On 29 November 2016, Acorn Income Fund’s (AIF’s) Board announced proposals including the extension of the life of the existing ZDP Shares to 28 February 2022; a Continuation Offer to ZDP Shareholders whereby such holders were given an opportunity to either receive their 2017 Final Capital Entitlement in cash on 31 January 2017 or to […]
Empiric Student Property (Empiric) has announced that it has acquired the freehold of a 220 bed student accommodation scheme, Foss Studios, in York for £23.3m (excluding costs). Empiric says that Foss Studios was completed for the 2015/16 academic year and comprises 220 large, well specified, studio rooms across three purpose built buildings. The scheme is […]
Standard Life Investments Property Income Trust has announced that it has completed the sale of The Quadrangle, in Cheltenham, for £11.075m. The Quadrangle is a 1970s office block that extends to approximately 58,900sqft. The Trust acquired The Quadrangle in Dec 2015 as part of the Pearl portfolio for £10.05m including costs. The property was single […]
Mariana Resources (MARL:AIM) (MARL:TSX-V) Mariana announces a positive preliminary economic assessment (PEA) for the Hot Maden underground mining project, 30% owned with Tukish partner Lidya who owns 70%. Post-tax NPV US$1.37 billion. Post-tax IRR for the base case mining 153% excluding acquisition costs. Total metal production of 2.6 million ounces of gold and 142,000 of copper over […]
Picton Property Income has announced that it has disposed of two small, non-core retail assets in Bath for a total of £3.23m. The sale price reflects an aggregate net initial yield of 4.7% and a 29% premium to the 30 September external valuation. The company says that the disposals of 2 Bath Street and 6 […]
Symphony International Holdings has announced the implementation of an ongoing buyback programme starting today. The company says that its shares continue to trade at a significant discount (approximately 32% to latest published NAV). However, it says that ‘nvestments in listed securities and cash cover the share price by 1.04 times. As such, it says that […]
GCP Asset Backed Income (GABI) has announce it has agreed enterred into a two year £15m revolving credit facility with the Royal Bank of Scotland International Limited. GABI has also announced a £3.1m extension to the £10.8m social infrastructure loan facility announced on 23 December 2016. The revised £13.9m facility, which GABI says will be […]
Chelverton Small Companies Dividend Trust has announced that its board has been considering the options for a refinancing of the Zero Dividend Preference shares, which are due for repayment on 8 January 2018. The Board says that it believes that, given the current economic environment, a ZDP refinancing could be achieved at an attractive interest […]
Following its strategic review, Alliance Trust announced, on 15 December 2016, proposals under which its equity portfolio would move from being run using a single manager to a multi-manager approach. The trust has now announced further details of the proposed equity managers and says that a general meeting to approve these changes is to be […]
Amedeo Air Four Plus has announced that it has raised £130m from the second placing under its current placing programme. Under the ‘new placing’, which was oversubscribed, 125,000,000 new ordinary shares are being issued at an issue price of 104 pence per new share. Amedeo Air Four Plus to purchase two new A380s The company […]
Vietnam Infrastructure (VNI) has announced that it has received its first payment of US$47.5m in cash, pursuant to the sale and purchase agreement to transfer 100% of VNI’s holding in Southeast Asia Telecommunications Holdings Pte. Ltd. (SEATH) to OCK Vietnam Towers Pte. Ltd (OCK). VNI says that it expects to receive its second and final […]
HICL Infrastructure has announced that it intends to proceed with a placing, open offer and offer for subscription of ordinary shares during the first quarter of 2017. The company says that it currently has a funding surplus of around £6m, but also has commitments of approximately £200m in aggregate in respect of conditional acquisitions which […]
Custodian REIT has announced that it has acquired a block of six retail properties and two restaurants in Shrewsbury town centre. The properties are occupied by Paperchase, Holland & Barrett, Azzuri Restaurants (t/a ASK), Edinburgh Woollen Mill, Thomas Cook, Greggs, Sam’s Club (t/a House of the Rising Sun), Whittards and William Hill. The company says […]
Tharisa plc (THS:LSE) The company reported solid production results for Q1 2017, period ended 31 December 2016. Produced 34.8 koz of PGM and 322.2 kt of chrome concentrate in the quarter, compared to 24 koz of PGMS’s and 272.1 kt of chrome in the same quarter 2015. Out of the chrome production 77.1 kt was […]
Candover Investments has announced that it has realised its remaining investment in Technogym S.p.A, which is managed by Arle Capital Partners Limited, for cash proceeds of approximately €9.5m (£8.3m). Candover says that this realisation follows the partial realisation completed at the time of the initial public offering of Technogym in April 2016 and that this […]
