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Shard Capital and Sender International structure and issue Foreign Currency Convertible Bonds for Lancer Container Lines Ltd

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Shard Capital announces the issuance of a US$30 million Unsecured Foreign Currency Convertible Bonds (FCCB) for India listed Lancer Container Lines Ltd.

The FCCBs were fully subscribed by investors at the time of closing.

The structure, which offers a 5 year 0% term, is convertible by the bondholders into Lancer Container Lines Limited new issued ordinary shares at a fixed price per share at the option of the bondholder. The FCCBs are listed on the Luxembourg stock exchange.

Shard Capital Partners LLP acted as Lead Manager.

Sender International Ltd acted as structuring advisor.

Pillsbury Winthrop Shaw Pittman acted as legal counsel to Shard.

Chris Woods, Partner at Shard Capital commented, “We are delighted to be involved in assisting with the delivery of this transaction to the market and look forward to providing professional investors with execution, custody and trading services for the Lancer Container Lines Ltd foreign currency convertible bonds.”

Adrian Sender, Managing Director at Sender International commented, “This well-organised structure and transaction provides an excellent approach of leveraging the capital markets for raising funding and investing into Indian listed companies and we look forward to being involved in other similar transactions in the future.”

James Campbell, Partner at Pillsbury commented, “We have been pleased to act for Shard on this transaction and delighted that the issue was positively received by investors.”

Mr. Abdul Khalik Chataiwala, Chairman and Managing Director of Lancer Container Lines Ltd commented, “we are pleased to announce that Lancer Container Lines Ltd (LCL) has successfully placed and priced USD 30 Million of unsecured Foreign Currency Convertible Bonds (FCCB). The proceeds of which will be used for rapidly scaling and expanding our operational reach. This is LCL’s debut convertible bond issuance which demonstrates our ability to tap a diverse set of global investors and the confidence of the investor community in LCL and our strong business model.

LCL remain committed to achieving its goals and taking the appropriate steps in the direction of being one of the market leaders in the logistics sector “

For further information, please visit www.shardcapital.com or contact:

SEC Newgate UK               ShardCapital@secnewgate.com

Elisabeth Cowell

Sally Walton

+44 (0) 7900 248 213

+44 (0) 7961 463 864

Note to Editors

Shard Capital is a leading, London headquartered wealth and asset manager. It also offers investment, dealing and capital markets services to private, corporate and institutional clients, supporting them to achieve a broad range of objectives through its highly tailored service. Shard Capital uses a range of platforms, markets or financial instruments to meet its clients’ needs.

In just 10 years, Shard Capital has grown organically to manage and administer more than £2bn of assets.

About Sender International

Sender International is a fast-growing boutique consulting firm in London.

Pillsbury Winthrop Shaw Pittman is a leading international law firm recognised as one of the most innovative law firms by Financial Times.

Shard Capital increases its global custody capabilities by partnering with SIX 

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Shard Capital Partners LLP is delighted to be partnering with the financial infrastructure operator SIX, to expand its Custody offering and increase its global reach.

As the leading and trusted Financial Market Infrastructure operating Central Securities Depositories (CSDs) in Switzerland and Spain as well as integrated international Custody services worldwide, SIX has a long-standing track record in delivering comprehensive and high-quality Custody services to wealth managers.

This new sub-custodian relationship will help Shard Capital further its wealth management aspirations by providing clients with the highest level of security for their assets and the best service at the greatest value. It also gives Shard Capital access to global, multi-jurisdictional support to continue its strategic global expansion.

The partnership will complement Shard Capital’s current custody arrangements, ensuring that the best service at the greatest value is available to all clients.

Commenting on the news, Toby Raincock, CEO, Shard Capital, said: “This is another important step in Shard Capital’s growth story, enabling us to bolster our custody capabilities and maintain our focus on providing quality, value propositions to our clients. Asset custody is of huge importance to our business and by partnering with a global operator such as SIX, we can better service our clients’ needs. We are now extremely well-placed to continue to progress our wealth management division thanks to our breadth of investment management expertise, sophisticated platform technology and range of high-class sub-custodians.

“Following our successful entry into the Irish market in September 2021 and the launch of Shard Capital Jersey’, we are continuing to focus on strategic global expansion and this partnership represents a fantastic opportunity to help accelerate this growth.”

