Investment Companies Daily TRIG sale of Beatrice stake, SEQI NAV, LBOW RoyaleLife Loan, NBPE name change, AERS withholding fees, CREI update on Scorpion portfolio, VIP Final results

Research evidence excerpt

Investment Companies Daily TRIG sale of Beatrice stake, SEQI NAV, LBOW RoyaleLife Loan, NBPE name change, AERS withholding fees, CREI update on Scorpion portfolio, VIP Final results

in the project's shareholders' agreement. The transaction is subject to Chrysalis Investments 5.3

Aquila European Renewables… 5.8

transaction documentation and customary consents. The disposal also Lindsell Train 7.0

represents progress against the 12-month £400m capital realisation target set Tritax Big Box 7.8

at TRIG’s capital markets seminar in May 2026. Under TRIG’s capital Majedie Investments 8.2

allocation policy it will prioritise capital returns to shareholders via share -20 -15 -10 -5 0 5 10 15

buybacks, reduce RCF borrowings and invest into higher returning proprietary Source: LSEG Datastream

internal opportunities. TRIG has a £150m share buyback programme of which Largest movers over the last month (%)

£112m has been completed and £38m remains as at 12/6/26. TRIG expects that abrdn Property Income -35.7

contracts for the Beatrice disposal will be signed in Q3 2026 with completion Golden Prospect Precious Metal -18.4

Geiger Counter -12.9

expected before the end of 2026 subject to the timing of third-party consents. CQS Natural Resources G&I -12.2

• J.P. Morgan View: Selling assets at a discount to carrying value is arguably abrdn EuropeanForesightLogisticsEnvironmental…Income -9.2 13.7

a little disappointing but the discount is narrow and materially narrower than Edinburgh Worldwide 13.8

the discount to NAV at which TRIG shares trade making this a good outcome Foresight Solar 15.5

Majedie Investments 20.2

in our view. The RCF was short term debt always intended not to be structural US Solar Fund 30.4

debt and we think reducing the RCF is a sensible use of proceeds.