Shaftesbury has announced that its board has received “a letter before action and a draft particulars of claim” from companies controlled by Mr Samuel Tak Lee. Shaftesbury says that these concerns allegations and claims relating to the placing conducted by Shaftesbury in December 2017. Mr Lee, a Hong Kong billionaire property magnate, currently has an interest […]
Highcroft Investments has announced that has completed on the purchase of the freehold interest of a gym and retail warehouse investment in Ipswich for £4,650,000, representing a net yield of 7.04%. The seller was Huron Properties Limited and the purchase has been funded from the company’s existing debt facilities. Dave Whelan Sports and Orwell Motorcycles […]
Africa Opportunity to offer switch to realisation pool – “In accordance with the prospectus dated 28 March 2014 a continuation vote will be put to shareholders this year, which will take place at a general meeting at the time of the company’s AGM, which is currently expected to take place in June 2019. The continuation […]
Dunedin Income Growth redeemed its £28.6m 7.875% debenture stock as planned and at par (£100 for every £100 worth of debentures). It borrowed £30m at 3.99% fixed until 2045 ahead of this and funded the redemption by selling a portfolio of corporate bonds. International Public Partnerships is investing another £12.4m in the Midlands Batch Priority Schools […]
Ceiba’s first results show Trump impact – Ceiba Investments has published its first set of results since listing in the UK. Aberdeen Standard Investments paid the company $5m to buy the management contract. How this deal is treated in the accounts distorts the figures – either it is recognised straightaway or the accountants spread the […]
Oakley invests in Spanish online insurance firm – Oakley Capital Investments says its Fund III has agreed to form a joint venture with Admiral Group and Mapfre S.A. to combine Rastreator Comparador Correduría de Seguros S.L. (“Rastreator”) with Asesor Seguros Online S.L. and Asesor Consumer Services S.L. (together “Acierto.com”), two of Spain’s digital brokers for insurance […]
Sareum (SAR), together with its US-based licensee Sierra Oncology, should be a major beneficiary in competitive terms from an apparent decision by Lilly to discontinue development its Chk1 inhibitor, prexasertib. Sierra has the only other compound with this mechanism in clincial trials and, as a result, its Chk1 inihitibitor, SRA737 – which originated at Sareum […]
Hedge fund trust Third Point Offshore Investors has solid start to 2019 – Third Point Offshore Investors (TPOU) announced in December 2018 that it would migrate its entire portfolio into a newly-created share class of the underlying Master Fund managed by Dan Loeb and his team (you can read more about this story here). TPOU […]
British Empire Trust (BTEM) has entered into an agreement with Scotiabank Europe for a Japanese Yen 4.0bn revolving credit facility for a period of three years. The facility is equivalent to £27.7m at current exchange rates. BTEM wants to add some flexibility to the management of its gearing and the new facility will also bring […]
Carador Income Fund discusses wind-down timeline – Carador Income Fund (CIFU) has reported a 10.52% decline in its NAV total return over the year to December 31, 2018, on the back of the wider sell-off in global markets in Q418. We note that the decline in the NAV compared with growth of 9.53% in 2017, […]
RDL Realisation’s (RDL) board has requested that its ordinary shares and zero dividend preference shares be temporarily suspended from trading on the London stock exchange with immediate effect as the company is not in a position to publish its audited annual report by the end of tomorrow (30 April 2019), This delay is among other things due to […]
Honeycomb Investment Trust taking advantage as banks retreat from speciality space – Honeycomb Investment Trust (HONY) has released its financials covering the year to December 31, 2018. The company had a good year with its asset secured lending model in the speciality space demonstrating the ability to withstand the many economic, political and market challenges […]
Middlefield Canadian Income sees room for optimism – Middlefield Canadian Income (MCT) outperformed its benchmark by 0.4% in the financial year to December 31, 2018. The fund, which also invests in the US to take advantage of certain opportunities that may not be readily available in Canada, focuses on high-yielding sectors such as real estate […]
Civitas amends fee structure – Civitas Social Housing’s board and investment adviser have agreed to change the way that the adviser’s fees are calculated so that they are based on IFRS NAV instead of Portfolio NAV. The difference between the two NAVs is explained in our note Socially beneficial investing (see page 10). As the IFRS […]
Riverstone launches European power company – Riverstone Holdings LLC, manager of Riverstone Energy Limited, has announced the formation of Onyx Strategic Investment Management I BV, a newly formed European independent power producer. Onyx will have an initial focus on Germany and the Netherlands, following the signing of an agreement to acquire a fleet of coal- and […]
