Masawara to delist as main shareholder passes 90% mark – On 27 December 2017, Oxford Holdings Limited acquired 50,760,456 ordinary shares at 30p per share, with 20p payable immediately and 10p to be paid within 12 months. The current principal shareholder of the Company is FMI Holdings (Private) Limited, which holds 61,163,618 shares. Mr Shingai […]
Key guidance expected for biotech trust favourite Biogen Biogen, the neurology-focused US biotech giant and a key holding for several of the UK’s sector specialist investment trusts, will provide a closely-watched update for investors at next week’s JP Morgan Healthcare conference that could be critical to its 2018 outlook. Biogen’s CEO will present at the conference, […]
Tritax buys Unilever distribution centre – Tritax Big Box REIT has acquired a national distribution facility at Hickling Road in Cannock, Staffordshire, which is operated and let to Unilever UK Ltd, one of the world’s leading suppliers of Food, Home and Personal Care products. The total consideration is GBP44.25 million (excluding purchaser’s costs). The property […]
Victory Park sells Prosper loans – In line with the previously stated strategy of reallocating capital from marketplace lending to balance sheet lending, Victory Park Speciality Lending has announced that it has sold its Prosper marketplace loans. The loans sold represented approximately 4.1% of the fund’s NAV as at 31 October 2017, reducing its marketplace […]
Strategic Equity Capital manager changes hands – The senior management of London-based specialist fund manager GVQ Investment Management Limited (“GVQ”) have entered into an agreement to acquire 100% of GVQ from RIT Capital Partners plc (“RIT”), subject to regulatory approval. GVQ currently manages GBP700 million of assets through two Irish listed open-ended funds, the GVQ UK […]
3i Infrastructure tops up WIG investment – 3i Infrastructure has agreed to increase its investment in Wireless Infrastructure Group (“WIG”) and to acquire the stake owned by Barings LLC’s client accounts. The expected investment by 3i Infrastructure is GBP186m which will take 3i Infrastructure’s ownership of WIG to 91% of the equity with the balance […]
MedicX invests in Kilkenny – MedicX has announced its fifth acquisition in Ireland. The new member of the portfolio, Ayrfield Medical Park in Kilkenny, is a standing investment and has been purchased by way of a sale and leaseback to the doctors who developed the centre in 2011. In addition to the large GP practice, the […]
3i Infrastructure refinances ESVAGT – 3i Infrastructure plc has successfully completed a EUR 376 million refinancing of ESVAGT. The refinancing comprises bank and institutional tranches with a spread of maturities of up to 10 years, as well as associated capex and revolving credit facilities. In conjunction with the refinancing, 3i Infrastructure and its ESVAGT co-shareholder, AMP Capital, […]
Baillie Gifford co-leads $110m financing deal for gene therapy developer Orchard Therapeutics Edinburgh-based fund manager Baillie Gifford is continuing its foray into biotech investing, by co-leading a large $110m (£85m) Series B venture deal for Orchard Therapeutics, a Anglo-US company working on gene therapies for rare disorders. The specific Baillie Gifford-managed funds that have provided the […]
Prothena drag on Woodford Patient Capital A 45% fall in the value of its large shareholding in Prothena since the end of the third quarter seems to have been the main factor behind a decline in the value of Woodford Patient Capital Trust (WPCT) over the same period, according to the trust’s latest monthly update. WPCT’s shares have […]
Post IPO fall for Nightstar hits Syncona A fall in the post IPO share price of Nasdaq-listed, UK-based gene therapy specialist Nightstar Therapeutics marred an otherwise strong performance for UK biotech investment trust Syncona (SYNC) in November, whose NAV dipped by 4% in the month, according to its latest monthly update. Syncona’s 42% ownership of Nightstar […]
LXB Retail Properties sells its investments in Stafford – LXB Retail Properties has exchanged contracts for the disposal of its two remaining investments at Stafford. It is also updating on further lettings at Rushden Lakes and Sutton. On 21 December 2017, the Group exchanged contracts for the sale of its retail investment at Riverside, Stafford to […]
Dunedin Enterprise gets cash for Innova – Dunedin Enterprise Investment Trust has announced the realisation of its investment in Innova/5 LP, the private equity fund based in Warsaw which makes investments in Central Eastern Europe. This follows on from the recent realisations of Kee Safety, Alpha FMC and Blackrock PM. The holding in Innova was […]
Dunedin Smaller Companies posts strong outperformance – Dunedin Smaller Companies says that, for the year ended 31 October 2017, its net asset value total return was 32.8%, a significant outperformance of the benchmark, the SmallCap Index (ex Investment Companies), which delivered a total return of 21.9%. The share price total return for the year was 28.8%. The discount at […]
