McKay Securities has announced its full-year results for the year ended 31 March 2017. The company describes the year as being one of, “Strong performance, delivering record rental income and portfolio value”. The company’s summary of the year’s highlights are as follows: Financial Highlights Adjusted profit before tax up 8.3% to £8.60 million (31 March […]
John Laing Environmental Assets (JLEN) has announced that, further to the acquisition of the Moel Moelogan 2 wind farm (made of the on 20 April 2017), it has made a follow-on acquisition of the Moel Moelogan 1 wind farm (pictured) for a total cash consideration of £3.0m, including working capital and the repayment of a […]
Northern Investors is proposing to return a further £6.4 million to Shareholders, representing 257.5 pence for each Ordinary Share currently in issue, utilising the B Share Scheme that was approved by Shareholders on 19 January 2017. The company says that, under its proposals, Shareholders will receive 5.15 B Shares for each Ordinary Share held by […]
RM Secured Direct Lending (RMDL), which listed on the London Stock Exchange on 15 December 2016, has announced the results of its recent placing. The company says that it has received commitments from investors subscribing for a total of £7.1 million (before costs and expenses) via the Placing and that, accordingly, an aggregate of 7,000,000 […]
As per its announcement on 27 April 2017, Aberforth Geared Income Trust (AGIT) has reached agreement with Aberforth Split Level Income Trust plc (ASLIT) on the terms of the reconstruction and winding up of AGIT, under which ASLIT will act as a rollover option for investors in AGIT. AGIT has published a circular in respect […]
North Atlantic Smaller Companies (NAS) has announced its annual results for the year ended 31 January 2017. During the period under review, the fully diluted net asset value per share rose by 8.1% to an all time high of 2,968p. This is markedly below the rise in the sterling adjusted Standard & Poor’s Composite Index, […]
Civitas Social Housing (CSH) has announced that it has completed the purchase of a portfolio of regulated social housing for a total consideration of £6.0 million, comprising the freehold interest in supported living properties, with 52 tenancies, in North East England. The acquisition was funded using the company’s existing cash resources. CSH says that the […]
HICL Infrastructure has announced that it has completed the acquisition of a 36.6% equity interest in the various entities that comprise the Affinity Water Group, including the regulated entity, Affinity Water Limited. HICL is part of a consortium, alongside DIF Infrastructure and Allianz Capital Partners on behalf of Allianz Group, which has agreed to acquire […]
CVC Credit Partners European Opportunities has announced that, in the light of the Company’s total return performance in 2016 and year to date 2017, its Board of Directors has revised the Company’s dividend target from the current level of 5 pence / 5 Euro-cents per ordinary share, to target a dividend of 5.5 pence / […]
Alpha Real Trust today announces that it has agreed to sell a 70% equity interest in the H2O shopping centre in Madrid (“H2O”) to CBRE European Co-Investment Fund, managed by CBRE Global Investors. The sale is at a 4.8% premium to the latest published valuation of the shopping centre, as at 30 September 2016. The […]
Safestore Holdings has announced that it has refinanced its US Private Placement Notes on ‘improved terms’ and has agreed an amendment and extension of its existing bank facilities to extend the average maturity and lower the cost of the Group’s debt financing. Under the refinancing, the existing $65.6m 5.83%1 2019 US Private Placement Notes and […]
David Hardy to take up the reins at John Laing Infrastructure Fund John Laing Environmental Assets (JLEN) has announced that David Hardy is transferring within John Laing Capital Management (JLCM) to take on the role as investment adviser to John Laing Infrastructure Fund (JLIF). David Hardy has been involved in leading the management of JLEN […]
For the year ended 31 March 2017, Land Securities’ NAV slipped as it said that its markets are pausing for breath. The chairman says that “In the London office market, we expected the occupational balance to shift from demand to supply during the course of 2017. The Brexit vote brought that inflexion point forward“…”Over the […]
The Board of Perpetual Income and Growth Investment Trust has announced a change to its management fee. It is removing its performance-based fee and making an adjustment to the calculation of the base fee. With effect from 1 April 2017, the annual management fee will be calculated at an annual rate of 0.6% per annum on the first £900m […]
Tritax Big Box REIT has announced that it has acquired a National Distribution Centre at Trax Park, Doncaster, for £20.9 million (excluding purchaser’s costs), reflecting a net initial yield of 5.61% on the asset acquisition. The purchase is being funded from equity proceeds. The company says that the proeprty is let to Unilever, one of […]
