Central Asia Metal’s Kounrad copper operation, in Kazakhstan, is now recovering the metal from the Western dumps on the property. In April, the company applied the first acid through an extensive drip irrigation system to an initial leach area on its dump 22 and when QuotedData visited the site last week we observed pregnant leach […]
Wolf Minerals reports that during the March quarter it implemented significant equipment changes and modifications in the processing plant at its Drakelands tungsten/tin mine, in Devon. These modifications have resulted in improvements in ore throughput rates in the plant and in the grade of tungsten concentrate being produced. In addition, open pit mining operations are […]
P2P Global’s board say that “2016 was a year of significant challenges, both for the company and its markets. The Board of the company has announced a review of its investment management arrangements, following a year of disappointing performance both on dividend yield and share price. The Board expects to update shareholders on the outcome […]
VPC Speciality Lending says its total NAV per share return was 0.85% for 2016. They declared dividends of 6.00 pence per ordinary share. Declared dividends were below the 8.0% targeted at the time of the IPO, with the underperformance being largely attributable to lower-than-expected returns from the company’s marketplace loan investments, due to higher-than-expected loss […]
Honeycomb Investment Trust says that, following the initial share issue of GBP100.0 million, there have been two further successful share offerings with total gross proceeds of GBP100.0 million. The net share proceeds of all the share offerings have been deployed, with the latest gross proceeds of GBP50.0 million largely deployed on 13 January 2017 following […]
Third Point Offshore Investors Limited has announced its full year results for the twelve months ended 31 December 2016. The net asset value appreciated 6.1% for the U.S. Dollar and 5.6% for the Sterling share classes, respectively, in 2016. They say that performance was driven primarily by positive returns in the Master Fund’s corporate and sovereign credit positions. Gains […]
Wee-Li Hee, the lead portfolio manager for The Scottish Oriental Smaller Companies Trust , is due to return from maternity leave in July. In discussion with the First State Stewart Asia management team and the Board of Scottish Oriental, Wee-Li has expressed a preference to step back from lead portfolio manager responsibility for the Company. […]
Aberforth Geared Income has reached agreement in principle with Aberforth Split Level Income Trust plc (ASLIT) on the outline terms of the reconstruction and winding-up of the company, expected to become effective on 30 June 2017, under which ASLIT will act as a rollover option for investors in the company. ASLIT will be a new split […]
Aberdeen New Thai’s net asset value rose by 26.5% on a total return basis to 600.2p, compared to the sterling-adjusted gain for the benchmark, the Stock Exchange of Thailand Index, of 36.5%. The share price rose by 27.8% on a total return basis to 510.0p, reflecting a narrowing of the discount to the net asset value (including income) […]
Over the year ended 31 January 2017, ICG Longbow’s NAV increased from 100.18 pence per share to 103.80 pence. The main reason for this was a significant increase in revenue to GBP12.33 million (31 January 2016: GBP8.36 million) as exit and prepayment fees were earned on three loan repayments. Earnings per share of 9.62 pence were significantly […]
Over the year to the end of January 2017, Witan Pacific reports that its NAV total return was approximately 30.7%, and its share price total return was 26.1% – these compare to a 35.3% return for the MSCI AC Asia Pacific Index. A significant part of that return was determined by the weakness of sterling. The Japanese […]
Phoenix Spree Deutschland had a good 2016. The EPRA NAV per share rose by 19.7% to EUR2.73. The portfolio value increased by 49.5% to EUR423.8 million, or 19.4% on a like-for-like basis excluding the impact of acquisitions and disposals. Positive market fundamentals continued to drive growth in demand for rental apartments, while supply remained constrained. […]
Invesco Perpetual UK Smaller Companies has announced its annual results for the year ended 31 January 2017. During the period, the company provided an NAV total return of 21.3% and a share price total return of 24.0%, both outperforming that of the company’s benchmark, the Numis Smaller Companies Index (excluding Investment Companies), which the company […]
Over the course of 2016, Kubera Cross Border’s net assets decreased from US$55.33 million to US$41.37 million during the year ended 31 December 2016. The fund’s net asset value per share decreased from US$0.50 to US$0.38. The share price has remained fairly constant at around US$ 0.20 between 31 December 2015 and 31 December 2016. The discount decreased […]
