News

Miton UK MicroCap, managed by Gervais Williams (pictured), has announced that pursuant to the placing, offer for subscription and intermediaries offer of C shares (as described in its prospectus published on 4 February 2016) it has raised gross proceeds of £28m with net proceeds expected to be approximately £27.4m. The company says that applications received under the […]

GLI Finance has updated its NAV and given some information on the progress of the review of its business post the departure of its previous chief executive. There’s a lot in the announcement so we reproduce it in full below. “Confirmation of permanent CEO, Strategic Review and NAV Update  The Executive team  The Board of […]

Hammerson announced its results yesterday. The highlights were an 11.3% uplift in its EPRA NAV, a 12.6% increase in its adjusted earnings per share to 23.9p on the back of a 4.3% improvement in net rental income (2.3% like for like). Overall occupancy rose from 97.5% to 97.7%. Retail sales at their centres rose by […]

Regional REIT’s Board has announced that it intends to increase the frequency of dividend payments and move to the payment of quarterly dividends with effect from the financial year beginning 1 January 2016. Further details on the quarterly dividends are expected to be announced alongside the publication of the Company’s results ending 31 December 2015. […]

Murray Income says, over the 6 months ended 31 December 2015, the Company’s net asset value (“NAV”) per share fell by 1.0% on a total return basis outperforming the FTSE All-Share Index which fell by 2.0%. The Company’s share price ended the period at a discount to NAV of 8.0%, compared to 6.9% at 30 June […]

Armadale Capital has completed a feasibility study on the Phase 1 development of its 80%-owned Mpokoto project in the DRC’s Katanga Province. Phase 1 will focus on the oxide and transition ore down to a depth of about 40 m below surface. The feasibility study plans for a series of open pits to mine 10.4 […]

Hansteen Holdings has announced that it has acquired a further 5.5 million units in the Ashtenne Industrial Fund from clients of CBRE Investors for £2.5m cash, which reflects a price of 46.06p per unit. The company says that the acquisition represents 0.9% of the units in issue and increases Hansteen’s holding in the Ashtenne Industrial […]

HgCapital, the Manager of HgCapital Trust has announced that it has made a majority investment in Citation, which they describe as one of the UK’s leading providers of Health & Safety, HR, Employment Law and ISO services to SMEs. HgCapital will assume majority ownership from ECI Partners, investing alongside the existing management team. The terms […]

Alliance Trust has announced that Katherine Garrett-Cox (pictured) will stand down as chief executive of its management company, Alliance Trust Investments Limited (also a subsidiary of Alliance Trust ), and will be leaving the company on 11 March 2016. The company says that this follows discussions between the Board and Katherine about the future requirement […]

SEGRO plc says it has noted the recent media comment regarding a possible transaction with Roxhill Developments. SEGRO confirms that it is in discussions regarding a possible arrangement with Roxhill that, should it be agreed, will enable SEGRO to strengthen its presence in the UK big box logistics market. The arrangement would involve SEGRO and Roxhill working […]

City of London Investment Trust has published interim results covering the second half of 2015. Over this time the NAV total return was 1.5% which was slightly behind the average for the UK Equity Income Investment Trust sector (1.7%) but ahead of the UK Equity Income OEIC sector (0.8%) and the FTSE All- Share Index […]

BlackRock Throgmorton Trust beat its benchmark by more than 10% over the year that ended on 30 November 2015. The Company’s net asset value per share returned 23.2% compared with a return of 11.9% for the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index. Shareholders did even better – the share price return was […]

Alpha Real Trust announces it has entered into a purchase agreement to acquire the long leasehold interest in a central Scotland land development site.  Alpha Real Trust has entered into a 40 year, long leasehold interest with full planning consent and secure grid connection for the installation of a wood fired Combined Heat and Power (“CHP”) plant […]

Scottish American Investment Co has announced its results for the year to 31 December 2015. The net asset value total return (capital and income) for the year was 5.9%, ahead of the total return from equities of 4.1% (which, although it isn’t stated, is most probably the return on the MSCI World Index). The share price […]

Target Healthcare REIT has announced that it has exchanged contracts to acquire a 12-bed specialist care home in Bricket Wood, St Albans for approximately £2.3m (including acquisition costs). The transaction is expected to complete after the expiration of a “planning judicial review period” in March. Following this, Target is to acquire the care home, which […]

GCP Student Living has raised £19m in a placing of its shares and has used the proceeds to buy a student accommodation block in Bristol. The Placing was significantly oversubscribed  and the placing price was 135 pence. GCP Student Living has exchanged contracts to acquire Water Lane Apartments, a modern, private student accommodation residence located in a […]