Gresham House Energy Storage has announced that it believes it will be fully invested by the end of the year. It is seeking to issue up to 75m new shares via a placing. Cantor Fitzgerald are running this, the closing date is 3pm on 24 May, the price is 101p – a premium to NAV […]
Globalworth buys two Polish office buildings – Globalworth is making two investments in Poland, for a combined transaction value of EUR113.2 million. Retro Office House, a newly completed office development located in central Wroclaw benefitting from excellent connectivity to all parts of the city and a range of public transport options, is to be acquired for […]
Witan Pacific announces third consecutive year of underperformance – For the year ended 31 January 2019, Witan Pacific has announced that its net asset value total return was -7.4% and the share price total return was -10.3%. These compare to a benchmark return of -5.4%. The chairman says that three of the company’s four underlying […]
AVI Japan Opportunity looking to expand – The board of AVI Japan Opportunity has announced a placing of shares in the company. Between today and 3pm on 10 May 2019 (or earlier if the company agrees) Nplus1 Singer Advisory and Kepler Partners will be working with the company to raise more money. Because the deal […]
Lord Rothschild to be President of RIT Capital – RIT Capital Partners announced at its AGM, that following several years of succession planning, Lord Rothschild will step down as chairman and a director on 30 September 2019, and will take up the role of president. His replacement as chairman is Sir James Leigh-Pemberton. Sir James […]
CVAs hit F&C Commercial Property Trust – F&C Commercial Property Trust has published results for the year ended 31 December 2018. Highlights are: NAV total return 3.3% and share price total return of -4.3 per cent, both lagging the 6.2% return generated by the MSCI Quarterly Property Universe Portfolio total return of 4.0 per cent Dividend […]
Alex Barr joins Henderson Alternative team – Alex Barr will work as senior manager on Henderson Alternative Strategies Trust, alongside James de Bunsen and Peter Webster. Janus Henderson Investors has appointed Alex Barr to join its UK Multi-Asset and Alternatives team in London and he will be starting in July 2019. Alex will be co-manager on […]
RDI REIT loses bid agrees standstill with Aviva – Yesterday evening the board of RDI REIT released the following announcement: “The Board of RDI notes the announcement by Cromwell that it does not intend to make an offer for RDI and that it is consequently bound by the restrictions under Rule 2.8 of the City […]
Smooth flying for DP Aircraft in 2018 – The aircraft leasing company DP Aircraft (DPA) has published its annual report for the year to December 31, 2018. The company, which has a fleet of four Boeing 787-8 series aircraft that are currently leased to Norwegian Air Shuttle (NAS) and Thai Airways international, expects the state […]
QuotedData’s other news – 24 April 2019 The board of JPMorgan Russian Securities (JRS) announced this morning that Gill Nott has joined the board of directors as chairman of the US Solar Fund (USF), which commenced trading on the main market of the London Stock Exchange on 16th April 2019 Elsewhere, Henderson International Income (HINT) […]
ICG-Longbow Senior Secured UK Property Debt Investments reports annuals – The UK real estate debt investor ICG-Longbow Senior Secured UK Property Debt Investments (LBOW) has reported annual results this morning for the 12m period to January 31, 2019. Key portfolio figures £107,221,546 invested in 9 loans as at 31 January 2019 £121,271,423 invested in 10 loans […]
Yew Grove REIT upbeat on Irish economy – Irish REIT Yew Grove (YEW) published its first annual report this morning following its inauguration, covering the period from April to December-end 2018. We wrote about the headline numbers from this period they were first released in February 2019. Click here to read more on this story. […]
QuotedData’s other news – 23 April 2019 CIP Merchant Capital has acquired 950k ordinary shares in CareTech Holdings (CTH) for a consideration of around £3.2m. CTH is a provider of specialist social care services supporting adults and children with a wide range of complex needs in more than 250 specialist service centres around the UK. […]
Tony Roper to take over as Aberdeen Standard European Logistics Income chairman – Aberdeen Standard European Logistics Income (ASLI) has this morning published its annual report to December 31, 2018 and made the announcement that Tony Roper will succeed Pascal Duval as chairman of the trust. Tony will take the reigns following the company’s AGM […]
Catastrophic events hit CATCo Reinsurance Opportunities – CATCo Reinsurance Opportunities (CATC) had a tough 2018 in what was a highly challenging year for the industry. The company reported its annual results to December 31, 2018, this morning, with total return NAV down 35.7% for the C Shares issued in November 2018 while returns on the […]
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