Meeting customer needs, giving investors returns

Hardman & Co Research – Initiation of Coverage on Duke Capital (DUKE): Meeting customer needs, giving investors returns DUKE’s unique product provides SMEs across diversified sectors with hybrid capital, allowing the existing team to retain control. By optimising the best of equity and debt, DUKE aims to achieve equity-type returns with debt levels of risk. The loan and participating preference share elements support DUKE shareholders’ high (2024E: 9.0%), growing (2026E: 7% above 2024), and covered dividend. Early exit fees and equity stakes should generate ongoing capital growth as the portfolio matures. PE-style due diligence before providing capital, and board participation after, reduces downside risk. Management and shareholder interests are aligned. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/duke-meeting-customer-needs-giving-investors-returns/ If you are interested in meeting the company, you can register your interest by clicking on the above link. To contact us: Hardman & Co 9 Bonhill Street London EC2D 4DJ www.hardmanandco.com Follow us on Twitter @HardmanandCo Contact: Mark Thomas mt@hardmanandco.com Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.