Reconstruction Capital II has announced that it has conditionally disposed of 1) its 93% interest in Top Factoring SRL, a Romanian receivables collection company, and 2) the whole of the non-performing loan book held by the Company’s wholly owned subsidiary Glasro Holdings Limited (Glasro). Together these comprise the Top Factoring Group. The purchaser is Intrum […]
Dunedin Income Growth, which has just announced results for the year ended 31 January 2017, says that its NAV return for the year was 19.2%, just behind the All-Share Index which returned 20.1%. Shareholders suffered from a widening discount however, leaving the with a return of 16.5%. The revenue return per share for the year […]
Standard Life Investments Property Income Trust has completed the purchase of a multi let industrial scheme in Feeder Road, Bristol for GBP5.27m. The 8 unit scheme is fully let to 7 tenants and provides the opportunity for asset management through lease regears and renewals over the next three years. Jason Baggaley, Fund Manager, commented that “This […]
The Board of Better Capital PCC Limited was informed today by the General Partner of BECAP12 Fund LP that it has disposed of its debt instruments in BECAP Jaeger (UK) Limited. Confidentiality undertakings prevent any further disclosure of the identity of the buyer. The 2012 Fund expects to receive net funds of approximately GBP7m/ 2.2 pence […]
Epiris has completed the sale of Audiotonix, a leading manufacturer of audio mixing consoles, to Astorg, a leading European private equity firm, having achieved the necessary regulatory approvals. Electra Private Equity has received proceeds from the sale of GBP203 million, an uplift of GBP62 million or 44% and equivalent to an increase in its NAV […]
MedicX Fund Limited has contracted to acquire two modern primary healthcare medical centres in Walsall and Birmingham from a private investor advised by investment manager Longmead Capital LLP. The property in Walsall is let in its entirety to NHS Property Services and the property in Birmingham is let to a GP practice, Birmingham and Solihull […]
Amedeo Air Four Plus is proposing to acquire four Airbus A350-XWB aircraft for leasing to Thai Airways. The rental income from these will be paid in US dollars. The new acquisitions are intended to allow them to maintain the target dividend yield of 8.25 pence per share. The new deals will be structured similarly to the old ones. Three of the new […]
Epiris has announced that it has agreed the sale of Treetops Nurseries, the UK’s fourth largest nursery education operator, to Busy Bees. The transaction is anticipated to close in April. Electra Private Equity is expected to receive proceeds from the sale of GBP93 million, an uplift of GBP44 million or 91% and equivalent to an increase in […]
International Public Partnerships reports that, for the year ended 31 December 2016, it delivered overall NAV growth of 24.3% to GBP1.6 billion (partly on the back of a £200m fund raise during the year). NAV per share growth was 9.2% to 142.2 pence (2015: 130.2 pence). Its IFRS profits before tax rose by 119.4% to GBP175.3 million (2015: GBP79.9 […]
Aberdeen Asian Income Fund reports that its NAV rose by 29.9% over the course of 2016, outpacing the 27.7% rise in the MSCI All Country Asia Pacific ex-Japan Index (total return basis). The share price rose by 28.4% on a total return basis to 194.3p, while the discount widened slightly, notwithstanding significant buy-back activity, from 6.8% […]
BlackRock Emerging Europe beat its benchmark by 6.4% in US dollar terms over the year to 31 January 2017. The net asset value per share increased by 38.2% in US Dollar terms (55.8% in Sterling terms) which compared favourably with the MSCI Emerging Europe 10-40 Index return of 31.8% in US Dollar terms (48.6% in Sterling terms). […]
India Capital Growth reports that the Net Asset Value of the fund rose by 20.4% in sterling terms over the course of 2016, though adjusting for the dilution caused by the exercise of the Subscription Shares, the rebased NAV was up 28.5%, in line with the Mid Cap Total Return Index, which was up 28.8%. Within […]
Clive Nicholson, chairman of City Merchants High Yield, says it continued to perform well in 2016 despite persistent volatility in bond markets and the increasing difficulty of sourcing quality high yield paper. For the year ended 31 December 2016, the NAV total return was +11.8% which compares very favourably with +7.1% for the Investment Association Sterling […]
Henderson High Income, which is in the throes of a merger with UK Select Trust, has announced results for the year ended 31 December 2016. The benchmark, which is a composite of 80% of the All-Share Index (total return) and 20% of the Merrill Lynch Sterling Non-Gilts Index, returned 15.5% for the year but Henderson High Income […]
