Bluefield Partners LLP, the Investment Adviser to the Bluefield Solar Income Fund Limited has made a statement following today’s publication of the Department of Energy and Climate Change (“DECC”)’s response to consultations launched this summer regarding changes to financial support for solar PV, outlining changes to the regulatory support for solar assets, including changes to the Renewable […]
Atlantis Japan Growth says its benchmark, the Topix, was down 2.69% and the Company’s Net Asset Value per share fell 2.95% for the six month period ended 31st October 2015. There’s precious little else in the announcement of interest – no performance attribution, not even any mention of how the company’s share price performed – […]
Artemis Alpha has reported a -3.6% total return on net assets for the six month ended 31 October 2015. The FTSE All-Share Index declined by 5.7 per cent over the same period. The Chairman says the fall in the NAV was primarily due to changes in the valuation of its unquoted investments, a number of which raised […]
The Local Shopping REIT has announced its annual results for the year ended 30 September 2015. Profit for the financial period was £0.02m or 0.02 pence per share (2014: £1.21m or 1.5 pence per share). However, this marked drop reflects the sale of two of the Company’s property-holding subsidiaries, NOS 2 Limited and NOS 3 […]
Miton UK MicroCap Trust has announced its first set of results, covering the six month period ended 31 October 2015. The net asset value rose from 49.0p on 30 April, (the 50p per share issue price less the costs of the issue) up to 52.42p on 31 October 2015. This is an appreciation of 7.0%. The Trust has grown […]
On 26 November TwentyFour Income Fund issued a circular to shareholders setting out an amended investment policy and plans for a capital return. Shareholders approved these proposals at an EGM yesterday. In the first quarter of 2016 shareholders will be given the following options: to retain their current investment in the Company; to increase their investments in the […]
Tejoori has announced results for the year ended 30 June 2015. This is obviously very out of date now but, for what it is worth, at end June Tejoori had cash of USD2.2m, Wakala (Sharia compliant) deposits of USD 1.4m that pay 5% interest, investments in plots of land in Dubai and an investment in a […]
In a difficult period for Asian stock markets, Invesco Asia Trust outperformed its benchmark over the six months ended 31 October 2015 returning -11.8% vs. -16.3% for the MSCI Asia ex Japan Index. The return to shareholders was -13.1% as the discount widened from 9.8% to 11.0%. The manager’s report says that the company’s holdings […]
Polar Capital Global Healthcare Growth & Income Trust has announced its annual results for the year ended 30 September 2015. In what was a volatile year for the trust, its NAV total return was 8.2% thereby modestly underperforming its benchmark, the MSCI Global Healthcare Index, which returned 9.6%. The discount to NAV narrowed by 2% […]
On 1 October 2015, Alliance Trust announced a series of changes that its said were designed to enhance shareholder value. In advance of the end of the financial year on 31 December 2015, the company has provided an update on the progress that has been made on implementing these changes. Rather than copying and pasting […]
The Oyu Tolgoi joint venture, in which Rio Tinto owns 34%, has signed a US$4.4 billion project financing agreement to develop the Oyu Tolgoi copper-gold underground mine, in Mongolia. The mine has been producing copper concentrates (with gold included) since 2013 from an open pit, which was developed at a cost of US$6.4 billion. All […]
Dunedin Smaller Companies has announced results for the year ended 31 October 2015. over this period the fund underperformed the FTSE Small cap (ex Investment Companies) Index, returning 10.7% on net assets against 13.1% for the benchmark, but a narrowing of the fund’s discount, from 16.9% to 15.0%, gave shareholders a 13.7% return. The dividend has […]
Hummingbird Resources plc has declared a maiden reserve at its 85%-owned, Yanfolila gold project, in Mali. The reserve (100% basis) is 6.82 Mt at a grade of 3.03 g/t for 666 koz of gold contained, which represents a 20% increase from the in-pit resources in an optimisation study published in June this year. 100% of […]
The Board of NB Distressed Debt has announced that it is curtailing its buy-back programme on the Global and Extended Life shares. At the time of writing, the Global shares have fallen by 4.0% today and the extended Life shares by 3.7%. 1) with respect to the Global shares they said: “The discount control policy […]
Law Debenture Corporation has announced that its Group Managing Director, Caroline Banszky (pictured) has, after thirteen years as the Group’s MD, given notice of her intention to retire from her role by 31 October 2016. She will also step down as a director of the Corporation at that time. The Nominations Committee of the board […]