MedicX Fund has announced that it has acquired a new primary healthcare centre, in Brynhyfryd, Swansea, by way of forward funding. The property is due to be completed in January 2017 and will be let to a GP practice, the Abertawe Bro Mogannwg University Health Board and a pharmacist. The company says that all leases […]

The Board of AEW UK REIT has announced the acquisition of a portfolio of three single-let industrial warehouses located in Basingstoke, Rotherham and St Helen’s comprising approximately 232,523 sq ft. The properties are fully let to Wella (UK) Holdings Ltd, Sapa Components UK Ltd and Kverneland Group UK Ltd respectively. The portfolio provides a WAULT of […]

Dunedin Enterprise Investment Trust has, through the Dunedin Buyout Fund III, committed £8.1m to an investment in Alpha Financial Markets. Dunedin Enterprise has an interest of 11.6% in Alpha. Alpha is the leading global asset and wealth management consulting firm.  Founded in London in 2003, Alpha has grown rapidly and is now the global market […]

JZ Capital Partners has sold six European investments for €96.3m. These investments are held through the EuroMicrocap Fund 2010, L.P. The transaction will be completed in two phases. Firstly, on February 1, 2016, JZCP sold its stake in the first five assets (Docout, Ombuds, One World Packaging, Toro Finance, and Xacom) for €75.2 million. Secondly, […]

Regional REIT Limited has announced that it has exchanged contracts to buy the “Rainbow Portfolio” for £80m from Northwood Investors. The portfolio produces a net yield of 8.2% at a capital rate of only £70 per sq.ft., well below replacement cost. The portfolio comprises 12 assets, five offices and seven industrial sites totalling 1.15m sq.ft. and […]

Apax Global Alpha has announced a proposed commitment to Apax IX and amendment and extension of its Revolving Credit Facility. Apax Global Alpha has agreed an amendment and restatement of the multicurrency revolving credit facility agreement with Lloyds Bank plc dated 30 January 2015. The Amended and Restated Revolving Credit Facility increases the funds available from […]

Randgold Resources increased its gold production by 6% in 2015, to 1.21 Moz, from 1.15 Moz in 2014. Earnings per share, at US$2.03, were nevertheless down 20% as the company received a gold price of US$1,153/oz, US$112/oz lower than the previous year. The company managed to reduce its average cash costs slightly to US$679/oz. The […]

Following an announcement on 18 November 2015, from Juridica Investments, that it would no longer make new investments and would be conducting a review of its cost structure, its board have now announced amendments to its fee structure and measures that the company says will reduce its fixed costs going forward. The board says that, […]

GLI Finance has announced that, following its previous announcement on 21 December 2015 regarding the development of a strategic relationship with the Somerston Group of companies, that it has agreed binding terms with Golf Investments (a newly formed special purpose vehicle that is part of the Somerston Group). Somerston will be providing finance to GLI […]

Artemis Alpha has announced that, following a quarterly review of the Company’s unquoted portfolio,  a number of adjustments have been made to the carrying valuations. These have resulted in an overall reduction of 2.1 per cent in the Company’s net asset value. The most significant reduction was to Starcount, where it was considered prudent to […]

Over the year to the end of October 2015 Henderson Opportunities returned 13.5%, way ahead of the 2.9% return posted by the FTSE All-Share Index, its benchmark. The discount widened to 10% from 3% and so the return to shareholders was 6.3%. The full year dividend was increased from 12.5p to 18p. Once again, 4D […]

Jupiter European Opportunities published its interim results on 4 February. Over the six months to the end of November 2015, the total return on net assets was 3.1%, well ahead of the -4.7% returned posted by the FTSE World Europe ex UK index. Demand for the company’s shares (£35m worth of new shares were issued […]

Further to the announcement on 15 December 2015, Alpha Pyrenees has announced that it has sold its properties located at Athis Mons, Aubergenville and Aubervilliers in France totalling approximately 59,730 square metres for EUR24.3 million. The purchaser is an investment vehicle managed by Colony Capital, Inc. (NYSE: CLNY), a global real estate and investment management […]

Alliance Trust Investments Limited has become the Investment Manager and Alternative Investment Fund Manager (“AIFM”) to Alliance Trust with effect from 3 February 2016 – so Alliance Trust has become externally managed (although Alliance Trust Investments is a subsidiary of Alliance Trust). Alliance Trust Investments has also replaced The Bank of New York Mellon, London Branch (“BNYM”) as […]