International Public Partnerships has bought 72% of the second phase of Nottingham’s Building Schools for the Future portfolio. They already held 10% of this so this takes their stake to 82%. INPP is buying this form Carillion Private Finance for £2.75m. The project comprises the Farnborough School and Technology College and caters for over 1000 […]
Jupiter Second Split has announced its interim results. Over the six months to the end of April 2014, the value of its portfolio was barely changed – off by 0.1%. As the zero dividend preference share NAV grew, so the net asset value of the geared ordinary shares fell – by 8.3% during this six month […]
Target Healthcare REIT is acquiring a new, purpose-built, £6m care home in Hinckley, Leicestershire. The 72 bedroom home will be leased to Care Concern Group for 35 years on a lease that brings Target Healthcare REIT an initial 7% yield and increases in rent each year in line with RPI (subject to a cap and collar). […]
F&C Private Equity will replace its zero dividend preference share issue with a new debt facility. The ZDPs mature in December this year and the Board of F&C Private Equity has concluded that the most cost effective and flexible way of funding this and maintaining some modest level of gearing within the fund is to […]
Origo Partners has announced that Brooks MacDonald, through its lawyers in the Isle of Man (where Origo is incorporated), has raised a further complaint. Brooks MacDonald asserts that the resolution passed on 8 March 2011 to amend the Company’s Articles to reflect the creation of the Convertible Preference Shares was not validly passed. This assertion rests […]
Polar Capital Technology has published results for the year ended 30 April 2014 that show its net assets growing by 11.2% and its share price by 10.9% but both lagging the increase in the Dow jones World Technology Index of 13.1%. Very strong gains and outperformance of the index were given up in the last six […]
Aberdeen New Dawn has published figures for the year that ended 30 April 2014. Over the year the trust’s net asset value return was -8.9%, a bit worse than the benchmark (MSCI All Countries Asia Pacific ex Japan index) total return of -6.8%. Unfortunately the discount widened and the return to shareholders was -14.0%. The […]
Custodian REIT has added further to its property portfolio with the acquisition of two modern industrial units on the 100 acre Estuary Commerce Park, Speke, Liverpool (next to Liverpool John Lennon International Airport) for £3.1m, equivalent to a net initial yield of 7.7%. Unit C is let to Powder Systems Limited on a 20 year […]
Secure Property Development & Investment has published its results for 2013. The fully diluted net asset value at the end of December 2013 was $1.62 – down from $2.67 at the end of 2012 – the main cause of this was a substantial dilutive equity issue. Occupancy at their Terminal Bovary property was 100%at the year […]
Tau Capital has published its results for the year to the end of December 2013. These are somewhat academic now but, for what it’s worth, its NAV declined from $0.53 to $0.30. Since the year end its investment in Stopharm has been written down further.
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