BlackRock Smaller Companies Trust, managed by Mike Prentis (pictured), has announced that its board is considering the removal of the current restriction that the value of AIM-listed stocks should not exceed 40 per cent. of the Company’s portfolio. The board says that the proposal comes in the light of the development and evolution of the AIM […]
The boards of Threadneedle UK Select Trust (UKT) and Henderson High Income Trust (HHI) have both made announcements regarding proposals to wind up Threadneedle UK Select Trustand roll-over into Henderson High Income Trust. Threadneedle UK Select faces a continuation vote at its forthcoming AGM and its Board says that it has been reviewing the options […]
Duke Royalty (DUKE) has announced proposals for a conditional placing to raise up to £15.0 million, before expenses, by way of a fundraising. This to comprise a placing and subscription of up to 37.5 million New Shares at a price of 40 pence per share. DUKE says that the net proceeds of the fundraising, which […]
Funding Circle SME Income Fund (FCIF) has announced that it is launching a placing of C Shares under its share issuance programme. This is the company’s first potential share issuance, under its share issuance programme, which was established to raise funds over a twelve month period. The C Share placing is expected to close on […]
MedicX Fund Limited has announced that following a period of consultation, the directors have determined that it is in the best interests of shareholders as a whole to convert to a Real Estate Investment Trust (“REIT”). It is intended that an EGM will be held later this financial year, allowing shareholders the opportunity to vote […]
Wolf Minerals has reported a net loss after tax for the six months to 31 December of A$37.7m, an increase from the A$24.3m loss reported in the corresponding period of 2015. The total loss (including items affected by exchange rate movements) amounted to A$50.6m (2015: loss of A$31.5m). After revenue from sales of tungsten and […]
LondonMetric Property Plc has sold three retail parks in Christchurch, Bedford and Maidstone for GBP60.9 million (LondonMetric share: GBP52.6 million). At Christchurch, the 104,000 sq ft retail park has been sold to clients of Orchard Street Investment Management for GBP34.5 million, reflecting a NIY of 5.65%. The property was purchased in 2013 for GBP27.1 million and […]
Polar Capital Global Healthcare Growth and Income Trust has announced brief details of its proposals for the future of the Company. Subject to the approval of shareholders and regulatory approvals as required, it is proposed that: the existing investment mandate is changed to a growth mandate; there will be a dividend going forward, but at a lower level than before; the name […]
For the year ended 31 December 2016, Fidelity European Values says that its net asset value total return per ordinary share was 17.6%, underperforming the Benchmark Index, the World Europe (ex-UK) Index, which returned 19.7%. The share price total return, however, lagged the NAV return at 7.6%, as a result of the level of discount (ex-income) […]
Aberdeen Frontier Markets Investment Company has announced that both of the resolutions put forward at the EGM held today have been passed. As described in the circular to shareholders and notice of EGM dated 3 February 2017, resolution 1 was to approve the new Investment Objective and Policy of the Company and resolution 2 was […]
LMS Capital has announced preliminary results for the year ended 31 December 2016. At the general meeting on 16 August 2016 shareholders voted in favour of proposals to change the Company’s investment policy so that the Company may now make new investments focused on private equity opportunities. On the same date the Company appointed Gresham House […]
Premier Energy & Water says that for 2016 its gross assets total return, which measures the total return of the portfolio, including income received and taking into account fees and costs, was 17.9%. This was ahead of the UK market but behind the total return seen by the All-World Utilities Index, which returned 28.7% in GBP […]
GCP Asset Backed Income has committed to two loans of up to GBP17.5 million aggregate which will be used to finance UK residential property. The first loan, of up to GBP15 million and with a term of c.three years, will be secured on a subordinated ranking basis against a portfolio of eight co-living properties. The […]
City Natural Resources High Yield Trust has announced its interim results for the six months ended 31 December 2016. During the period, the Trust provided an NAV total return of 19.4%, thereby outperforming its benchmark index, which the company says returned 18.8%. The Trust’s share price total return was 30.8% was better than the NAV […]
