Starwood European Real Estate Finance (SWEF) has this morning announced that it has raised £40m in an ordinary share placing. The placing was announced on May 7, which we covered here. Sirius Real Estate, a leading operator of branded business parks providing conventional space and flexible workspace in Germany, has completed the acquisition of Buxtehude […]
GCP Student Living raising capital for new London build – GCP Student Living (DIGS) is to raise capital through an ordinary share placing, which will be directed towards financing the purchase of Scape Canalside, a new-build asset located immediately adjacent to Queen Mary University of London and in the same locality as the company’s existing […]
Civitas NAV rises in first quarter – the following announcement was released at 7:00am this morning “The Board of Civitas Social Housing PLC (“Board”), a leading London listed Real Estate Investment Trust (“REIT”) dedicated to investing into regulated social housing in England and Wales, is pleased to announce its quarterly net asset value (“Net Asset […]
AIC sector review To make it easier to compare similar funds, the Association of Investment companies (AIC) classifies its members into sector categories. To do this, it takes into account the aim and objective of the company and its investment policy. The idea is to allocate funds to sectors for the long-term and to avoid […]
Hipgnosis buys catalogue from Dave Stewart – Hipgnosis Songs Fund has acquired a music catalogue from David A. Stewart. David A. Stewart is an English musician, songwriter, and record producer, best known for Eurythmics, his successful partnership with Annie Lennox. Hipgnosis has acquired 100% of David A. Stewart’s copyright interest in his catalogue, comprising 1,068 songs in […]
Civitas comments on BeST ruling – The Regulator of Social Housing issued a judgement on Bespoke Supportive Tenancies Limited (“BeST”), which provides accommodation for vulnerable adults from various client groups including adults with learning disabilities, physical disabilities, sensory impairment, mental health needs, mothers fleeing domestic abuse and adults who are homeless. BeST is one of the […]
JZ Capital Partners (JZCP) reported annual results covering the period to February 28, 2019. The company, which mainly invests in US and European microcap companies and US real estate, delivered an NAV return of +0.6%. David Zalaznick, JZCP’s co-founder and investment adviser, said: “We are pleased with the continued strong underlying performance of the US and European microcap […]
Edinburgh Dragon picks some winners in China while Korea and India lag – Edinburgh Dragon Trust (EFM) has reported half-year results this morning, covering the period to Ferbruary 28, 2019. Total return NAV was down 1.1% and the share price up 1.2% in the comparison period to August 31, 2018. Moutai a highlight EFM’s chairman, […]
HgCapital to invest in B2B platform Litera Microsystems – The private equity trust, HgCapital (HGT), has this morning announced that it is investing in Chicago-based Litera Microsystems (Litera), a provider of end-to-end document lifecycle solutions to the legal and life sciences industries worldwide. HGT will invest approximately £32.1m in Litera (terms have not been disclosed […]
Syncona’s Blue Earth gets good results in prostate cancer diagnosis – Syncona has a large stake in Blue Earth Diagnostics. Blue Earth has been testing its prostate cancer diagnosis at a university hospital in Germany. The test (a radiohybrid PSMA-targeted agent, rhPSMA-7) for high-risk primary and recurrent prostate cancer was bought by Blue Earth in […]
Starwood European looks to raise £40m – Starwood European Real Estate Finance (SWEF) has announced a new ordinary share placing with a target raise of £40m at a price of 104.8 pence per placing share. SWEF’s shares have closed most of the discount to NAV that came about in late 2018 on the back of […]
Polar Capital Global Financials Trust (PCFT) has announced that Mr. Simon Cordery has been appointed as an independent, non-executive director, with effect from 1 July 2019. Mr. Cordery has considerable and detailed knowledge of the investment trust industry and remains actively involved with the Association of Investment Companies. A resolution proposing the election of Mr. […]
QuotedData’s other news 3 May 2019 Standard Life Investments Property Income reported an increase in its NAV for the first quarter of 2019 – up 0.1% to 91.1p, with the dividend that works out as a NAV total return of 1.4%. The benchmark fell over the period. A clutch of new lettings helped the company […]
Templeton Emerging offers performance triggered tender – Templeton Emerging Markets’s board has been consulting shareholders in advance of its continuation vote (scheduled for the AGM in July 2019). In response to the shareholder feedback received, the board has decided that, subject to the passing of the continuation resolution, it will introduce a five-year performance-related conditional tender […]
