Autolus investment the main drag in an otherwise solid quarter from Syncona – Syncona, which predominantly invests in life sciences companies, has released a quarterly update this morning (covering the period to 30 June 2019). We have covered many of the events referenced by the company, in earlier news stories, which we link to in […]
In QuotedData’s other news 9 August 2019 BMO Global Smaller Companies has announced the issue of £35m of fixed-rate 20-year unsecured private placement notes at a coupon of 2.26%. This refinances the company’s 3.5% Convertible Unsecured Loan Stock (“CULS”) which matured on 31 July 2019. RDL Realisation has announced a special dividend of 255p per share. The special […]
JPMorgan Brazil asks for more time – JPMorgan Brazil has just released its results for the year ended 30 April 2019 and, while at least the NAV move was positive, once again the trust lagged its benchmark. A continuation vote is planned for this year’s AGM. The board is asking shareholders for more time to […]
Tritax Big Box on road to serious growth – Tritax Big Box REIT posted an uptick in profits in the first half of the year on the back of strong rental growth. Operating profit before changes in fair value of investment properties increased by 5.7% to £60.7m, while rental income grew 3.5% to £166.8m. The […]
AEW Long Lease rethinks its future – AEW UK Long Lease REIT has rejected several takeover approaches and plans to go it alone. The company received several proposals, but the board concluded none of the proposals reflect the true value of the group. The company said the proposals, in some instances, undervalued certain of the group’s assets or […]
Phoenix Spree discusses Berlin rent controls – Phoenix Spree Deutschland, the UK listed investment company specialising in Berlin residential real estate, has updated on proposed rent controls in the German capital. The proposed new Berlin State rent controls continue to create significant uncertainty which has negatively impacted the company share price, resulting in a valuation discount […]
Derwent London sells Clerkenwell office – Derwent London has sold a central London office building for £103m and reports strong half year results. It has exchanged contracts to sell The Buckley Building, in Clerkenwell, London for £103m. The 85,100 sq ft office building, which produces annual income of £4.87m, has been sold to to CBRE Global Investors at a […]
In QuotedData’s other news 8 August 2019 Assura has raised £107m of debt through the issue of private placement notes with maturities in 10 and 15 years – £47m issued now and £60m on 25 October – with a weighted average interest rate of 2.3%. Discount-driven investor, City of London, now has a 5% stake […]
NextEnergy Solar invests in Northern Ireland – as part of a wider updates on its operations, Next Energy Solar Fund has announced the acquisition of an 8MWp solar farm in Northern Ireland for £8.5m. Ballygarvey is an 8MWp solar plant located in Northern Ireland, connected to the grid in March 2018. The plant receives subsidies […]
Pantheon powers ahead – over the year ended 31 May 2019, Pantheon International generated an NAV return of 14.7% and a share price return of 10.7% against a backdrop of flat/falling markets – the MSCI World Index returned 2.5%, a UK index returned -3.2%. Weak sterling contributed to the result. Highlights: Assets in the portfolio […]
Hipgnosis buys Benny Blanco catalogue – Hipgnosis Songs Fund Limited has acquired a music catalogue from Benny Blanco and is looking to increase its borrowing facilities. Changes to borrowing limits The Hipgnosis board believes that it is appropriate to adopt a new borrowing policy under which the company may borrow up to a maximum of 40% […]
Cambria Africa’s Paynet Zimbabwe is getting litigious – rather than running the risk of misreporting this, we reproduce the announcement from Cambria Africa in full: “Further to the announcement of 4 July, the Company confirms that its legal representatives Titan Law, served summons on the Bankers Association of Zimbabwe (BAZ) on behalf of Paynet Zimbabwe […]
In QuotedData’s other news 7 August 2019 – Hansa Trust will be kicked out of UK indices on liquidity grounds (free float too small) when it redomiciles to Bermuda, putting some selling pressure on the stock. Effective date 29 August 2019. FastForward may have to sell its stake in Cryptologic after that company said it would […]
Aquila buys Finnish wind farm – Aquila European Renewables Income Fund has announced the planned acquisition of its fourth investment since its IPO in May 2019. The company has secured the exclusive right to acquire Aalto Wind No 2 Ltd Oy, the holding entity for a Finnish wind farm, for later this year by entering into a […]
Stenprop records significant rental growth in industrial portfolio – Stenprop has reported strong leasing success and significant rental growth in its UK multi-let industrial (MLI) portfolio. In a trading update for the period from 1 April 2019 to 30 June 2019 the company completed 29 new lettings and 17 lease renewals at average rental uplifts of 24% and […]