ICG-Longbow UK Senior Secured UK Property Debt Investments (ICG-Longbow) has announced proposals proposals for a change in investment objective and policy, a placing programme for 40m shares and the continuation vote. The company says that, over the coming 24 months, the majority of its current loans become due for repayment and, given the material changes […]
The independent directors of Prospect Japan Fund today announce that they are in preliminary discussions in respect of a possible offer by Prospect for the entire issued and to be issued share capital of Prospect Japan Fund (the “Possible Offer”). The independent directors of Prospect Japan Fund, who have received financial advice from Stockdale Securities Limited, consider […]
Hummingbird Resources reports that in Q4 16 it started construction of the Yanfolila gold mine, in Mali. The US$70 million mine is expected to begin production at the end of 2017 and is projected to produce an average of 107koz/y of gold at a low AISC of US$700/oz. In October 2016, the first concrete […]
Caledonia Mining (CMCL:AIM) (CAL:TSX) The company produced approximately 13,591 oz of gold in Q4 2016 from its 49% owned subsidiary, the Blanket Gold Mine in Zimbabwe. Production represented an 18% increase over Q4 2015 and a 1.2% increase over Q3, 2016. Full year production was approximately 50,351 oz of gold, which set a new record, […]
Alpha Real Trust has announced that it has written to shareholders of Industrial Multi-Property Trust. The letter follows the publication of second Industrial Multi Property Trust (IMPT) EGM circular. Rather than cut and paste, we are including the text of the letter below. Dear fellow shareholder in IMPT, We write to you in response […]
HarbourVest Global Private Equity (HVPE), has announced that it has renewed its existing $500m multi-currency credit facility with Lloyds Bank plc and Credit Suisse AG. HVPE says that Lloyds Bank has maintained its $300m commitment, with Credit Suisse AG continuing to commit $200m. The Facility, which retains similar covenants, has been extended to December 2020. […]
Safestore Holdings (Safestore) has announced its annual results for the year ended 31 October 2016, which it describes as being, “A third consecutive year of double-digit EPS growth”. During the period, Group like-for-like revenue was up 10.0%, or 8.1% at constant exchange rates (CER), with the UK up 9.2% and Paris up 5.0%. Underlying EBITDA […]
Taung Gold International Limited has agreed to acquire an effective 21% interest in a copper-gold exploration licence, in Pakistan, for a total consideration of HK$146 million (US$18.8 million). The exploration licence comprises three ore bodies, South Borgar, East Borgar and North Koh-e-Daleel, which lie approximately 68km North-West of Nok Kundi town in the Chagai district […]
Toachi Mining (TIM:TSX-V) The company reported results from its on-going drill program at La Plata, a gold-rich volcanogenic massive sulphide (“VMS”) project in Ecuador. A first phase metallurgical optimisation programme has also been initiated. Hole CMLP-16-14: [email protected] g/t Au, 49.74g/t Ag, 2.40% Cu, 11.82%Zn an 0.97%Pb from 135.57m. Included within this zone is a higher grading […]
Polo Resources will send a Circular to adopt a new investing policy in accordance with AIM Rule 8 and a Revised Share Options Plan. The Company became an investing company under AIM Rules in July 2010 to invest in the resource and energy sectors. Whilst the Board is seeing improvements in market sentiment across the natural resources […]
Candover Investments has announced a partial realisation of its investment in Parques Reunidos (Parques). This realisation follows a first partial realisation, completed at the time of the initial public offering of Parques, in April 2016. Candover says that it has disposed of 26% of its interest in Parques for cash proceeds of approximately €9.9m (£8.4m) […]
ICG Enterprise Trust has announced the sale of its investment in Micheldever Group Ltd (Micheldever), reportedly the second largest distributor of tyres to independent retailers in the UK, to Sumitomo Rubber Industries. ICG Enterprise held Micheldever directly and through Graphite Capital Partners VI (Graphite VI). Combined, Micheldever was ICG Enterprises’s largest underlying investment at 31 […]
Highbridge Multi-Strategy Fund has announced that, noting the reduction in the discount of the share price to NAV over the subsequent three months and also the recent stability of the discount at around 5%, the fund’s Board has canvassed the views of a number of larger Shareholders, a majority of whom have indicated that they […]
Adamas Finance Asia (ADAM) has announced that it has agreed terms for the sale of its indirect 15% interest in the Tian Tong Shan Villa Project (the TTS Project), a resort development in Fujian Province, China for a total consideration of up to RMB 113.58m (approximately US$16.4m). The arrangements appear to be somewhat complicated and […]
JPMorgan Russian Securities has announced that, following consultation with the Company’s large shareholders and its advisers, it plans to introduce, subject to shareholders approving a resolution in favour of the Company’s continuation as an investment trust at the Company’s AGM on 7 March 2017, a measure that places an obligation on the Board to make […]
