EF Realisation proposes wind-up terms and the in-specie distribution of its Lonestar holding. The winding up of EF Realisation (EFR) and an in-specie distribution of the company’s shares in Lonestar to certain larger shareholders will require shareholders to vote in favour of resolutions at an EGM of the company, which will happen on 24 September 2018. UPDATE: 25 September […]
Hg announces an investment in BrightPay into Transition Capital – HgCapital (HGT) has announced that it has invested in BrightPay, a provider of accounting and HR payroll software to SMEs in Ireland and the UK. The terms of the investment are not disclosed. Transition Capital’s first investment In early 2018, HgCapital made a £75 million commitment to invest in Transition Capital and […]
Regional REIT reports on a disposal and on letting news – Regional REIT (RGL) has completed a sale of Cheshunt office site for £17.25m and has agreed the first letting for Aztec West. Disposal of Cheshunt office site The company, which is a REIT that specialises in UK regional office and industrial property, has announces it has […]
Crystal Amber reports on a good year – The activist fund, Crystal Amber (CRS) has delivered its full annual report for the year ending 30 June 2018. Positive performance The NAV per share rose by 19.7% over the reporting period. NAV total return for the year was 22.8%. This compares well when compared with the performance of the reference benchmark, the Numis […]
Pacific Horizon (PHI) – Strong stock selection delivers for Pacific Horizon’s shareholders. The company’s NAV rose by 13.6% on a total return basis. This was an outperformance of 7.6% of the company’s benchmark, the MSCI AC Asia ex-Japan index, which returned 6.0% on the same basis. The share price returned 26.9% (total return), an outperformance of 20.0%. Strong stock selection delivers for Pacific […]
BMS to disclose TYK2 inhibitor data that backed Phase III move for psoriasis Bristol-Myers Squibb (NYSE : BMY) is set to disclose data next week from a Phase II study on its TYK2 inhibitor BMS-986165 in psoriasis that supported a recent move of the asset into Phase III trials. This disclosure, which so far has received relatively […]
Malin achieves small increase in fair value of investments Dublin-listed biotech VC investor Malin (ISE:MLC) achieved a marginal increase in the fair value of its investment portfolio in the first half of 2018, with gains on its four largest investments set against write-downs on smaller ones. This fair value, which was struck in accordance with […]
Phaunos Timber gets new offer from Catchmark Timber Trust – CatchMark Timber Trust, Inc. (NYSE: CTT) announced today the company is evaluating a potential offer to acquire Phaunos Timber Fund. If completed, the transaction would significantly increase CatchMark’s market capitalization and enterprise value. At current stock prices, the combined company would have an $850 million equity value and $1.3 billion enterprise value. […]
Hansteen and Warehouse REIT deal collapses – Warehouse REIT has announced that the parties have been unable to agree terms and consequently the discussions have been terminated. As a result of the company not proceeding with the transaction, trading in Warehouse REIT’s shares on AIM is expected to be restored today. Hansteen‘s comment is just as terse. [QD […]
Triple Point Social Housing fully invested and ready to expand again – Triple Point Social Housing REIT has completed the acquisition of five supported housing properties, exchanged contracts on one further supported housing property, and has acquired the land and entered into forward funding arrangements to develop another supported housing scheme, comprising 38 units in total, for […]
Augmentum Fintech buys Monese stake – Augmentum Fintech has announced an investment of GBP5.3 million in UK based fast-growing mobile-only current account provider Monese. Augmentum is participating in this GBP46 million Series B fundraising alongside Kinnevik, PayPal and Avios, all of whom are investing in Monese for the first time. Monese (www.monese.com) launched in September 2015 as the […]
Solid results from GCP Student Living – Scape Bloomsbury ready for business – GCP Student Living has published its annual report, covering the year that ended on 30 June 2018. Highlights are: EPRA NAV (cum-income) per ordinary share of 149.12 pence and EPRA NAV (ex-income) per ordinary share of 147.61 pence at 30 June 2018 – up […]
Primary Healthcare Properties expands in Ireland – Primary Health Properties has acquired three modern, purpose built primary care centres in the Republic of Ireland, increasing the gross value of its Irish portfolio to over EUR100 million. An Irish collective investment vehicle wholly owned by PHP has acquired the entire issued share capital of Jellia Holdings Limited, a […]
Foresight Solar raising cash to fund acquisition – Foresight Solar Fund Limited is seeking authority to issue ordinary shares to allow it to fund the acquisition of a portfolio of 10 ground-based, solar power assets in the UK with a total installed capacity of 72MW for a total cost of GBP30.1 million, to reduce the company’s gearing and […]
Mucklow (A&J) says industrial property prices higher than they can justify, focused on development instead of acquisitions – Mucklow (A&J) Group has published results covering the year ended 30 June 2018. Its EPRA NAV rose from 471p to 559p over the year and EPRA EPS were flat at 25.06p (25.05p). The full year dividend has been […]
