Hipgnosis Songs looking for £72m – On 14 August 2019, Hipgnosis announced that it had fully committed its spare cash to investment opportunities and was thinking about issuing more shares to finance its pipeline of investment opportunities. Today, it says it will make a placing of new ordinary shares at a price of 105.5p. This is a premium […]
Supermarket Income REIT adds Preston Sainsbury’s – Supermarket Income REIT has announced the acquisition of the Sainsbury’s supermarket in Preston, Lancashire from Legal & General for GBP54.4 million (excluding acquisition costs), reflecting a net initial yield of 5.1%. Originally developed in 1992, and extensively refurbished in 2010, Sainsbury’s has a long history of trading from this […]
Aberdeen Emerging breaks liquidity listing rule – At 12:32 today Aberdeen Emerging Markets Investment company made the following announcement: “Announcement regarding shares in public hands The Board of AEMC announces that the number of ordinary shares which are deemed by the Listing Rules to be held in public hands is below the minimum 25% threshold. […]
Target Healthcare adds to portfolio – Care home investor Target Healthcare has acquired two new properties for £18.6m. It has bought assets in Ripon, Yorkshire and Stourport, West Midlands, with both meeting the group’s strict investment criteria of being modern, well equipped care homes with 100% en-suite wetrooms, underpinned by supportive fundamentals. The Moors Care Centre, in […]
Woodford watch – Patient Capital writes down NAV – Link Fund Solutions Limited, through its Fair Value Pricing Committee, is responsible for the valuation of the portfolio of Woodford Patient Capital Trust. Link, with the support of an independent valuation firm (IHS Markit), values Patient Capital’s unquoted assets in accordance with the Financial Reporting Standard (FRS) […]
In QuotedData’s other news 23 August 2019: Africa Opportunity shrinks board – Chris Agar, Dr. Vikram Mansharamani, and Mr. Peter Mombaur resign as directors with effect from 22 August 2019 so that the trust can save money. We have a raft of half-year reports: BMO Private Equity made 2.4% in NAV terms and 13.7% in share […]
Irish Residential Property REIT receives 428-unit Dublin approval – Irish Residential Properties REIT has been granted planning permission for its 428 unit residential development at Rockbrook in Sandyford, Dublin 18, through the strategic housing development planning process. The permission provides for a scheme consisting of 428 apartments in two blocks (32 studio apartments, 122 one-bedroom […]
Foresight Solar assets generated 400GWh clean energy over H1 – Foresight Solar (FSFL) has released results covering the six month period to end-June 2019, with financial and operational highlights including: The portfolio generated over 400GWh of clean energy; NAV decreased to £601.5m (31 Dec 2018: £610.3m), being 109.6p per share (31 Dec 2018: 111.2p). This was […]
Sherborne C investors nursing 50% loss – Investors who stumped up a pound a share to fund Sherborne Investors C now find that it is trading at a new low of 50p per share. That’s a meaningful discount to its asset value, prompting the question – why doesn’t an activist look to wind it up? […]
In QuotedData’s other news 21 August 2019 Regional REIT has made a sizeable acquisition – six office assets for £25.9m, comprising offices located in Birmingham, Bristol, Cardiff, Chester, Glasgow and Manchester. The assets total circa 172,442sq. ft. and are expected to provide a net income of approximately £2.36m a year from 27 tenants; equating to a net […]
In QuotedData’s other news 20 August 2019 – Empiric Student Property (ESP) has reported half-year results to 30 June 2019; revenue grew by 14% to £35.7m while EPRA NAV was up 2%. In the manager’s report, ESP said that the UK higher education sector continues to both grow and polarise. There is strong demand for […]
RDI REIT completes £75m London office portfolio refinancing – RDI REIT (RDI), the income focused UK-REIT, has confirmed that, further to the announcement on 5 June 2019, it has completed the second and final stage of its £75m London serviced office portfolio refinancing. The facility, provided by Aberdeen Standard Investments for a seven-year term, has refinanced […]
Primary Health Properties completes £6.4m developments – Primary Health Properties (PHP), the modern primary healthcare facilities investor, has announced that it has reached practical completion on two developments from separate developers at Glynneath and Langwith at a total cost of £6.4m (£4.6m and £1.8m respectively). The properties are let on 20 year leases to the Abertawe Bro […]
Gresham House Energy completes 5MW grid level battery storage investment – Gresham House Energy (GRID) has announced that it has completed its investment in a symmetrical 5MW battery-only project based in Wolverhampton for a total enterprise value of approximately £3.5m. The project is one of the exclusivity portfolio projects identified by the company in its IPO prospectus […]
Hipgnosis Songs acquires catalogue from The Chainsmokers – Hipgnosis Songs (SONG) has announced that it has has acquired a music catalogue from The Chainsmokers, the 14th most streamed artist globally on Spotify with 41m monthly listeners. The Chainsmokers, an artist and producer duo made up of Alex Pall and Andrew Taggart, which SONG describe as having been the […]
