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 […]
Aberdeen Latin American Income Fund has announced its results for the year ended 31 August 2015. During the year the companies NAV total return was -36.8%, which is behind that of the company’s composite benchmark (a fall of 32.2%). Share price total return was -32.3%. The report cites a difficult year for Latin American markets […]
UK Mortgages Limited, which listed on the LSE on 7 July 2015 raising £250m, has announced that it has signed an agreement for its first transaction. The transaction is with the Coventry Building Society Group. Under the terms of the transaction, UK Mortgages will invest in profit participating notes (PPNs) issued by a dedicated acquisition […]
Hammerson has announced that it is to exercise its option to redeem its 5.25% Bonds, due 2016, early. The issue has a par value of £300m. This announcement follows the announcement on 21 October that Hammerson had completed a 10-year bond issue for £350m. The company says that its 5.25% 2016 Bonds will be redeemed […]
GCP Infrastructure Investments has announced that it has completed a transaction in which it has subscribed for a loan note with an expected term of approximately 35 years and an initial value of up to £25.5m (when fully drawn). The Company advanced approximately £1.4m on the completion of the transaction and the majority of the […]
SQN Asset Finance Income Fund has announced that its C-share offer has completed raising £180m for the company. The issue was oversubscribed and so the company has scaled back applications in accordance with the terms set out in the Prospectus. The company says that the proceeds will be used to invest in a pipeline of […]
Electra proceeds with mandatory conversion – Electra Private Equity announced on 23 October 2015 its intention to exercise the mandatory conversion option in its 5% subordinated convertible bonds due 2017. The exercise of the option will automatically and mandatorily convert all of the outstanding Bonds into new ordinary shares of Electra. Electra has now announce that […]
Edinburgh Dragon Trust has announced its final results for the year ended 31 August 2015. During the year the trust’s NAV fell 12.4%, in total return terms, underperforming its MSCI All Country Asia (ex Japan) benchmark which fell 9.1% (all in sterling terms). During the period, the share price fell by 12.8% to 235.8p, as […]
NextEnergy Solar Fund has announced that it has exchanged agreements to purchase three plants, Ellough Solar 2, Decoy and Hall Farm, with capacity of 18.0MWp and an investment value of £18.1m. The 8.0MWp Ellough Solar 2 will be an extension of the company’s existing Ellough plant (pictured). The plant is expected to be connected ahead […]
Global Resources Investment Trust has announced that a fall in its net asset value, to 34.58p per share, means that its total assets equate to 3.94x the value of its convertible. One of the covenants that GRIT has been obliged to abide by, since the convertibles were issued, is that the asset cover on the convertibles should not […]
