Baillie Gifford UK Growth needs more time – Baillie Gifford UK Growth has published results covering the year to the end of April 2019. For the first two months of that period, the portfolio was managed by Schroders and it managed to underperform the All-Share Index by 2.0%. Over the subsequent 10 months, under Baillie Gifford, […]
Better Capital reports results as restructuring of 2012 cell continues – The distressed investing focused private equity company, Better Capital (BCAP), has announced annual results to 31 March 2019 for its 2009 (fund 1) and 2012 cells (fund 2) respectively. BCAP invests in businesses which have significant operating issues and may have associated financial distress, […]
Alliance Trust completes transformation with subsidiary sale for £40m – Alliance Trust (ATST) has announced the completion of the sale of its subsidiary company, Alliance Trust Savings, to Interactive Investor. The total deal value is £40m; ATST expects the net proceeds to be £34.5m, which will be re-invested into its global equity portfolio. The global […]
Tufton Oceanic buys $28.3m vessel – Tufton Oceanic (SHIP) has reached an agreement to acquire a containership for $28.6m. The new ship will take the company’s fleet size to 15 vessels. The new ship has a time charter of approximately 5.5 years to a major container line and SHIP says it is going to invest […]
Sareum raises £0.8m to advance TYK2/JAk1 programmes Sareum Holdings (SAR) has raised £0.78m through a placing of 195m shares at 0.4p per share, in a move principally designed to progress its TYK2/JAK1 programmes. As a result of the placing, the company will have 3.07bn shares in issue. The funds Sareum to advance its internal programmes – SDC-1801 […]
China and India deliver for Aberdeen New Dawn – Back in October 2018, we published a research note that discussed moves by Aberdeen New Dawn’s (ABD) to take advantage of selling across Asian markets to increase its exposure to China (click here to access this research note). This has worked out well; ABD reported year-end […]
In QuotedData’s other news 28 June 2019 Origo Partners results to end December 2018 (ancient history now) show its NAV halving from 3.9 cents to 1.8 cents, down to: – (i) write offs of the company’s investments in Celadon, Gobi Coal, Staur Aqua, Fram, Six Waves, and Unipower; (ii) realised losses from the company’s sale of its […]
Woodford board wakes up – After weeks of virtual radio silence, the Woodford Patient Capital board has started to make some concrete plans for the future, although along the way it has lost one of its directors. On gearing WPCT has a borrowing facility for up to £150 million and on 26 June 2019, approximately £126.0 […]
Renewables Infrastructure buys French wind farms – The Renewables Infrastructure Group has made two onshore wind investments, increasing the proportion of the portfolio in France from 10% to 13%. TRIG has acquired a 34.6% equity interest and all of the shareholder loans in Fujin SAS, a holding company that owns a portfolio of five operational windfarms […]
Target buys Nottingham care home – Target Healthcare has completed the acquisition of a property in the city of Nottingham for approximately £7.6 million, including transaction costs, through a sale and leaseback. Constructed in 2013, Acorn House comprises 64 bedrooms, each with full en suite wetroom facilities, over three floors. It is close to the centre […]
Symphony’s MINT sells three hotels – Symphony International Holdings says that Minor International Pcl (“MINT”), Symphony’s largest investment, has entered into agreements to sell and leaseback three hotel properties in Lisbon, Portugal to Invesco Real Estate. The gross selling price for the properties is €313 million. The deal has generated a €62 million gain for MINT. […]
Gabelli Value Plus expecting a return to form for value investing – The US equities focused investor, Gabelli Value Plus (GVP), has reported annual results to 31 March 2019. A total returns summary is shown below: NAV total returns of +6.9% (-6.5% in 2018) Compared to S&P 500 total returns of +18.2% (+2.0% in 2018) […]
Syncona sells Blue Earth Diagnostics to Bracco Imaging – Syncona has reached an agreement to sell Blue Earth Diagnostics to Bracco Imaging, a global leader in diagnostic imaging for $450 million (GBP354.3 million) plus closing adjustment estimated at $25 million (GBP19.7 million). The sale delivers a 10.0x multiple, including prior distributions, on invested capital for Syncona […]
SDCL Energy Efficiency Income reports inaugural results – SDCL Energy Efficiency Income (SEIT) is one of the newer investment trusts having listed in December 2018, raising £100m. It has this morning released its inaugural set of annual results, covering the period to 31 March 2019. The market for energy efficiency is rampant globally, which has […]
Gresham House Strategic continues to see value in UK – The UK smaller companies, focused private equity style, fund, Gresham House Strategic (GHS), published its audited financial results for the year to 31 March 2019, this morning. We covered the leading return figures when the unaudited results were released in April (click here to access) […]
