Qannas shares suspended pending major deal – Qannas has entered into conditional agreements to acquire a substantial portfolio of investment assets from a consortium of third party vendors. The independent directors of Qannas (Chris Ward and Richard Prosser) believe that the deal is a compelling opportunity to significantly enhance and broaden the existing investment portfolio of […]
US Solar Fund has announced it has closed the acquisition and financing of 100% of the cash equity interests in the 128MW Milford Solar Project. Construction is expected to begin immediately with full commercial operations expected before the end of 2020. The Company first announced the acquisition on 23 July 2019, however detailed disclosure was subject […]
In QuotedData’s other news 2 September 2019 – Ecofin Global Utilities and Infrastructure has announced that Stifel Nicolaus Europe Limited has been appointed as its sole Corporate Broker with immediate effect. St Peter Port Capital has announced that it proposes to terminate its discretionary investment management agreement with St Peter Port Investment Management Limited and become a […]
Woodford Patient Capital Trust (WPCT) has announced the appointment of Jane Tufnell as an independent non-executive director with immediate effect. Jane will also become a member of the Audit, Risk and Valuation and Management Engagement Committees. Jane has considerable investment trust and fund management experience, including a number of board and non-executive roles. She has […]
LXi REIT (LXI) has announced a number of acquisitions for a combined total investment of approximately £55 million. All are long-let and index linked, and the purchase price reflects a weighted average net initial acquisition yield of 5.70%. The company says that this compares favourably to its latest portfolio valuation yield of 5.13% as at […]
Sequoia Economic Infrastructure Income (SEQI) has announced a proposed placing of up to 125,000,000 new ordinary shares.. The placing price is to be announced separately on or around 13 September 2019, alongside the Company’s unaudited NAV as at 30 August 2019. Stifel Nicolaus Europe Limited (“Stifel”) is acting as financial adviser and sole bookrunner to […]
Hipgnosis Songs Fund Limited has announced that it has signed a Revolving Credit Facility (RCF) of £65 million from JPMorgan Chase Bank (as Lead Arranger). The RCF will be available for three years and the Company may request an increase in the RCF commitment by a further £35 million subject to certain conditions. Hipgnosis says […]
Alliance Trust has announced that Willis Towers Watson, its appointed investment manager, has added a new stock picker, Vulcan Value Partners (VVP), to its list of list underlying investment managers. Alliance Trust follows, what it describes as, a “best-in-class multi-manager investment strategy”. The appointment of VVP takes the number of stock pickers selected for the Trust […]
INPP preferred bidder for Rampion offshore link – International Public Partnerships Limited (INPP) says that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure and Transmission Investment has been appointed as preferred bidder for the long-term license and operation of a further offshore transmission project (‘OFTO’). The latest scheme, comprising the transmission cable connection to Rampion […]
In QuotedData’s other news 30 August 2019 – Symphony International says that the Niseko Property Joint Venture, in which it holds a 37.5% interest, has entered into a non-binding letter of intent to sell approximately 50% of its development land site. The land was acquired in stages between 2011 and 2012 and is located in the Hirafu […]
In QuotedData’s other news 29 August 2019 Duke Royalty has committed another £250k to its Pearl & Dean (cinema advertising) investment and restructured it so that the liability is against the holding company, Step investments limited, which in addition to owning Pearl & Dean, holds a spread other businesses. The funding comes at 18% and will […]
JLEN Environmental buys Norfolk AD plant – JLEN Environmental Assets Group is buying Warren Power Limited for an initial consideration, including working capital, of GBP14.8 million, plus possible additional deferred payments up to GBP0.8m. Warren Power owns 100% of the equity in Warren Energy Limited, which holds the rights and operational assets that make up the Warren […]
Oakley takes stake in Alessi – Oakley Capital Investments Limited says that Oakley Capital Private Equity III has completed an investment in Alessi S.p.A, the Italian high-end design business focussed on homeware products. They describe Alessi as an iconic homeware brand – “with 100 years of heritage; working with some of the world’s leading architects and […]
Flat year for Standard Life UK Smaller – that’s good After a difficult start, when the NAV dropped by 19.5% in total return terms, Standard Life UK Smaller Companies came roaring back in the second half of its financial year to finish with an NAV total return of -1.1% and a share price return of […]
In QuotedData’s other news 28 August 2019 – Hipgnosis Songs Fund settled for £51.1m of new money – issuing 48.4m shares at 105.5p. NB Distressed Debt Investment Fund has compulsorily redeemed on a pro rata basis 5,418,379 NBDX shares at a price of $0.9213 per NBDX share and 2,833,485 NBDG shares at a price of GBP0.8800 […]
In QuotedData’s other news 27 August 2019 – Adamas Finance Asia has put its interest in Hong Kong Mining Holdings into a new special purpose vehicle, domiciled in the British Virgin Islands, and named this Future Metal Holdings – you can access its website here. The SPV owns Dynamite Win Limited which owns 84.8% of Linfen Zhuangpeng […]
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 […]
