Scottish Mortgage has reported interim results for the six months ended 30 September 2015. It was a period of falling markets – the FTSE All-World Index fell by 11.8%. Scottish Mortgage did a little better, its NAV fell by 10.9% over the period and the share price fell by 9.7%. The interim dividend is being […]
Kennedy Wilson Europe is offering €300m of 3.25% senior unsecured notes due 2025 as the first part of a £2bn programme of bond issuance announced yesterday. The Euro Medium Term Note Programme allows Kennedy Wilson Europe to issue, from time to time, up to £2,000,000,000 of various types of debt securities in certain markets and currencies. Kennedy […]
Over the year to the end of August 2015, Fidelity Special Values generated a return on net assets of 7.4%, well ahead of the -2.3% return posted by its benchmark. The return to shareholders was even better at 12.4% as the discount narrowed from 6.3% to 2.0%. The dividend was increased from 3.3p to 3.35p. […]
London & St Lawrence has published results for the year ended 31 August 2015. Over that period the total return on net assets was -0.5%, which compares well with the -5.6% return on the FTSE All-Share Index. The shares moved from trading on a 2.5% premium to a 1.2% discount though and so the return to shareholders […]
3i Infrastructure has published interim results covering the six month period that ended on 30 September 2015. It generated a total return on net assets of 6.5% over the period (adjusting for the payment of a special dividend at the end of July). The interim dividend is 3.625p – in line with their objective of […]
International Biotechnology Trust has announced results for the year ended 31 August 2015. Over this period the NAV return was 48.2% which compares very favourably to the return on IBT’s benchmark, NASDAQ Biotechnology Index, which returned 33.6%. The share price did even better as the discount narrowed from 20.5% to 6.0% and shareholders got a return […]
Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, has announced that it has entered into a HK$282 million (US$36.3 million) five-year loan facility with Hang Seng Bank for its properties in One Central Residences. The new loan facility serves to finance the repayment of tranche 1 of the original loan which matures on 25 […]
Gresham House is to buy Aitchesse, a specialist UK commercial forestry manager, as it continues on its path of transforming itself into a specialist asset management business. A subsidiary, Gresham House Holdings Ltd. (GHHL), has agreed to acquire Aitchesse funded from a combination of cash, loan notes and Gresham House shares. On completion, the Company […]
Randgold Resources reported earnings of US$0.45/share in Q3 15, against EPS of US$0.63 in the corresponding quarter of 2014, despite record gold production of 305 koz. Attributable income fell 10% as the gold price received fell from US$1,277/oz to US$1,122/oz. Cash costs were marginally higher at US$699/oz. For the first nine months of 2015, the […]
Lonmin plc has guided that it will more than halve its asset value and take an impairment charge of between US$1.85-2.05 billion when it releases it results for the financial year ended 30 September 2015, on 9 November. This follows the company’s adoption of a new business plan and financial restructuring that concentrates on lower […]
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