In QuotedData’s other news 23 August 2019: Africa Opportunity shrinks board – Chris Agar, Dr. Vikram Mansharamani, and Mr. Peter Mombaur resign as directors with effect from 22 August 2019 so that the trust can save money. We have a raft of half-year reports: BMO Private Equity made 2.4% in NAV terms and 13.7% in share […]
Sherborne C investors nursing 50% loss – Investors who stumped up a pound a share to fund Sherborne Investors C now find that it is trading at a new low of 50p per share. That’s a meaningful discount to its asset value, prompting the question – why doesn’t an activist look to wind it up? […]
In QuotedData’s other news 21 August 2019 Regional REIT has made a sizeable acquisition – six office assets for £25.9m, comprising offices located in Birmingham, Bristol, Cardiff, Chester, Glasgow and Manchester. The assets total circa 172,442sq. ft. and are expected to provide a net income of approximately £2.36m a year from 27 tenants; equating to a net […]
In QuotedData’s other news 19 August 2019 – Acorn Income Fund has reported interim results showing its portfolio lagging the Numis Small Cap Index and the All Share. Acorn’s geared structure made up for some of the shortfall (the NAV return was 9.7% against 10.5% and 13.0% for the indices, respectively) and a narrower discount […]
Woodford watch – P2P Honeycomb merger off? – Sky News has a story which you can read here – that merger talks between P2P Global and Honeycomb Investment Trust have collapsed following objections from “several” shareholders in P2P including Aberdeen Standard Investments and Premier Fund Managers. The tie up makes logical sense in that both […]
LMS Capital completes Entuity sale – Contracts were exchanged in late July 2019 for the sale of LMS Capital’s investment in Entuity, with completion due on or before 30 September 2019. The company has confirmed that completion of the sale took place on 13 August 2019. After allowing for estimated transaction costs and payments due […]
NextEnergy issues more preference shares – NextEnergy Solar Fund has entered into an agreement with an investment vehicle owned by Universities Superannuation Scheme, whereby 100,000,000 preference shares will be issued, raising gross proceeds of GBP100m. The net proceeds will be used to repay the existing GBP90m short-term debt facilities and invest in NextEnergy’s pipeline of opportunities. The rights […]
In QuotedData’s other news 9 August 2019 BMO Global Smaller Companies has announced the issue of £35m of fixed-rate 20-year unsecured private placement notes at a coupon of 2.26%. This refinances the company’s 3.5% Convertible Unsecured Loan Stock (“CULS”) which matured on 31 July 2019. RDL Realisation has announced a special dividend of 255p per share. The special […]
JPMorgan Brazil asks for more time – JPMorgan Brazil has just released its results for the year ended 30 April 2019 and, while at least the NAV move was positive, once again the trust lagged its benchmark. A continuation vote is planned for this year’s AGM. The board is asking shareholders for more time to […]
AEW Long Lease rethinks its future – AEW UK Long Lease REIT has rejected several takeover approaches and plans to go it alone. The company received several proposals, but the board concluded none of the proposals reflect the true value of the group. The company said the proposals, in some instances, undervalued certain of the group’s assets or […]
