CLS Holdings, the FTSE 250 office landlord with a £2.3bn portfolio in the UK, Germany and France, has proposed a tender offer of its shares due to its persistent and unjustified share price discount to net tangible assets. Subject to the discount persisting, CLS said that it intends to undertake a tender offer of its […]
LXI REIT and Secure Income REIT have agreed terms on a merger that would see LXI acquire the entire share capital of Secure Income. Under the terms of the merger, each Secure Income shareholder will receive 3.32 new LXI shares per one Secure Income share. The deal would see the combined company have net assets […]
Bluefield Solar Income buys UK-based solar and wind portfolio and announces proposed issue – Bluefield Solar Income (BSIF) has made a significant acquisition of a 93.2MWp UK-based solar and wind portfolio, expanded its revolving credit facility (RCF) and launched a placing and offer for subscription. BSIF will raise new equity through the placing of new […]
In QuotedData’s morning briefing 11 May 2022: BlackRock Greater Europe (BRGE) has posted its interim results for the six months to 28 February 2022. During this time, the trust’s NAV was down 20% while its share price was down 21.8%. This compares with a 7.8% fall from its benchmark. Exposure to Russian holdings at 28 […]
Pacific Assets Trust has published results for the 12 months ended 31 January 2022 and the figures are much improved on previous years when it suffered from relatively low exposure to China, although unfortunately still behind its performance objective. The net asset value per share total return of 9.1% compares with the return of the […]
3i Infrastructure achieved a return of 17.2% in the year ended 31 March 2022, with the NAV increasing to 303p and shareholders receiving a return of 20.9%. A 10.45p dividend for the year was 6.6% higher than the previous year and a new target of 11.15p has been set for the current financial year. Portfolio […]
Ecofin US Renewables Infrastructure Trust plans to raise new capital by way of a placing of new ordinary shares at a price of $1.015 per share. The company has fully deployed its IPO proceeds and has drawn down $9.1m under its revolving credit facility. In addition to the placing, there will be an offer of […]
In QuotedData’s morning briefing 10 May 2022: Sadly, we have to report the death on 4 May 2022 of Robin Angus. “It is with great sadness that the board of Personal Assets Trust announces that Robin Angus, who was the company’s executive director until his retirement in September 2020, passed away on 4 May 2022. […]
BB Biotech (SWX:BION) has continued to show a resilient performance this year, a period that has proved to be extremely challenging for biotech investing – indeed the sector is now considered to be experiencing its most severe bear market for more than two decades. BB Biotech’s shares closed on Friday at CHF 56.00, down 23% […]
Shaftesbury and Capital & Counties Properties have confirmed that they are in advanced discussions regarding a possible £3.6bn all-share merger of the two companies. The merger would create a REIT focused on the West End of London with a portfolio of 2.9 million sq ft of lettable space across Covent Garden, Carnaby, Chinatown and Soho. […]
JLEN Environmental Assets says that it expects to announce its unaudited Net Asset Value as at 31 March 2022 in mid-May 2022. While this has not yet been finalised, the initial indication is that there will be a material increase in the NAV relative to 31 December 2021. An uplift in the range of 13% […]
Life Science REIT has acquired a London office building for £85m as it continues to build its portfolio following launch last year. The group has bought 7-11 Herbrand Street, which is located close to University College Hospital and University College London in London’s Knowledge Quarter of Bloomsbury, King’s Cross and St Pancras, at a net […]
Downing Strategic Micro-Cap on journey to grow as it publishes good results – Downing Strategic Micro-Cap (DSM) has posted its final results for the year ended 28 February 2022. During the period under review, the trust saw a 5.3% increase in its NAV and 1% increase in its share price . It maintained its NAV […]
HydrogenOne Capital Growth buys minority stake in fuel cell and electrolyser Elcogen – HydrogenOne Capital Growth (HGEN) has signed definitive agreements for an investment of £20m (EUR 24m) in Elcogen, whose shareholders include Biofuel OÜ, and VNTM Powerfund II, a technology fund focused on clean power. With this purchase of a minority equity stake, HGEN […]
