The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
https://www.investorschronicle.co.uk/ideas/2023/03/09/this-reit-has-bottomed-out/
Worth watching:- https://www.edisongroup.com/edison-tv/smiths-news-executive-interview/32008/
Fron today's Daily Telegraph:
Developers vying to build the world’s first liquid hydrogen-fuelled robot ship have won backing from the taxpayer as part of the push to cut carbon emissions.
Acua Ocean, Unitrove and consortium partners have been awarded a £3.8m government grant to develop an unmanned vessel and hydrogen fuel station.
They are aiming to get the £5.4m project up and running by autumn 2024, with the boat transporting 4-5 tonne cargos from Aberdeen to Orkney and the Shetland Islands.
Hydrogen is one of the options being looked at to replace diesel as a fuel for ships, as it does not produce carbon emission when burned.
Shipping accounts for about 3pc of global carbon dioxide emissions. The boat being developed will run on liquid hydrogen fuel cells.
The Department for Transport has awarded £60m to 19 projects around the UK which are working on cutting emissions from shipping.
Steven Lua, chief executive of Unitrove, which develops clean fuels, said he was confident the consortium will “deliver something truly remarkable”.
Michael Tinmouth, chief operating officer of Acua Ocean, which develops unmanned vessels used to monitor wind farms and ports, said the group was “laser-focused on the need to reduce emissions”.
Mark Harper, the Transport Secretary, said the funding will help in “bringing emission-free concepts to life and fuelling innovation”.
Ships are considered particularly difficult to decarbonise because of their weight and long distances they have to travel.
Hydrogen is currently produced only in small quantities in the UK, mostly extracted from natural gas, leaving vast amounts of carbon dioxide in its wake.
Methods are being developed to produce it more cleanly, either by capturing those carbon dioxide emissions, or extracting it from water instead of gas, using green electricity.
Could be worse, you could (like me) hold shares with two different brokers who both seem totally disinterested in helping their customers by requesting authorised intermediary status.
The company hasn't covered itself in glory in the way it has handled this.
If so - a bit of positive news (especially for us Prefs holders):-
Raven Property Group Limited 9 February 2022
Dear Shareholders,
As set out in our update of January 2023 the Company has been able to repatriate additional sterling funds from part of the proceeds from the sale of the interest rate caps in March 2022. We are pleased to note that the Board has recently agreed to make a one off payment of 3.45p per preference share relating to the 31 March 2022 preference dividend and the interest due on that dividend. Payment will be made on 15 February 2023 to preference shareholders on the register at 18 February 2022, being the original record date for the 31 March 2022 dividend.
This is an exceptional payment and does not indicate a return to timely payment of preference dividends.
Separately, we have been asked by various shareholders to try and generate liquidity in the Company’s ordinary and preference shares to allow people to sell a portion or all of their stakes.
Obviously, in light of the circumstances this is difficult.
We have the current matched bargain facility and have received a number of small offers, currently 10p for the preference shares and 5p for the ordinary shares, but at low volumes.
A small number of existing holders have said they may be willing to purchase more shares, however it is hard to persuade potential new investors to consider it without indications of a price at which shares may be available.
To try to address this and in an attempt to create better liquidity we will write to all shareholders on a quarterly basis stating what demand there is for either buying or selling each of the two share classes and at what price.
As noted above there are currently offers for the preference shares at 10p and the ordinary shares at 5p. Please could you advise if these offers are of interest for either all or some of your holding.
If these offers are not of interest please indicate on the attached form at what price you might buy or sell and the number of shares.
We can then look to build a book by presenting to new potential investors.
Thank you
Please return the attached form to Benn Garnham, Group Company Secretary, at bgarnham@ravenproperty.com indicating your views on liquidity and pricing.
OK - it's only £3.50 per week but makes use of empty vans after making print delivery, it's very "green" and looks like it must be worthwhile or they wouldn't be rolling it out.
https://recycle.smithsnews.co.uk/
Lots of £3.50s soon adds up.
You could look back at the relevant RNS (not as easy as it sounds) - it usually says something like "purchased catalogue of songs written/produced up to a certain date". But bear in mind that in many cases the writer(s) that Hypgnosis signs will not have written 100% of the song you're interested in. Lots of songs have lots of writers.
Try looking at Hypgnosis website -
Ha! I'm sure most of us feel the same.
SONG said at the time that the new entity was announced:
"SONG is expected to benefit from Blackstone's investment in HSM's management capabilities and will have the right to co-invest in future catalogue acquisitions alongside the new Blackstone-HSM partnership.
Andrew Sutch, Chairman of SONG said: "Our Investment Adviser, Hipgnosis Song Management's, new partnership with Blackstone highlights how successfully Merck has established songs and music rights as an asset class since founding and listing SONG three years ago. This new partnership will provide new co-investment opportunities for SONG, and we expect that continued investment in Hipgnosis Song Management will enhance returns for our investors."
They haven't explained exactly how SONG will benefit other than SONG will be able to co-invest in catalogues alongside the Blackstone backed entity. The problem is that SONG doesn't have enough(any) money to put up and as it's trading at, what they tell us is, a substantial discount to NAV they can't issue more shares to raise the money needed.
So we have to wait until, hopefully, potential investors realise that the NAV is real and the share price goes up and/or interest rates go back down and continue collecting the dividends generated by what we already own.
The huge sums being paid out for catalogues should help maintain the value of what we do own.
MM may think it a good idea to build the Hipgnosis name but I don't think the confusion every time a catalogue purchase announcement is made helps us in the long run. It just makes it sound a bit underhand to many.