Electra has raised €72m from the redemption of preferred equity and from the sale of c28% of its 15% equity interest in Allflex. This is equivalent to a return of 0.8x cost. the retained stake in Allflex has a value, implied by this transaction, of €78m (£65m). Together this repreents a 48% uplift to the […]
John Laing Environmental has announced the acquisition of Dungavel Wind Farm from John Laing Group for a cash consideration, including working capital, of GBP38.2 million. Dungavel Wind Farm is located in South Lanarkshire, South-West Scotland and comprises 13 Vestas 2MW V80 turbines with a total generating capacity of 26MW and is accredited for 0.9 ROCs. […]
BlackRock North American has published interim results covering the six months to the end of April 2016. Over the period the company produced an 8.0% net asset return per share (‘NAV’) compared with a return of 7.5% in the Russell 1000 Value Index. The Company’s share price return was 11.1% over the same period (all figures […]
Wolf Minerals reports that tungsten prices improved in Q2 16 with the ammonium paratungstate (APT) price reaching US$225/mtu in May, up from an average of US$172/mtu for the March quarter. APT is the main traded intermediary tungsten product on which tungsten concentrate prices are based. The company notes, however, that the price remains some US$160/mtu […]
Qannas has published account for the year ended 31 December 2015 – somewhat ancient history now. Briefly QIL has further committed to five deals: AED 2.9 million ($0.8 million) for the purchase of residential units in a building in Dubai Marina; GBP3.5m ($5 million) in a preferred equity investment in BL Development Limited, the company […]
New City Energy reports that, over the six months ended 31 March 2016, its net asset value in total return terms was slightly down at -1.0% (they say, as the portfolio was defensively positioned). The ordinary share price (total return) was down by 0.1%, ending the period at a discount of 28.1%. The chairman says, […]
Lazard World Trust Fund announced two years ago that it intended to commence paying dividends, for the first time in the Fund’s history. The Fund was one of the few funds in the global growth sector which did not pay any dividend and a number of potential investors questioned why this was the case. While the […]
Infrastructure India has announced that it has completed the sale of its entire 26 per cent interest in Western MP Infrastructure & Toll Roads Private Limited. The transaction was originally announced on 8 April 2016 and completed on 28 June 2016. Western MP Infrastructure & Toll Roads operates a 125km toll road in the central […]
For the six month period ended 30 April 2016, BlackRock Income & Growth’s net asset value per share returned -2.8% and the share price returned -2.3%. By comparison, the FTSE All-Share Index was unchanged over the period. Since the period end and up to 27 June 2016, the Company’s NAV per share has fallen by […]
The Board of Schroder European Real Estate Investment Trust has announced the completion of the acquisition of two grocery anchored retail investments located in Rennes and Anglet (near Biarritz), France. The freehold properties are located in established retail parks which benefit from strong local catchments. The acquisition has been made in a joint venture with […]
International Public Partnerships Limited has announced that it has acquired an additional interest in the Wolverhampton Building Schools for the Future (“BSF”) project. INPP will commit a further GBP7.2 million to acquire Carillion Private Finance’s 72% direct investment, growing the Company’s existing 10% investment in the Project to 82%. The opportunity to acquire the additional […]
Amedeo Air Four Plus has published its first set of accounts covering the period from incorporation to 31 March 2016. The Company’s shares were first listed on 13 May 2015 upon the admission of 202,000,000 redeemable ordinary shares (“Shares”) at an issue price of 100 pence per Share. On 15 December 2015, pursuant to an […]
Global Resources Investment Trust says it has entered into a legally binding subscription agreement with RDP Fund Management LLP under which RDP has agreed conditionally to subscribe (subject to having the right to assign some or all of the right to subscribe) for a total of 40,000,000 new ordinary shares of GBP0.01 in GRIT (plus warrants) at […]
NextEnergy Solar reports that, at 31 March 2016, the company’s NAV was GBP273.8m, equivalent to 98.5p per share (March 2015: NAV of GBP248.4m, 103.3p per share) mainly affected by reductions in power price forecasts and removal of LECs (which had a combined negative impact on NAV of 14.6p per share). As experienced during the previous reporting […]
UK Commercial Property Trust Limited has announced that on 24 June 2016 it completed the sale of Dolphin House, an office in Sunbury-on-Thames, having also completed the sale, earlier in the month, of 6 Arlington Street, in London’s St James’s. The sales were completed in two separate transactions for a total consideration of GBP45.6 million, […]
Picton Property Income has announced results for the year ended 31 March 2016. The EPRA NAV increased by 12.7% to 77 pence per share. EPRA earnings increased by 30.1% to GBP19.9 million, equivalent to EPS of 3.7 pence per share (up 8.3% on the year before). The dividend has been increased by 10% to 3.3p. The total […]
The year to the end of April was a difficult one for Asian funds. Invesco Asia outperformed however, returning -7.1% on net assets against -14.3% for the MSCI AC Asia ex Japan Index. The return to shareholders was -10.3% (the discount widened from 9.8% to 13.1%). The dividend is being maintained at 3.65p. At the […]
Aberdeen Emerging Markets Investment Company beat its benchmark over the six months ended 30 April 2016. The company’s net asset value total return for the period was 6.1%, comparing favourably with a return of 5.6% from the benchmark index, the MSCI Emerging Markets Net Total Return Index (in sterling terms). The share price total return […]
Jupiter Green has published results for the year ending 31 March 2016. During the period under review, the total return on the net assets, adjusted for share cancellations decreased by 1.0 per cent. This compares with a decrease in the Company’s benchmark index, the MSCI World Small Cap Index Total Return of 2.4 per cent. […]
Target Healthcare REIT Limited has announced that it has completed the acquisition of a modern, purpose built care home in Cheltenham, Gloucestershire for approximately GBP7.9 million including acquisition costs. The home was completed in 2010 and the striking modern design was award-nominated. It comprises 66 bedrooms with full en-suite bathrooms with wetroom showers, spread over […]
Gresham House Strategic has announced results for the year ended 31 March 2016. Since the new managers were appointed the NAV has returned 1.0% against a return of -2.8% for the FTSE Small cap. and -5.4% for the FTSE All-Share Index. Although they committed to distribute 50% of capital realisation gains through dividend, the board decided that for […]
Better Capital PCC has announced its final results for both its 2009 cell and 2012 cell for the year ended 31 March 2016. The company says that the 2009 Cell made good progress during the year and that this was mainly driven by Gardner’s sustained solid performance. It also says that the disposal of Santia, […]
Industrial Multi Property Trust (IMPT) has published the text of a letter it is sending to its shareholders to update them regarding the proposals the company has received from J Stocks. Rather than cut and paste it, we have attached a pdf of the announcement here. 20160623 Industrial Multi Property – RNS About IMPT IMPT (formerly Alpha UK […]
Damille 2 has announced that, following the AGM held on 4 May 2016 where the continuation resolution failed to pass, the Directors now propose to commence an orderly realisation of the Company’s assets. This process is expected to take approximately 18 months. Capital will be returned by way of distributions to the Company’s shareholders. A […]
Hansa Trust, which has published results for the year ended 31 March 2016, says it has had a challenging year, particularly due to its exposure to the Brazilian market and the economic woes that Brazil continues to face. However, there have been a number of bright spots within the portfolio. The NAV has fallen from 1138.6p […]
F&C Global Smaller Companies, chaired by Anthony Townsend (pictured), has announced its annual results for the year ended 30 April 2016. During the period, the trust provided an NAV total return of 3.5% beating its benchmark (a 70%/30% blend of the MSCI All Country World ex UK Small Cap Index and Numis UK Smaller Companies Index), […]
