Scottish Mortgage’s share price is almost 60% below its November 2021 peak. It published results for the 12 months ended 31 March 2023 this week and they were not pretty. Over the period, the NAV return was -17.8%, but – as the discount widened – the return to shareholders was -33.5%. Discount at 30-year record […]
Tritax Eurobox has published results for the six months ended 31 March 2023 and, while the NAV has fallen, the overall picture looks quite good. Highlights were: Falling net assets Portfolio value of €1,596.7m (30 September 2022: €1,765.6m), with like-for-like reduction of 14.7%, primarily due to significant outward yield shift across the sector, partly offset […]
AVI Japan Opportunities has submitted shareholder proposals to both SK Kaken and NC Holdings. Details of AVI’s campaign on SK Kaken can be accessed here and that of NC Holdings can be accessed here. SK Kaken AVI notes that, despite a high-quality business model and having a dominant share of the domestic construction paint market, […]
Gresham House Energy Storage Fund has announced a proposed placing of shares to institutional investors and a separate offer of shares on the REX platform (the “Retail Offer”) available to existing UK-based retail shareholders of the company. Targeted gross proceeds are approximately £80m, of which the maximum size of the Retail Offer will be capped […]
A proposal to wind up abrdn Latin American Income was announced on 15 March. Now we have more detail on the process of doing this. The proposals involve the company being placed, with the approval of shareholders, into summary winding-up. If the resolution is passed at the EGM and the joint liquidators are appointed, they […]
Heads of terms have been agreed for a proposed combination of the assets of abrdn Japan Investment Trust with those of Nippon Active Value Fund. The abrdn Japan board says that the proposal follows an extensive review of various investment strategies in the Japan fund sector. It believes the case for taking advantage of recent corporate […]
In QuotedData’s morning briefing 18 May 2023: JLEN Environmental Assets (JLEN) NAV at end March 2023 slipped very marginally (0.4p) from the level at end December. Falling near-term power prices, which have affected other renewable energy funds, are less impactful on JLEN, which has a high degree of protection from short term price hedges as […]
Bluefield Solar’s NAV as at 31 March 2023 was £850.2m or 139.1p per share, 3.3p down on the end December NAV of 142.4p. The NAV total return for the quarter was -2.3%. The main reason for this was the recent falls in power prices (linked to falling natural gas prices). The NAV includes the published […]
BioPharma Credit and BioPharma Credit Investments V (Master) LP has entered into a definitive senior secured loan agreement with Reata Pharmaceuticals, Inc. The company will invest up to $137.5m and BioPharma-V will invest up to an additional $137.5m in parallel. Based in the US, Reata is a publicly traded (NASDAQ) biopharmaceutical company with a current […]
In QuotedData’s morning briefing 11 May 2023: Krishna Shanmuganathan is to replace Norman Crighton as chair of Weiss Korea Opportunity (WKOF) when Norman steps down from the board at the AGM on 20 July 2023. Separately, holders of just 41,496 shares elected to take advantge of the company’s latest realisation opportunity. Ecofin Advisors, LLC has […]
