Oakley Capital Investments has reported NAV and shareholder returns of 2% over 2024. The full-year dividend was 4.5p. We covered the the trust’s 2024 returns here, but to recap, the trust invested £299m (including Steer Automotive Group, ProductLife Group, I-TRACING, Assured Data Protection, vitroconnect, Konzept & Marketing, Alerce, Horizons Optical, and new venture investments in […]
LMS Capital announced a strategic review and a shareholder consultation on 13 February 2025. The board has reached the conclusion that this would be most effectively achieved by a managed realisation of the company’s assets and returns of capital over time. A consideration in this decision was the prevailing and persistent discount to NAV, the […]
Golden Prospect Precious Metals says that over 2024 its NAV rose by 20.4% from 35.81p to 43.10p with a peak value of 55.87p in October. In the meantime, the share price rose from 29.50p to 35.50p, likewise gaining 20.3%, with highs in October at 46.0p. The performance was well ahead of the VanEck Gold Miners […]
In QuotedData’s morning briefing 13 March 2025: Isaac Thong is being appointed lead manager of abrdn Asian Income Fund (AAIF) to work alongside Eric Chan. Isaac is joining Aberdeen’s Asia Pacific Equities team from JPMorgan, where he co-managed JPMorgan Global Emerging Markets Income Trust (JEMI) and the open-ended JPMorgan Emerging Markets Income Fund. He will […]
Pacific Horizon Investment Trust (PHI) announced its interim report for the six months to 31 January 2025. During the first half of the financial year, the company produced a NAV total return of 3.0% compared to 6.7% for the benchmark MSCI All Country Asia ex Japan Index. The share price total return over the period […]
Law Debenture Corporation (LWDB) announced its annual results for the year ended 31 December 2024. The company delivered a NAV total return of 13.6%, while shares were up 15.9%, outperforming the benchmark index which returned 9.5%. The company delivered a dividend yield of 3.8%. Commenting on the performance, chair Robert Hingley noted: “Law Debenture has […]
NextEnergy Solar Fund (NESF) announced that it has consolidated its two existing short-term RCFs into one facility, leading to an overall reduction in margin at attractive terms of 120bps over SONIA. The new consolidated facility combines the company’s existing RCF with Santander into its other RCF under a consortium of lenders Allied Irish Banks – […]
Sirius Real Estate has exchanged contracts to acquire a business park and development opportunity in Southampton for a total £40.5m. The company has agreed to acquire Chalcroft Business Park for £36.5m, representing a net initial yield of 5.5%, as well as an adjoining 4.5 acre piece of development land with outline planning permission, for £4.0m. […]
In QuotedData’s morning briefing 12 March 2025: Ruffer Investment Company (RICL) announced its interim report for the six months to 31 December 2024. The company delivered a share price total return of 0.2% while the NAV total return was down 0.4%. The managers noted that the period was a frustrating one, although point out that […]
Cobalt investment company, Cobalt Holdings has announced plans to list on the LSE. Cobalt Holdings is looking to capitalise on the rising demand for the metal, which is a key component of electric vehicles and the broader renewables transition. The company is aiming to raise £180mn in a May listing and is backed by commodity […]
Mobius Investment Trust (MMIT) announced its annual results for the year ended 30 November 2024. The company delivered a NAV total return of 5.2% marginally trailing the benchmark MSCI Emerging Markets Mid Cap index return of 6.6%. The share price total return was 5.1%, with shares now trading at a 8.2% discount. The manager noted […]
In QuotedData’s morning briefing 11 March 2025: Ecofin U.S. Renewables Infrastructure Trust (RNEW) announced the completion of the disposal of its DG Portfolio was completed on 10 March 2025. The disposal is the first sale to be signed and completed as part of the managed wind-down. The net proceeds of the disposal (after deduction of […]
Care REIT has agreed a deal with US-listed care home provider CareTrust for the sale of the company for £448m. The recommended cash offer would see Care REIT shareholders receive 108p per share, which represents: a 32.8% premium to the closing price of 81.3p on 10 March 2025; a 36.0% premium to the one-month volume weighted average […]
On Friday 7 March, Urban Logistics REIT (SHED) announced that funds managed by Harwood Capital, including North Atlantic Smaller Companies (NAS) and the newly incorporated Achilles Investment Company (AIC), which was established to target the hefty discounts in the alternative assets space, including property, own 3.21% of SHED’s voting rights. It would appear that the […]
Primary Health Properties (PHP) has responded to the announcement made by Assura Group this morning that Assura’s board is minded to recommend to its shareholders an indicative offer from KKR and Stonepeak, while rejecting proposals for a merger with PHP as the latter is less attractive for its shareholders. In its statement, PHP says that […]
