Law Debenture Corporation discusses sector move in solid H1 showing – The £700m market cap trust, Law Debenture Corporation (LWDB), has reported half-year results covering the period to 30 June 2019. The NAV total return for the period was 10.3%, while the shares returned 12.1%. For those not familiar with its structure, LWDB is a […]
RM Secured Direct Lending exploring capital raise – The direct lending sector company, RM Secured Direct Lending (RMDL), is exploring options to raise funds through a potential issue of new ordinary shares at a premium to NAV. RMDL wants to raise capital to go after what it sees as a strong pipeline of opportunities. The company […]
Acadia falls on negative trial result in schizophrenia – US biotech Acadia Pharmaceuticals (Nasdaq: ACAD) saw its stock fall by 15% today on the back of a negative top-line result from its 396-patient “Enhance” Phase III study of Nuplazid (pimavanserin) in treatment resistant schizophrenia. The company, which is a mid-size holding of the UK’s International Biotechnology […]
Oliver Gardey takes on ICG Enterprise – ICG Enterprise Trust says that its manager, ICG, has appointed Oliver Gardey to lead the investment team. Oliver will join in autumn 2019 and succeed Emma Osborne who, as previously announced, will move to a senior adviser role within ICG at the end of this year. In her new role, […]
Blue Planet halves dividend after asset allocation error – Blue Planet has reported a second successive year of capital losses and underperformance of its benchmark. Over the year to the end of April 2019, its NAV total return was -3.2% (-4.4% in 2018) against a return of 3.2% (8.5% in 2018) for the benchmark (“an index […]
Secure Income REIT sells hospital portfolio for £347m – Secure Income REIT has sold a portfolio of eight private hospitals for £347m. The sale of the Ramsay Health Care-let assets to US specialist healthcare REIT Medical Properties Trust will reduce Secure Income REIT’s LTV to 33.5%. The deal will increase EPRA NAV per share by an estimated […]
Unite posts strong earnings and dividend growth – Student accommodation specialist Unite Group, which is in the middle of a £1.4bn acquisition of Liberty Living, posted earnings growth of 16% in its half-year report, boosting its dividend by 8%. EPRA earnings rose to £61.2m in the first half of 2019, compared to £52.9m in H1 2018. […]
Ruffer reports a loss – Ruffer Investment Company has published unaudited results for the year ended 30 June 2019. For a company which is dedicated to preserving investors’ capital, the results were a disappointment. The total return on the NAV was -0.9% but a widening discount meant that the return to shareholders was -5.7%.The dividend […]
In QuotedData’s other news 23 July 2019: Yesterday’s mystery about who bought Woodford’s stake in Crystal Amber has been cleared up. Discount-driven investor, 1607 Capital Partners, announced that they now have a 10.34% stake in the company. The trades were done at 190p, a 23.7% discount to NAV and 3p below the market bid price at […]
Schroder REIT updates on performance – Schroder Real Estate Investment Trust has reported a marginal drop in NAV in the quarter to 30 June 2019. The unaudited NAV was £355.7m or 68.6 pence per share (pps), a decrease of 0.15% per share compared with the NAV at the end of March. It did, however, report a […]
Woodford Patient Capital reportedly puts £10m into Atom Bank Atom Bank has announced this morning that it has raised £50m from a group of investors including Woodford Patient Capital. One website is saying that WPCT’s share was £10m. From Atom’s news page: “Atom bank, the UK’s first bank built exclusively for mobile and the UK’s […]
Yew Grove REIT buys three industrial properties – Yew Grove REIT has exchanged contracts on a portfolio of three industrial buildings at the IDA Business and Technology Park, Garrycastle, Athlone. The purchase price was EUR13 million, which represents a net initial yield of 7.6 per cent. after accounting for purchase costs, and a potential reversionary yield […]
In QuotedData’s other news 22 July 2019: LXI REIT has agreed a new £100m revolving credit facility, provided by Lloyds Bank plc at 1.55% per annum over LIBOR. This complements the company’s existing 10-year, 12-year and 15-year term loan facilities with Scottish Widows. The new facility has an initial term of three years, which may be extended by […]
Target Healthcare REIT sells two care homes – Target Healthcare has completed the sale of two care homes in Surrey and Essex, the price has not been disclosed. The company received offers for the homes at a combined price greater than 5% above the 31 March 2019 book value. These disposals represent less than 3% of the […]
Primary Healthcare buys Meath health centre – Primary Health Properties has completed the acquisition of The Meath Primary Healthcare Centre, Dublin 8, a standing let primary care centre in the Republic of Ireland. The company announced it was planning to make this acquisition in March. Primary Health Properties ICAV, an Irish investment vehicle wholly owned by […]
