Biotech Growth manager denies allegations – The board of The Biotech Growth Trust says that it notes that the General Partners of OrbiMed Capital LLC, which acts as portfolio manager to the company, released a statement late on 5 December concerning founding partner Samuel Isaly, who is the subject of a press article containing allegations of […]
Hammerson in agreed bid for intu – The boards of Hammerson and Intu Properties have announced that they have reached agreement on the terms of a recommended all-share offer by Hammerson to acquire the entire issued and to be issued share capital of Intu. Intu shareholders will get 0.475 Hammerson shares for every Intu share that they […]
Majedie underperforms as absolute return investment loses money – Majedie says that, in the year ended 30 September 2017 the NAV (net asset value with debt at par) rose by 10.4% on a total return basis whilst the share price rose by 13.0%, also on a total return basis. The Board is recommending a total […]
BioPharma secures second deal for up to $200m – BioPharma Credit PLC has announced that it and BioPharma Credit Investments IV, S.àr.L., entered into a definitive term loan agreement for up to US$200 million with Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX), a fully integrated biopharmaceutical company with a current market capitalisation of approximately US$1.0bn. Lexicon markets XERMELO® (teloristat […]
Ground Rents Income ignoring discount problem? – In its results announcement this morning, the chairman of Ground Rents Income managed to make no mention of either the fund’s share price return for the year or its discount. For the record, the fund is trading at a discount of 10.4% to the net asset value at […]
Standard Life Private Equity benefits from narrowing discount – over the year to the end of September 2017, Standard Life Private Equity Trust’s net asset value produced a total return of 14.9% and its share price delivered a total return of 31.9%. The MSCI Europe Index returned 19.1% over the same period. As at the […]
Triplepoint portfolio continues to expand – Triple Point Social Housing REIT has completed four further acquisitions of supported housing properties, comprising 52 units in total, for an aggregate purchase price of approximately £10.4 million (excluding costs). The four properties are located in Merseyside (27 units), Lancashire (21 units) and Brighton (4 units). The Merseyside property […]
European Investment Trust rebounds with 30% return – European Investment Trust says that, for the year ended 30 September 2017, its net asset value total return was 29.9%, compared with 22.6% for the All-World Europe ex UK Index. This outperformance was welcome after a period of underperformance last year. The discount narrowed from 13.4% to 12.3% leading to a share price […]
P2P Global targets 15p quarterly dividend next year – P2P Global has presented the results of its strategic review. The merger of the managers completed on 15 September, creating an asset manager (Pollen Street Capital) with gross assets of over £2bn. They have reviewed existing loan origination arrangements and have started repositioning the portfolio towards, […]
LondonMetric spends £48m on two logistics warehouses – LondonMetric Property Plc has announced the acquisition of two logistics warehouses for GBP47.6 million, reflecting a blended net initial yield of 5.0% rising to a minimum of 5.6% after five years. The average lease length is over 18 years. At Ollerton in Nottinghamshire, LondonMetric has agreed to acquire a […]