MedicX Fund Limited has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Cromer, Norfolk. The property is due to be completed in March 2018. The acquisition is being made under a new three year framework agreement which provides MedicX Fund the exclusive right to acquire, by way of […]
Aberdeen Smaller Companies Income reports that its NAV was up 8.2% in total return terms for the year, lagging the performance of its benchmark, the Small Cap ex-investment companies index, which rose by 12.5%. The Directors are disappointed that the discount widened over the course of the year and was 22.1% at the year end. The Board has declared four interim […]
intu properties has exchanged and completed contracts with entities of the Ivanhoé Cambridge Group to acquire Xanadú shopping centre in Madrid, Spain, long with its associated management company and the SnowZone operating company, for a total cash consideration of EUR530 million, before working capital and other adjustments. The centre itself, excluding the management company and […]
Murray International (MYI)has announced its annual results for the year ended 31 December 2016. During the period, the trust provided an NAV total return of 40.3% and a share price total return of 50.5% (the trust moved from trading at a discount to trading at a premium over the period). These are markedly ahead of […]
JPMorgan Claverhouse has announced its annual results for the year ended 31st December 2016. During the period, the Trust provided an NAV total return of +11.3%. The Trust says that the return for its benchmark, the FTSE All-Share Index, was +16.7%, reflecting a good period for UK investors. The share price rose from 602.5p to […]
Wolf Minerals is to draw down an additional £10m from the 12-month secured bridge loan facility that major shareholder, Resource Capital Fund (RCF), provided in October 2016. This will take the amount received from RCF to £30m. The loans carry interest at rates between 10% and 15% per annum and may be repaid with cash […]
Fair Oaks Income Fund has just published reorganisation proposals. The purpose of the Reorganisation Proposal is to allow those Shareholders who wish to extend the life of their investment in the Company beyond the planned end date of the existing Master Fund, FOIF LP, to be able to do so by having their Ordinary Shares re-designated as […]
BlackRock Latin American says it made a 25.2% return on net assets for the year ended 31 December 2016 – in US dollars. The weakness of sterling meant that, despite a widening of the discount, shareholders made a 45.9% return. The dividend for the year was 15 cents, a fall of 28.6% on the previous […]
DW Catalyst has announced that shareholders holding 9,349,317 shares (57.6% of shares in issue) have voted in favour of discount trigger resolution. The effect of this is that all of the shares that were voted in favour will be redeemed by the company on 1 August 2017. Redeeming Shareholders will receive the proceeds in four quarterly […]
SEGRO is proposing to raise approximately GBP556 million (net proceeds) by way of a Rights Issue, the issue is fully underwritten. 1 for 5 rights issue of 166,033,133 ordinary shares of 10 pence each in the capital of the Company at a price of 345 pence per New Ordinary Share. The issue price of 345 pence per New […]
LXi REIT has exchanged contracts to acquire the Q-Park car park at Rockingham Street, Sheffield. The purchase price is GBP19.1 million (excluding purchaser’s costs), reflecting a blended net initial yield of 5.20% on the asset acquisition. The car park, which comprises 96% of the Property, is let to Q-Park Limited with a lease guarantee from […]
Witan made a 22.9% return on net assets over the year ended 31 December 29016, more or less matching the 123.0% return posted by its benchmark. The underlying managers struggled with just three of their ten third party managers, together with the direct holdings portfolio, outperforming their benchmarks. There were significant positive contributions from the […]
Green REIT has exchanged contracts for the sale of Parkway Retail Park in Limerick, with completion expected by the end of March 2017. The contract price of EUR24.3 million is payable in two tranches, with EUR1.3 million of the price subject to securing planning consent for a vacant unit in the property for which a tenant […]
Polar Capital Global Financials returned 22.2% over the year ended 30 November 2016 in NAV terms, a bit behind the benchmark (MSCI World Financials Index to 31 August 2016, and the MSCI World Financials Index + Real Estate, for the period 1 September to 30 November 2016) which returned 24.5%. Shareholders made 21.4% as the […]
