News

Tritax Big Box REIT  has announced that it has exchanged conditional contracts to acquire the land and provide forward funding for the development of a new distribution warehouse facility, pre-let in its entirety to Howden Joinery Group Plc, the parent group of the UK’s leading supplier of kitchens and joinery. The investment price is £67m, […]

Redefine International has announced that it has reached a conditional agreement with the Aegon UK Property Fund to acquire the AUK Portfolio through its wholly-owned subsidiary, Redefine AUK, for an aggregate consideration of £437.2m (£455.7m after costs). This acquisition is conditional upon shareholder approval, for which an EGM will be convened on 25 September 2015.  The Company […]

GCP Student Living is expanding its management team with the appointment of Nick Barker, former Head of Alternatives, Property at Schroder Property Investment Management.  Previous to this he was Assistant fund manager for Schroder UK Property Fund (SPF), based in London.  He joined Schroders in September 2007 following 3 years with Cushman & Wakefield Investors, […]

Condor Gold has initiated a formal strategic review of its business in the light of the relatively low gold price and the lack of appetite for equity financing in the junior exploration sector. The company is a gold explorer which has developed the high grade La India project, in Nicaragua, through to the Pre-Feasibility Study […]

Ludgate Environmental has published results for the year ended 30 June 2015. Its net asset value fell from 66.5p to 60.6p over the period. At an EGM on 1st September 2014 shareholders voted to extend the life of LEF to 30th June 2018 with the expectation that the portfolio would be mostly sold by mid […]

Duke Royalty and Oliver Wyman have announced an exclusive pharmaceutical and healthcare royalty financing collaboration. Oliver Wyman is a management consultancy wholly owned by Marsh & McLennan Companies. Duke Royalty will be responsible for capital raising, the structuring of definitive agreements and the acquisition of each royalty interest originating from the collaboration. Duke Royalty believes […]

Ediston Property Investment Company has acquired three leisure properties for £10m (net of acquisition costs), reflecting a net initial yield of 8.60%.  The acquisition was funded from existing cash resources. The properties comprise two units in Liverpool and Hartlepool, which are let to Mecca Bingo, and a third unit in Telford, part of the Southwater […]

Weiss Korea reports an increase in its NAV from 120.4p to 125.27p over the first half of 2015. Including dividends, the Company’s NAV increased by 5.4%, outperforming the reference MSCI Korea 25/50 Capped Index, which returned -0.03%. They paid a dividend of 1.858p during the period. There is no performance attribution information in the announcement. […]

JZ Capital has announced  an open offer and placing to raise $150m and a rollover offer of new 2022 ZDPs to replace their existing 2016 ZDPs. The new share capital is being issued on a 9 new shares for every 25 held basis at 419.19p, a 39.7% discount. If shareholders don’t take up shares under the […]

Vinaland has sold its stake in the company that owns the HAS Project located in the central region of Quang Nam Province, Vietnam to Gold Yield Enterprises Limited, an entity of Chow Tai Fook, who will inject both equity and expertise into developing and operating the large scale hospitality and entertainment development. Since Genting’s withdrawal […]

Treveria has sold its two wholly owned subsidiaries – Treveria Asset Management Limited and Treveria Holdings Limited – to Haflinger Invest Limited and Phylira NV. Haflinger is a company owned by a group of investors, among them Richmond Invest GmbH and Richmond Invest BV, in which David Malpica, a director of the Company, holds a beneficial interest. […]

Ariana Resources has commenced construction of its Kiziltepe gold mine, part of the 70%-owned Red Rabbit project, in western Turkey. When fully operational in H2 2016, the US$31 million open pit mine is expected to produce 20 koz/y of gold for 15 years at an average cash cost of US$600/oz. The pit contains 140 koz […]

CEB Resources has announced that it has agreed with PT Akar Golindo (PTAG) to assess the technical and commercial opportunities for monetising gas in and around the Tuba Obi East oil and gas concession in the South Sumatran Basin. Under the terms of the agreement CEB and PTAG will undertake a technical evaluation of the gas […]

JZ Capital Partners says it has committed €75m to JZI Fund III, the successor fund to its EuroMicrocap 2010 fund. In total the new fund raised €237m, €25m of which came from David Zalaznick and Jay Jordan, along with the European management team. JZI Fund III will invest principally in lower middle market companies in Western Europe, focusing on […]

International Public Partnerships (INPP) says a consortium that it is a member of has won the right to design, build, finance and maintain 15 schools across 12 sites in Victoria, Australia. The Learning Communities Victoria Consortium is sponsored by Amber Infrastructure and other consortium members include:  Watpac Construction: Design-Builder; Spotless: Facilities Manager. Spotless also provides facilities management services […]

