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 […]
Alliance Trust (headed by Katherine Garrett-Cox pictured) has secured £100m of fixed rate financing through an unsecured private placement note. The notes have a 15 year life (31 July 2014 to 31 July 2029) and pay a coupon of 4.28%. The cash raised is to be used to retire £100m of the ATST’s existing debt (currently £380m – all […]
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 […]
LXB Retail Properties has published its interim results covering the six months ended 31 March 2014. Its EPRA NAV rose by 4.3% to 120.98p over the period and it bought back £40m of its shares. Cash levels fell from £35m to £20m. They got planning permission for the Old Gasworks at Sutton and Brocklebank Retail […]
Target Healthcare REIT is buying two purpose-built care homes – Bromford Lane in Washwood Heath, Birmingham (pictured) and Beechdale Manor in Bilborough, Nottingham, for £14.3m. The homes can cater for 181 residents between them, offering residential, nursing and dementia care as well as specialist high dependency care at Bromford Lane. The price equates to a net […]
