UK Mortgages dividend uncovered until 2020 – UK Mortgages Limited has announced results for the year from 1 July 2016 to 30 June 2017. The net asset value has fallen from 94.95p to 89.36p as dividends for the year of 6p were paid from revenue of just 0.41p per share with the balance coming from […]
Dunedin Enterprise sells Kee Safety – Dunedin Enterprise Investment Trust says that a contract has been signed, subject to completion, to sell its investment in Kee Safety, the market-leading provider of collective fall protection, safety systems and solutions. Completion of the transaction is due on 31 October 2017. Capital and accrued interest in Kee Safety […]
LXi funds Lidl in Chard – LXi REIT has exchanged contracts to provide forward funding for the development of a new food store in Chard, Somerset, pre-let to Lidl UK GmbH. The development represents an investment of GBP5.5 million, reflecting a net initial yield of 5.75% (net of acquisition costs). The property will comprise a […]
Longbow makes loans against Kingston property – ICG Longbow has completed a new loan to a privately-held property company with an aggregate value of GBP9.0 million. The ‘Quattro Loan’, which matures in January 2021, carries an initial LTV ratio of 83.7% and is secured by first ranking charges against a portfolio of three mixed-use properties […]
JPMorgan Smaller Companies’ board calls for more conviction from manager – JPMorgan Smaller Companies says that, for the year ended 31 July 2017, the total return on its net assets was +31.0%, compared with +23.4% recorded by the benchmark index. However, the return to shareholders was +28.7%, reflecting a widening of the share price discount […]
Empiric Student Property makes rare sale – The Board of Empiric Student Property plc says that the group has exchanged contracts to sell the freehold of a site in Forthside Way, Stirling for GBP2.0 million (excluding costs). The disposal is expected to complete on 27 November 2017. This site was acquired by the group in August […]
CatCo NAV plummets on hurricane impact – Markel CATCo Investment Management Ltd., has announced that the unaudited net asset value of CatCo Reinsurance Opportunities’ ordinary shares was $1.0795, as at the close of business on 30 September 2017. The ordinary shareholders are exposed to potential losses arising from Hurricanes Harvey, Irma and Maria. They say that, whilst […]
K&C REIT struggles with high overheads and weak property market – K&C REIT, the high-end residential property fund, has announced results for the year ended 30 June 2017. Its NAV fell to 8.57p from 9.42p (-9.0%). The shares are trading at 7.5p. They point out that the residential sales market has slowed over the last year, […]
LXi REIT buys supported living portfolio – The Board of LXi REIT says that the company has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Greater London (50%), Devon (30%), Surrey (14%), Essex (4%) and Northampton (2%). The purchase price is GBP18.9 million, […]
Duke agrees new royalty finance for Lynx Equity – Duke Royalty Limited has entered into its second royalty financing agreement with Lynx Equity (U.K.) Limited (“Lynx UK”), the UK-based subsidiary of Lynx Equity Limited (“Lynx”). Duke has committed GBP 7.0 million, with an initial tranche of GBP 4.5 million to be drawn down immediately, with the additional […]