Javier Hernani, Head Securities Services, SIX commented: “We are delighted to partner with Shard Capital and are looking forward to a close and strong collaboration. Our best-in-class market access models, expertise and integration capabilities combined with our growing international presence are the basis for flexible end-to-end Custody services tailored to clients’ needs and ensuring highest client experience. With the recently established teams, one in Singapore and one in the United States, SIX is now able to provide even more direct market access internationally, enabling us to offer relevant market know-how to Swiss and international customers. We are growing for our clients and at the same time supporting them in their growth and expansion ambitions.”

For further information, please visit www.shardcapital.com or contact:

Media Enquiries

Shard Capital c/o SEC Newgate      ShardCapital@secnewgate.co.uk
Sally Walton            Isabelle Smurfit     +44 (0) 7961 463 864 +44 (0) 7525 133 461

SIX

Media Relations: T +41 58 399 2227 or pressoffice@six-group.com

Shard Capital:

Shard Capital is a leading, London headquartered wealth manager. It also offers investment, dealing and capital markets services to private, corporate and institutional clients, supporting them to achieve a broad range of objectives through its highly tailored service. Shard Capital uses a range of platforms, markets or financial instruments to meet its clients’ needs.

In just 10 years, Shard Capital has grown organically to manage and administer more than £1bn of assets. The Shard Capital team includes more than 75 specialists in the UK and abroad and its leadership team has a proven track record in successfully managing financial and professional services companies, gained at brands such as Barclays, Deutsche Bank, Brewin Dolphin, KPMG and EY.

SIX:

SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 3,685 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 73.5 million in 2021.

New investment services business launching in Jersey

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A new and independent investment services business, Shard Capital, has launched in Jersey.

Offering discretionary, advisory and execution only investment services to trust, family office and private clients, including any clients who require a Jersey based, cost effective custodian for safekeeping their assets.

Shard Capital Jersey’s independence and local decision-making ability allows it to be agile and responsive to changing economic conditions and client demands, in a world that is adapting to unprecedented challenges. The business has flexibility to work with business partners that are best positioned to help deliver efficient and lower cost client centric solutions.

Led by CEO Greg McIntyre, the team has many years of investment experience and expertise.

Commenting, Greg McIntyre, CEO:

“We are delighted to announce the launch of Shard Capital in Jersey. As a fully independent company we will provide our clients with a bespoke, personalised director led offering. The key to delivering a great client experience is in the team we are building, and we are therefore delighted to have seasoned investment professionals Marc Schroeder and Mike Hollings helping to lead the business.

“This is a hugely exciting time for us. Following extensive feedback from trustees, we are delighted to launch a bespoke defensive investment strategy. This solution is available to clients who would like to increase returns on existing cash holdings, but don’t want to invest in the financial markets. We are confident that we have a suitable solution and look forward to further diversifying our service offering in the months ahead.”

Shard Capital (Jersey) Limited is regulated by the Jersey Financial Services Commission and is an associated company of Shard Capital Partners, an FCA regulated asset and wealth management business based in the UK.  This relationship brings two culturally aligned businesses together to share expertise, resources and networks. Shard Capital Partners has a strong track-record, supported by more than 90 staff and having over £1.5bn* in assets under management and administration.

*March 2021

For further information, please visit www.shardcapitaljersey.com

Media Enquiries

SEC Newgate                                                          ShardCapital@secnewgate.co.uk

Sally Walton                                                             +44 (0) 7961 463 864

Isabelle Smurfit                                                       +44 (0) 7525 133 461

October 2021 Commodity Derivatives Report

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In this month’s Commodity Report, Ashley Boolell, Partner at Shard Capital and Head of Commodity Derivatives covers the usual 10 commodities, which includes: oil, precious metals, forex and base metals and this time an additional commodity, natural gas.

You can download the full report on the Shard Capital website here: https://www.shardcapital.com/capital-markets/commodities/#report

Executive Summary:

Paul Tudor Jones, the American billionaire hedge fund manager, conservationist and philanthropist once said: “There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it’s the end of a bull market or the end of a bear market.”

The “last third” of a trend that Jones refers to is that Mad Max moment where the decision to get in or get out of a position becomes increasingly perilous since two fears combine to mess with the trader’s head: the fear of losing money and the fear of leaving money on the table. It is in that final third that these fears become very difficult to control.

