Hansteen is raising £40m at 110p per share to help fund the acquisition of a further £103.7m of units (35.7% of the fund) in the Ashtenne Industrial Fund. They say the deal represents an acquisition of £156.8m of UK industrial property valued at a yield of 8.3 per cent. The price is an effective c.5% discount […]
F&C Commercial Property Trust says it returned 8.2% on net assets over the first half of 2015. The return to shareholders was 5.7%. Shareholders got six, monthly dividends of 0.5p – keeping them on rack for their 6p target dividend for the year. The return on the property portfolio was 7.4%, ahead of the total […]
Dexion Absolute has decided to shut its US dollar and Euro share classes on the grounds that they have become too small – shareholders will get the chance to switch into the sterling class. In its interim report (covering the first half of 2015), Dexion said the NAV returns on its Sterling, Euro and Dollar classes […]
Minerals royalty company, Anglo Pacific Group, reported a loss after tax of £8.8 million (5.8p/share) for the six months to end June 2015, an improvement from the £23.0 million loss (20.8p/share) reported in the corresponding period of 2014. Results were impacted by writedowns on the valuation of its Kestrel coal royalty (£9.1 million on lower […]
Fair Oaks Income Fund says the Fair Oaks Income Fund LP (the “Master Fund”) has entered into binding contracts to acquire, in the primary market, $28.0 million notional of equity notes, representing 73% of the total equity, and $8.6m notional of Class F notes of Shackleton 2015-VIII CLO, a new CLO backed by a portfolio […]
BHP Billiton has posted profits for the year ended 30 June 2015 down 86% from the previous financial year to US$1.9 billion or US$0.36/share. Excluding exceptional items, attributable profit was US$7.1 billion, a reduction of 47%. Group revenue fell from US$56.8 billion to US$44.6 billion (from continuing operations) with iron ore the hardest hit sector, […]
South 32, the resources company spun out of BHP Billiton earlier this year, has reported its first annual results (on a pro-forma basis). In the financial year to end-June 2015, the company reported headline profit of US$28 million, down 56% from the previous year, leading to EPS of USc0.5, against USc1.2 previously. The results include […]
Bluefield Solar Fund is buying three solar assets: Bluefield EIS Solar Limited (“Solar EIS”), Bluefield Kite Limited (“Kite”) and Bluefield Peregrine Limited (“Peregrine”), which between them own and operate 28 solar photovoltaic (“PV”) plants (the “Plants”). The Plants, each built and commissioned prior to the end of Q1 2012, have over three years of operational […]
GCP Infrastructure has completed a transaction subscribing for a loan note to be used to fund biomass plants, with a term of 17 years and a value of up to £62.9m, £36.6m of which was advanced at completion and the remainder is expected to be drawn down over the next few months subject to various conditions. The Loan […]
NewRiver Retail is buying 158 pubs from Punch Taverns for £53.5m which equates to a net initial yield of 13.61%. The projected annual profit before tax of the portfolio is circa £6m, which will generate a cash on cash equity return in excess of 20%. The acquisition of the portfolio includes circa £0.5m of fixtures, […]
