Digital 9 Infrastructure NPV (DGI9)

Sector:

Investment Firms

Index:

FTSE Small Cap

18.80p
   
  • Change Today:
      0.30p
  • 52 Week High: 32.70
  • 52 Week Low: 14.70
  • Currency: UK Pounds
  • Shares Issued: 865.17m
  • Volume: 392,480
  • Market Cap: £162.65m
  • Beta: 1.80

Digital 9 appoints new investment manager for portfolio wind-down

By Josh White

Date: Friday 11 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Digital 9 Infrastructure announced the appointment of InfraRed Capital Partners as its new investment manager and alternative investment fund manager (AIFM) on Friday, overseeing the managed wind-down of its portfolio.

The London-listed firm said the appointment was expected to take effect in the fourth quarter, subject to regulatory approvals and third-party consents.

Until then, Triple Point Investment Management would continue managing its portfolio, with InfraRed stepping in to assist on key deliverables under an interim support agreement.

This decision followed a thorough investment management review initiated in March, during which D9's board consulted major shareholders and evaluated several potential management options.

Panmure Liberum provided an independent review, leading to the selection of InfraRed, which the board said would bring extensive experience managing listed infrastructure trusts, including HICL Infrastructure and the Renewables Infrastructure Group, both FTSE 250 constituents.

InfraRed would manage the wind-down of D9's assets, with a focus on maximising shareholder value.

Its expertise in digital infrastructure and track record in asset divestments played a key role in its selection, Digital 9 explained.

The board said it believed InfraRed's knowledge of D9's assets, particularly its stake in Arqiva Group, would enable it to achieve optimal outcomes during the wind-down.

InfraRed would receive a fixed annual fee of £3.75m for the first 36 months, reducing to £1.75m thereafter.

Additionally, the firm had committed to purchasing D9 shares using 10% of its annual fee.

A performance fee structure was also put in place, with InfraRed entitled to a percentage of distributions exceeding £225m.

"We are pleased to welcome InfraRed as D9's new investment manager and look forward to working with the team during the managed wind-down," said chairman Eric Sanderson.

"Sale processes for D9's wholly-owned assets are progressing, albeit at a slower pace than we had anticipated."

At 0956 BST, shares in Digital 9 Infrastructure were up 7.72% at 18.96p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

DGI9 Market Data

Currency UK Pounds
Share Price 18.80p
Change Today 0.30p
% Change 1.62 %
52 Week High 32.70
52 Week Low 14.70
Volume 392,480
Shares Issued 865.17m
Market Cap £162.65m
Beta 1.80

DGI9 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
94.16% above the sector average94.16% above the sector average94.16% above the sector average94.16% above the sector average94.16% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
93.67% below the sector average93.67% below the sector average93.67% below the sector average93.67% below the sector average93.67% below the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
70.85% above the sector average70.85% above the sector average70.85% above the sector average70.85% above the sector average70.85% above the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average

DGI9 Dividends

  Latest Previous
  1st Interim 4th Interim
Ex-Div 15-Jun-23 16-Mar-23
Paid 30-Jun-23 31-Mar-23
Amount 1.50p 1.50p

Trades for 12-Dec-2024

Time Volume / Share Price
10:14 8,844 @ 18.66p
10:02 50,000 @ 18.68p
10:00 190 @ 18.80p
09:59 7,000 @ 18.68p
09:57 26,500 @ 18.66p

DGI9 Key Personnel

Chair Eric Sanderson

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