In QuotedData’s other news 6 August 2019 – VPC Speciliaty Lending says that it has put in place an amended funding arrangement with Oakam, a UK-based digital micro-lender. Oakam got itself into trouble and was placed in administration. It came out of administration at the end of June and received a £6m cash injection from its […]
Onwards and upwards at Civitas – on the face of it, the second quarter of 2019 was a relatively quiet one for Civitas Social Housing. Its NAV at the end of June 2019 rose to 107.21p, up from 107.08p and the annualised rent roll went from £45.7m to £46m. The quarterly dividend was 1.325p, in […]
Veteran manager Martin Hudson stands down – Martin Hudson, manager of The Mercantile Investment Trust, has relinquished responsibility for the trust and will retire from JPMorgan Asset Management in the final quarter of 2019. His co-managers, Guy Anderson and Anthony Lynch, will continue to run the trust. Chairman, Angus Gordon Lennox said: “Martin has worked […]
Warehouse REIT drives up rent with Boots deal – Warehouse REIT has secured a 10-year lease renewal with Boots at a 42% uplift in rent. Boots has signed the lease renewal at the warehouse at Daneshill Industrial Estate in Basingstoke, which comprises 113,000 sq ft of distribution facilities on a six acre site, with no […]
RIT Capital assets hit high as Rothschild bows out – over the first six months of 2019, RIT Capital Partners delivered a total return on NAV of 8.5%. Net assets surpassed £3bn and the company’s share price rose by 10.1%. A second interim dividend of 17p has been declared, bringing the total to 34p, 3% […]
In QuotedData’s other news 5 August 2019 Chenavari Toro’s tender offer for 5% of its shares was not taken up in full – just 2.9% of shares were tendered validly – the company will shrink by just under €8m. Foresight Solar has refinanced 312MW of solar farms with a GBP170 million term loan facility, a GBP65 […]
Great start for Baillie Gifford US Growth – Baillie Gifford US Growth has published its first set of results and they are pretty good. During the period from 23 March 2018 to 31 May 2019, the share price and net asset value returned 28.4% and 28.8% respectively. This compares with a total return of 22.2% for […]
Augmentum Fintech has announced that it has invested £5m in the on-line mortgage broker and lender, Habito. Habito (www.habito.com) says that it searches the whole market (90+ lenders, 20,000+ mortgages) to find its customers the best mortgage based on their circumstances About Habito Habito describes itself as “transforming the United Kingdom’s £1.3 trillion mortgage market […]
Flowstream Royalties Limited (FSR) has published a prospectus (see below) in relation to an IPO that is targeting a capital raise of up to US$250m (with a minimum of US$100m) to invest in royalties and streams on assets related to the upstream oil and gas industry, and associated infrastructure. Once the Company is fully invested, it intends to […]
In QuotedData’s other news 2 August 2019 Capital and Regional has provided a trading update for the first half of 2019, ahead of its half-year results, which will follow on 11 September. The company says that it is seeing continued evidence that its community strategy is working; strong leasing momentum with new lettings undertaken at […]
Diverse Income Trust’s annual results, for the year ended 31 May 2019, suggest it has been a challenging year for the trust. During the period, the trust’s NAV fell by 5.9% on a total return basis, while its share price fell by 13.6% in total return terms, reflecting a widening of the discount during the […]
Henderson Smaller Companies (HSL), managed by Neil Hermon (pictured) has announced its annual results, for the year ended 31 May 2019, during which it mildly underperformed its benchmark. The chairman, Jame Cayzer-Colvin, highlights that this is just the second year of underperformance in the 16 years that Neil Herman as managed its portfolio. Specifically, HSL’s net assets […]
Gabelli Value Plus tender and continuation vote – Gabelli Value Plus+ Trust is planning to hold a tender offer for up to 14.99% of its issued share capital (excluding treasury shares). Details will be announced shortly. A continuation vote is planned for the AGM in 2020 (this is triggered if the trust trades at more than […]
Palace Capital converts to REIT – Palace Capital will join the UK REIT regime from today. The company has provided HMRC with notice of the conversion and said it expects to pay the first dividend as a UK REIT in December. It also announced a significant letting at its Sol Northampton leisure scheme. It has let […]
In QuotedData’s other news 1 August 2019 GCP Student Living is planning to dip into its debt facilities to fund the acquisition of the 412-bed Scape Mile End Canalside. Its LTV ratio could move into the mid 30s per cent. level. Fidelity Japan was 7.6% ahead of its benchmark at the half-year stage (up 14.8%). The […]
