I have long thought that one of the great strengths of the investment companies sector is the boards of independent directors working on investors’ behalf to keep managers and other service providers in check, keep a lid on overheads and ensuring that shareholders are treated fairly. While not every investment company is a shining example […]
Tritax EuroBox has acquired a logistics asset in the Rhine-Ruhr region of Germany for €32m, as it sets about deploying the proceeds of its recent equity raise. The asset, located in Gelsenkirchen, has a total gross internal area of 16,632 sqm and comprises three purpose-built logistics facilities located in the heart of the prime logistics […]
Third Point Investors (TPOU) has published a response to a letter that it received from Asset Value Investors (AVI) on 30 September 2021, in which AVI was pushing for an EGM in which it wanted to put forward proposals in relation to discount control. To summarise, AVI’s request for an EGM has been declined. Rather […]
Ecofin US Renewables Infrastructure (RNEW) has announced that it has contractual commitment to acquire Whirlwind, a 60 MW operating wind asset, for US$49m. The purchase price will be funded by a combination of the remaining net proceeds from the IPO and from the newly established Revolving Credit Facility. The acquisition of Whirlwind is expected to […]
Nippon Active Value Fund (NAVF) is proposing to raise further capital “to pursue its proven model of activist investment in quoted Japanese companies” and has published proposals for a share issuance programme for up to 300 million Ordinary Shares or C Shares over the next 12 months. This programme will include an initial issue which […]
In QuotedData’s morning briefing 22 October 2021: Third Point Investors (TPOU) has published a circular in relation to an EGM at which shareholder approval will be sought for the exchange facility that shareholders are to be offered in 2022, details of which were previously announced on 1 September 2021 (click here to read out story […]
Life Sciences REIT has published its prospectus You can access this here Application forms are towards the back of the document. Access to the IPO is restricted by geography. In particular, you should not be accessing this from the USA. Please ensure that you read the prospectus including the risk warnings before making an investment.
Harmony Energy Income Trust has published its prospectus You can access this here Application forms are towards the back of the document. Access to the IPO is restricted by geography. In particular, you should not be accessing this from the USA. Please ensure that you read the prospectus including the risk warnings before making an […]
Asia Dragon plans conditional tender offers – Asia Dragon Trust says that, provided its shareholders vote to continue the company at the upcoming AGM in December 2021, it intends to introduce five-yearly performance-related conditional tender offers in addition to its regular continuation votes. If, on an NAV total return basis, the company beats its benchmark […]
Impact Healthcare REIT has sold a care home for £1.68m and bought a purpose-built, high-quality care home in the South-west of England for £5.75m. Heeley Bank is a 67-bed care home in Sheffield, acquired as part of a portfolio of four homes leased to MMCG in March 2020. The home was not a long-term strategic […]
Scottish Oriental Smaller Companies reports an NAV return of 28.4% for the year ended 31 August 2021, well-behind the 37.8% return on the MSCI All Countries Asia ex Japan Small Cap Index. The return to shareholders was 28.9%. The dividend is maintained at 11.5p, some of this is being paid out of revenue reserves. [I […]
In QuotedData’s morning briefing 21 October 2021: Custodian REIT (CREI) has bought a 28,601 sq ft industrial unit on Clifton Moor Industrial Estate, York, adjacent to York’s northern bypass which connects to both the A1(M) and M62. The unit is occupied by Menzies Distribution Limited with a weighted average unexpired term to first break or […]
Urban Logistics REIT has acquired two assets for £15.1m at a 6.0% net initial yield (NIY). The assets include one income producing asset providing immediate additional revenue, and a forward funding development project. Around £50m of further investments are in advanced stages of contractual progress and are expected to be completed in the near term […]
Metage Capital opens new front against Third Point Investors – following on from Asset Value Investors’ attempts, on behalf of clients such as AVI Global, to get Third Point Investors to tackle its discount, Metage Capital has today written to the board of Third Point Investors. We reproduce the letter in full. Dear Fellow Shareholders, […]
Target Healthcare REIT, the care homes investor, delivered a net asset value (NAV) total return for the year ended 30 June 2021 of 8.8%. EPRA net tangible assets (NTA) was up 2.1% to 110.4p per share, while the group paid out dividends of 6.72p. The dividend (which was up 0.6% on 2020) was not fully […]