BlackRock Income and Growth reports H1 results with shares up 10.5% – BlackRock Income and Growth (BRIG) reported half-year results covering the period to 30 April 2019 with NAV total returns up 7.3% and the shares up 10.5% over the period. BRIG’s position in John Laing Group, the global infrastructure investor, performed particularly well, re-iterating […]
Miton UK MicroCap (MINI) has an annual redemption facility through which shareholders are entitled to request the redemption of all or part of their holding. The trust announced on 3 June 2019 that it received valid redemption requests for 14,317,907 ordinary shares for the 28 June 2019 redemption point (representing 9.4% of the issued share […]
AbbVie to buy Allergan in a $63bn deal US pharma giant AbbVie is to acquire the US-based, but Irish-domiciled speciality pharma Allergan, in a cash-and-share deal with an equity value of $63bn. he transaction is designed to expand and diversify AbbVie’s revenue base into new therapeutic areas, including what is termed medical aesthetics – Allergan […]
Standard Life Investments Property Income re-lets Bourne House – At Bourne House in Staines (a 26,300sqft office) the company took a surrender of the lease on the whole from the existing tenant, Ricoh, which had indicated it wanted to downsize, and which had a break in 2021. Simultaneously the property has been re-let on a new […]
In QuotedData’s other news – 25 June 2019 Supermarket Income REIT (SUPR) has announce a 12-month extension of the maturity date of its £100 million Revolving Credit Facility with HSBC from 30 August 2020 to 30 August 2021. SUPR says that the original terms of the facility are unchanged, and the facility contains one further […]
Real Estate Credit Investments (RECI) has announced its annual results for the year ended 31 March 2019. The company has reported an increased year end NAV of £1.65 per Share, which it says builds upon the consistency of the previous four years. During the year, RECI provided total dividends of 12.0p per Share and […]
Sequoia Economic Infrastructure Income Fund (SEQI) has announced that, further to its announcement on 3 June 2019 that it was seeking to raise gross proceeds of £216 million by way of an Open Offer, Placing and Offer for Subscription, the Issue has been significantly oversubscribed. SEQI’s board say that investor demand for the Issue has […]
LXi REIT has announced that, following the completion of its £200m equity fundraising that was announced on 13 June, it has completed a number of acquisitions for a combined total investment of approximately £135 million. The company says that this reflects a weighted average net initial acquisition yield of 5.7% (net of acquisition costs). The […]
QuotedData attends Civitas annual results – Civitas Social Housing (CSH) presented its annual results, to 31 March 2019, at an analyst briefing earlier this morning. The company says the portfolio has been independently judged to have produced £114m worth of social value to date, including £59m annual direct savings to the taxpayer. We will discuss […]
BMS’s plan to dispose of Otezla puts focus on putative TYK2i class Bristol-Myers Squibb has announced plans to divest the anti-inlammatory drug Otezla (apremilast) – which it would ostensibly obtain in its pending merger with Celgene – seemingly to allay anti-trust concerns over new oral treatments for psoriasis. The move is likely to be of […]
Securities Trust of Scotland (STS) has announced its annual results for the year ended 31 March 2019, in which it outperformed its peers. During the period, STS provided an NAV total return of 11.4% and a share price total return of 9.6%. The trust says that that these are ahead of the peer group median […]
Hipgnosis Songs Fund (SONG) has announced its maiden final results in which it says it has achieved a 6.1% gross yield. Specifically, the results cover the period from 8 June 2018 (SONG’s date of Incorporation) to 31 March 2019. SONG says that, “recognised net revenues from the Portfolio from incorporation on 8 June 2018 to […]
AEW UK REIT (AEWU) has announced its annual results for the year ended 31 March 2019, during which it achieved its target income returns of 8p per share. Dividends were fully covered by EPRA EPS of 8.07 pps. Mark says that this reflects the high yielding nature of the portfolio. . The chairman, Mark Burton, […]
BMO Private Equity Trust (BPET) has announced that it has entered into a new five-year unsecured credit facility agreement with The Royal Bank of Scotland International Limited. The new facility is comprised of a €25 million term loan and a £75 million multi-currency revolving credit facility. It replaces BPET’s previous arrangements with Royal Bank of […]
Further to Regional REIT’s (RGL’s) announcement on 17 May 2019 that it was considering an equity fundraise “to take advantage of its growing near-term pipeline of opportunities”, the company has announced proposals for a £50m fund raising. The proposed fundraise will comprise a Placing, Open Offer, Offer for Subscription and Intermediaries Offer. In summary, RGL […]