Ground Rents Income comments on lease rule changes – Ground Rents Income Fund has released a statement this morning saying that it notes the statement made yesterday by Communities Secretary, Sajid Javid, regarding the leasehold system, the proposed future level of ground rents in England and the release of the Department for Communities and Local […]
Phoenix Spree Deutschland sells 34 properties – Phoenix Spree Deutschland has exchanged contracts to sell a portfolio of 34 properties located in Central and Northern Germany for an aggregate cash consideration of EUR73.0m. On completion of the disposal, and including further acquisitions and disposals notarised since 30 June 2017, Berlin is expected to represent over 99% […]
Warehouse REIT has announced that it has exchanged contracts to acquire a portfolio of seven industrial assets, in the North West of England, for £18.25m. The transaction is expected to complete today (21 December 2017) and the purchase price reflects a net initial yield of 7%. The acquired portfolio The acquisition brings the Company’s assets […]
Dromadda More Wind Farm acquired for €88.4m Greencoat Renewables, which listed on the AIM segment of the London Stock Exchange on 25 July 2017, has announced that it has acquired the 36MW Dromadda More wind farm, from Impax Asset Management, for an all in cost of €88.4m. Dromadda More is Greencoat Renewables first acquisition since […]
BlackRock Income and Growth says stock selection aided performance – BlackRock Income and Growth Investment Trust has published its annual report for the year ended 31 October 2017. During the year the NAV returned 13.8% and the share price returned 14.8%. By comparison, the benchmark, the All-Share Index, returned 13.4%. The board has declared total dividends for the year of […]
Ecofin Global Utilities and Infrastructure off to a good start – Ecofin Global Utilities and Infrastructure Trust has published annual results. The company’s shares were first listed on the London Stock Exchange on 26 September, 2016 and these results are for the financial year which ended on 30 September, 2017. In that period, the net asset […]
Polar Capital Global Healthcare reflects on year of transition – Polar Capital Global Healthcare, announcing its results for the year ended 30 September 2017, says that its NAV total return for the year amounted to 0.6% compared to a rise in the benchmark (the MSCI Global Healthcare Index) of 8.6%. Meanwhile their share price total […]
VinaLand sells Trinity Garden – VinaLand Limited has divested its entire stake in the Trinity Garden project. The project, located in Ho Chi Minh City, Vietnam and acquired by VinaLand in 2007, is a 13.7-hectare parcel of land designated for a future development. VinaLand will divest its entire stake in the project to Ms. Tran […]
Taliesin Property Fund gets cash bid – The boards of directors of Taliesin Property Fund Limited and Wren Bidco Limited and Canary Bidco Limited (companies owned by entities advised by affiliates of The Blackstone Group LP) have announced that they have reached agreement on the terms and conditions of a recommended all cash acquisition of the entire issued […]
Schroder UK Mid Cap discount stubbornly wide – Schroder UK Mid Cap Fund says that, for the year ended 30 September 2017, its net asset value total return of 21.0% outperformed the benchmark by 6.8%. The dividend for the year is 13.10 pence per share, an increase of 16.4%. Talking about the discount, the chairman said “It […]
Supermarket Income REIT buys Cumbernauld Tesco – Supermarket Income REIT has acquired a Tesco Extra supermarket in the North Lanarkshire town of Cumbernauld, Scotland, from Legal and General for GBP50 million (net of acquisition costs), reflecting a net initial yield of 5.5% after the next agreed RPI-linked rent review in March 2018. The 9.5-acre site […]
JPMorgan fund manager passes away – The board of JPMorgan Income & Capital Trust plc has announced that it is sad to announce the passing of Sarah Emly, co-manager of the fund. They say “She battled with ill health these past few years with a courage, humour and determination that was truly inspirational. The company’s portfolio continues […]
Shaftesbury expands in Seven Dials area – Shaftesbury PLC, which already owns a 14.9 acre property portfolio in London’s West End, has announced that it has acquired six buildings on Neal Street, Seven Dials, for a total consideration of GBP24.6 million, inclusive of acquisition costs. Located on the northern end of Neal Street, between Short’s Gardens and […]
Civitas Social Housing acquires 61 properties – The board of Civitas Social Housing says it has completed the acquisition of 57 properties, comprising 405 tenancies or places, for a total consideration of GBP116.6 million. The company has also exchanged contracts (with completion expected shortly) for the acquisition of 4 properties, comprising 22 tenancies for a […]
Custodian REIT buys car dealership – Custodian REIT has announced a further property purchase. The company has acquired a 24,845 sq ft car dealership on Pride Park business park in Derby, two miles from the city centre and prominently located on the busy A6. Nearby occupiers include Rolls Royce, Volkswagen, Lexus, Mercedes-Benz, Land Rover, and Ford. […]
