Two new directors for IBT – International Biotechnology Trust has two new non-executive directors. Kate Cornish-Bowden and Patrick Magee take up their roles today. They will replace two existing directors. John Aston intends to retire from the Board at the conclusion of the AGM to be held in December 2020 and it is expected that Dr […]
In QuotedData’s morning briefing 19 May 2020 The Renewables Infrastructure Group is planning a fundraise through an issue of shares at 120p (a 5.8% discount to the share price and a 4.3% premium to NAV – more if you adjust for the 5p per share hit from power price falls discussed on 22 April). As usual, […]
What’s Goin’ On with Hipgnosis? Hipgnosis Songs is trading at 105p, an 8.5% premium to its NAV according to Morningstar. Its main attraction is an income stream uncorrelated with equity markets. The 5p per share annual dividend, paid in quarterly instalments, is enough to get income investors excited. The last dividend announcement said that the dividend […]
In QuotedData’s morning briefing 15 May 2020 Having collected 100% of rents due at the end of March, Triple Point Social Housing REIT has raised its dividend target for the year ended 31 December 2020 to 5.18p, 1.7p up on the figure for 2019. It has also appointed Stifel Nicolaus Europe Limited as sole corporate broker and […]
In QuotedData’s morning briefing 14 May 2020: Symphony International has reported a 38.4% fall in NAV to 60.4 cents over the first quarter of 2020. It sold the remainder of its stake in IHH Healthcare, freeing up $4.6m, got $7.5m in from its sale of land in Niseko (the Japanese ski resort) and, over 2020, sold […]
Aurora manager’s payday creeps closer – Aurora had a great 2019, beating the All-Share by 10.8% with a return on NAV of 29.9%. This included a dividend of 4.5p (up from 4p for 2018). The good performance encouraged the shares to trade at a premium and allowed the trust to expand in 2019, issuing £22.5m worth of […]
Duke Royalty plans paper dividend – Duke Royalty has been reviewing the situation with its business in light of COVID-19. It says “Through its diversified portfolio, Duke naturally has exposure to a range of sectors, some of which are impacted to a greater extent by Covid than others, such as hospitality & leisure. In certain […]
RM Secured Lending cuts management fee – the fee has been adjusted so that the manager is entitled to a fee of: a) 0.875 per cent. of the prevailing Net Asset Value (“NAV”) in the event that the prevailing NAV is up to or equal to £250 million; or b) 0.800 per cent. of the prevailing […]
North Atlantic has cash to take advantage of opportunities – North Atlantic Smaller Companies Trust posted a return on NAV of 18.2% for the year ended 31 January 2020, well ahead of Uk indices and almost matching the return on the S&P500 (+18.4%). The dividend was maintained at 30p. The manager says that “The major standout […]
In QuotedData’s morning briefing 12 May 2020: Gore Street Energy Storage says that construction work on its two 50MW battery projects in Northern Ireland has restarted (subject to social distancing measures). Construction is scheduled to be completed in December 2020, allowing sufficient time to complete necessary asset testing before the assets go online. the DS3 contracts […]
