Baker Steel Resources Trust Ltd Edison initiates on Baker Steel Resources Trust
June 21 2019 - 10:17AM
RNS Non-Regulatory
TIDMBSRT
Baker Steel Resources Trust Ltd
21 June 2019
London, UK, 21 June 2019
Edison issues initiation on Baker Steel Resources Trust
(BSRT)
Baker Steel Resources Trust (BSRT) is unique in offering UK
investors access to early-stage (pre-IPO) and specialist listed
opportunities in the natural resources sector, which can be
higher-risk but offer the prospect of outsize potential returns.
The highly experienced investment team is very selective and aims
to generate gains through specific risks being mitigated as
projects progress along the development curve, rather than relying
on commodity price rises. Investments are typically made via
convertible loan notes, often in stages, to limit downside risk.
BSRT proactively works with investee companies to unlock value and
investments can take a number of years to mature. Performance has
varied since its launch (although ahead of most peers over one and
three years), but BSRT's investment team sees a number of near-term
catalysts for potentially significant valuation gains.
Recent NAV returns have been positive, and BSRT's 16.4% share
price discount to NAV is narrower than its 20.7% one-year average.
Under its policy to distribute at least 15% of net realised gains,
BSRT conducted a tender offer for 9.7m shares at 51p per share in
May 2019, following which it held a 2.0% net cash position. Future
distributions could be made via dividends, supported by prospective
royalty income.
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For more information please contact Edison:
Gavin Wood, +44 (0)20 3681 2503
Sarah Godfrey, +44 (0)20 3681 2519
investmenttrusts@edisongroup.com
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