John Laing Environmental Assets has announced the acquisition of a 4.2 MWp solar energy generation portfolio for £18.8m. The portfolio comprises 796 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations, distributed across England, Wales and Scotland. The portfolio benefits from the UK feed-in tariff for 25 years from the date […]
Seneca Global Income & Growth Trust, managed by Alan Borrows and Simon Callow (pictured), has announced that it has put in place a two year short term rolling debt facility of £7m. The new facility replaces the two year short term rolling debt facility which expired on 31 October 2015. The margin on the new facility is […]
Assura has announced the acquisition of Abbey Healthcare Group Limited and Abbey Healthcare Property Investments Limited from its former shareholders Peter Archer and Gina Archer. As part of the consideration, payable under the terms of the acquisition, Assura has agreed to issue to the Sellers 2,229,072 ordinary shares to the sellers. Based on the closing […]
According to its latest quarter report, after spending almost A$12 million in the September quarter in commissioning its Drakelands open pit mine at the Hemerdon tungsten/tin project, in Devon, Wolf Minerals reports that it has fully drawn down the £75 million senior debt finance. Drakelands is the first new metal mine to be built in the […]
Treveria sold off its old property portfolio and gave cash back to shareholders but the listed company is still around and is being transformed into something else – it looks as though this will have something to do with the resources sector. Treveria has appointed Allenby Capital and Peterhouse Corporate Finance as joint-brokers. Peterhouse Corporate Finance has […]
The Board of Baillie Gifford Shin Nippon has announced that Baillie Gifford, the Company’s Investment Manager, will appoint Praveen Kumar as portfolio manager of Baillie Gifford Shin Nippon PLC with effect from 1 December 2015. After eight years as portfolio manager of Baillie Gifford Shin Nippon, John MacDougall will take up another role within the […]
Manchester & London has published results for the year ended 31 July 2015. These show that the fund just outperformed its benchmark, the Dow Jones U.K. Total Stock Market Total Return Index, returning 5.0% on net assets vs. 4.8% for the index. The Directors are proposing a final ordinary dividend per share of 1.70p and […]
Aurora Investment Trust has published a half year report covering the six months ended 31 August 2015. The FTSE ALL-Share index declined by 8.3%, whereas the FTSE100 Index, on account of its high exposure to oils and commodities, fell by 10.0%. In comparison the Net Asset Value of the portfolio reduced by 5.7%. Management of […]
The Cayenne Trust has published its reconstruction / winding up proposals – fleshing out the ideas announced in mid-September. Under the Proposals, shareholders are entitled to roll over their investment in the Company into F&C Managed Portfolio Trust choosing either the Income portfolio, Growth portfolio or both. The other option is to elect for cash […]
Having successfully implement its investment policy in accordance with Rule 15 of the AIM rules, Kuala Innovations has fully invested all the money it had available. The Directors have proposed that the Company change its name to Fast Forward Innovations Limited (subject to shareholder approval) seemingly calling itself after Jim Mellon’s book “Fast Forward”. KUL […]
Scottish Oriental Smaller Companies has published results for the year ended 31 August 2015. Over that period it outperformed the MSCI AC Asia ex Japan Index and MSCI AC Asia ex Japan Small Cap Index, returning -8.4% against -9.1% and -9.4% for the indices respectively. The dividend was maintained at 11.5p – the Board say it […]
Kennedy Wilson Europe Real Estate has conditionally acquired a portfolio of nine offices in Italy fully let to the Italian government. The portfolio is being acquired from InvestiRE SGR, as the management company of the closed-end mutual property investment fund known as Fondo Immobili Pubblici (“FIP”). The portfolio net purchase price is EUR185.5 million, reflecting […]
Dunedin Income Growth Investment Trust has agreed to issue £30m of 30 year Senior Secured Fixed Rate notes at a coupon of 3.99%, subject to final documentation being entered into. The purpose of this transaction is to obtain fixed rate long dated Sterling denominated financing at a price that the Company considers attractive. The Company […]
Physical gold demand was up 7% in Q3 from a year ago according to the latest report on the gold market by GFMS. In its just-published Q3 Gold Survey, the consultancy group reports that the increase was because of an increase in net official sector buying and a marked improvement in the level of retail […]
