The Board of Troy Income & Growth Trust says the company has entered into a two year unsecured floating rate revolving credit facility, for GBP20 million, with ING Luxembourg S.A. The facility bears interest at 0.90 per cent over LIBOR and is for the acquisition of investments in accordance with the Company’s investment policy and […]
The board BH Global Limited has announced that following discussion with the manager, they have agreed a reduction to the management fee from two per cent. to one per cent. of net asset value per annum. The board believes that the reduction in the management fee is a very positive enhancement for investors and a significant affirmation by the […]
Target Healthcare REIT Limited has completed the acquisition of three purpose built care homes for a price of GBP20.9 million including acquisition costs: Willow Park Lodge, is situated next to the main hospital in Dover, Kent, and was acquired for a total consideration of GBP6.1 million including costs. It has 79 large bedrooms over four […]
Further to Ranger Direct Lending’s announcements regarding the bankruptcy proceedings in respect of Argon Credit, LLC and Argon X, LLC, the company has been informed by the Princeton Alternative Income Fund Ltd that it intends to take a reserve of $11.7 million against the Argon portfolio due to a decline in recent cash flows attributable to the portfolio. […]
VinaCapital Vietnam Opportunity Fund and VinaLand have sold their entire stakes in the Dai Phuc Lotus direct real estate project located in the Dong Nai province near Ho Chi Minh City, Vietnam. The site is a future residential – township development with a total site area of 198.5ha and was acquired in 2007. The Project is residential […]
NB Distressed Debt has published results for 2016. All three share classes are now in run-off. NB Distressed Global saw a remarkable rebound in its NAV over the year but investors at launch are still nursing a loss on their investment. On 31 March 2017 NBDG became the last of the existing share classes to enter into […]
Taliesin Property Fund reports that it s adjusted NAV per share rose 27.5% in 2016 to end the year at EUR37.53 (31 December 2015 EUR29.44, reflecting the EUR2 per share return of capital to shareholders during the period). On an EPRA basis, NAV per share was EUR36.87 at the end of 2016 (31 December 2015 EUR29.10). […]
The Board of LXi REIT has announced that: the Company has exchanged contracts to forward purchase the new Premier Inn hotel and Beefeater restaurant currently under construction at Spanish City Promenade, Whitley Bay, North Tyneside (the “Premier Inn Property”); and the Company has now completed on the acquisitions of the GE Oil & Gas facility […]
SVG Capital has announced the results of its Tender Offer which closed on 7 April 2017. The company says that 41,762,005 Ordinary Shares were validly tendered and will be purchased at a price per Ordinary Share of 715 pence, for a total cost of £298,598,335.75. This represents approximately 63.8 per cent. of the issued share […]
Funding Circle SME Income Fund (FCIF) has announced that its recent C share placing has seen 142,000,000 C Shares placed raising gross proceeds of £142 million. The net proceeds of the issue are to be used to purchase investments originated by Funding, save to the extent that some will be retained for working capital purposes, […]
Industrial Multi Property Trust is convening an Extraordinary General Meeting on 11 May 2017. The notice for the EGM includes four ordinary resolutions, including three requisitioned by Alpha Real Trust and one proposed by the Board of the Company. These are detailed below. The ordinary resolutions requisitioned by Alpha Real Trust: (1) THAT the Company […]
Scottish Mortgage has announced that it has agreed to raise a total of £125 million in long term, fixed rate, senior, unsecured private placement notes, denominated in sterling. The funds raised will be used to retire, in part, an existing bank debt facility of US$165 million which is to due to mature in early April […]
Redefine International has announced that it has reached a conditional agreement to acquire control of the German Leopard Portfolio joint venture, in which it holds an existing 50 per cent. equity interest, for an aggregate consideration of €49 million (€49.4 million including transaction costs). Following the acquisition, Redefine International will hold an effective 94 per […]
Epiris, the manager of Electra Private Equity (Electra), has announced that it has sold its remaining stake in Hollywood Bowl. Electra is to receive £40 million from the sale. This reportedly represents a small decrease in Electra’s NAV on the valuation of the investment at 30 September 2016 but, inclusive of proceeds already received, Espiris […]
Custodian REIT has announced that it has entered into an agreement with Aviva Investors Real Estate Finance (Aviva) for Aviva to provide it with a new term loan facility of £50m. The facility comprising two tranches: Tranche 1 is for £35m and Tranche 2 is for £15m. Custodian REIT says that it drew down Tranche […]