Blackstone/GSO Loan Financing delivered a total NAV return per Euro share of 13.28% in 2016, finishing the year with a NAV per Euro share at EUR1.0238. The Euro shares finished the year at a discount to NAV of 1.10%. They paid four dividends in respect of the reporting period ended 31 December 2016, equating to an […]
Hansteen has agreed to up its offer for Industrial Multi Property Trust by 10% to 330p per share. The surprise move (Hansteen had already declared the previous offer unconditional) has been welcomed by Alpha Real Trust, Industrial Multi Property’s largest shareholder. “Alpha Real Trust Limited (“ART”) and Antler Investment Holdings Limited (“Antler”) are IMPT’s two […]
Blue Capital Management Ltd., the company’s Investment Manager, advised Blue Capital Global Reinsurance Limited of Mr. Adam Szakmary’s resignation from the Investment Manager effective as of 21 April 2017. Mr. Szakmary resigned from all of his former executive positions and directorships with the Investment Manager and its subsidiaries. In his letter, Mr. Szakmary did not […]
GCP Infrastructure has committed to subscribe for a loan note of up to £40 million in aggregate, the proceeds of which will be used to finance supported living units for occupation by adults with learning or physical difficulties. The Loan Note, with an expected term of c.35 years, will be used to provide funding for […]
HgCapital, the Manager of HgCapital Trust has agreed the sale of QUNDIS, a leading provider of sub-metering solutions in Europe, to a German investment group around KALORIMETA (“KALO”), a leading service providers for climate-intelligent solutions in the buildings sector, for a total enterprise value of c. EUR400 million. The sale of QUNDIS delivers a c. 3.5x […]
Phaunos Timber Fund Limited has announced its audited results for the year ended 31 December 2016. It made a net profit of US$18.3 million for the year compared to a net loss of US$10.5 million in the prior year. Total net assets now stand at US$301.3 million so that the NAV per share increased from US$0.49 as at […]
Civitas Social Housing PLC has completed the purchase of a portfolio of regulated social housing for a total consideration of GBP3.5 million, comprising the freehold interest in 3 supported living properties, with 13 tenancies, in the West Midlands and South East of England. The portfolio is immediately income generating with an initial net yield of […]
The Kennedy Wilson Holdings Board (KW) and the Independent Committee of Kennedy Wilson Europe (KWE) are pleased to announce that they have reached agreement on the terms of a recommended all-share merger. Eeach KWE Scheme Shareholder will be entitled to receive: 0.667 New KW shares for each KWE share. Based on the closing price of US$22.50 per […]
Lxi REIT has acquired the Cambridge Belfry Hotel at Cambourne, Cambridge. The purchase price for the Property is GBP18.53 million, reflecting a net initial yield of 6.1% on the asset acquisition (net of acquisition costs). The property is fully let to Marstons Hotels Limited and guaranteed by its parent, QHotels Holdings Limited. QHotels is a […]
NextEnergy Solar Fund (NESF) has announced that it has signed six share purchase agreements to acquire the special purpose vehicles owning six plants, totalling 28MWp, with an investment value of £30.5m. Completion expected during the first half of 2017. The plants are Rampisham, Aller Court, Hill, Forest Farm, Wasing and Flixborough solar plants and are […]
Hammerson has announced that it has signed a £360 million unsecured Revolving Credit Facility (RCF) at an initial margin of 90 basis points. The RCF is with a syndicate of fourteen international banks and has a maturity of five years which may be extended to a maximum of seven years. Hammerson says that the new […]
Aurora has announced its results for the 10-month period from 29 February 2016 to 31 December 2016. Its chairman, Lord Flight (pictured), explains that reason for the ‘short year’ is to align Aurora’s accounting period with that of its Investment Manager, Phoenix Asset Management Partners, who have been in place for approximately 15 months, following […]
Vietnam Enterprise Investments (VEIL) had a great 2016, its NAV rising 22.98%, outperformed the VN Index by 5.7%, despite a flurry of market-boosting new listings and the outlier performance of index heavyweights Faros (“ROS”, +791.7%, 3.3% of VN Index) and Sabeco (+51.5%, 8.5% of VN Index). This was VEIL’s best relative performance against the VN Index […]
Caledonia Mining’s Blanket gold mine, in Zimbabwe, produced 12.8koz of gold in Q1 2017, an 18% increase on Q1 2016. Production continues to be supported by access to resources below the 750m level through the development of a second decline into the AR Main ore body as well as through the current decline at AR […]
GCP Infrastructure – funding for Green Investment Bank – The Board of GCP Infrastructure notes the announcement by Macquarie Group today in respect of its acquisition of the UK Green Investment Bank. The Board confirms that the company has entered into a conditional, binding commitment with a Macquarie-owned entity to subscribe for a series of loan […]
