upward trend, underpinning our stable dividend which at the current share price, represents an approximate 9% yield," says Chief Executive Officer Neil Johnson.

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