Africa Opportunity to offer switch to realisation pool – “In accordance with the prospectus dated 28 March 2014 a continuation vote will be put to shareholders this year, which will take place at a general meeting at the time of the company’s AGM, which is currently expected to take place in June 2019. The continuation […]
Dunedin Income Growth redeemed its £28.6m 7.875% debenture stock as planned and at par (£100 for every £100 worth of debentures). It borrowed £30m at 3.99% fixed until 2045 ahead of this and funded the redemption by selling a portfolio of corporate bonds. International Public Partnerships is investing another £12.4m in the Midlands Batch Priority Schools […]
Ceiba’s first results show Trump impact – Ceiba Investments has published its first set of results since listing in the UK. Aberdeen Standard Investments paid the company $5m to buy the management contract. How this deal is treated in the accounts distorts the figures – either it is recognised straightaway or the accountants spread the […]
Oakley invests in Spanish online insurance firm – Oakley Capital Investments says its Fund III has agreed to form a joint venture with Admiral Group and Mapfre S.A. to combine Rastreator Comparador Correduría de Seguros S.L. (“Rastreator”) with Asesor Seguros Online S.L. and Asesor Consumer Services S.L. (together “Acierto.com”), two of Spain’s digital brokers for insurance […]
Civitas amends fee structure – Civitas Social Housing’s board and investment adviser have agreed to change the way that the adviser’s fees are calculated so that they are based on IFRS NAV instead of Portfolio NAV. The difference between the two NAVs is explained in our note Socially beneficial investing (see page 10). As the IFRS […]
Riverstone launches European power company – Riverstone Holdings LLC, manager of Riverstone Energy Limited, has announced the formation of Onyx Strategic Investment Management I BV, a newly formed European independent power producer. Onyx will have an initial focus on Germany and the Netherlands, following the signing of an agreement to acquire a fleet of coal- and […]
Gresham House Energy Storage has announced that it believes it will be fully invested by the end of the year. It is seeking to issue up to 75m new shares via a placing. Cantor Fitzgerald are running this, the closing date is 3pm on 24 May, the price is 101p – a premium to NAV […]
Globalworth buys two Polish office buildings – Globalworth is making two investments in Poland, for a combined transaction value of EUR113.2 million. Retro Office House, a newly completed office development located in central Wroclaw benefitting from excellent connectivity to all parts of the city and a range of public transport options, is to be acquired for […]
Witan Pacific announces third consecutive year of underperformance – For the year ended 31 January 2019, Witan Pacific has announced that its net asset value total return was -7.4% and the share price total return was -10.3%. These compare to a benchmark return of -5.4%. The chairman says that three of the company’s four underlying […]
AVI Japan Opportunity looking to expand – The board of AVI Japan Opportunity has announced a placing of shares in the company. Between today and 3pm on 10 May 2019 (or earlier if the company agrees) Nplus1 Singer Advisory and Kepler Partners will be working with the company to raise more money. Because the deal […]