Gore Street publishes upbeat trading update – Gore Street Energy Storage Fund says that in September, the storage assets it has in Great Britain that participated in the actively-traded GB power markets generated revenues nearly two times their September forecasts. This is due to increasing GB power prices and price volatility and the ability of the […]
Gresham House Strategic board hits back at Gresham House – this is one of those situations where it is easiest just to replicate the statement in full. “The independent directors of Gresham House Strategic plc (“GHS” or the “Company”) (“Independent Board”) note the announcement by Gresham House plc (“GHE”) published on 19 October 2021, and […]
BBGI buys stake in Canadian hospital – BBGI Global Infrastructure SA has entered into an agreement to acquire a 25% interest in Center Hospitalier de l’Université de Montréal (CHUM), in Montreal, Québec, Canada. The public-private partnership project originally consisted of the design, construction, finance, operation, and maintenance of a fully functional new hospital facility including new […]
Scottish Investment Trust to be taken over by JPMorgan Global Growth and Income – After an extensive review, the board of Scottish Investment Trust has decided that its best option is to combine the trust with JPMorgan Global Growth and Income. The board says that a large number of proposals was received and evaluated with […]
JPMorgan European shake up planned – The board of JPMorgan European Investment Trust has concluded its review of the company and its strategy. This included considering various options to improve marketability and to broaden the appeal of the company as well as to improve liquidity and to narrow the discount. The board believes there remains a […]
EP Global Opportunities responds to shareholder unrest – At its AGM in April 2021, two resolutions were passed with a majority of less than 80% of the votes cast. The first of these was to re-elect the chairman, Teddy Tulloch, as a director, and the second to renew the authority of the company to sell ordinary […]
In QuotedData’s morning briefing 20 October 2021, it is very busy for a Wednesday: Drum Income REIT (DRIP)’s shareholders have overwhelmingly approved the absorption of the trust into Custodian REIT. Court approval for the scheme is expected on 1 November; Drum’s shares will be suspended on 3 November and delisted on 4 November; and the […]
Huge take-up for Fidelity Emerging tender spells trouble – As we have discussed previously, Fidelity Emerging Markets offered investors a 25% tender offer in conjunction with the move of the manager from Genesis to Fidelity. The size of the vote against this decision was one indication that shareholders were uneasy. However, now we have decisive […]
Much better numbers from JPMorgan Multi Asset – JPMorgan Multi-Asset Growth and Income Trust (MATE) has published half-year results covering the six months ended 31 August 2021. The trust’s NAV returns were triple those of its benchmark – a return of 9.2% against its 3.0% target – and shareholders benefited from a return of 21.5% […]
Alinda Capital Infrastructure Investments intention to float – pretty soon after the announcement of the intended launch of an infrastructure trust by Pantheon, along comes another. The company is seeking to raise £350m from a placing and offer for subscription of shares at 100p. In addition, a placing programme will enable the company to issue […]
A new real estate investment trust (REIT) focused on the life science laboratories is looking to raise £300m in an initial public offering (IPO). Life Science REIT has announced its intention to launch on the Alternative Investment Market (AIM) of the London Stock Exchange through a placing, offer for subscription and intermediaries offer targeting the […]
Gresham House just wants everyone to be treated equally – In a statement released this morning, Gresham House sets out its case for requisitioning a meeting at Gresham House Strategic and says that support for its move has risen since last Thursday. “Best practice corporate governance sits at the heart of Gresham House’s strategy as an […]
In QuotedData’s morning briefing 19 October 2021: Augmentum Fintech (AUGM) is making a £10m investment into Zopa as part of that company’s latest funding round of £220m. The funding round is being led by SoftBank Vision Fund 2 with participation from Chimera Abu Dhabi, and is conditional on regulatory approval. Augmentum is investing alongside other […]
Following the success of our ESG Webinar Series in November/December 2020, we will be hosting this year’s ESG Webinar Series on 16th, 17th and 18th November 2021. Each morning will focus on a different aspect of ESG with managers having the opportunity to present on their companies and how the specific aspects of ESG are embedded in […]
Home REIT has deployed £166.4m of the proceeds raised in its £350m equity issue less than a month ago. The company has acquired 23 portfolios comprising 366 properties located across England and Wales and added a further 1,850 beds to the portfolio, bringing the total to 1,077 properties and just under 5,700 beds. The acquisitions […]