Well, let us take two examples: natural gas and palladium. The first one is facing serious supply issues while the latter is rapidly losing its status as the best-performing precious metal. To put this into perspective, going simultaneously long on the Dutch TTF Natural Gas Futures Contract and short on palladium on July 1, 2021 would have resulted in a 200% gain on September 30, 2021 assuming that the positions were closed. Not a bad return over 66 trading days.

Now the key question is: are we in the last thirds of the natural gas bull run and the palladium bear run?

Please note: This report is intended for Professional Investors only. By inputting your details, you are confirming that you are a Professional Investor.

Q2 2021: The UK Issued 66 Investor Visas (previously Tier 1) to Main Applicants

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Home Office Immigration Statistics – Data Release Q2 2021: The UK Issued 66 Investor Visas (previously Tier 1) to Main Applicants
By Farzin Yazdi, Head of Investor Visa at Shard Capital “An impressive opening! During Q2 ’21 the UK began to remove COVID restrictions and today’s data release certainly reflects this with 66 Investor Visas issued to main applicants. Applicants from China & Hong Kong as usual dominated this visa route accounting for a third of all Investor Visas issued followed by Russia, and the United States.  For over a year, we have highlighted the trend of increasing investment migration from developed nations such as the United States and Shard Capital’s specialist US Persons offering, and this trend is continuing to gather pace. Also of note, was the first European applicant from Hungary. Refusals in the Investor Visa category are typically low because applicants must go through several stringent checks prior to applying, and this quarter saw three keeping it under 5%. Do it yourself applications always end in disaster from what I have seen and heard. For us we do not open an Investor Visa account unless you have appointed an immigration lawyer or advisor to assist you through your journey. Looking ahead, Shard Capital’s dedicated Investor Visa team has seen a doubling in the number of enquiries over the past two months from Investor Visa applications. Given the lead times these enquiries will filter through to the Home Office statistics in the following two quarters. Personally, I see this due to several factors such as the UK reopening and continuing its global dominance, clients and their professional advisors realising that Investor Visa Investment Management is a specialist financial trade, and a number of financial institutions not offering Investor Visa accounts anymore. Afghanistan Unfortunately, political unrest drives economic migration.  Historically, since 2011 the Investor Visa category has issued 26 Investor Visas to main applicants and a total of 121 visas including their dependents. We have seen several Afghani nationals enquire into this category for themselves and family members. While I do not see significant numbers, I expect a handful of Investor Visas to be issued in the following quarters. UK Value for Money? From an investment perspective, the UK’s benchmark indices performed well during Q2 ’21 increasing around 6%, however relative to global benchmarks it did underperform. We did however witness a significant increase in inbound M&A investment from overseas during first half of 2021, especially private equity deals. This indicates to us that the UK equity market offers good value to investors after a period of underperformance. 25 Years and a thank you! On a personal note, next month marks 25 years since I started to work in the square mile as a stockbroker.  Yes, I am getting old!  What a journey it has been as a migrant, moving to London from the US. I wanted to thank all my clients, colleagues current and ex, intermediaries, friends, and family. The recent peer review has been truly humbling, I feel blessed that what I do is not just a job but a way to help people get a better quality of life and hopefully will be able to do so for another 25ys!”
Source: Shard Capital
Source: Shard Capital
Source: Shard Capital

Shard Capital enters Irish market with stake in Dublin-based Omnium Investment Platform

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2Shard Capital, a leading, London headquartered wealth manager, has agreed to take a 50% stake in the Dublin-based investment platform “Omnium”, the innovative technology solution for financial advisers in Ireland.

The deal gives Shard Capital access to a strong digital platform as well as access to new markets with a regulated entity to springboard its plans for expansion within Ireland and the European Union.

In turn, the investment from Shard Capital, which is subject to regulatory approval, will enable Omnium to accelerate its growth trajectory and capitalise on the huge demand for its digital platform over the last year.

Shard Capital CEO, Toby Raincock, adds:

“Shard Capital and Omnium are both client-focussed, solutions-led businesses and our combined entrepreneurial spirit and agility will ensure we are well-placed to create innovative solutions for clients. Shard and Omnium’s partnership represents a fantastic opportunity for expansion for both organisations and provides us with the ideal platform to expand our offering across both Ireland and the EU27.”

