The board of Digital 9 Infrastructure (DGI9) provided an update on its recent shareholder consultation. Further to the announcement of 28 September 2023, the company’s board of directors confirms it has engaged with shareholders, representing approximately 74% of the issued share capital, in conjunction with the investment manager and the company’s joint corporate brokers, J.P. […]
Seraphim Space Investment Trust (SSIT) has announced its audited results for the financial year ended 30 June 2023. The company’s NAV total return was -7.1%, while shares fell 49% to see the discount widen to 70.9%. Regarding the discount, the board continues to believe this does not reflect the performance of the portfolio or how […]
In QuotedData’s morning briefing 17 October: Harmony Energy Income Trust (HEIT) announced the successful energisation of two BESS projects: the 198 MWh / 99 MW Bumpers project, located in Buckinghamshire; and the 99 MWh / 49.5 MW Little Raith Project in Fife, Scotland. Both projects were energised ahead of schedule and take the company’s total […]
Vietnam Holding (VNH) has released its annual results for the year ending 30 June 2023. Over the period VNH reported a negative NAV return of (5.7%), though this represented an outperformance relative to the market, measured by the VNAS index, which fell by (10.0%). This also marks the fifth year of management under Dynam Capital. […]
Hipgnosis Songs Fund (SONG) has announced that on 13 October 2023 Citrin Cooperman, SONG’s independent valuer, has materially reduced its expectations of industry-wide retroactive payments in relation to the U.S. Copyright Royalty Board’s decision regarding royalties payable to songwriters for the period covering 2018-2022 (CRB III). This means that the board expects significantly lower retroactive […]
In QuotedData’s morning briefing 16 October 2023: Asset Value Investors (AVI) has appointed Nick Greenwood to continue managing MIGO Opportunities Trust (MIGO). He will continue to work alongside co-manager Charlotte Cuthbertson, who joined AVI in July. Nick has worked with MIGO since its launch in 2004. Syncona (SYNC) has announced that its portfolio company Anaveon […]
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: • European Opportunities (0:26) • GoreStreet Energy Storage (4:26) • Chrysalis (9:54) This week’s interview was with James de Uphaugh from Edinburgh Investment Trust – […]
US stock markets have continued to power ahead in 2023. If the environment has been fragile, they have been seen as a source of stability; if investors have been more optimistic, they have seen US companies as a source of growth. They have outpaced their peers even as inflation has rebounded, interest rates have leapt […]
Chrysalis (CHRY) has provided the market with an update which sets out its capital allocation policy (this follows a consultation with shareholders in light of the emerging maturity of some of the company’s investments), details of proposed revisions to the performance fee and plans for a consultation with shareholders (based on the capital allocation policy […]
Fidelity Emerging Markets (FEML) has published its annual results for the year ended 30 June 2023, during which it provided an NAV total return of -2.6% and a share price total return of 5.2%, which compare against a total return for its benchmark of -2.8% (all figures in sterling terms). Key highlights from the report […]
JPMorgan UK Smaller Companies (JMI) has published its annual results for the year ended 31 July 2023, during which it provided an NAV total return of -5.0% and a share price total return of -4.4%, which compare to a return on its benchmark, the Numis Smaller Companies plus AIM Index (excluding investment companies), of -4.6%. […]
Foresight Sustainable Forestry (FSF) has acquired three assets in Scotland – Toun Hill, Threepwood Hill and Carlinden Burn – for a total cost of £8.3m (inclusive of tax and transaction costs). The purchase, which has been funded from FSF’s revolving credit facility (RCF), increases the size of FSF’s portfolio by 819 hectares to 12,545 hectares […]
Fidelity Asian Values has announced results for the 12 months endd 31 July 2023. The period was a relatively good one for the trust as the 11.4% NAV total return outperformed the comparative index (MSCI All Countries ex Japan Small Cap Index) which rose by 7.5% over the same period. A narrowing discount meant that […]
Hg, the manager of HgCapital Trust has mad an investment in JTL-Software-GmbH (JTL), a leading ERP software provider specialising in e-commerce enablement solutions for small and medium-sized businesses (SMB) across Germany. The terms of the transaction were not disclosed. Based in Hückelhoven, Germany, and co-founded in 2008 by two brothers, JTL provides ERP software solutions enabling […]
The board of European Opportunities Trust intends to introduce a performance related tender offer. This follows an extensive shareholder consultation exercise ahead of the forthcoming continuation vote to be proposed at the annual general meeting on 15 November 2023. Proposed conditional tender offer details If the company’s net asset value total return does not equal or […]