Phoenix Spree Deutschland has announce that it has exchanged contracts to sell a portfolio of 17 non-core properties in Nuremberg and Fürth for an aggregate cash consideration of €35.25m. The properties were acquired in 2007 and 2008 for an aggregate purchase price of €13.9m and the sale proceeds represent an 11% premium to the 31 […]
Infrastructure India plc announces that it has agreed an extension of the US$17 million working capital loan facility provided to the Company in April 2013 such that the maturity date of the Loan has been extended to 9 June 2017. The Company does not currently have sufficient cash resources to repay the Loan. The Loan, which […]
A few nice words from the chairman of India Capital Growth… Fred Carr, chairman of India Capital Growth, said: “in conjunction with the Investment Manager, the Board has employed the services of Marten and Co to write regular and detailed research on the Company throughout the year. Marten and Co have a broad and growing […]
Since launch in 2007, Rodger McNair has been F&C UK High Income’s manager. The fund has just passed a milestone. There is a performance related trigger for a continuation vote every five years. Over the five years ended 31 March 2017, F&C UK High Income has outperformed its benchmark. This means there is no need […]
NB Global Floating Rate Income Fund has published results for the year ended 31 December 2016. During the year the Company’s NAV total return (NAV plus dividends) was 8.17% and 8.41% for the Sterling Ordinary Shares and U.S. Dollar Ordinary Shares, respectively. During the same period the Company’s share price total return was 5.6% per Sterling Ordinary Share […]
LMS Capital says it has sold its majority stake in the, leading UK IT services business, 365IT, to CORETX Holdings plc. Under the terms of the acquisition the enterprise value of 365IT was agreed at GBP5.4m, which after adjusting for net debt of GBP800k results in an equity value of GBP4.6m, to be settled through […]
European Real Estate Investment Trust says that terms have been agreed for the sale of its last real estate asset, located in La Gaude, Nice, France and formerly occupied by IBM. The completion of the sale is subject to a waiver of statutory pre-emption rights from the city of La Gaude. Subject to this the […]
Menhaden’s net asset value per share total return for 2016 was +1.8% (2015: -14.1%) and the share price total return was -13.8% (2015: -23.0%). As at 31 December 2016, the discount of the share price to the NAV per share stood at 22.2% (2015: 8.2%). While they do not have a formal benchmark, during the year […]
In its latest results statement, the chairman of Oakley Capital says the fund performed well in 2016. There has been a 30% increase (on a like-for-like basis) in the fair values of the portfolio companies held by the Oakley Funds, reflecting strong underlying growth. This, together with the favourable impact of weaker Sterling, has resulted […]
After a year where the fund lagged its benchmark by some distance, Pacific Assets is seeking to broaden its mandate. The net asset value per share total return was +27.0% over the year ended 31 January 2017. By comparison, the benchmark, the MSCI All Country Asia ex Japan Index measured on a comparable basis, rose […]
Aberdeen Emerging Markets has announced that it has entered into a one year unsecured multicurrency revolving loan facility, with The Royal Bank of Scotland, for an amount of £25 million. It says that the facility is for general working capital purposes and for the acquisition of investments in accordance with its investment policy. About Aberdeen […]
BlackRock Smaller Companies Trust, managed by Mike Prentis (pictured), has announced that, following consultation with the Company’s largest shareholders it is amending its restriction that AIM listed stocks should not exceed 40% of the Company’s portfolio by value is being raised to 50%. The Trust’s board says that, as the amendment does not constitute a material […]
The Ottoman Fund has announced that it has settled all claims with its former finance director, Ahmet Sinan Kalpakçıoğlu, who it says embezzled money from several of the Company’s Turkish subsidiaries. According to The Ottoman Fund, Ahmet Sinan Kalpakçıoğlu has transferred the shares in Mandalina registered in his name to the Company, discontinued all litigation […]
FastForward Innovations has announced that it has sold out its entire holding of 268,213,880 shares of Blue Star Capital PLC for a cash consideration (after costs) of £305,763. The shares of Blue Star were acquired as consideration for the sale of FastForward Innovations’s holding SatoshiPay Ltd (SatoshiPay), which was announced on 2nd March 2017. The […]
P2P Global Investments says that it is conducting a review of its investment management arrangements. Following discussions with MW Eaglewood Europe LLP (the investment manager) and significant shareholders of the company, the board has resolved to initiate a review of the company’s investment management arrangements. The board will update shareholders as to the outcome of the […]