Aberdeen Asian Smaller Companies has announced results for the year ended 31 July 2015. The net asset value total return for the period was -4.7%. This compares poorly to a fall in the MSCI AC Asia Pacific ex Japan Index of -1.2% and the MSCI AC Asia Pacific ex Japan Small Cap Index’s return of -0.8%. For […]
Over the six months to the end of August 2015 BlackRock Smaller Companies’ net asset value increased by 9.0% to 1039.98p per share, outperforming its benchmark (the Numis Smaller Companies plus AIM (excluding Investment Companies) Index) by 6.6%. The Company’s share price increased by 14.0% to 925.5p per share over the same period. The FTSE […]
BBGI is a 50% equity investor in the consortium that will design, build, finance, operate and maintain the infrastructure for a period of 30 years. The North Commuter Parkway Project involves the replacement of the 107-year-old Traffic Bridge in Saskatoon’s downtown core as well as the development of a new six-lane bridge crossing the South […]
Over the six months ended 31 August 2015, Thai equities dropped sharply. The SET Index fell by 19.2% on a sterling-adjusted basis. Aberdeen New Thai’s net asset value was similarly affected, falling 20.0% while the share price declined by 20.4% on a total return basis, to reach 357.6p. The baht’s depreciation against the pound during the period amplified […]
JPMorgan Private Equity has announced that the it is in discussions to potentially transfer the existing investment management contract from JPMorgan Asset Management to an affiliate of Fortress Investment Group LLC. As part of the deal, JPEL’s Board understands that the investment management team that has been responsible for managing the fund since its inception in 2005 (led […]
Caledonia Investments has agreed terms to acquire Gala Bingo Holdings Limited (“Gala Bingo”), the UK’s largest retail bingo operator, from Gala Coral Group Limited (“Gala Coral”) in a transaction which values the business at £241m. Led by Chief Executive Officer, Simon Wykes, and Chief Finance Officer, Alex Wood, Gala Bingo has a 38% share of […]
City Natural Resources’ investment manager, CQS (UK) LLP, has informed the Board that Will Smith, co-manager of the Company’s investments, will be leaving CQS/New City Investment Managers. Will’s co-management responsibilities have been passed to Keith Watson and Robert Crayfourd with immediate effect. Accordingly, the Company’s investments will be co-managed by Ian Francis, Keith Watson and Robert […]
Electra has announced results for the year ended 30 September 2015 (which is a pretty fast turnaround!). The total return on net assets was and the return to shareholders were both 25%. The equivalent figures for the Morningstar private equity index were 10% and 13% and for the FTSE All-Share Index -2%. The dividend for […]
Randgold Resources’ Tongon gold mine has paid off its shareholders’ loans of US$448 million, used to partially fund the US$580 million capital investment in building the mine five years ago. The Tongon mine is located within the Nielle exploration permit in the north of Côte d’lvoire, 55 km south of the border with Mali. Randgold […]
Electra Private Equity has announced that it intends to exercise the mandatory conversion option in its 5 per cent. Subordinated Convertible Bonds due 2017. The exercise of such option will automatically and mandatorily convert all of the outstanding Bonds into new ordinary shares of Electra. Electra expects to deliver a notice to holders of the […]
HgCapital Trust has announced the sale of a minority interest in JLA to a group of institutional investors. JLA is a leading UK provider of business-critical asset maintenance services to SMEs. After the deal, finds managed by HgCapital will retain c. 62% of JLA’s equity. In addition to the sale of a minority equity interest, […]
Vast Resources plc plans to double the plant capacity at its 50.1%-owned Manaila mine, in Romania, to 2.4 Mt/y by re-commissioning a second mill. The cost of the second mill is estimated at US$0.2 million. The open pit mine commenced production in July this year. As part of its plans for Phase 1 of the […]
JPMorgan Global Convertibles has published results for the year ended 30 June 2015. The total return on the Company’s net assets was -1.0% and the return to shareholders was -4.8%. Three quarterly dividends totalling 3.375 pence per share were declared and paid during the year. Whilst income after expenses fell by 6.2% in the year, […]
Fidelity Asian Values, got a new manager in the shape of Nitin Bajaj, a new benchmark – the MSCI All Countries Asia ex Japan Index, will use treasury shares for the first time, has cut its fees and is proposing changes to its investment policy. The proposed changes would extend the ways in which derivatives can […]
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