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Pin to quick picksMenhaden Re Plc Share News (MHN)

Share Price Information for Menhaden Re Plc (MHN)

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Share Price: 108.50
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Menhaden is an Investment Trust

To generate long-term shareholder returns, predominantly in the form of capital growth, by investing in businesses and opportunities, delivering or benefiting from the efficient use of energy and resources.

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TRADING UPDATES: Menhaden net asset value up but Marble Point's slips

Fri, 15th Sep 2023 13:48

(Alliance News) - The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:

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Menhaden Resource Efficiency PLC - invests in businesses and opportunities, delivering or benefiting from the efficient use of energy and resources - Net asset value per share at June 30 half-year end rises 17% to 151.4 pence from 129.8p at the end of December. Reports total return of 17%, beating benchmark return of 5.9%. Menhaden says: "Notable contributors to our performance included private equity clean energy developer X-ELIO, which is expected to realise 2.2 times invested capital following its proposed acquisition by Brookfield Renewable, expected to conclude by the end of 2023. Taken together, our three largest digitalisation (decarbonisation) themed public equities (Microsoft, Alphabet and Amazon) contributed 9.2% to NAV. The two largest detractors were two sustainable infrastructure and transport companies, Union Pacific and Canadian National Railway, which reduced our NAV by 0.3%."

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Marble Point Loan Financing Ltd - closed-ended investment company focused on dollar-denominated, broadly syndicated floating rate senior secured corporate loans - Net asset value per share falls to USD0.52 at June 30 half-year end, from USD0.55 on December 31. Marble Point says: "In a welcome respite from the volatility that impacted global credit markets throughout 2022, leveraged loan markets experienced an auspicious start to the year before being roiled by the March 2023 banking crisis, earnings volatility and nagging recession and rate concerns. However, the Silicon Valley Bank collapse in March spurred retail loan fund outflows and a risk off mindset across broader credit markets, causing loan prices to decline. While loans in the second quarter of 2023 experienced additional bouts of price volatility, the arc ultimately trended positively as broader markets

recovered from the throes of the March banking crisis."

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Cambria Africa PLC - Zimbabwe-focused investment company - Shares return to trading after it reports belated annual results as well as half-year results. For the six months to February 28, net asset value per share fades to USD1.06 from USD1.16 a year prior. "We remain cautiously optimistic about achieving full value for the company's assets beyond its NAV. While we still see value in our listing, the board is considering whether to maintain its listing. With the publishing of the group's FY 2022 and HY 2023 results, the suspension of the company's shares on the AIM will be lifted. This should enable shareholders to trade with a comprehensive understanding of the investment landscape confronting Cambria," the firm adds. Cambria's NAV per share at its August 31, 2022 financial year-end was also USD1.06, down from USD1.16 the year prior. Cambria shares were 25% lower at 0.22 pence each on the return to trading on Friday.

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Kavango Resources PLC - metals exploration company with assets in Botswana and Zimbabwe - Pretax loss in half-year ended June 30 widens to USD1.4 million from USD883,000 a year prior. Administrative expenses increase 32% to USD1.0 million from USD794,000. In addition, it posts USD249,000 worth of pre-licence exploration costs, compared to none a year prior. Kavango generates no revenue, unchanged from a year prior.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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