LondonMetric Property has announced that it has exchanged contracts on the sale of its freehold Odeon Multiplex Cinema, in Taunton, Somerset, for £9.1m. The purcasher is the Asda Pension Fund and the sale price reflects a net initial yield of 5.5%. The eight screen, 27,000 sq ft cinema is let to Odeon Cinemas Ltd for a […]
Weiss Korea Opportunity Fund says, during the period from 31 December 2014 to 31 December 2015, the company’s NAV per share increased by 11.70%, outperforming the reference MSCI Korea 25/50 Capped Index, which returned -1.1% in Sterling terms. The company paid a dividend of 1.8580 pence per share on 26 June 2015. The Directors intend to return […]
Nimrod Sea Assets had an investment period of 18 to 24 months. Any cash which had not been invested or committed at the end of this investment period was to be returned to shareholders as soon as practicable. The Board had anticipated being in a position to return the unrequired, uninvested cash to shareholders after March […]
Ranger Direct Lending, which listed on the London Stock Exchange on 1 May 2015, has announced its annual results for its initial period from 10 April 2015 to 31 December 2015. During the period, the company’s NAV grew by 2.45%, whilst its share price grew by 2.50%. The company also paid 8.36p per share providing a […]
Juridica, a provider of strategic capital for corporate legal claims to both businesses and the legal markets, provides the following portfolio update. Two cases in the Company’s portfolio have reached settlement, with one being a definitive settlement agreement and the second being a partial settlement agreement and this latter case is ongoing. Gross proceeds from […]
FastForward Innovations has announced that it has subscribed for 29.4 per cent. (on a fully diluted basis) of Nevis incorporated private company,Frails LLC, the sole owner of a subsidiary providing and developing gaming products and technology with a focus on Virtual Sports and Virtual Casino products, trading under the brand “Leap Gaming”. Leap partners with top-tier […]
The six-month period to 31 January 2016 saw weaker performance from the Japanese stock market. Schroder Japan Growth’s net asset value per share on a total return basis reduced by 4.6% (compared to a negative total return of 1.9% for the period from the Benchmark Index). The share price produced a negative total return of […]
Mercantile has announced results for the year ended 31 January 2016. It outperformed its benchmark with a Net Asset Value return of 12.9% (cum income, debt at par) against 4.7% for the benchmark. The share price total return was 18.6%. They paid three interim dividends of 10.0p per ordinary share over the year under review, […]
Regional REIT Limited has announced the sale of two assets. Blythswood House, 200 West Regent Street, Glasgow, has been sold to Standard Life Investments for GBP17.4m, reflecting a net initial yield of 5.0%. The property was acquired in 2014 and then the previous lease was surrendered with a back-to-back letting-on a 25-year lease to Glasgow School […]
VinaLand has sold its stakes in both the Marina project and Parcel 5 of the My Gia project. The Marina project is a future development site located in Danang and was acquired by VNL in 2008, while Parcel 5 is a block of land situated within the My Gia township development project located in Khanh Hoa […]
Fair Oaks Income Fund generated a total NAV return of -1.5% over the course of 2015 despite the weakness suffered by the market in the last quarter of 2015. The total return based on share price was 4.7% and the company’s ordinary shares ended the year trading at a 9.7% premium to NAV. The shares outperformed the US bank […]
Over the course of 2015, Marwyn Value Investors’ NAV decreased by 19.39% to 239.16 pence. The reduction in NAV over the year is primarily attributable to falls in the share prices of Entertainment One Limited (“eOne”), Zegona Communications and Marwyn Management Partners, partially offset by gains in the share prices of BCA Marketplace (formerly Haversham […]
Infrastructure India has announced that an agreement has been signed for the sale of its interest in Western MP Infrastructure & Toll Roads Private Limited (“WMP”). It is also providing an update on its largest portfolio asset, Distribution Logistics Infrastructure Limited (“DLI”). WMP operates a 125 kilometre toll road in the central Indian state of Madhya […]
Acorn Income Fund has released its annual results for the year ended 31 December 2015. During the year, the company’s gross asset portfolio performance (adjusted for share issuance and buybacks) provided a total return of 17% outperforming the small cap indices. The Ordinary Share net asset value total return was 22.1%. The company says that […]
3i Infrastructure has announced that it has signed an agreement to acquire a 36% economic interest in Wireless Infrastructure Group, investing approximately £75m and joining existing majority shareholder Wood Creek Capital Management and the management team as shareholders. Completion of the transaction is conditional only upon receiving clearance from the European Commission under the EU […]