Supermarket Income REIT sees multiple opportunities – Supermarket Income REIT has published its first set of results, covering the 13 month period from incorporation to the end of June 2018. Highlights are: The IPO in July 2017 raised gross proceeds of GBP100 million at an issue price of 100 pence per ordinary share. SUPR’s shares were admitted […]
IBT-investee Sangamo set to disclose gene edited drug data US biotech Sangamo Therapeutics (Nasdaq: SGMO), a mid portfolio but recently enlarged holding for the UK-listed International Biotech Trust (IBT), is set to report the first clinical data from its SB-913 in vivo genome edited therapeutic for Hunter syndrome, at a scientific conference later this week. Sangamo will […]
AZN lupus setback shifts focus to J&J/Lilly drugs The failure last week of the first of two Phase III studies of an AstraZeneca monoclonal antibody in systemic lupus erythematosus (SLE) – and the now assumed lower prospects for success in the second almost identical trial – looks as if it will reduce yet further the industry’s […]
JZ Capital sells Water Treatment Industries to a fund advised by the managers – TWH Water Treatment Industries, Inc. (“Water Treatment Industries”), a subsidiary of one of JZ Capital Partners‘ portfolio companies, Triwater Holdings LLC has agreed to enter into a merger agreement with a newly incorporated subsidiary of DuBois Chemicals, Inc., a company controlled by Resolute Fund […]
IP Group-backed Genomics raises £25m in a Series B Genomics plc, a University of Oxford spin-out backed by UK-based healthcare/tech VC investor IP Group (LSE: IPO), has closed a £25.0m Series B financing round led by the major US biotech, Vertex Pharmaceuticals. Woodford Investment Management – manager of the Woodford Patient Capital Trust (WPCT) – Invesco Perpetual, Oxford […]
Hg, the Manager of HgCapital Trust, has announced that it has made an investment in Allocate Software, which it describes as, “a leading international provider of workforce solutions to the healthcare, defence and maritime sectors”. The terms of the transaction were not disclosed. HgCapital Trust plc will invest approximately £14.0 million in Allocate, alongside other institutional clients of Hg that […]
HICL Infrastructure sells AquaSure desalination stake – HICL Infrastructure Company has entered into an agreement to sell its 9.7% interest in the AquaSure Desalination PPP Project. The value of the group’s investment in AquaSure was increased by approximately 10% in September 2017, in line with a market transaction earlier that year. The disposal price agreed will generate […]
Phaunos now embroiled in Matariki lawsuit – Phaunos Timber Fund says that it has been made aware by Rayonier Canterbury LLC that Rayonier has issued proceedings in the Auckland High Court alleging a breach by Phaunos of confidentiality, notice and consultation obligations in the shareholders agreement between the parties in relation to their respective interests in the Matariki […]
Swiss-listed HBM Healthcare (HBMN) may see a gain from its investment in the private Danish company Y-mAbs Therapeutics, which has filed an S1 registration to raise up to $92m in a Nasdaq IPO. HBM has an 8.2% shareholding in Y-mAbs, which it valued at CHF23m (1.9% of NAV) in its accounts – suggesting the company currently has a CHF280m […]
Biotech trust stock favourite Alnylam Pharmaceuticals (Nasdaq: ALNY) gained more than 16% yesterday after the presentation of ostensibly highly positive clinical trial data on one of its key competitors at a scientific meeting. Alnylam is held by several of the sector’s specialist investment trusts including Biotech Growth (BIOG, 3.6% of NAV) and BB Biotech (BBB, 3.6% of NAV) […]
BB-backed Ionis hit as FDA rejects Waylivra Shares in Ionis Pharmaceuticals (Nasdaq: IONS), a key shareholding for BB Biotech (10.9% of NAV) and several other specialist investment vehicles, fell by more than 12% after hours yesterday, after the FDA issued a complete response letter (CRL) – effectively a rejection – of its new drug application for Waylivra (volanesorsen). The […]
Standard Life UK Smaller Companies – outperformance, merger and lower fees – the NAV of Standard Life UK Smaller Companies (SLS) delivers a total return of 24.8%, compared with the total return of 8.5% of it’s reference index, the Numis Smaller Companies plus AIM (excluding Investment Companies) Index. Outperformance The company’s performance was good throughout the year in question with a particularly […]
Electra’s Formal Sales Process is closed – but the Strategic Review continues For sometime, Electra Private Equity (ELTA) has been conducting a strategic review on itself. The objective of the review has been to consider all options for the future direction of the company and to implement a strategy to optimise shareholder value. There had been two previous […]
Better Capital 2012 warns on Everest/SPOT – The Better Capital PCC Limited 2012 Cell has made an announcement about its end March NAV. Everest Valuation at 31 March 2018/SPOT Progress BECAP12 GP Limited, General Partner of BECAP12 Fund LP, has informed the board of Better Capital PCC Limited that: in the process of finalising the 2017 annual […]
Trust favourite Gilead gears up for filgotinib RA Phase III data Gilead Sciences, a widely held stock among biotech investment trusts and a top 10 holding for BB Biotech (BBB, 5.1% of NAV) and Biotech Growth Trust (BIOG, 3.9%), is expected to report top-line results from two trials involving its JAK 1 selective inhibitor filgotinib in rheumatoid arthritis (RA) and in ankylosing […]
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