Ediston Property Investment Company has announced that it has acquired the Citygate building (pictured), a modern office building in Newcastle, for £18.95m (net of acquisition costs). The company says that the purchase reflects a net initial yield of 6.57% and will be funded from a combination of cash resources and an increase of £12.42m in […]
Henderson Global Trust, chaired by Richard Hills (pictured), has announced that it has been undertaking a strategic review of the trust and, after consultation with its advisers, the board has concluded that certain shareholders would prefer access to a global income strategy in the current market environment while others may wish to retain exposure to a […]
Oakley Capital Investments has provided a trading update for the 12 months ended 31 December 2015. The company says that its NAV per share (unaudited) is expected to be in the range of £1.98 – £2.00, which represents an increase of approximately 9% on the end of June 2015 figure. Oakley Capital Investments invests alongside […]
VietNam Holding has announced its interim results for the six months ended 31 December 2015. During the period, the company’s NAV rose 6.6% and its share price rose 6.4% both beating the Vietnam All Share Index, which fell 2.6%. The discount widened modestly during the period from 13.0% to 14.1% but the board say that […]
VPC Specialty Lending, chaired by Andrew Adcock (pictured) has announced that over 90 % of the net proceeds from its existing C share issue (admitted to trading on 2 October 2015) have now been invested and, reflecting this, the Board anticipates that the conversion will take place on 4 March 2016. The new ordinary shares, arising from […]
Custodian REIT has announced that it has sold a 7,333 square foot purpose-built office on Madison Place Business Park, Manchester for £1.35m, which is £0.15m ahead of its 30 September 2015 valuation. Prior to marketing, the lease term with Central Manchester University Hospitals NHS Foundation Trust was extended from four years to 10 years. The […]
John Laing Infrastructure Fund has announced that it has completed the purchase of a 40% stake in the Barcelona Line 9 Section II metro project, an agreement that was initially announced in December 2015. The consideration of the acquisition was the Euro equivalent of approximately £85m and was funded through JLIF’s existing cash resources and […]
F&C Managed Portfolio Trust has published interim results for the six months ended 30 November 2015, announcing a net asset value total return of -5.1% for the Income shares and -2.4% for the Growth shares compared to the FTSE All-Share Index return of -6.4%. The key drivers of the performance of the Growth Portfolio were […]
Reconstruction Capital II has announced that it is selling its 25.4% fully-diluted interest in Albalact SA, a publicly quoted Romanian dairy company, to Lactalis. Lactalis is a dairy manufacturing world-leader company owning many successful international brands such as “President”, “Parmalat”, and “Galbani”. The Lactalis group now employs 75,000 people, and owns more than 200 plants, located in […]
Shaftesbury PLC, the West End-focused Real Estate Investment Trust, announces that Westminster City Council’s Planning Committee yesterday evening resolved to grant consent for the Group’s application to reconfigure and extend 57 Broadwick Street, Carnaby, a prominent building at the eastern gateway to Carnaby. Their scheme for the building, which was acquired in March 2014, provides […]
Toro has published its first set of accounts, covering the period from 2 March 2015 to 30 September 2015. It raised €331.8m (gross of issue costs) on 8 May 2015 when it IPOd. There were two additional placings made during the Period, €16.4m (gross of issue costs) on 17 July 2015 and €8.8m (gross of issue costs) […]
Ediston Property Investment Company, which listed on 28 October 2014, raising initial gross proceeds of £95m has announced its first set of full year results for the year ended 30 September 2015. During the period, the total return on the company’s EPRA NAV was 13.7% whilst its share price total return was 14.3%. Its NAV […]
London metals consultancy, GFMS, believes that gold prices are set for a gradual recovery in 2016 to over US$1,200/oz by year end. Thus far in 2016, the gold price, in US dollars, has climbed to almost 3-month highs as political tension and fears over the world financial system have led to buying interest in the […]
Tritax Big Box REIT has announced that it is targeting a fundraising of £100m through a placing, open offer and offer for subscription, of new ordinary shares. Tritax says that it expects to use the net proceeds of the issue to acquire further investments. The issue price of 124p per ordinary share represents a discount of […]
Carador Income Fund has provided an update on its dividend strategy and outlook for 2016. The company says that, on the basis of current market conditions and the construction of the Company’s portfolio, the Directors anticipate that for 2016 the Company will achieve a target annual dividend of $0.090 per U.S. Dollar Share (distributed evenly […]
