In the financial year to 30 September 2016, Henderson European Focus Trust produced total return NAV per ordinary share of 20.4%. This compares to a total return of 21.1% for the Europe ex UK Index in sterling terms. The share price total return was 8.6%. The shares continued to trade in a tight range relative […]
Fidelity Asian Values has announced that, as detailed in its Prospectus dated 26 October 2016, it has made a one for 5 bonus issue of subscription shares and has allotted 13,497,222 subscription shares. The Subscription Price is equal to the published unaudited NAV per Ordinary Share as at 5.00 p.m. on 2 December 2016, plus […]
Hummingbird Resources (HUM:AIM) The Project capex for Yanfolila of US$88 million, is now fully funded. After a rigorous due diligence process, Taurus Funds Management Pty Limited has agreed to provide a US$45 million Senior Secured Term Facility and a US$10 million Cost Overrun Facility for the Yanfolila Gold project in Mali. The existing Bridge Loan […]
Better Capital’s 2012 Cell has exchanged contracts on the disposal of its interests in iNTERTAIN Limited to Stonegate Pub Company Limited at an enterprise value of GBP39.5m. Formal completion is unconditional and is anticipated to happen later this week. The deal results in a small write down of Better Capital 2012’s NAV. iNTERTAIN owns and […]
In the year ended 30 September 2016 Majedie‘s NAV rose by 16.0% on a total return basis whilst the share price rose by 3.0%. The Board is recommending a total dividend for the year of 8.75p per share, an increase of 9.4%. The UK market and MSCI World Index (in Sterling terms) rose by 16.8% and […]
Pan African Resources (PAF:AIM) The company is planning to move forward with production for its Elikhulu Tailings project, as Definitive Feasibility results surpass expectations of previous technical and financial assessments. Construction will commence on finalisation of a project financing package. Rand Merchant Bank has provided a five-year R1bn debt facility for the funding of the […]
Standard Life European Private Equity delivered a total return for the year ended 30 September 2016 of 24.8%. By contrast, the MSCI Europe Index delivered a total return of 20.2% over the same period. The closing mid-market price of the Company’s ordinary shares on 30 September 2016 was 267.3p, an increase of 24.9% over the year […]
Lowland Investment Company has agreed to issue GBP30m in senior unsecured fixed rate private placement notes at an annualised coupon of 3.15% with a 20 year bullet maturity. The funding date for the Notes will be 5 January 2017 and the Notes will be due for repayment on 5 January 2037. The semi-annual interest payment dates […]
Pacific Alliance China Land Limited has realised its entire interest in Project Auspice. The investee (Dalian Wanda Commercial Properties Co., Ltd., or “Wanda”), is one of China’s largest property developers focusing on integrated mixed-use development and operation management of commercial properties throughout the PRC. In 2009, PACL invested RMB 153 million (approximately equal to USD […]
Ground Rents Income Fund has announced results for the year ended 30 September 2016. Over the period the fund’s NAV increased by 14.3% to 129.31p. the dividend for the year was 3.959p. They say that RPI reviewable ground rents are particularly in demand. For those that review every 25 years with rents doubling, yields have dropped […]