British Land has announced results for the year ended 31 March 2017. It says that its EPRA NAV fell very slightly, by 0.4% to 915p. Underlying profit rose by 7.4% to GBP390 million (2015/16: GBP363 million) and, on the back of this, diluted underlying earnings per share were up 10.9% to 37.8p. They are paying […]
Aberforth Smaller Companies Trust has announced that it has renewed its existing unsecured £125 million Revolving Debt Facility with The Royal Bank of Scotland plc for a further three years. The facility bears interest at 0.80 per cent over LIBOR and is due to expire on 15 June 2020. Aberforth Smaller Companies is the largest trust […]
Raven Russia has announced that it has signed a memorandum of understanding (MOU) with the Central Union of Consumer Cooperatives for the Russian Federation (Russian Co-Op) to develop a nationwide network of wholesale distribution centres for agricultural products. Raven Russia says that the MOU provides for the parties to create a network of modern warehouse […]
LXi REIT has exchanged contracts to provide forward funding for the development of a new Travelodge hotel, drive-through Starbucks coffee shop and drive-through Subway restaurant in Swindon, Wiltshire. The cost to LXi is GBP8.28 million, reflecting a net initial yield of 5.8% on the net cost. When complete (target June 2018) the new development will comprise: a 70 […]
Oakley Capital Investments says that Oakley Capital Private Equity III (“Fund III”) has agreed to acquire the business and operations of ZGS Verwaltungs GmbH (“Schuelerhilfe”), from its current majority shareholders Deutsche Beteiligungs AG (DBAG) and DBAG Fund V, a fund managed by DBAG. Schuelerhilfe is the leading provider of after school tutoring to primary and secondary […]
Land Securities has acquired a portfolio of three outlet centres from Hermes Investment Management for GBP332.5 million, generating annualised net rental income of GBP21.6 million. The acquisition follows the recent disposals of The Printworks in Manchester and The Cornerhouse in Nottingham and is in line with the company’s strategy of recycling capital into family focused retail […]
Marwyn is pleased to announce that MVI II LP held its first third-party fund close on Thursday 11 May 2017, securing commitments of GBP41 million from limited partners who have acquired interests in the portfolio at NAV and are expected to invest alongside the company in future investment opportunities. Marwyn anticipates that further third-party closes […]
Custodian REIT has acquired three units within the 33,270 sq ft Coypool retail park in Plymouth, near the town centre and adjacent to the A38 Devon Expressway. The units are occupied by Oak Furniture Land, SCS and McDonald’s, with nearby retailers including Bensons for Beds, B&M, Harveys Furniture, Next Home and DFS. The units’ leases […]
Epiris has announced that its portfolio company AXIO Group has agreed the sale of TechInsights, a leading intellectual property and technology services provider, to Oakley Capital. The sale, which is expected to complete in the next two weeks, is the seventh and final major realisation from AXIO’s portfolio and will conclude what has been an […]
Phaunos Timber Fund says it thinks it is well positioned to benefit from the Trump administration’s imposition of new anti-subsidy tariffs on Canadian sawtimber. The move escalates a long-running trade dispute between the two countries, which is based on claims by US producers that their Canadian competitors are effectively subsidized. Their argument is that Canadian […]
Scottish Mortgage delivered a return on NAV of 38.1% for the year to 31 March 2017, this compares well with a return on its benchmark of 33.1%. The return to shareholders was 40.9%. The board is recommending an increased final dividend, providing a total distribution for the year of 3.00 pence per share (2015/16: 2.96p), an […]
Alpha Real Trust has succeeded in having the challenge from Logix Group to the Arbitration Award dismissed by the Division Bench of the Delhi High Court. Following a further appeal by the Logix on 8 May 2017 the Division Bench of the Delhi High Court upheld the award declared in favour of the company by the […]
Custodian REIT has acquired a 27,480 sq ft car dealership, located within York’s ‘motor alley’ two miles from York city centre and adjacent to the A1237 ring road. Nearby occupiers include Vauxhall, Audi, BMW, Mercedes-Benz, Toyota and Volkswagen. The property is let to Pendragon Property Holdings Limited (trading as Evans Halshaw Peugeot and Citroen) on […]
Toro’s dividend target has been increased to at least EUR 0.08 per ordinary share per annum, compared to the initial target of EUR 0.05 (annualised) stated in the prospectus published in connection with the company’s May 2015 IPO. This follows the dividend increase to EUR 0.015 per ordinary share for Q1 2017 announced on 24 […]
