Good morning!
We have plenty of candidates for coverage today.
Provisionally I will cover:
Duke Royalty (LON:DUKE)Miton (LON:MGR)XLMedia (LON:XLM)Xpediator (LON:XPD)Kape Technologies (LON:KAPE)Cheers
Graham
Duke Royalty (LON:DUKE)
Share price: 44.5p (-3%)No. of shares: 198 millionMarket cap: £88 millionFinal Results and Notice of AGM(Please note that I currently hold DUKE shares.)Duke is “the first UK quoted non-resource royalty investment company”, i.e. it’s an unusual type of investment vehicle. It provides financing to small businesses and in return it receives a long-term income stream that varies in accordance with the revenues of the underlying businesses.This is “mezzanine finance” – riskier than lending, less risky than buying an equity interest. I’ve discussed the business model plenty of times before so if you’re interested, I’d invite you to check out the archives!These results are for the year ending March 2018. They are pretty much irrelevant in my view, given how much has happened at Duke since then.Some investors might be disappointed with the…
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