UK's Digital 9 Infrastructure rises; announces debt reduction
01/10/2024 13:11
** Shares of Digital 9 Infrastructure DGI9.L up 5.7% at
17.3 pence; among top gainers across all London stocks
** Co reports reduction in revolving credit facility debt to
53 mln pounds ($70.59 mln) from 375 mln pounds after market
close on Monday, helped by sale of unit Verne Global
** Says sale also includes potential earn-out payment of up
to $135 mln contingent upon Verne achieving run-rate EBITDA
targets for 2026
** Co said as it enters into wind-down phase, it will
continue to realise its exit strategy across its portfolio
** "Longer-term potential gains could come from the Verne
Global earn-out and the sale of unit Arqiva" - Panmure Liberium
analysts
** Co's HY net asset value fell 41% to 403 mln pounds from
686 mln pounds at 2023 end
** Including session's gains, stock down 41.9% YTD
($1 = 0.7509 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru)
((DhanushVignesh.Babu@thomsonreuters.com;))