Duke Royalty Limited Trading Update (9928X)
10 Mayo 2021 - 1:00AM
UK Regulatory
TIDMDUKE
RNS Number : 9928X
Duke Royalty Limited
10 May 2021
10 May 2021
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Trading Update
Duke Royalty, a provider of alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and abroad, is pleased to provide the following trading and
operational update for its fourth financial quarter ended 31 March
2021 ("Q4 FY21"), and to provide guidance on trading for the first
quarter of the Company's financial year ended 30 June 2021 ("Q1
FY22").
Highlights:
-- Cash revenue for Q4 FY21, being cash distributions from
Duke's Royalty Partners and cash gains from sales of equity assets
was in line with expectations, totalling GBP2.5 million. This
represented a small like for like increase from the previous
quarter once the positive effects of redemptions premiums are
removed
-- In January, Duke completed a follow-on investment of GBP2.2
million into its existing royalty partner Step Investments Limited
("Step"). Duke's funds were used by Step to acquire a majority
equity stake in the Dublin-based private education subsidiary City
Education Group and to facilitate the acquisition of a majority
interest in Adtower Digital Media, a profitable Irish business
within the digital out of home advertising sector
-- In February, Duke announced the successful investment of
GBP6.2 million into a new royalty partner, Fabrikat, a long
standing, profitable fabricator of steel products supplying the UK
street lighting and guardrail markets
-- In March, Duke announced a follow-on investment of GBP4.5
million into its existing royalty partner United Glass Group
Limited ("UGG") to allow UGG to complete the acquisition of London
Architectural Glass, a UK supplier of bespoke architectural glass
to premium residential, educational and heritage projects
throughout the UK
-- Also in March, Duke announced the exit of its investment in
three river cruising vessels through the sale of its wholly-owned
subsidiary, Duke Royalty Switzerland, to Starling Fleet Holding AG.
Headline consideration for the sale was EUR11.6 million plus
interest
-- Based on current trading, Duke expects cash revenue for Q1
FY22 to increase to GBP2.8 million
Neil Johnson, CEO of Duke Royalty, said:
"I am pleased to report that Q4 FY21 was a positive and busy
quarter for Duke with several new investments completed and one
royalty partner exited. During the quarter we also successfully
transitioned Chief Investment Officers with Peter Madouros taking
over from Jim Webster, who remains an important part of Duke as the
new Chairman of the Investment Committee.
"Importantly, after quarter end Duke successfully raised GBP35
million in an oversubscribed equity placing. This fundraise gives
Duke over GBP70 million of available liquidity to deploy into its
expanding pipeline and to take advantage of the increasing
opportunities available in the alternative financing market. We
look forward to providing updates on this in due course. "
***ENDS***
For further information, please visit www.dukeroyalty.com or
contact:
Neil Johnson / Charlie
Cannon Brookes / Hugo
Duke Royalty Limited Evans +44 (0) 1481 730 613
Cenkos Securities
plc Stephen Keys / Callum
(Nominated Adviser Davidson / Julian Morse
and Joint Broker) / Michael Johnson +44 (0) 207 397 8900
Canaccord Genuity Adam James / Georgina
(Joint Broker) McCooke +44 (0) 207 523 8000
SEC Newgate (PR) Elisabeth Cowell / Richard + +44 (0) 20 3757 6882
Bicknell / Megan Kovach dukeroyalty@secnewgate.co.uk
About Duke Royalty
Duke Royalty Limited provides alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and abroad. Duke Royalty's experienced team provide
financing solutions to private companies that are in need of
capital but whose owners wish to maintain equity control of their
business. Duke Royalty's royalty investments are intended to
provide robust, stable, long term returns to its shareholders. Duke
Royalty is listed on the AIM market under the ticker DUKE and is
headquartered in Guernsey.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFLFFDERIDIIL
(END) Dow Jones Newswires
May 10, 2021 02:00 ET (06:00 GMT)
Duke Capital (LSE:DUKE)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Duke Capital (LSE:DUKE)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024