Downing Strategic Micro says underlying discount growing – the NAV per share dropped by almost 20% over the year to the end of February 2019. The shares moved from trading at a small premium to a small discount. There will be a dividend of 1.25p, payable from earnings of 1.5p. There are 13 companies in […]
BlackRock Smallers extends outperformance record – BlackRock Smaller Companies reports that its NAV return for the year to the end of February 2019 was -4.8%. However, the share price rose a little over the period, giving shareholders a return of 2.4%, and the dividend was increased by 20% to 31.2p. The benchmark (Numis Smaller Companies plus […]
Our main stories this morning were: Highcroft Investments buys Ipswich gym and motorcycle showroom Samuel Tak Lee locks horns with Shaftesbury again Impact Healthcare REIT acquires four care homes Greencoat UK Wind announces new share issuance programme GCP Student Living ploughs more cash into Guildford QuotedData’s other news 2 May 2019
GCP Student Living (DIGS) has announced that it has entered into a conditional forward purchase agreement to acquire a high specification, purpose-built, private student accommodation residence in the same locality as its Scape Surrey asset in Guildford. The property is expected to be completed for the 2020/21 academic year providing 403 beds. Ideally located for […]
Greencoat UK Wind has announced a new programme of share issuance that is to be conducted over the next 12 months through a number of tranches. The initial placing and the initial offer for subscription launchi today (Thursday 2 March 2019). The company says that a prospectus, relating to the Share Issuance Programme, is expected […]
Impact Healthcare REIT has announced that it has acquired four care homes from subsidiaries of the Maria Mallaband and Countrywide Group (MMCG) in a sale and leaseback transaction. MMCG will continue to operate the homes after completion. The net purchase price is £21.0 million, reflecting a net initial yield of 7.4%. Impact Healthcare REIT says […]
Shaftesbury has announced that its board has received “a letter before action and a draft particulars of claim” from companies controlled by Mr Samuel Tak Lee. Shaftesbury says that these concerns allegations and claims relating to the placing conducted by Shaftesbury in December 2017. Mr Lee, a Hong Kong billionaire property magnate, currently has an interest […]
Highcroft Investments has announced that has completed on the purchase of the freehold interest of a gym and retail warehouse investment in Ipswich for £4,650,000, representing a net yield of 7.04%. The seller was Huron Properties Limited and the purchase has been funded from the company’s existing debt facilities. Dave Whelan Sports and Orwell Motorcycles […]
Africa Opportunity to offer switch to realisation pool – “In accordance with the prospectus dated 28 March 2014 a continuation vote will be put to shareholders this year, which will take place at a general meeting at the time of the company’s AGM, which is currently expected to take place in June 2019. The continuation […]
Dunedin Income Growth redeemed its £28.6m 7.875% debenture stock as planned and at par (£100 for every £100 worth of debentures). It borrowed £30m at 3.99% fixed until 2045 ahead of this and funded the redemption by selling a portfolio of corporate bonds. International Public Partnerships is investing another £12.4m in the Midlands Batch Priority Schools […]
Ceiba’s first results show Trump impact – Ceiba Investments has published its first set of results since listing in the UK. Aberdeen Standard Investments paid the company $5m to buy the management contract. How this deal is treated in the accounts distorts the figures – either it is recognised straightaway or the accountants spread the […]
Oakley invests in Spanish online insurance firm – Oakley Capital Investments says its Fund III has agreed to form a joint venture with Admiral Group and Mapfre S.A. to combine Rastreator Comparador Correduría de Seguros S.L. (“Rastreator”) with Asesor Seguros Online S.L. and Asesor Consumer Services S.L. (together “Acierto.com”), two of Spain’s digital brokers for insurance […]
Sareum (SAR), together with its US-based licensee Sierra Oncology, should be a major beneficiary in competitive terms from an apparent decision by Lilly to discontinue development its Chk1 inhibitor, prexasertib. Sierra has the only other compound with this mechanism in clincial trials and, as a result, its Chk1 inihitibitor, SRA737 – which originated at Sareum […]
Hedge fund trust Third Point Offshore Investors has solid start to 2019 – Third Point Offshore Investors (TPOU) announced in December 2018 that it would migrate its entire portfolio into a newly-created share class of the underlying Master Fund managed by Dan Loeb and his team (you can read more about this story here). TPOU […]
