Arnhold, the US value investor, is taking its fight against the merger of Ocean Wilsons (OCN) and Hansa Investment Company (HANA) to the court today. According to Ocean Wilsons, which last month rejected Arnhold’s criticisms that the transaction was “unfair” to its shareholders, the New York-based firm plans to appear at the court sanction hearing […]
Half-year results from Vietnam Enterprise and BioPharma Credit with the last interims from Downing Renewables before its sale plus transactions from Riverstone Energy and Third Point Investors. Vietnam Enterprise Investments (VEIL) underperformed in the first half of the year with net asset value (NAV) per share rose rising just 0.9% in US dollar terms versus […]
International Biotechnology Trust enjoys another premium takeover for one of its companies; there are results from Middlefield Canadian, New City High Yield and Schroders Capital Global Innovation; and Foresight Environmental Infrastructure clears its discontinuation vote. International Biotechnology Trust (IBT) says 89Bio, a US Nasdaq-listed company accounting for 0.5% of its £230m portfolio, yesterday received a […]
The board of battery fund Gore Street Energy Storage (GSF) remains under pressure after shareholders blocked two special resolutions at yesterday’s annual general meeting and over a quarter voted against the re-election of chair Patrick Cox. Including the votes of rebel shareholder RM Funds, which holds a 6% stake, nearly 27% of votes were cast […]
Another “alternative assets” investment company heads for the scrap heap after Life Science REIT (LABS) concludes its strategic review and opts for a managed wind-down. The £139m real estate investment trust, whose shares trade 48% below a depressed net asset value (NAV), said the potential value of selling its assets over the next 12 to […]
Pressure mounts on poorly performing £1.6bn global smaller companies trust overseen by star fund manager Terry Smith after activist hedge fund Saba Capital reveals a £229m holding. Saba Capital has hiked its position in Smithson (SSON) to over 14%, putting the activist hedge fund in a strong position to challenge the £1.6bn global smaller companies […]
Shares in Hydrogen Capital Growth (HGEN) have been suspended while its new fund managers at RWC struggle to ascertain the valuation of its investments in clean energy. The company, whose market value had plunged to £33m in the bear market for renewables, said delays in the provision of information from its previous fund managers and […]
Premier Miton Global Renewables Trust (PMGR), a £19m split capital infrastructure securities fund, has confirmed its intention to wind up after concluding the repayment of its maturing zero dividend preference shares in November will leave it too small to continue. It will offer ordinary shareholders their money back at close to net asset value (NAV) […]
Half-year results from 10%-yielding Foresight Solar, a first quarter update from Cordiant Digital Infrastructure, plus a new broker for North Atlantic Smaller Companies and share buying by the boss of Molten Ventures. Foresight Solar (FSFL) has received indicative offers from bidders for its Australian portfolio and will “carefully consider” whether to sell and return some […]
Private equity fund Pantheon International (PIN) has simplified the capital allocation policy funding share buybacks but disappointed those who hoped for a step-change in the battle to rerate its depressed share price. Ahead of a capital markets session in the City of London this afternoon to explain phase three of its three-year corporate strategy programme, […]
