In QuotedData’s other news 18 June 2019 Primary Healthcare Properties is launching a £150m convertible bond issue and using the money to repay its £75m, 5.375% senior unsecured bonds due 2019. The new convertibles will mature in July 2025, issued at par and are expected to carry a coupon of between 2.625% and 3.125% per annum payable […]
Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in ‘s-Heerenberg, The Netherlands, for a net value of EUR24.0 million providing an expected net initial yield of 5.0%. The transaction is expected to close in July 2019. This is a freehold facility providing […]
Incyte details positive outcome of topical rux in vitiligo Trust favourite Incyte (Nasdaq:INCY) saw its stock rise by 5% today after reporting positive results of a Phase II study of ruxolitinib cream in the treatment of vitiligo (a condition characterised by de-pigmentation of skin) at a scientific conference over the weekend. Incyte, which is held by […]
Trust favourite Array acquired by Pfizer US cancer focussed biotech Array BioPharma (NASDAQ: ARRY) has accepted a $48 per share cash takeover offer from Pfizer, a 62% premium of its closing price on Friday and equivalent to an enterprise value of $11.4bn (market cap less net cash). Array, whose stock rose by 56% this morning, […]
Chancery Court awards Leaf $114.5m in Invenergy case – On 3 May 2019, Leaf announced that the Delaware Supreme Court reversed the Court of Chancery’s prior award of $1 in nominal damages to Leaf as a result of Invenergy Renewables LLC’s breach of the parties’ limited liability company agreement. The Supreme Court held that Leaf was […]
Martin Currie Asia Unconstrained and unimpressive – Martin Currie Asia Unconstrained has published results covering the year ended 31 March 2019. Five years ago, the trust took the unusual decision to benchmark itself against Asian GDP growth rather than Asian equity markets. Since the Asia Long-Term Unconstrained mandate was adopted on 1 August 2014, the NAV has […]
Alpha Real Trust announces tender alongside results – Over the year to 31 March 2019, Aplha Real Trust’s NAV rose from 172.9p to 204.3p. The quarterly dividend has been upped to 0.8p from 0.6p. The company sold its Frankfurt data centre site for EUR44.8 million and the Monk Bridge, Leeds Private Rented Sector residential site […]
In QuotedData’s other news 14 June 2019: Utilico Emerging Markets has published its annual report covering the year ended 31 March 2019. In a year where the MSCI Emerging Index delivered a zero return, the trust at least managed some positive performance, generating an NAV return of 3.5%. Shareholders also benefited from a narrowing discount. The […]
Tritax EuroBox buys a logistics facility near Frankfurt – Tritax EuroBox has bought a prime, modern logistics facility near Frankfurt in Germany for a total consideration of EUR50.6 million, reflecting a net initial yield of 4.75%. This is a new, well specified, purpose-built facility has a gross internal area of c.43,000 sqm, an eaves height of […]
Trian Investors 1 invests in Ferguson – Trian Investors 1, which was set up to invest in a single stock and engage with stakeholders to improve the stock’s value, has finally made its move, acquiring a stake in Ferguson. Funds managed by Trian Fund Management, L.P. and Trian Investors Management, LLC, including the fund through […]
Syncona to step up capital deployment after great year – Syncona has announced a whopping 37.9% return on NAV for the year ended 31 March 2019. It has transformed its portfolio so that life sciences investments now account for £1.06bn of the fund’s £1.46bn NAV. Some highlights: foundation of three highly innovative portfolio companies OMASS Therapeutics […]
In QuotedData’s other news 13 June 2019 – Augmentum Fintech made follow on investments totalling £8.5m in three of its portfolio companies – Tide, Monese and Duedil. BBGI has topped up its investment in the A1/A6 road project in the Netherlands. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a […]
John Laing Environmental Assets has released results for the year ended 31 March 2019. Over that period, the NAV rose from 99.6p to 104.7p; the trust met its 6.51p dividend target and announced a 6.66p target for the current financial year. The dividend was covered 1.2x by cash flow generated by the portfolio. The chairman […]
Edinburgh board sticking by Mark Barnett – Edinburgh Investment Trust generated a 2.9% return on NAV over the year ended 31 March 2019, 3.5% behind the return on the All-Share Index. The return to shareholders was 4.6%, aided by a small narrowing of the discount to 7.6%. The dividend for the year is 28p, up 5.3% […]