Christopher Ovenden, CEO, Omnium Investment Platform comments:

“The demand for our digital platform has shot through the roof in the last 12 months where we have seen five years of digital transformation take place in one year.

“By working with Shard Capital, we will be able to accelerate our enhanced offering to clients in Ireland and the EU, as well as extend the range of services we provide. Shard’s stellar reputation for excellence in client servicing fits in with our own commitment to providing the highest quality of service, and with access to their experienced, market-leading team, Omnium is ideally placed to accelerate our ambitious growth plans in the near future.”

The transaction concerned will see Shard Capital International Ltd obtain a 50% interest in Omnium and is subject to obtaining regulatory approval of the Central Bank of Ireland (pending at time of release).

For further information, please visit www.shardcapital.com or contact:

Media Enquiries

SEC Newgate            ShardCapital@secnewgate.co.uk
Sally Walton                Isabelle Smurfit   +44 (0) 7961 463 864 +44 (0) 7525 133 461

Note to Editors

Shard Capital:

Shard Capital is a leading, London headquartered wealth manager. It also offers investment, dealing and capital markets services to private, corporate and institutional clients, supporting them to achieve a broad range of objectives through its highly tailored service. Shard Capital uses a range of platforms, markets or financial instruments to meet its clients’ needs.

In just 10 years, Shard Capital has grown organically to manage and administer more than £1bn of assets. The Shard Capital team includes more than 75 specialists in the UK and abroad and its leadership team has a proven track record in successfully managing financial and professional services companies, gained at brands such as Barclays, Deutsche Bank, Brewin Dolphin, KPMG and EY.

Omnium Investment Platform:

Omnium is among the most innovative and comprehensive Investment Platforms in the domestic market, providing a transparent partnership model to intermediaries, trustees, brokers and wealth managers. The platform aggregates multiple asset classes in one place, providing straight-through processing & digital signatures, increasing transparency and reducing the cost of investing to the end-investor – all in a truly independent environment.

The platform also drives massive efficiencies for investment managers via data aggregation and automation thus driving the success of their operating models.

Shard Capital Partners with Walking with the Wounded to Sponsor The Grenadier Walk of Oman Expedition

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Shard Capital have partnered with Walking with the Wounded to sponsor its ambitious The Grenadier Walk of Oman trek across The Arabian Desert.

The Duke of Sussex will support the challenge as the official Expedition Patron along with generous support from the Royal Office of HM Sultan Haitham bin Tariq’ and in partnership with the Omani Armed Forces.

The Grenadier Walk of Oman expedition will commence on 20 November 2020 and will consist of a 4-man team of ex-service personnel, trekking 400km over the course of 21 days, ending on 11 December 2020.

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Shard Capital CEO Toby Raincock said,

Toby Raincock, Shard Capital CEO, finished with, “Having supported Walking with the Wounded for many years, Shard Capital is proud to sponsor The Grenadier Walk of Oman trek and in doing so, solidify its relationship with this fantastic foundation. Our team includes a number of people who previously served in the military and together, we salute the bravery of those injured in service who will be participating. We look forward to celebrating their success on completion of this extreme trek.”

The ambitious trek pays homage to the legendary travels Wilfred Thesiger took across the Arabian Peninsula in the 1940s and will also take the team across part of the Empty Quarter— the world’s largest sand desert, before bringing the arduous trek to a close on Oman’s Armed Forces Day.

The final team, all of whom have physical or cognitive injuries, will endure hunger, thirst and extreme temperatures to highlight the extraordinary courage and determination of the men and women who have been wounded while serving their countries and to draw attention to the support needed in their transition to civilian life.

Due to the hostile conditions and the nature of the injuries involved, the expedition teams will be followed by a support team, who will be on hand in case of emergencies.

Trekking around 20km to 22km per day, the team will endure temperatures as high as 95°F as they pull their custom-built cart, weighing in excess of 300kg, across the unforgiving Omani desert.

Before the final team is revealed, they will undergo a rigorous selection process in July to test both their physical and mental strength before preparing for this extraordinary challenge in the Middle East. Details of the selection process and expedition team will be revealed soon.

Other partners include INEOS Grenadier as lead partner, British Outdoor Clothing Brand Craghoppers, Drink & Sports Brand Monster, Satellite Communications Specialists Avanti Communications and The Invictus Games Foundation.

