Latest news with #Equitix
Yahoo
30-04-2025
- Business
- Yahoo
Tetragon Financial Group Limited Announcement of Dividend and Update Regarding Equitix
LONDON, April 30, 2025 /PRNewswire/ -- Dividend Announcement: On 30 April 2025, the Board of Directors of Tetragon declared a dividend of U.S.$ 0.11 (11.00 cents) per share in respect of the first quarter of 2025. The ex-dividend date is 5 May 2025. The record date is 6 May 2025. Payment of the dividend will take place from 30 May 2025. Tetragon's website ( includes information on Tetragon's Optional Stock Dividend Plan for those shareholders electing to receive dividends in the form of Tetragon shares. Shareholders may elect to receive dividends in the form of Tetragon shares by making a dividend share election up to 16 May 2025. If no election is made, the dividend will be paid in cash from 30 May 2025. Cash dividends may be received in Sterling by those shareholders making a dividend currency election up to 16 May 2025. If no election is made, the dividend will be paid in U.S. dollars from 30 May 2025. Update Regarding Equitix: Following on from our discussion regarding Equitix in our 2024 Annual Report and in our 14 October 2024 statement regarding press speculation, we note that the continued strong performance of Equitix, as well as other businesses on the platform, has enhanced the attractiveness of individual business transactions and other strategic opportunities as important ways of realising and hopefully accelerating the value inherent in TFG Asset Management. As such, the strategy for TFG Asset Management with respect to Equitix includes continuing to engage with strategic partners and financial advisors to explore options for executing on transactions or partnerships that would take advantage of this value enhancement. Although we do not expect to consummate a transaction with respect to Equitix in the immediate term, our strategy remains unchanged. About Tetragon: Tetragon is a Guernsey closed-ended investment company. Its non-voting shares are listed on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and also traded on the Specialist Fund Segment of the Main Market of the London Stock Exchange. Our investment manager is Tetragon Financial Management LP. Find out more at Tetragon's non-voting shares are subject to restrictions on ownership by U.S. persons and are not intended for European retail investors. Please see: Tetragon Investor Relations:Yuko Thomasir@ Press Inquiries:Prosek Partnerspro-tetragon@ +44 20 3890 9193U.S. +1 212 279 3115 This release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version of EU MAR as it forms part of UK law by virtue of the European Union (Withdrawal) Act (as amended). This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) under Section 1:107 of the Dutch Financial Markets Supervision Act as an alternative investment fund from a designated state. View original content to download multimedia: SOURCE Tetragon Financial Group Limited Sign in to access your portfolio
Telegraph
19-02-2025
- Business
- Telegraph
Broadband debt squeeze threatens taxpayers and rail pensioners' savings
One of Britain's fledgling broadband providers is facing a spiralling financial crunch that threatens to impact the retirement savings of hundreds of thousands of railway workers and the British taxpayer. Gigaclear is battling to plug a hole in its finances after one of its biggest investors rowed back on a commitment to provide hundreds of millions of pounds in critical funding. The financial crunch threatens to impact the £25bn Railways Pension Scheme (Railpen), which is a key investor in the broadband challenger outfit. Meanwhile, Britain's sovereign wealth fund is a guarantor to a big slice of its borrowings. Gigaclear, which targets its services at rural areas, has been left scrambling after struggling to secure promised cash from private equity firm Equitix. As part of a capital-raising exercise at the end of 2023, Gigaclear secured a pledge from Equitix to provide £420m of fresh capital to help bankroll the expansion of its network. However, Equitix has only injected a portion of what it committed to and is reluctant to invest more, according to financial newswire ION Analytics. Its investment was part of a broader financial package that included a new £1.5bn debt facility provided by a consortium of domestic and foreign banks. The UK Infrastructure Bank, which was re-badged as the National Wealth Fund in October, guaranteed £240m of the loans. It is solely owned and backed by the Treasury. Railpen became an investor in Gigaclear as part of an earlier cash injection in 2017, putting £45m into the company. Consultancy firm Teneo, a financial restructuring and insolvency specialist, has been hired to lead Gigaclear's search for alternative sources of funding. Gigaclear is one of a number of broadband challengers seeking to compete with former state monopoly BT. When interest rates were low, several start-ups seeking to build ultra-fast, full-fibre broadband networks sprang up. However, the vast sums of money required to build these networks have left finances stretched, particularly after interest rates surged in the wake of the pandemic. Billions of pounds have been poured into so-called alt-net brands in an attempt to boost competition in the broadband market but many have come unstuck after underestimating the sheer cost of building rival networks. In September, Gigaclear announced it would join other rivals in reining in expansion. It unveiled plans to cut jobs as part of 'planning for the next stage of its development', pledging to 're-focus on ultra-rural areas'. The company plunged deeper into the red in the most recent financial year, as pre-tax losses spiralled from £21.7m to £138.3m in 2023. Annual turnover of £33.8m was eclipsed by finance costs of £71.4m. Operating expenses jumped from £63.7m to £91.9m, and it ended the year with £10m of cash, down from £27m the previous year. Gigaclear was established in 2011 and at the last count had connected 560,000 premises in the UK, though 120,000 were signed up as customers. Though growth has accelerated in recent years, the firm is still a long way off hitting a target of 1m premises by 2027. Philip Jansen, the former BT boss, once predicted: 'There is only going to be one national network.' BT's faster and more reliable broadband roll-out would 'end in tears' for many of the underdogs, he said.