Monks outperforms again as Douglas McDougall bows out – Monks beat its benchmark over the year to the end of April 2019, returning 12.0% in NAV terms against 11.7% for the World Index. The share price total return for the same period was 12.7%. A single final dividend of 1.85p is being recommended, compared to 1.40p last year. […]
Lindsell Train reiterates premium health warning – Lindsell Train has published results for the year ended 31 March 2019. The company uses “The annual average running yield on the longest-dated UK government fixed rate bond (currently UK Treasury 3.5% 2068) calculated using weekly data, plus a premium of 0.5%, subject to a minimum yield of 4.0%.” […]
Hipgnosis buys catalogue from Sam Hollander – Hipgnosis Songs Fund Limited has acquired a music catalogue from Sam Hollander, an American songwriter and producer whose songs have achieved 10 number 1, 47 top 5 and 74 top 10 chart positions globally. Sam Hollander has co-written multi-platinum certified hit songs for Fitz and the Tantrums, One Direction, […]
Augmentum Fintech off to a good start – Augmentum Fintech has published its first set of accounts covering the period from launch to 31 March 2019. The NAV immediately after launch was 99p, at the end of the period it stood at 109.6p. The shares were trading at a small premium to that level. The […]
In QuotedData’s other news 11 June 2019: Shaftesbury says it has now been served with legal proceedings issued by companies controlled by Mr Samuel Tak Lee. The proceedings concern allegations and claims relating to the December 2017 placing of shares by Shaftesbury. They seek to challenge both the rationale for the placing and the way in which […]
Hipgnosis buys catalogue from Michael Knox – Hipgnosis Songs Fund Limited has acquired a music catalogue from Michael Knox, an American music producer best known for discovering and producing for the American country music singer Jason Aldean. In April, the three times ‘Entertainer of the Year’ winner, Jason Aldean was named by the Academy of […]
Seneca Global results reflect benefit of AJ Bell IPO – Seneca Global Income & Growth has published results covering the year ended 30 April 2019. Over that period, the trust returned 7.6% in NAV terms and 6.0% in share price terms, just behind the benchmark which returned 8.2%. The managers have been reducing the fund’s equity […]
In QuotedData’s other news 10 June 2019: JPMorgan European announced results for the year ended 31 March 2019 on Friday. The returns on the Growth (JETG) and Income (JETI) NAV were -2.3% and +1.4% respectively and, as discounts widened, shareholders saw returns of -7.9% and -4.9% respectively. The MSCI Europe ex UK index returned +2.2%. The dividend […]
Hg Capital looking to raise £80m – HgCapital Trust intends to raise up to approximately GBP80 million by way of a placing of new ordinary shares in order to maximise the opportunities to access the manager’s pipeline of deals. The board has been informed by Hg that it expects that its partners and staff will invest at least […]
Impact Healthcare REIT buys three care homes – Impact Healthcare REIT has recently exchanged contracts on three purchases for a total initial investment of GBP20.2 million, plus transaction costs. Once completed, these acquisitions, plus the acquisition of four homes from Maria Mallaband Countrywide Group announced on 2 May 2019 and rent increases achieved so far in […]
Woodford Patient Capital board statement – the board of Woodford Patient Capital has released a statement this morning. Here it is: The board of Woodford Patient Capital Trust plc (the “Company”) notes the recent developments at Woodford Investment Management Ltd. Following the events relating to LF Woodford Equity Income Fund (“WEIF”), the board also notes […]
Biotech firms brace for wave of Woodford fund liquidations Arix Biosciences (ARIX), Reneuron (RENE), Mereo Biopharma (MPH) and 4D Pharma (DDDD) look set to be among the firms braced for the potential sale of all or parts of the shareholdings held by Woodford Invesmtent Management in the coming days, as the troubled manager appears to […]
Invesco Enhanced Income expects strong gains environment to moderate over the rest of 2019 – Invesco Enhanced Income (formerly Invesco Perpetual Enhanced Income) (IPE) had a solid first half period to 31 March 2019, delivering a NAV total return of +1.9%. This compares to total returns of -2.3% for the shares and +0.8% for 3-month […]
In QuotedData’s other news 7 June 2019: Impact Healthcare REIT (IHR) will join the FTSE EPRA/NAREIT global real estate index on Monday 24 June. Rupert Barclay, non-executive chairman of IHR, believes the inclusion will allow the company to increase its investor base and grow liquidity in the shares. The sub-investment grade focused debt investor, CVC Credit […]
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