Our stock picks for 2020 report

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Our stock picks for 2020

Due to the popularity and success of our 2019 report, we have written a “Top Stock Picks for 2020” report. You can can download the full report here.

 

Below is a preview of the 2020 report:

Key events in the year ahead and potential risks

SLOWING GROWTH IN CHINA & EUROPE

The past year has been a difficult one in global manufacturing and trade as there has been a significant slowdown. The ongoing concerns about the US-China trade deal have not helped matters and certainly contributed to the drop. There has been a domestic slowdown in China as households become more cautious and German auto sales have added further concerns. There is a high level of uncertainty across the globe and that may continue to keep growth subdued.

BREXIT DRAG?

Brexit still appears to be no closer to a resolution. October’s “Brexit bounce” gave a taste of what might happen should sentiment improve. A Conservative majority would lead to worries about the length of the transition period, while a hung parliament raises the prospect of a second referendum and prolonging the uncertainty. One thing is for certain and that is there is no immediate end in sight to Brexit.

TRADE WAR UNCERTAINTY

Tensions between the US and China appear to have eased in recent weeks as both side work to finalise a limited agreement. However, the markets still face continued uncertainty surrounding this issue. President Trump cast doubts recently by not agreeing to roll back tariffs on China, which dampened hopes of a resolution. The Trump administration slapped tariffs on more than $500 billion in Chinese goods, while Beijing has put duties on about $110 billion in American products. China has pushed for the U.S. to remove tariffs as part of the “phase one” deal. A conclusion is yet to be reached.

2020 US PRESIDENTIAL ELECTIONS

President Trump is on the campaign trail for re-election. His tenure has been littered with controversy, but he is still the favourite for re-election. A handful of billionaire investors are spending a lot of time fretting about the 2020 presidential contest, particularly the rising prospects of Democratic candidate Elizabeth Warren. But Paul Tudor Jones warned in a CNBC interview that the stock market is certain to fall if any Democrat wins the 2020 race, and that’s because it all comes down to taxes. Trump has been great for investors in the US but this creates the potential for inequalities between the rich and the poor.

2020 Stock Picks

Uncertainties aside, in this report we have highlighted stocks that we believe offer excellent value and potentially fantastic rewards for investors in 2020.

Sharp fall in UK Tier 1 Investor Visa applicants

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By Farzin Yazdi, Head of Investor Visa at Shard Capital

During the third quarter of 2019 the amount of main applicant UK Tier 1 (Investor) visas granted fell by over 60% to 49, from 124 in Q2.

Commenting on the data, Rafael Steinmetz Leffa notes:

“Considering the rule changes which happened in March 2019, it seems the information about the changes has not yet filtered down to the overseas professional community. When the last major rule change took place in Nov 2014, we saw a sharp fall in applicants until the new rules were fully absorbed by the professional community and prospective migrants. The last spike in the numbers could all be attributed to people that applied prior to the changes and were granted the visas throughout the Q2 2019 period, creating a bottleneck effect.”

“Other professionals we talk to have great expectations around high net worth individuals immigrating to the UK due to the unrest in Hong Kong. However, we hold the opinion that – because of this surge in demand for immigration services – liquidity simply is not present. Most of the individuals migrating to the UK historically had a significant portion of their assets in property investments and that is an illiquid asset. It would be counter-intuitive to sell these assets now that prices have dropped.”

“Another reason we may not see actual numbers go up until after Q2 2020 is that the high net worth migration to the UK is still driven by education. This visa category is mostly used by parents that wish to accompany their children to school here, and the busy period of school admissions has just passed.”

Active and trading UK companies moving offshore

Major UK utility companies are attempting to protect shareholders from the threat of a cut-price nationalisation by moving offshore. This election hedge may have significant implications for those who hold these shares or corporate bonds in their portfolio.

Reuters news agency reported that SSE, one of the leading UK electricity and gas companies, has incorporated a Swiss holding company. National Grid has opened subsidiaries in Luxembourg and Hong Kong. Press reports stated that Anglian Water and Yorkshire water have created overseas holding companies.

One of the key requirements for a qualifying investment as defined in Annex A of the Guidance notes is for the active & trading company to have a UK registered address.

We urge other professionals to review and monitor this situation as we are for our clients.

Source: Shard Capital