Edinburgh Worldwide says that, for the 12 months ended 31 October 2023, its NAV decreased by 23.6% and share price by 27.7%. By contrast, the S&P Global Small Cap Index total return was -4.3% (in sterling terms). The discount ranged between 6% and 23.6%, averaging 17%, and ended the period at 17.4%. Today, the discount […]
Bankers Investment Trust’s results for the year ended 31 October 2023 show it just failing to match its benchmark (FTSE World Index) in NAV terms and being hit by a widening discount. The NAV total return was 5.2% against 5.7% for the index and the return to shareholders was -0.7%. The year end discount was […]
Hipgnosis Songs Fund is proposing that the governing Articles of the company are amended, to enshrine the payment of a fee, at the board’s discretion, of up to £20m (in aggregate) by the company to any prospective bidders who approach the board seeking to make an acquisition of the company’s assets on terms that the […]
In QuotedData’s morning briefing 18 January 2024: Octopus Renewables Infrastructure Trust (ORIT) is targeting a total dividend of 6.02p for the current calendar year, up 4% from 2023’s 5.79p. The increase matches UK inflation as measured by CPI, making it three years in a row that it has increased dividends by UK inflation [although the […]
Since October 2023, we have been keeping you up to date with the investment companies industry’s fight to address misleading cost disclosures. Yesterday, we joined with around 300 co-signatories in submitting a response to HM Treasury’s call for comments on its proposed solution. You can read the document here. It is more than a little […]
The boards of LondonMetric and LXi have reached agreement on the terms of a recommended all-share merger. LondonMetric will acquire the entire issued and to be issued ordinary share capital of LXi as the merger is effected by means of a scheme of arrangement under Part 26 of the Companies Act. Each LXi shareholder will […]
NB Private Equity has just announced its latest dividend. William Maltby, the chairman said “Today’s announced $22m dividend represents the 23rd consecutive dividend payment to be made to shareholders, taking total capital returned to shareholders via dividends to $338m since 2013. Given the continued strong realisation activity in the portfolio, with $171m of realisation proceeds […]
Tufton Oceanic Assets has agreed to sell two Handysize Product Tankers, Pollock and Dachshund, for a total of $41.75m, which represents a 3.1% premium to the two vessels most recent holding NAV of $40.5m. The price helps confirm Tufton’s NAV methodology, while also demonstrating its ability to divest portfolio vessels at or above NAV. The […]
Atrato Onsite Assets reports that for the 12 months ended 30 September 2023, its NAV total return was 4.6%. The NAV per share slipped slightly from 92.8p to 92.0p but the dividend was increased from 3.01p to 5.0p. The dividend target for the current financial year is 5.5p and the board says that the 12-month […]
In QuotedData’s morning briefing 11 January 2024: Hipgnosis (SONG) says that Sylvia Coleman has resigned as independent non-executive director with immediate effect. Robert Naylor (the chairman) thanked her for the help she provided to him and and his fellow new board directors over the last few months, and wished her all the best for success […]