Artemis Alpha has suffered a double whammy. It has announced its annual results for the year ended 30 April 2019 and it says that, over the year, its net asset value and share price declined by 8.6% and 8.9% respectively on a total return basis, while its All-Share Index benchmark increased by 2.6% over the […]
In QuotedData’s other news 19 July 2019: Adamas Finance Asia has announced that it has rescheduled its AGM. This was previously to take place on 17 August 2019, but has been pushed back to 15 November 2019. No explanation has been offered. The rescheduled AGM will be held at 19/F CMA Building, 64 Connaught Road, […]
John Laing Environmental Assets Group (JLEN) has announced that it has acquired Yorkshire Hydropower Holdings Limited (YHH”) for a total consideration, including working capital, of £4.3 million. YHHL is an entity that owns 100% of the equity in Yorkshire Hydropower Limited (YHL), which in turn holds the rights to two operational hydro projects and an […]
LXi REIT (LXI) has announced that it has completed six, long-let, index-linked acquisitions from separate developers and vendors. The combined total investment of approximately £55m reflects a weighted average net initial acquisition yield of 5.83% (net of acquisition costs). Following these purchases (and those it previously announced on 25 June 2019), the company says that […]
Genmab raises $582m in Europe’s largest ever Nasdaq IPO – Denmark’s Genmab has raised a gross total of $582m from its US IPO, the largest sum ever by a European biotech. Genmab, which is already listed on Nasdaq Copenhagen, sold 32.78m ADSs – each of which represents one-tenth of a share – at $17.75/ADS, only a 3% […]
Silence stock jumps on Mallinckrodt deal – UK biotech Silence Therapeutics saw its stock jump by 60% this morning on the back of a licensing deal, R&D collaboration and equity investment from the Irish-domiciled, US-based speciality pharmaceutical group Mallinckrodt. The overall deal has a “biodollar” or headline value exceeding $2.1bn, although initially it provides an upfront […]
In QuotedData’s other news 18 July 2019: The global growth fund, Brunner Investment Trust (BUT), reported half-year results to 31 May 2019 with NAV (with debt at fair value) up 2.9% on a total return basis. The company’s portfolio delivered a return of 4.1% between December 2018 and May 2019 – the main driver of performance […]
Amedeo Air Four Plus on the A380 – The wide-body (twin-aisle) aircraft leasing specialist sector fund, Amedeo Air Four Plus (AA4), has this morning published its annual report, covering the period to 31 May 2019. AA4 owns predominantly Airbus aircraft, including six A380-800 series planes, which are all leased to Emirates. It also has two […]
Oakley Capital to apply for specialist LSE listing – The UK-focused private equity investment company, Oakley Capital (OCI), has announced its intention to apply for admission of its ordinary shares to the specialist fund segment (SFS) of the London stock exchange’s (LSE) main market; OCI has given notice of the intended cancellation of trading of […]
Triple Point Social Housing announces £7.7m portfolio expansion – Triple Point Social Housing (SOHO) has announced that it has completed the acquisition of four supported housing properties and also acquired the land and entered into a forward funding arrangement to develop another supported housing project, comprising 46 units in total, for an aggregate commitment of approximately […]
Boussard & Gavaudan proposals unfriendly to smaller retail investors – The Europe-focused hedge fund company, Boussard & Gavaudan Holding (B&G), has struggled to arrest a long-standing discount and lack of liquidity in its sterling (BGHS) and euro (BGHL) shares – they both trade at discounts of more than 25 percent. Still, the detail behind the […]
BB Healthcare announces first half results and new chairman – BB Healthcare (BBH)’s chairman, professor Justin Stebbing, has stepped down from his role due to his other commitments, it has been announced. He will remain at the company in the capacity of non-executive director and will be succeeded as chairman by Randeep Grewal (currently a […]
Warehouse REIT growing its portfolio – Warehouse REIT (WHR) is busy expanding its portfolio; after raising £120m in April, the company has deployed a small chunk of the proceeds to acquire a warehouse property in Chorley, Lancashire for £3.60m and an industrial warehouse premises in Doncaster, South Yorkshire for £1.68m (extending its current holding at […]
Scottish Mortgage leads $121m round in AI-based biotech Recursion – Baillie Gifford-managed Scottish Mortgage lnvestment Trust (SMT) has led a $121m Series C private financing in Recursion Pharmaceuticals, a US-based company that combines automated experimental biology with artificial intelligence tools. The financing brought in three new institutional investors – Intermountain Ventures, University of Minnesota, Texas […]
Trust favourite Gilead expands R&D deal with Galapagos – US biotech giant Gilead Sciences (NASDAQ: GILD) has entered into a ten-year R&D collaboration with Galapagos (Euronext/NASDAQ: GLPG) covering rights to the Belgium group’s entire development portfolio. The transformative deal includes a $3.95bn upfront payment – a new record in the industry – as well as $1.1bn in […]