M&G Credit Income (MGCI) has announced that, in light of the strong demand for its shares over the last 12 months, it is undertaking a fundraising that will comprise a placing and a WRAP retail offer, both of which are to be priced at a 1% premium to NAV (the exact issue price is expected […]
Great Portland Estates (GPE) has secured its largest fully managed deal to date, letting over 11,500 sq ft of fully managed space to the retailer Next at its newly refurbished 31 Alfred Place, WC1. The space has been let on a five-year term, ahead of ERV. Next has additional office space to complement their existing […]
Assura (AGR) has received an indicative, non-binding proposal from Kohlberg Kravis Roberts & Co. Partners L.L.P. (KKR) and Stonepeak Partners (UK) LLP for the company at 49.4p per share. The deal would value Assura’s equity at £1,607m and represents: a 31.9% premium to the closing share price of 37.4 pence on 13 February 2025 being […]
Warehouse REIT (WHR) has announced that it has agreed a 375,000 sq ft, ten-year lease renewal at Midpoint 18, Middlewich, with Wincanton Plc, a leading supply chain specialist and one of the largest occupiers in WHR’s portfolio. Wincanton will be paying a new headline rent of £6.50 per square foot, rising to a minimum of […]
HydrogenOne Capital Growth (HGEN) says that its portfolio company Elcogen AS, which it describes as a leading European manufacturer of solid oxide technology, has announced the launch of the Horizon Europe SYRIUS project, with Acciai Speciali Terni Spa, a leader in Europe’s stainless-steel sector. As at 31 December 2024, HydrogenOne’s investment in Elcogen represented 18% […]
The Renewables Infrastructure Group (TRIG) has announced that it has completed on the sale of a 15.2% equity interest in the 330MW Gode offshore wind farm project in Germany, originally announced on 1 August 2024, at a 9% premium to carrying value. The completion follows the receipt of relevant consents and clearances, and TRIG has […]
In QuotedData’s morning briefing 10 March 2025: Montanaro UK Smaller Companies (MTU) has published a circular seeking to renew the trust’s repurchase authority (for up to 21,640,007 ordinary shares, or, if fewer, that number of ordinary shares which is equal to 14.99% of MTU’s issued ordinary share capital (excluding treasury shares) at the date of […]
The Association of Investment Companies held its annual Directors’ Conference on 6 March 2025. If you were imagining scenes of champagne sipping and back slapping, it could not be further from the truth. Directors take their jobs seriously and they know that there is a mountain to climb to stem outflows, narrow discounts, and fend […]
Vietnam Enterprise (VEIL) has said that it proposes to introduce a five-year performance-related 100% tender offer that will be conditional on VEIL’s NAV total return underperforming against its reference index, currently the Vietnam Ho Chi Minh Stock Index (VN Index), over the five-year period from close of business on 31 March 2025 to close of […]
Alliance Witan (ALW) has published its annual results for the year ended 31 December 2024, which it describes as a landmark year – 2024 saw the trust promoted to the FTSE 100 merger following the merger with Witan. ALW’s share price was £12.44 as of 31 December 2024, representing a share price total return of […]
Urban Logistics REIT’s board has agreed an internalisation proposal with the principals of Logistics Asset Management (LAM), its investment adviser, to be effected via the acquisition by the company of the management vehicle. The initial consideration will be £6.8m to be paid in shares, with added payments that will vest over time depending on the […]
In QuotedData’s morning briefing 7 March 2025: AVI Japan Opportunity (AJOT) has appointed Singer Capital Markets to manage an irrevocable share repurchase programme to buy back ordinary shares within certain pre-set parameters. The programme commences today and will run until 7 April 2025. UIL Limited (UTL) says that, further to its announcement on 10 December […]
Greencoat Renewables (GRP) has published results for 2024. Its NAV return for the period was 4.5%. Its share price return is nowhere to be seen in the announcement, the annual report, or the results presentation, but – for interest – the share price fell from 101.6 cents to 82.3 cents, factoring in the dividend for […]
Premier Miton Global Renewables’s (PMGR) results for 2024 show a -26.1% return on NAV and -15.2% return to shareholders. The return on the S&P Global Clean Energy Index was -24.1%. Equity shareholders’ net assets are now just £18.5m and the asset cover on the zero dividend preference (ZDP) shares is down to 1.89x. The full […]
At the AGM held yesterday, Geiger Counter survived a continuation vote despite Saba voting a big block of shares against continuation. [We have been warning investors to be vigilant in cases like these. Voting your shares is vital.] Here is the full report of the meeting: The Chairman of the AGM reports that all ordinary […]