Alex O’Cinneide, CEO of the investment manager, commented: “I wish to address fellow shareholders directly regarding the recent performance of the company’s share price, which has been disappointing, particularly considering the company’s continued impressive operating performance. In light of this, the investment manager, Gore Street Capital has purchased shares, as announced on 3 October. [1,260,000 […]
HydrogenOne Capital Growth says that its portfolio company Cranfield Aerospace Solutions has announced a new route to market for its hydrogen fuel cell (HFC) propulsion system, with Dronamics, the world’s first cargo drone airline. Cranfield Aerospace and Dronamics have signed a Memorandum of Understanding to further progress the application of the Cranfield Aerospace’s HFC propulsion […]
In QuotedData’s morning briefing 12 October 2023: North Atlantic Smaller Companies (NAS) has sold its stake in Assisi Pet Care. On a look-through basis the trust invested £3.6m over the course of three years via a buy and build investment strategy and expects to receive at the closing, approximately £11m. This represents an uplift on […]
ThomasLloyd Energy Impact (TLEI) has announced that it plans to proceed with the controversial RUMS project which led to a suspension of the fund’s shares back in April following a raft of related issues. We have discussed these in detail over the last few months with our latest updates here, and here. QD Comment: “The […]
Picton Property has sold an office building to a student accommodation developer, as it continues to convert failing office space in its portfolio to alternative uses. The sale of the partially vacant office in Cardiff, which is conditional on gaining planning permission, will be at a price dependent on the exact planning consent obtained and […]
HydrogenOne Capital Growth (HGEN) portfolio company Elcogen has announced a strategic investment for €45 million by Korea Shipbuilding & Offshore Engineering which is a member of HD Hyundai Group. The investment by HD Hyundai underscores both the company’s strategy of backing the leading innovators in the hydrogen industry, and its valuation of Elcogen. HD Hyundai’s […]
Big Yellow Group has raised £110m in a placing, which it will use to out its existing development pipeline of self-storage sites. A total of 11,470,212 new ordinary shares have been placed at a price of 945 pence, and with existing and new institutional investors raising £108.4m, the executive directors participated to the tune of 301,586 shares and £2.85m. Concurrently with the […]
Regional REIT has appointed ARA Europe Private Markets Limited as its investment adviser, taking over from Toscafund Asset Management. The appointment follows the announcement in April that ARA Europe REIT Manager had acquired a majority shareholding in London & Scottish Property Investment Management, the asset manager of Regional REIT. The board said that it believes […]
In QuotedData’s morning briefing 11 October 2023: Apax Global Alpha (APAX) announced that it has invested approximately €16.6m in Bazooka Candy Brands. Apax’s Internet/Consumer sector team, working in partnership with Bazooka’s management team, will look to stand the company up as an independent business and build on the success of Bazooka’s global portfolio of confectionery […]
Welcome to the videos from the Investment Trust Forum 2023. The conference was for investment analysts, research committees and portfolio managers from all the major asset management groups, banks, stockbrokers, wealth managers and IFA networks and offered presentations and panel discussions on a range of topics. We were pleased to have panel sponsorship from Witan […]
HydrogenOne Capital Growth (HGEN) announced that portfolio company Gen2 Energy has signed a transaction term sheet with integrated midstream energy company SEFE Securing Energy for Europe GmbH for the delivery of green hydrogen to Germany in the event that Gen2’s planned production plant in Mosjøen proceeds. The transaction term sheet defines the terms and conditions […]
PRS REIT has reported a 3.0% uplift in EPRA net tangible assets (NTA) to 120.1p per share in full year results to 30 June 2023. The private rented sector is in the sweet spot with demand and supply dynamics significantly boosted by the housing and cost of living crisis. Strong estimated rental value (ERV) growth […]
European Smaller Companies Trust (ESCT) has announced its annual report for the period ended 30 June 2023. NAV total return for the period was 16.4%, ahead of the benchmark Euromoney Smaller European Companies (ex UK) Index, which was up 10%. Share price total return was 13.6% with the discount now sitting at 14%. Following a […]
Target Healthcare REIT reported a 6.9% fall in EPRA net tangible assets (NTA) to 104.5p per share in full year results to 30 June 2023. The care home landlord said that valuations had stabilised over the second half of its financial year following the impact of higher interest rates in the first half. Uplifts of […]
In QuotedData’s morning briefing 10 October 2023: Cordiant Digital Infrastructure Limited (CORD) announced that the acquisition of Speed Fibre DAC has been cleared under the United Kingdom’s National Security and Investment Act 2021. This clearance was required because an element of Speed Fibre’s network extends into Northern Ireland. Speed Fibre is Ireland’s leading open access […]
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