Corporate activity dominated today's headlines, with Optima Health clearing an Irish FDI hurdle for its PAM Healthcare acquisition and AEW UK REIT confirming it is considering an all-share offer for Alternative Income REIT. Capricorn Energy also revealed it has received, and rejected as undervalued, multiple acquisition proposals for its Western Desert assets. In capital markets, HSBC Holdings strengthened its base with a US$2.5 billion issuance of perpetual subordinated contingent convertible securities, while Parvus Asset Management notably increased its stake in SSP Group to 14.33%. Meanwhile, Maven Income and Growth VCT 3 reported strong annual results, proposing a 0.60p dividend reflecting profitable exits and a 7% annual yield.
Maven Income and Growth VCT 3 MIG3 PLC released its final results for the year ended 30 November 2025, reporting a NAV total return of 152.82p per Ordinary Share, an increase from the previous year. Although the NAV per share decreased slightly to 47.95p, the company successfully completed two profitable private company exits. The board proposed a final dividend of 0.60p per Ordinary Share, bringing the annual yield to 7%.
Capricorn Energy CNE confirmed it has received several proposals from Dragon Oil to acquire its assets in the Western Desert. The company's board, however, believes that the latest proposal does not adequately reflect the underlying value of these assets. Capricorn Energy emphasized its commitment to maximizing shareholder value, suggesting that a higher valuation or alternative strategic options are being pursued. This signals potential future M&A activity in the energy sector.
Optima Health OPT announced it has secured Irish FDI clearance for its proposed acquisition of PAM Healthcare Limited. This regulatory approval was the final outstanding condition, making the acquisition now unconditional. The deal is anticipated to close on or around 26 March 2026. This acquisition represents a strategic expansion for Optima Health, enhancing its position as a provider of technology-enabled corporate health and wellbeing solutions.
SSP Group SSPG announced a major holding notification, revealing that Parvus Asset Management Jersey Limited has increased its stake to 14.33% of the total voting rights. This represents an acquisition of financial instruments, raising its previous position from 13.00%. Such a significant increase by a large institutional investor can signal renewed interest or a strategic commitment to the company operating in the travel concessions sector.
HSBC Holdings HSBA successfully issued US$2.5 billion in perpetual subordinated contingent convertible securities, split into two equal tranches. These securities, bearing coupon rates of 6.750% and 7.000%, are callable in 2031 and 2036, respectively. The completion of this major debt issuance enhances HSBC's financial flexibility and regulatory capital position. Application has been made for the securities to be admitted to the Official List and trading on Euronext Dublin.
AEW UK REIT AEWU confirmed it is actively considering an all-share offer to acquire the entire issued share capital of Alternative Income REIT (AIRE). This announcement follows earlier speculation and AIRE's disclosure regarding a potential offer. While no firm offer has been made, this development highlights a potential significant consolidation or strategic move within the UK real estate investment trust market. Shareholders of both companies are advised to take no action at this time.