However, we would note that this outperformance in the space comes from a really low base. On eight March 2018, SDVP issued 12,780,083 Zero Dividend Preference shares at 100p per share. On 11 April 2018, SDVP issued an extra 1,419,917 Zero Dividend Preference shares at 103p per share (a premium of 3p per share) and net proceeds of £1,500,000. On the 10 and 15 May 2018, SDVP issued an additional 100,000 and 200,000 Zero Dividend Preference shares at 104p per share (a premium of 4p per share), and net proceeds of £313,000. Pursuant to a mortgage agreement between SDVP and the Company, SDVP has lent the proceeds of the placing to the Company.
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