TRADING UPDATES: Auction Technology hits out at FitzWalter
The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
----------
Auction Technology Group PLC - London-based online auction marketplace operator - Confirms receipt of a requisition notice from FitzWalter Capital Ltd requiring the board to call a general meeting. Says it is disappointed by the move, describing it as an "unnecessary and unwarranted distraction" from delivering its strategy. Board says the demand fails to reflect the company's progress, noting its share price has risen 72% since the start of 2026. Remains confident in its ability to deliver significant shareholder value through its strategic plan. Plans to publish annual results on November 24, including further details on its financial 2027 outlook. Says it will provide a further update on the requisition in due course.
----------
GCP Infrastructure Investments Ltd - closed-ended investment company advised by Gravis Capital Management Ltd providing exposure to UK infrastructure debt - Reports unaudited net asset value per share of 99.39 pence at September 30, up from 98.60p at June 30. Says higher forecast electricity prices add 0.97p per share to NAV, while renewable energy generation contributes 0.12p. Share buybacks add a further 1.19p, offsetting a 1.49p reduction from project-specific valuation adjustments and other movements. Buys back 57.3 million shares during the quarter, while its revolving credit facility remains fully undrawn. Continues to progress planned asset disposals and intends to use excess cash for further buybacks while shares trade at a discount to NAV. Declares quarterly dividend of 1.75p per share, in line with its annual target of 7.00p, payable on December 4 to shareholders on the register on November 6.
----------
Foresight Environmental Infrastructure Ltd - Investor in environmental infrastructure assets across the UK and mainland Europe - Future Biogas acquires the remaining 49% stake in six UK gas-to-grid anaerobic digestion facilities from Foresight Environmental Infrastructure for £104.0 million, following the purchase of an initial 51% stake in August 2024. Foresight says the consideration represents a 7.5% premium to the June 30 valuation, equivalent to a £7.2 million or 1.2p per share uplift, and a 38% increase in valuation since the initial disposal. The transaction delivers an internal rate of return of 12.9% and a 1.9 times multiple on invested capital. Future Biogas has delivered approximately 21% growth in earnings before interest, tax, depreciation and amortisation across the six facilities since its initial investment, with full ownership expected to accelerate capacity expansions and operational improvements. The acquisition will initially be funded through an equity commitment from 3i Infrastructure, an investment company focused on infrastructure and Future Biogas's existing cash, ahead of a refinancing, with the majority of the equity funding expected to be returned before 3i Infrastructure's financial year-end in March 2027. 3i Infrastructure says the purchase price is consistent with its September 2026 valuation expectations. Foresight plans to use the net proceeds to substantially reduce borrowings under its revolving credit facility, strengthening its balance sheet and creating capacity for new investments. It retains five other anaerobic digestion facilities valued at £76.9 million and reaffirms its financial 2027 dividend target of 8.04p per share, with expected dividend cover of 1.2 to 1.3 times, and similar cover anticipated in financial 2028.
----------
HgCapital Trust PLC - London-based investment trust that provides access to private equity investments of manager Hg - Says Hg agrees to acquire a majority stake in Brussels-based 3E, a provider of renewable energy asset performance management software and technical advisory services. HgCapital Trust will invest approximately £6.1 million alongside other institutional clients of Hg through the Hg Mercury Fund. Financial terms of the overall transaction are not disclosed. Hg will acquire the stake from ReNew and minority shareholders, while 3E's founders and management retain an interest. Galvanize Climate Solutions joins as a minority co-investor. Investment will support 3E's artificial intelligence product development, international expansion, particularly in the US, and potential acquisitions. 3E's SynaptiQ platform monitors more than 50 gigawatts of solar, wind and battery storage assets. HgCapital Trust estimates liquid resources available for future deployment at £341 million, equivalent to 14% of its pro forma August 31 net asset value of £2.4 billion. Outstanding investment commitments will fall to approximately £2.0 billion. Transaction is expected to complete over the coming months, subject to customary closing conditions.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.