LMS Capital has announced the results of its tender offer that was previously announced on 27 November 2015. The latest tender is the fourth the company has made since the approval of its realisation strategy in November 2011. The tender price was 96p and 130,363,380 ordinary shares were validly tendered. The basic entitlement is 28.7% […]
AEW UK REIT has announced interim results for the six months ended 31 October 2015. The property portfolio rose in value by 1.55% over the period. Adjusted earnings per share were 1.68p. The net asset value fell from 98.03 after the IPO to 97.09p at end October – most of the fall relates to the […]
SEGRO plc and Hermes Property Unit Trust have completed a property swap transaction. SEGRO has acquired from Hermes a 9,800 sq m single-let, modern distribution warehouse in Hayes, West London for £21.9m. Hermes has purchased from SEGRO two multi-let industrial estates totalling 29,300 sq m, both situated close to Heathrow Airport for £47m. The balance of £25.1m […]
Enough of Premier Energy & Water’s existing ZDP holders have rolled over into its new issue to leave it oversubscribed. There will be no placing of new zeros. We talked about the new issue in this month’s warrants, subscription share and zeros roundup. the new zero (PEZ), issued by PEWT Securities 2020, will start trading on […]
Armadale Capital has updated metallurgical work at its 80%-owned Mpokoto project in the DRC’s Katanga Province, which has confirmed the proposed two-phase processing route to recover gold from the oxide ores initially, with a further second phase to treat the transition and fresh rock. Metallurgical testwork on two bulk samples of oxide ore has confirmed […]
Armadale Capital has updated metallurgical work at its 80%-owned Mpokoto project in the DRC’s Katanga Province, which has confirmed the proposed two-phase processing route to recover gold from the oxide ores initially, with a further second phase to treat the transition and fresh rock. Metallurgical testwork on two bulk samples of oxide ore has confirmed […]
Empiric Student Property has announced that it has exchanged contracts to acquire Provincial House, a 107 bed forward funded development in Sheffield, for a total investment of £11m. Empiric is to acquire the freehold to the site, which is located in central Sheffield, immediately next to the University of Sheffield’s north campus. The existing property […]
Blackstone / GSO Loan Financing has announced that it is considering raising additional capital through an issue of shares. The company’s board say that this reflects what they consider to be an attractive investment and funding environment. They also say that any fundraise will be subject to market conditions and further details will be announced in due […]
JPMorgan Asian has published results for the year ended 30 September 2015 that show the fund managed to outperform its benchmark. During the year under review, JPMorgan Asian’s return on net assets was -2.9%, outperforming the MSCI AC Asia ex Japan Index, which delivered a -6.3% return. The Board had been warning JPMorgan that performance […]
AEW UK REIT’s shopping spree continues with the purchase of three more properties for £12.2m. The first comprises a prominent 49,764 sq ft town centre leisure investment in Southend-on-Sea, let to Odeon Cinemas Limited with a WAULT of approximately 7 years to expiry. The property was acquired for GBP5.7m (net of acquisition costs) reflecting a […]
Foresight Solar Fund has announced that its 30MW Copley asset (located in Claypole, Newark) has been successfully connection to the Grid and will qualify for the 1.3 Renewable Obligation Certificate banding under the Renewable Obligation 12-month grace period for projects greater than 5MW. Following the connection of Copley, all 16 assets in the Company’s 338MW […]
Finsbury Growth & Income has published an impressive set of results for the year ended 30 September 2015. In a year when the total return on the FTSE All-Share Index was -2.3%, Finsbury Growth & Income delivered a 12.0% return on net assets and an 11.8% return to shareholders. The dividend has ben increased by 7.1% […]
St Peter Port Capital has announced its interim results for the six months ended 30 September 2015. During the period, the company’s NAV has by 21% to 46.2p per share. The company says that, although some companies continue to make good progress, the resource related part of the portfolio has suffered from the weakness in […]
Edinburgh Worldwide Investment Trust, managed by Douglas Brodie (pictured), has announced its annual results for the year ended 31 October 2015. During the year the company’s NAV by 10.0% and its share price by 13.8% beating its comparative index, the S&P Global Small Cap Index, which increased by 3.5% in sterling terms. The Company says […]
Multi-commodity mining giant, Glencore, yesterday briefed investors on its preparedness for a lower price environment. The company has reduced 2015 capex from US$6 billion to US$5.7 billion, and expects to reduce 2016 capex to US$3.8 billion. For its main mineral products it expects low cost profiles of US$1.10/lb copper, US$0.33/lb zinc, US$2.95/lb nickel and US$39/t […]