Further to its announcement on 18 March of the board’s intention to put proposals to shareholders for a manage wind-down of the trust, Dunedin Enterprise has now announced its proposals. Is summary, a general meeting is being convened for 11 March for the purpose of putting proposals to shareholders to change the trust’s investment policy […]
Empiric Student Property has announced that it has entered into a nomination agreement with the University of Bath in respect of three operating properties and two forward committed assets in Bath. The three operating properties are Piccadilly Place (pictured), Canal Bridge and Widcombe Wharf, whilst the two forward committed assets (due for completion in September 2016) […]
Baring Emerging Europe, managed by Matthias Siller (pictured) has announced that that an agreement has been reached with Baring Fund Managers Limited to remove the performance fee element of the management agreement with effect from 31 March 2016. Under the previous arrangement, Barings was entitled to a performance fee payable at the rate of 10% […]
London consultancy, Metals Focus, reports that in Q4 15 gold mining total cash costs (TCC) averaged US$631/oz, a decline of 1% on the prior quarter and 7% y-o-y and the lowest level since mid-2011. The weakening of many producers’ currencies (relative to the dollar) helped lower key mine site input costs, such as labour and […]
BH Macro has announced that it proposes to make a tender offer to acquire up to 25% of the issued shares of each share class of the company. The company says that it is making the tender offer in order to provide shareholders with an opportunity for more liquidity than is offered by on-market purchases […]
NextEnergy Solar has announced the acquisition of a portfolio of five operating plants totalling 84.2MWp for £97.9m. Completion is expected by mid April. The portfolio comprises Great Wilbraham (38.1MWp), Branston (18.9MWp), Bottom Plain (10.1MWp), Emberton (9.0MWp) and Berwick (8.2MWp). All these plants are connected and accredited under 1.4 Renewable Obligation Certificate (“ROC”) regime. NESF has put in […]
F&C Commercial Property reports that its net asset value total return for the year was 15.9 per cent and the share price total return was 2.8 per cent. The total return from the portfolio was 14.3 per cent, which compares favourably with a total return of 13.3 per cent from the Investment Property Databank (‘IPD’) […]
Project Finance Investments Limited has announced two loans of up to cGBP26m in aggregate to finance construction projects for a private residential care home and a municipal recycling facility. The terms of the loans are c.17 years and c.15 years respectively. Each loan is secured by way of a first ranking charge against the relevant […]
Menhaden Capital published its first set of results on 31 March 2016. these cover the period from its incorporation, through its listing on 31 July 2015 and up to 31 December 2015. Menhaden’s net asset value decreased from 97.7p (post IPO expenses of 2.3p) to 83.9p, representing a decline of 14.1% for the five months […]
The Board of Aberdeen Private Equity Fund Limited has announced that it has signed a supplemental agreement to amend the terms of its existing secured £15m multi-currency revolving credit facility with Lloyds Bank plc to a secured £40m four year multi-currency revolving credit facility. The facility will be available for general corporate and working capital purposes in accordance […]
Pacific Assets say that, during the year ended 31 January 2016, the company’s net asset value per share total return was -6.6%. For comparison, the MSCI All Country Asia ex Japan Index, measured on a total return, sterling adjusted basis, fell by 13.1%. A narrowing of the discount of the company’s share price to its net […]
2015 was a good year for Fidelity Japanese Values as it returned 24.6% on net assets and 20.5% to shareholders – both beating the total return on the Russell Nomura Mid/Small Cap Index Total Return (in sterling terms) which returned 19.4%. Nicholas Price’s manager’s report says, over the year, stock selection in the services sector […]
Foresight Solar Fund Limited has reached financial close on a £160m long-term debt facility. This facility will wholly refinance their £150m short-term acquisition facility currently in place. The long-term facility will be provided by Macquarie Infrastructure Debt Investment Solutions (“MIDIS”) and Abbey National Treasury Services (“Santander”) as follows: Tranche Amount Tenor Coupon/Margin Fixed-rate […]
Over the six months to 31 January 2016 the Henderson EuroTrust’s Net Asset Value (“NAV”) total return fell by 1.9%. This compares with a return on the benchmark index, FTSE World Europe (ex UK) Index of -6.1%. The share price total return was down by 5.1%. An interim dividend of 6.0p, an increase of 0.5p […]
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