Volta Finance Limited has announced a change in the Directors’ remuneration following a detailed external review carried out by Trust Associates. At a meeting on 28 March 2017, upon the recommendation of the Remuneration Committee the Board adopted Trust Associates’ recommendations in full, backdated to 1 February 2017, noting that the purpose of the changes […]
BBGI has announced results for the year ended 31 December 2016. Its VAV rose by 13.1% to 126.1p over the period. Dividends totalled 6.25p. 61% of the company’s assets are located outside the UK and denominated in major currencies other than sterling. Currency weakness was a big factor in the NAV move. The portfolio of […]
Randgold Resources has proposed an increase in its dividend for 2016 of 52%, to US$1.00 per share, based on a record year and its accumulated cash at the end of the period. The company has paid dividends each year since 2006. The increase comes after the company achieved record gold production in 2016 of 1.25Moz, […]
ICG Enterprise Trust PLC has announced the successful refinancing of part of its bank facilities. The Company has access to total bank facilities of GBP100 million, half of which is denominated in sterling and half in euros. These are jointly provided by The Royal Bank of Scotland and Lloyds Bank. Of the total facilities, GBP40 million […]
Schroder Real Estate Investment Trust has exchanged unconditional contracts to sell St. Augustine’s Courtyard in Bristol to the University of Bristol for GBP 11.75 million. The sale price compares with the independent valuation as at 31 December 2016 of GBP7.2 million and completion is due on 7 April 2017. St. Augustine’s Courtyard is a vacant […]
ICG Longbow says that the borrower under the Group’s Lanos (York) loan has completed a refinancing of the property which provided security for the Group’s loan. As a result, the GBP10 million loan has been repaid in full, together with accrued interest, exit and prepayment fees of approximately GBP1.1 million in aggregate. The Investment Manager […]
Custodian REIT has sold a 25,724 sq ft car dealership on Mallory Road, Peterborough for GBP2.75 million, GBP0.345 million ahead of the 31 December 2016 valuation. The property is let to Marshall Motor Group Limited on a lease expiring in 2019. The property was purchased shortly after the company’s admission to the London Stock Exchange. They […]
On 9 March 2017, Fair Oaks Income Fund announced proposals which included a chance for shareholders to extend the duration of their investment in the company and also a further equity raise. 47,428,202 shares have been elected for re-designation as 2014 Shares, representing 15.3% of the shares currently in issue. Consequently, 263,510,368 shares will be re-designated as 2017 […]
The Board of Strategic Equity Capital confirms that the company has received a request to requisition a general meeting from two of its shareholders, Ian Armitage and Growth Financial Services Limited, a subsidiary of Harwood Capital Management, representing 5.02 per cent. of the issued share capital. The proposed resolution Mr Armitage and Harwood wish to put to […]
Greencoat UK Wind has acquired Langhope Rig Wind Farm from GE (NYSE: GE) unit, GE Energy Financial Services for a total consideration of GBP39.8 million. The acquisition, which completed on 24 March 2017, was funded by UKW’s revolving credit facility (GBP37 million) plus cash resources (GBP2.8 million). Langhope Rig is located near Hawick in the […]
The Board of The Monks Investment Trust has announced a change in the calculation of its management fee, with the introduction of a second tier and the calculation to be based on total assets (the total value of all assets held less all liabilities, other than any liability in the form of debt intended for investment […]
In 2016, JPMorgan American’s board visited the Manager’s offices in New York where it held meetings with the Investment Management team to include both Garrett Fish and the manager of the small companies portfolio, Eytan Shapiro. The Board further met with senior management, the behavioural finance team of which Garrett is a member, the corporate engagement and the […]
Pershing Square Holdings (PSH) has announced that it intends to apply for a Premium Main Market listing, for its ordinary shares, on the London Stock Exchange and that, following admission, it expects that its shares will be eligible for inclusion in the FTSE All-Share and FTSE 250 indices. PSH says that its listing on Euronext Amsterdam will […]
Electra Private Equity (Electra) has announce that it is declaring a special dividend of £1.0 billion, representing 2,612p per share, to be paid on 5 May 2017 to shareholders on the register of members at the close of business on 7 April 2017. Electra says that its estimated pro forma NAV per share, as at […]
Regional REIT’s results for 2016 (its first full year as a REIT) are out. Its EPRA NAV slipped slightly to 106.9p from 107.8p. Fully diluted EPRA earnings per share were 7.7p (IFRS EPS 4.9p) derived from an operating profit before gains and losses of GBP29.9m and Profit Before Tax of GBP13.4m, with rental income of GBP43.0m and an […]