In QuotedData’s morning briefing 9 May 2022: CIP Merchant Capital (CIP) has applied for the cancellation of admission to trading on AIM of its ordinary shares.This follows the announcements on 1 and 20 April 2022 by Corporation Financière Européenne declaring its final offer for CIP to be wholly unconditional and confirming that there would be […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Andrew McHattie covered the week’s top stories: Weiss Korea Witan Apax Global Alpha Greencoat UK Wind EP Global Opportunities abrdn China This week’s interview was with Gary Moglione of […]
Amazon’s gloomy earnings call last week has taken the wind out of the sails of some of the biggest listed property companies focused on logistics. The profit warning and caution on online sales growth saw 12.7% and 12.6% wiped off SEGRO’s and Tritax Big Box REIT’s market cap in a week (Thursday 28 April to […]
Oakley Capital Investments Limited (OCI) has announced that the Oakley Capital Origin Fund is investing in Vice Sporting Goods GmbH (Vice Golf), which OCI describes as the leading digitally native golf brand. OCI’s indirect contribution via the Origin Fund will be around £11m and its liquid resources available for future deployment (including this transaction) are […]
In QuotedData’s morning briefing 6 May 2022: Round Hill Music Royalty Fund (RHM) has announced the conversion ratio that is to be used to convert its C Shares into new ordinary shares, which is based on the respective unaudited estimated economic net asset values of the ordinary share pool and the C share pool calculated […]
Derwent London has exchanged contracts to acquire the freehold of City Road Island EC1, the site of the Moorfields Eye Hospital and the UCL Institute of Ophthalmology, for £239m. The site is being sold by Moorfields Eye Hospital NHS Foundation Trust and UCL, together the Oriel joint initiative, and is subject to receipt of final […]
Home REIT has acquired 156 properties for £42.4m as it continues to grow its portfolio of homeless accommodation. Following the latest tranche of investments, since inception in October 2020, the company has deployed a total of £700m at a weighted average net initial yield of 5.86%. The Properties are located across England, providing an additional […]
Downing Renewables & Infrastructure Trust is buying (through its subsidiary Downing Hydro AB), a 100% interest in a portfolio of operational run-of-river hydropower plants in Sweden. The purchase price is about €20m and the vendors are Batten AB and Daturum AB. Initially, the deal will be funded by drawing down on the fund’s £25m revolving […]
In QuotedData’s morning briefing 5 May 2022: HydrogenOne Capital Growth (HGEN) says that Roger Bell is stepping down with immediate effect from its board. He will not be seeking election at the company’s first AGM on 24 May 2022. Roger was the representative of INEOS UK E&P Holdings Limited (INEOS Energy) on the board. Changes […]
Rockwood Realisation (RKW) has changed its name to Rockwood Strategic following a turnaround in its plans and the decision to remain an investment trust, as we have previously reported. The group has also launched the Rockwood Strategic Investment Advisory Group (IAG) whose members offer the benefits of cumulatively over 150 years of relevant investment experience. […]
Weiss Korea Opportunity Fund has published results for 2021 that show the trust’s NAV falling far less than its benchmark – the trust’s NAV total return was -1.4%, which compares to -6.1% for the MSCI Korea 25/50 Net Total Return Index. In addition, the shares moved from trading at a discount of 2.8% to a […]
Aurora beat its benchmark over 2021 but its share price lagged a little. An NAV total return of 19.1% was ahead of the 18.3% return on the UK market but the share price return was 13.5% as the discount widened. The trust benefited from the IPO of Castlenau in September 2021. The board proposes to […]
BlackRock Smaller Companies (BRSC) lagged its benchmark over the12 months ended 28 February 2022, returning 16.7% to the Numis Smaller Companies plus AIM excluding investment companies Index’s 24.9%. 35p of dividends were 5.1% higher than the previous year as revenue recovered from the effects of the pandemic – the revenue return for the year was […]
In QuotedData’s morning briefing 3 May 2022: BlackRock Energy and Resources Income (BERI) is asking shareholders for permission to issue more shares after an upsurge of interest in the trust meant that it has already issued all the shares that it was given permission to at the last AGM. Blackstone Loan Financing (BGLF) generated a […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • NB Private Equity • Vietnam Enterprise This week’s interview was with Robert Guest of Foresight Sustainable Forestry – watch it again here.
A couple of years ago, as the initial panic of the pandemic eased, commentators started to talk about the probable shape of the post-COVID economic recovery. When we found out that the vaccines worked in November 2020, markets soared on hopes that things would start to return to normal. Expectation grew of a synchronised global […]