In QuotedData’s other news 19 August 2019 – Acorn Income Fund has reported interim results showing its portfolio lagging the Numis Small Cap Index and the All Share. Acorn’s geared structure made up for some of the shortfall (the NAV return was 9.7% against 10.5% and 13.0% for the indices, respectively) and a narrower discount […]
Woodford watch – P2P Honeycomb merger off? – Sky News has a story which you can read here – that merger talks between P2P Global and Honeycomb Investment Trust have collapsed following objections from “several” shareholders in P2P including Aberdeen Standard Investments and Premier Fund Managers. The tie up makes logical sense in that both […]
Valuation developments drive NAV growth for Princess Private Equity over H1 – Princess Private Equity (PEY) has released high-level highlights from its first-half period to 30 June 2019. Key items include: PEY reported a NAV total return of 9.6%, closing the period at EUR11.64 per share; Valuation developments (+11.6% YTD) were the key driver of NAV […]
In QuotedData’s other news 16 August 2019: Worldwide Healthcare Trust (WWH) has announced the appointment of Dr Bandhana (Bina) Rawal as an independent non-executive director, with effect from 1 November 2019. Dr Rawal, a physician with 25 years’ experience in life sciences research and development, has held senior executive roles in drug development and scientific evaluation in […]
CATCo Reinsurance Opportunities updates on future in half-year results – Last month we published a story discussing CATCo Reinsurance Opportunities’ (CAT) proposals to return cash to its shareholders, following extreme hurricane claims (click here to read more on this). CAT’s shares are down by over 70% over the past year. 2017 and 2018 were the […]
Merian Chrysalis invests in delivery software as a service company Sorted – Merian Chrysalis (MERI), the UK-focused unquoteds investor, has gotten off to a strong start since launching in 2018 – the premium its shares trade at has increased from about 4.5% at the start of the year to over 20%. MERI has this morning […]
Murray International boosted by Fed pivot and sterling weakness – The £1.5bn market cap, global growth trust, Murray International (MYI), has reported half-year results to 30 June 2019. These are summarised below: Six months ended – 30 June 2019 Year ended – 31 December 2018 Share price +4.3% -6.8% NAV per share +10.6% -7.5% Benchmark […]
Energy-focused Riverstone Credit Opportunities Income reports early results – Riverstone Credit Opportunities Income (RCOI) is one of the newest companies in the listed investment sector (click here to read more about the company); the company has this morning reported half-year results to end-June 2019, though the actual period covered is from 28 May 2019 onwards Of the $100m […]
Oakley Capital to buy German consumer tech company – The UK and Europe focused private equity investment company, Oakley Capital Investments (OCI), has announced that Oakley Capital is acquiring a majority stake in Seven Miles GmbH (Seven Miles), partnering with its founders, Tom Schröder and Valentin Schütt. OCI will make an indirect contribution of around […]
LMS Capital completes Entuity sale – Contracts were exchanged in late July 2019 for the sale of LMS Capital’s investment in Entuity, with completion due on or before 30 September 2019. The company has confirmed that completion of the sale took place on 13 August 2019. After allowing for estimated transaction costs and payments due […]
It has been a busy morning of half-year results announcements. In QuotedData’s other news 14 August 2019: Apax Global Alpha (APAX) reported interim results to 30 June 2019; total NAV retur was +13.4% (+12.9% in constant currency terms). Last 12 months total NAV return was +14.4% (+12.2% constant currency) reflecting primarily strong performance of the private equity portfolio. Aberdeen Asian Income […]
CLS Holdings posts half-year NAV and profit growth – The company has reported a 5% rise in net asset value for the first half of 2019 as well as a 28.2% jump in profits. CLS, which has a £2.1bn portfolio in the UK, Germany and France, posted a EPRA NAV per share of 325.3p, compared to […]
Riverstone Energy’s discount widens in tough period for the sector – The commodities and natural resources company, Riverstone Energy (RSE), has reported half-year results to 30 June 2019. It has been a difficult year for the sector; we note that the company’s discount widened from around 20% this time last year to 35% over the […]
RM Secured Direct Lending delivering for yield seeking investors – Some of the highlights from the direct lending sector company, RM Secured Direct Lending’s (RMDL), first-half period to 30 June 2019 include: Loan investments totalled £122m with an increased average yield of 8.61%; Diversified portfolio with 35 debt investments (H1 2018: 30 investments) across 13 sectors […]
Green REIT board recommends €1.34bn sale to Henderson Park – Green REIT has reached agreement on the terms of a cash offer by Henderson Park to acquire it. The independent Green REIT board has unanimously recommended the deal, which will see Henderson Park subsidiary HPREF Dublin Office Bidco acquire the company for around €1.34bn. Under the terms […]
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