As we had expected, given its strong track record and relatively small discount, there was little appetite for Gulf Investment Fund’s latest tender offer. The tender pool determination date was set at 11 April 2023. As at that date the final tender offer asset value was $492,144.60, giving a tender price of $1.9555 per share. […]
In QuotedData’s morning briefing 13 April 2023: Round Hill Music (RHM) had FTI Consulting produce another independent valuation report on its portfolio. The FTI Report supports the valuation as at 31 December 2022, prepared by the company’s original independent valuer, Citrin Cooperman. FTI comes up with two weighted average discount rates: one assumes the use […]
BioPharma Credithas announced that it has entered into a definitive senior secured loan agreement with ImmunoGen along with BioPharma Credit Investments V. The company will invest up to $62.5m and BioPharma-V will invest up to an additional $62.5m in parallel. $37.5m was drawn at closing in the first tranche and up to an additional $25.0m […]
Schroder UK Public Private Trust is making its first transaction in Asia, with an investment of $8.0m (about £6.6m) in AgroStar (Ulink Agritech Pvt. Ltd.), one of India’s foremost agricultural technology (AgTech) start-ups. You can visit its website here. This investment forms part of a $25m (£20.6m) total investment by Schroders Capital that led the […]
Octopus Renewables Infrastructure Trust has agreed to invest up to £5m into HYRO Energy Limited, a new joint venture between the trust (co-invested alongside another fund managed by Octopus Energy Generation, Sky (ORI SCSp) and Renewable Energy Systems. HYRO has been established to develop green hydrogen electrolysis projects in England, Scotland and Wales for industrial […]
Dunedin Income Growth’s results for the year ened 31 January 2023 show that its NAV increased by 2.4% on a total return basis, underperforming the All-Share Index which produced a total return of 5.2%. The chairman notes that just 23% of companies outperformed the benchmark index. The best performing sectors were energy, defence and mining […]
Gresham House Energy Storage has announced its audited annual results for the year ended 31 December 2022. 2022 performance highlights NAV total return (TR) of 39.1%, mostly driven by revaluation of new projects and increases in third-party revenue forecasts [Share price total return not disclosed in the report but we think it was 29.1%] EBITDA of […]
Nippon Active Value Fund has published results for the year from 1 January 2022 to 31 December 2022. At the end of the year, the NAV 140.5p, +3.5% over the year and the MSCI Japan Small Cap Index returned -1.6% (both in sterling terms). The closing share price on 31 December 2022 was 117.5p, reflecting […]
In QuotedData’s morning briefing 6 April 2023: JPMorgan Japanese (JFJ) has a new revolving credit facility of 10bn yen with the capacity to increase this by a further 2bn yen. Diverse Income (DIVI) has reminded shareholders that they can, if they wish, take advantage of its annual redemption facility at the end of May each […]
Asset Value Investors (AVI) has submitted its opinions on best practices for takeovers in Japan to the Fair Acquisition Study Group of the Ministry of Economy, Trade and Industry (METI). The response was in respect of a request made by METI as a public consultation announced on 22nd February 2023 We reproduce the text of this […]
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