  Wolf Minerals has produced the first tungsten concentrates at its new Drakelands open pit mine at the Hemerdon project, in Devon. The concentrates will be sent to Global Tungsten and Powders, in the USA, and Wolfram Bergbau und Hütten, in Austria in terms of Wolf’s offtake agreement. Although this is a major milestone in […]

Standard Life UK Smaller Companies Trust, managed by Harry Nimmo (pictured), has announced its results for the year ended 30 June 2015 during which, the Company’s diluted net asset value total return was 14.2%, beating a total return of 10.4% for the Company’s benchmark. The manager describes the year as being characterised by steady if […]

Sequoia Economic Infrastructure Income Fund  has confirmed its intention to raise up to £200m in new capital through a c-share issue. The issue is expected to complete in or around late October 2015 and further details of the transaction, including the availability of a pre-emptive offer in respect of a significant part of the fund […]

Picton Property Income has announced the acquisition of 180 West George Street, a multi-let office investment in Glasgow (pictured), for £14.25m. The acquisition reflects a net initial yield of 7.8%. The property, which was constructed in 2000, provides 52,100 sq ft of office accommodation over basement, ground and six upper floors and is located in the heart […]

Electra Private Equity has announced the proposed merger, subject to regulatory approval, of its Park Resorts Group (Park Resorts, South Lakeland Parks and Southview and Manor Park) with Parkdean Holidays creating a nationwide operator with 73 sites. The transaction gives the enlarged company an enterprise value of £960m and combined EBITDA in excess of £100m. […]

John Laing Infrastructure has reported a 1.4% fall in its NAV for the first half of 2015 to 107.8p which is almost entirely down to adverse exchange rate movements although they also mention below forecast inflation in the UK cost them about 0.4%. They paid a dividend of 3.375p (up 3.8% on the previous dividend) and the NAV […]

The Renewables Infrastructure Group delivered a 10.9% return to shareholders over the first half of 2015, including a dividend of 3.08p which they say was well covered by cash earnings. This results in a dividend target of 6.19p in aggregate per share in respect of the year to 31 December 2015. Looking further ahead, the […]

At an EGM on 27 August shareholders approved Harbourvest Global Private Equity’s move to the main market of the LSE. Oddly, the fairly standard proposal that the company be allowed to issue new shares, although worded in an unusual way, was rejected by shareholders and the Board say they are going to tlk to dissenting […]

During the first half of 2015 DW Catalyst Fund’s NAV increased by 1.2% and 1.1% in the GBP and USD share classes, respectively. Over the same period the share prices of the GBP and USD share classes declined 2.2% and 2.4%, respectively. They say the largest positive contributors for the first half of the year were within Commercial […]

During the six month period ended 30 June 2015 Carador Income Fund generated a total net asset value return of 4.58% including distributions. The Company started the year with a NAV per US Dollar share of US$0.8993 and ended the first half at US$0.8891, a -1.13% decline in the NAV per share, although the Company also […]

Over the first half of 2015 Acorn Income Fund generated a return on its gross assets of 11.9% – marginally ahead of the 11.8% return posted by the Numis Smaller Companies Index (ex investment companies). Thanks to the gearing effect of the zeros, the total NAV return on the ordinary shares was 16.3%. The return […]

Standard Life Investments Property Income Trust reports that its NAV return for the first six months of 2015 was 6.6% and its share price rose by 7% to give a return to shareholders of 10.0%. On an EPRA basis the NAV rise was 3.4%. The total return on the portfolio was 5.8%. This figure was behind the […]

Over H1 2015 BBGI delivered an increase in NAV to 110.4p from 109.2p an increase of 1.07%. The Board has increased its 2015 dividend target from 5.76p to 6.00p which represents an increase of 4.2%. The 2015 interim dividend is 3p. At 30 June 2015 the Group had a total cash balance of £51m and total borrowings of £45m. Within the portfolio they […]

A quick summary of interim results for periods ended 30 June 2015 announced on 28 August 2015 Aberdeen Smaller Companies High Income NAV total return 15.8%, share price total return 21.8%. Well ahead of FTSE Small Cap Index ex Investment Companies return of 11.9%. Outperformance helped by bids for Domino Printing and Anite Candover NAV […]

F&C Private Equity’s NAV total return for the six months ended 30 June 2015 was 2.7% and its share price total return was 1.6%. The interim dividend is 5.58p per Ordinary Share. Currency took 2.3% off the NAV. The largest realisation, of £8.6m, was the sale of the co-investment in SMD Hydrovision, to Chinese buyer ZhouZou CSR. […]