Shareholders in Herald (HRI) investment trust have until 26 June to vote on the make-or-break tender offer announced by the £1.4bn technology fund last month. Herald has published a circular setting out the timetable for the offer for shareholders to sell up to two thirds of its shares back to the company if they wish. […]
NB Private Equity Partners (NBPE) has doubled its share buyback programme to $240m (£178m) as the £612m co-investor in unquoted companies intensifies efforts to narrow its wide discount and improve shareholder returns. The Guernsey investment company, which with the help of New York-based Neuberger invests directly in companies alongside leading private equity managers, yesterday said […]
DL Invest, the Polish logistics group that failed to stop the wind-down of Abrdn European Logistics Income (ASLI) in February, voted down two resolutions at the real estate investment trust’s AGM yesterday. Special resolutions nine and 10 permitting ASLI to buy back its shares and call general meetings on not less than 14 days’ notice […]
Shares in Bluefield Solar Income (BSIF) jumped up to 16% this morning after the high-yielding renewables fund accepted a £548m cash bid from biomass generator Drax (DRX), six months after putting itself up for sale. Drax beat a shortlist of bidders after agreeing to pay 92.574p per share. Including a 2.25p interim dividend due this […]
Universal Music Group (UMG) has rejected the $64.3bn (£48bn) takeover offer made by Bill Ackman’s Pershing Square Capital Management two months ago. The US-focused but Euronext Amsterdam listed business said on Friday evening that Pershing Square’s proposed merger with its New York listed special purpose vehicle SPARC Holdings was “not in the best interests” of […]
European Opportunities Trust (EOT) is to wind up and give shareholders a choice of rolling into a new open-ended Liontrust fund run by manager Alexander Darwall or switch into the top-performing JPMorgan European Growth & Income (JEGI) if they wish to remain in an investment trust. There will also be a full cash exit at […]
CT UK High Income (CHI), the £132m UK equity income trust run by David Moss at Columbia Threadneedle, delivered a total underlying investment return of 18.3% in the year to 31 March, behind the 21.5% of the FTSE All-Share index. Ordinary shareholders received 15.3% and B-share holders, who receive capital payments instead of dividends, got […]
Finsbury Growth & Income (FGT) plans to hike dividends by 50% from October and to fully gear up in order to boost shareholder returns after Nick Train’s underperforming investment trust suffered a 14.4% fall in the six months to 31 March after several of his key holdings slumped on fears of the competitive threat from […]
Sirius Real Estate (SRE) has added to its defence-related assets with the €49.8m (£43.1m) acquisition of a light-industrial business park in Fulda, north-east of Frankfurt. The £1.6bn Anglo-German business park investor said the 112,867 sqm plot was fully let with its main tenant, a “high quality” German personal armour manufacturer, accounting for 78% of the […]
Annual results from HICL Infrastructure (HICL) show the £2.4bn investment company is taking steps to placate shareholders after the failed merger attempt with InfraRed Capital stable mate Renewables Infrastructure Group (TRIG) late last year. Following consultation with half of its shareholders, HICL is proposing moving to a biennial continuation vote starting in 2028 if its […]
