Origo Partners has responded to a press release put out this morning by Brooks Macdonald (one of its largest investors). The two are already in dispute about Origo’s convertible zero dividend preference shares (CZDPs – NB you won’t find these on our zeros sheet as they are a more complex beast than most zero issues). […]
DCG Iris has announced that it is planning to put proposals to shareholders to wind up the company. The Directors say that the fund was too small (£68m). Returns were in line with its original projections – annualised 4.6% at 30 April 2014. However, in our view, the fund was always likely to be vulnerable […]
Nimrod Sea Assets has made its first purchase – buying a share in three vessels for $6.7m. The vessels – the Swiber Elsie-Marie, the Swiber Anne Christine and the Swiber Mary-Ann are 10800 BHP AHTS / Supply vessels and are on a bareboat charter to Swiber, a Singaporean listed off-shore contractor, until 2019/20.
Kimberly Enterprises has appointed Liron Or as Chief Executive Officer. He replaces Gad Raveh who resigned after Engel General Developers (who hold 68% of Kimberly’s shares) called an EGM to dismiss him and M Naveh from the Company’s management Board.
The interim figures published by JPMorgan Russian today cover the six months ended 30 April 2014 – a period when investors shunned Russian investments. The net asset value fell by 28.4% on a total return basis and the share price fell by 27.6% (leaving the fund on a 10% discount). The performance was a little […]
CQS Rig has released its interim figures for the half year to 31 March 2014. The net asset value rose marginally from 35.65p to 35.75p (total return, including income of 2.7%). The share price was unchanged. CQS Rig is facing a liquidation vote in the near future.
The Bankers Investment Trust, managed by Alex Crooke, has published its interim accounts for the six months that ended on 30 April 2014. The net asset value fell over the period by 2.2% while the FTSE All-Share Index rose by 1.0%. The statement attributes this to currency moves (a common complaint in many recent results announcements […]
Harbourvest Senior Loans Europe has received proceeds of loan refinancing totalling £15.7m and has decided to use that money to return 11.24p per share to shareholders. They have also announced more details of the new investment management agreement with Spire Partners – Spire will get an incentive fee on loan realisations between now and 31 December […]
European Convergence Development Property has published its results for the year ended 31 December 2013. Its net asset value fell during that time to €0.2883 (down from €0.3010). One of its investments delisted after the year end and another was written down to zero. The Board has concluded that shareholders have no appetite for the […]
Bluefield Solar Income Fund has announced that it has made its tenth major acquisition, dipping into its RBS credit facility for the first time. It is buying a new plant in Hertfordshire, being constructed by Solarcentury, that will, when complete, generate up to 17.5MW. The acquisition price is £19m. The plant will qualify for government subsidy at the rate of 1.4 […]
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