Electra Private Equity has announced it is selling its 23% interest in Zensar Technologies Limited, the listed Indian IT services business, to a company backed by funds advised by Apax Partners, the private equity firm. On completion of the transaction, Electra will receive proceeds of approximately £84m (based on current exchange rates). Inclusive of dividends and proceeds […]
Global Resources has announced that a fall in its net asset value means that its total assets equate to 3.8x the value of its convertible. One of the covenants that GRIT was obliged to abide by when the convertibles were issued is that the asset cover should not drop below 4x. Otherwise the convertible holders […]
Electra has published the text of a letter it is sending to its shareholders in response to Sherborne’s latest requisition. Rather than cut and paste it, we have attached a pdf of the response here: 151008 Electra Private Equity PLC – RNS ELTA : Electra responds to Sherborne requisition
The Baillie Gifford Japan Trust outperformed its benchmark index, TOPIX, over the year to 31 August 2015 by 7 percentage points. Net asset value per share, after deducting borrowings at fair value, rose 20.4%, while the benchmark index gained 13.4%. In this period the Company’s share price increased by 26.3%. The statement say the positive absolute and […]
Henderson EuroTrust has announced results for the year ended 31 July 2015. The net asset value per share total return (including dividends reinvested and excluding transaction costs) was 13.9% compared to a total return from the benchmark index, the FTSE World Europe (ex UK) Index of 9.6%. The final dividend will be 13.0p, (2014: 12.5p) producing a […]
Electra Private Equity has announced that portfolio company, AXIO Data Group, has agreed to sell MIMS, its Asian healthcare information business, to SMS and Mitsui for $250m. The transaction, which is expected to complete later today, will result in an increase in Electra’s diluted NAV per share of 122p compared to the 31 March 2015 […]
Sanditon Investment Trust has published its first annual report for the period 14 May 2014 to 30 June 2015. The trust aims to return 2% above the UK retail price index and provide low correlation with equity markets. The trust finished the year with its NAV at 103.02p, just below its objective, but the board […]
Custodian REIT has announced the acquisition of Lancaster House (pictured), an office building in Birmingham City Centre for £6.65m. The 39,600 square foot, recently refurbished, building is currently let to 15 tenants with a total passing rent of £505,752 per annum, reflecting a net initial yield of 7.19%. The company has said that there is […]
The Board of Kuala Innovations Limited has announced that it has subscribed for a 3.5 per cent. interest in Delaware incorporated private company Intensity Therapeutics, Inc. The Company has subscribed for 250,000 Preferred Series A Shares of Intensity Therapeutics (“Subscription Shares”) at a price of US$2.00 per Subscription Share, for total cash consideration of US$500,000. […]
Schroder UK Mid Cap Fund has announced that Rosemary Banyard has decided to leave Schroders, and will be stepping down as the Company’s lead portfolio manager with effect from 31 March 2016. Rosemary will continue to manage the portfolio until that time, following which Andy Brough, who has co-managed the portfolio with Rosemary since Schroders […]
