RCS - Caledonia Investmnts - Update from QuotedData

Caledonia InvestmentsAnnouncement

11/12/2024 13:30

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RNS Number : 7287P  Caledonia Investments PLC  11 December 2024

 

Caledonia Investments - Update from QuotedData

11(th) December 2024

Addressing the discount

On 26 November, Caledonia Investments (CLDN) released interim results covering
the six-month period ended 30 September 2024. We provide some analysis of
these in this note. There was a welcome narrowing of the share price discount
to net asset value (NAV) over the period. However, the market turmoil that
accompanied the UK budget and the US election has since reversed this, leaving
CLDN trading on an excessively wide discount of 37.9%.

The board believes that CLDN's share price undervalues the quality of its
portfolio and long-term track record, and we wholeheartedly agree with this.
Understandably, the board and management are keen to do what they can to
tackle the discount (see page 3), and NAV-accretive share buybacks play an
important part in this. The company is asking shareholders to approve measures
to enable their continued use (see page 5). Large independent shareholders
were consulted ahead of this and presumably are supportive of the idea. We
would encourage shareholders to back the proposal.

Full Research:

https://quoteddata.com/research/caledonia-investments-addressing-the-discount-qd/
(https://quoteddata.com/research/caledonia-investments-addressing-the-discount-qd/)

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