A bid battle for Alternative Income REIT (AIRE) has broken out with AEW UK REIT (AEWU) returning to the fray with a possible higher all-share offer. AEWU, a top-performing £169m UK real estate investment trust, said it was “considering” offering 0.725 of its shares for each AIRE share, priced at a 6% discount to AIRE’s […]
Workspace (WKP) non-executive director David Stevenson looks vulnerable ahead of the real estate investment trust’s (REIT) annual general meeting on 23 July after proxy adviser Glass Lewis this week joined rival ISS in recommending shareholders vote against the investment columnist and publisher’s re-election to its board. The entire WKP board is under threat as activist […]
Supermarket Income REIT (SUPR) has raised the £100m it was seeking in yesterday’s placing and retail offer. It will issue 120.5m shares at 83p, which, as the price is below the 87.5p per share of net asset value at 31 December, requires the approval of shareholders at a general meeting on 3 August. If this […]
HarbourVest Global Private Equity (HVPE) has passed its first continuation vote with over 98% support of shareholder votes. Results from the annual general meeting held in Guernsey on Wednesday afternoon show the special resolution on HVPE’s continuation was backed by over 32.9m shares, 98.2% of the total that were voted. Turnout was 48%. Over 590,000 […]
The Association of Investment Companies has called on incoming prime minister Andy Burnham to help “save our stock market” by abolishing stamp duty and reversing last year’s reduction of tax relief on venture capital trusts (VCTs). Burnham, the former mayor of Greater Manchester, is poised to replace Sir Kier Starmer as leader of the Labour […]
Gore Street Energy Storage (GSF) shares fell today after the investment trust’s new board unveiled a larger than expected fall in the battery portfolio after updating revenue forecasts. Net asset value (NAV) slid 14.8%, or 13p, to 74.9p per share in the fourth quarter of the company’s financial year, taking the total decline for the […]
NextEnergy Solar (NESF), a high-yielding renewables fund languishing on a 39% share price discount, has put itself up for sale and complained of the short-term horizons of some investors. The £268m investment company this morning invited bids from “bona fide parties”, saying that despite “the performance of its underlying portfolio of assets, NESF continues to […]
Supermarket Income REIT (SUPR) has launched a £100m share issue to fund the purchase of three supermarkets in Manchester, Edinburgh and Halifax for £118m and a further pipeline of six assets for £98m. The fund raise will comprise of a placing to professional investors and an offer to private investors through Retail Book. Chief executive […]
MIGO Opportunities’ (MIGO) relaunch as a higher conviction portfolio after the appointment of AVI’s Tom Treanor last year has paid off with the £69m investment company bargain hunter achieving a 20.6% return in the 12 months to 30 April. The investment trust, which invests in other London-listed funds when their shares are cheap, provided a […]
Schroder British Opportunities (SBO), the £55m growth capital fund facing a wind-down vote early next year, saw the value of its investments fall 3% in the 12 months to 31 March as the technology weighted portfolio was hit by fears of artificial intelligence (AI) disruption. Chair Justin Ward said the unquoted companies that accounted for […]