Green REIT has announced that it has signed leases with Fidelity International at George’s Quay, Dublin 2 (pictured). Fidelity International will take tenancy in February 2016 of 26,500 square feet in the former offices of Royal Bank of Canada, who have relocated to Georges Quay Plaza, a nearby office block also owned by Green REIT. […]
Aberforth Smaller Companies has published its results for the year ended 31 December 2015 (pretty fast!), over 2015 the net asset value total return was 10.2%, more or less matching the 10.6% return posted by the Numis Smaller Companies (excluding investment companies) Index that the fund uses as its benchmark. The share price return was […]
Better Capital’s 2012 pool has increased its investment in CAV Aerospace. They say CAV, working with its key stakeholders, has been able to take steps to release a significant amount of previously tied-up working capital and to make important operational changes which should lead to improved performance. In order to achieve the above, the General Partner […]
Debt funds dominated new launches in the investment trust space last year, accounting for 40 per cent of new funds. Research from QuotedData found that 10 of the 25 investment companies launched in 2015 were in the debt sector, following the popularity of the online lending market. https://www.fundstrategy.co.uk/debt-funds-dominate-investment-trust-launches/
Global Resources Investment Trust is raising cash by making a firm placing of 270m shares at 2p per share (195m of which are being issued to Primestar (see below) and 75m to RDP Fund Management (GRIT’s fund manager). Shareholders will be able to subscribe for 15m shares at 2p in an open offer plus up […]
Hummingbird Resources plc has followed up its maiden reserve estimate (see 15 December 2015) at its 85%-owned, Yanfolila gold project, in Mali,with a positive definitive feasibility study (DFS). The DFS is based on the progressive mining of five open pits to feed ore to a 1.24 Mt/y gravity and carbon-in-leach (CIL) plant which, with an average […]
Investment trust discounts tightening The median discount to net asset value (NAV) for investment trusts narrowed over 2015 from 7.5 per cent to 6.6 per cent, reports research company QuotedData, despite last year’s market volatility… http://www.investorschronicle.co.uk/2016/01/21/funds-and-etfs/investment-trusts/investment-trust-discounts-tightening-KAUxruI6hfHsZJAGEbL7iP/article.html
FastForward continues to build its portfolio, announcing today a $1m purchase of a 9.1% stake in Vested Finance Inc., an education technology provider trading under the brand “Schoold”. Vested Finance is the developer and owner of the “Schoold” mobile technology application, a big-data driven College & career counsellor App focused on higher education and career options […]
Advance Developing Markets has announced its annual results for the year ended 31 October 2015. During the year, the Company’s NAV declined by 8.1% compared thereby outperforming its MSCI Emerging Markets Index benchmark, which fell 11.4%. The share price fell by 9.5%, which reflects a modest widening in the discount. The average discount during the […]
Bluefield Solar has secured an amended credit facility agreement and has made six acquisitions (three of which were announced in December). The six additional solar photovoltaic plants have an energy capacity totalling 104.5 MWp. The total consideration is £149m, including transaction costs, debt costs and working capital and they are using their new credit facility to fund this. The new credit […]
LondonMetric Property has announced that it has exchanged contracts to sell the Odeon Multiplex Cinema, in Preston, for £10.2m. The sale reflects a net initial yield of 5.75% and the buyer is the Blackrock UK Long Lease Property Fund. The 33,000 square foot property has ten screens and is let to Odeon Cinemas Ltd for […]
Drum Income Plus REIT has provided an update that covers the period from its launch on 29 May 2015 to 31 December 2015. The company listed on the London Stock Exchange on 29 May 2015 raising gross proceeds of £31.9m. During the period to 31 December 2015, the company acquired four properties for total of […]
Damille Investments II has announced its annual, results for the year ended 30 November 2015. During the period, the company’s NAV per share fell by 1.2% to 102.15p per share (30 November 2014: 103.35p). The portfolio remains focused on discount opportunities. The company’s shares have consistently traded at a discount during the last twelve months […]
Electra Private Equity has announced that it is reviewing the Company’s investment strategy and policy and its structure. The announcement says that the review “will look at all options for maximising long-term shareholder value” although it does not give additional detail on what these various options might be. However, the board say that they presently […]
