Sharp widening of JPEL’s discount – JPEL Private Equity has announced results for the year ended 30 June 2020. COVID and other factors pushed the NAV down by 5.3% to $1.61, but the share price fell from $1.43 to $1.08, meaning that the discount widened from 15.9% to 32.9% and it is now 35.2%. JPEL […]
JZ Capital breaches debt covenant – JZ Capital has confirmed that it has not yet reached final agreement with its lenders as to the amended terms of its senior facility with Guggenheim Partners and is therefore in breach of its minimum asset coverage ratio and in default under the facility. The company is in discussions and […]
Investment Company has rethink – The board of The Investment Company Plc has published a circular in advance of a meeting at which shareholders will be asked to change the investment objective and investment policy of the company. New objective The current focus is on income generation. The board says “In recent years this has […]
In QuotedData’s morning briefing 8 October 2020: Schroder UK Public Private Trust (formerly Woodford Patient Capital) acknowledges the potential uplift to its NAV to come from the merger of Seedrs and Crowdcube. Like Augmentum, Schroder UK Public Private is an investor in Seedrs. Hg Capital Trust has secured a £200m multicurrency revolving credit facility. this boosts available […]
In QuotedData’s morning briefing 6 October 2020: Augmentum Fintech says Seedrs (which was 1.2% of its portfolio at the end of March) is planning to merge with Crowdcube. Also, Tide (11.5% of the portfolio) has been awarded another £25m (on top of the £60m it got in February 2019) of the RBS Alternative Remedies Package (the […]
Tetragon providing finance to Contingency Capital – Tetragon Financial and its diversified alternative asset management business, TFG Asset Management, have entered into an agreement with Brandon Baer to invest in his newly-created company, Contingency Capital, a multi-product global asset management business that will sponsor and manage litigation finance related investment funds. Contingency Capital will have its […]
Gabelli Value Plus+ board consults on way forward – the board of Gabelli Value Plus+ has issued a long letter to shareholders, the full text of that letter is here. In brief, ACG (which is opposed to liquidating the company) has written a letter indicating that (unspecified) litigation concerning the company may be a distinct […]
QuotedData’s weekly news show 2 October 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Jupiter UK Growth’s decision to give up Strategic Equity Capital’s new manager He then handed over to Andrew McHattie, who talked […]
IPOs take off – After a long hiatus, the investment company IPO market appears to be taking off. At present, Nippon Active Value is the only new trust to have launched this year. However, a queue of potential new funds is forming and we will soon find out which of them will make it across the […]
Buffetology prospectus published – Further to the announcement made by Buffettology Smaller Companies Investment Trust Plc, a newly established investment trust, on 25 September 2020, the company has today published a prospectus in connection with its initial public offering (“IPO”). The company is seeking to raise a minimum of £100m through the issue of ordinary shares […]
