Henderson International Income has announced results for the year ended 31 August 2015. Over that period the fund underperformed the MSCI World ex UK Index on an NAV basis – returning 2.1% against 5.0% for the benchmark but the fund moved from a discount to a premium and so the return to shareholders was 12.2%. […]
AXA Property Trust say that AXA Investment Managers have informed the Board that after eight years as Senior Fund Manager, Martin McGuire has resigned his position at AXA Investment Managers and will leave the organisation on 27th November 2015. The Board wishes to thank Martin for his considerable contribution to the management of AXA Property […]
Electra Private Equity, together with Exponent Private Equity, is pleased to announce the proposed acquisition of Photobox Group, Europe’s leading digital consumer service for personalised products and gifts. Present in 22 European markets, Photobox Group is the parent of the PhotoBox, Moonpig, PaperShaker, Sticky9, Hofmann, Posterjack and posterXXL brands. The group has a strong customer […]
AEW UK REIT is spending £8.79m on two acquisitions: Barnstaple Retail Park was acquired for £6.79m reflecting a net initial yield and reversionary yield of 8.5%. It comprises a fully let retail warehouse scheme, extending to 50,950 sq ft. The Park is anchored by a 35,690 sq ft B&Q and includes a 9,605 sq ft […]
JPMorgan Smaller Companies has announced results for the year ended 31 July 2015. Over that period the total return on net assets was 13.4%, which compares with 10.5% for the benchmark index (the FTSE Small Cap Index excluding investment trusts). The return to Ordinary shareholders was 14.6% reflecting a slight narrowing of the share price discount […]
BlueCrest BlueTrend has announced that, following completion of the tender offer made in June 2014 by BlueCrest BlueTrend Limited (the “Company”), the Directors have continued to monitor the Company’s size against the provision in the Company’s articles of incorporation that requires a continuation vote to be put to shareholders if the average net asset value […]
Alpha Pyrenees has announced a new extension of its loan facilities with Barclays Bank PLC to 15 April 2016. The maturity date for its borrowings (€257.8m) was 15 October 2015. The company says that current interest rates will continue to apply to the facilities during the new extension period. Arrangement fees (charged at 2% per […]
On 14 October VinaLand announced it had sold its NPV project in Danang. The Project is a future development site and was acquired by VinaLand in 2007 for development into a dual purpose commercial and residential project. The divestment of this project is consistent with the Company’s strategy to divest selected assets by the end […]
Hochschild Mining plc is to raise £64.8 million (net £61.1 million), through a rights issue, which it will use to strengthen its balance sheet by applying at least 50% to repaying debt. As at 30 June 2015, the company had short term debt of US$97.1 million and long term debt outstanding of US$442.9 million (US$343.3 […]
The Qatar Investment Fund has announced a proposed tender offer to purchase up to 14% of the company’s issued share capital. The tender price will be a 1% discount to the Formula Asset Value on the 2 December 2015 with the results of the tender offer announced on 7 December 2015. The board says that […]
DiamondCorp plc, which is ramping up to commercial production at its underground Lace diamond mine, in South Africa, is currently commissioning a new conveyor system, which it believes will reduce operating costs. The 400 t/hr conveyor system to surface will replace the existing dump truck haulage, although the latter will still be used to transport […]
Caledonia Mining Corporation reports that the Blanket mine, in Zimbabwe, produced almost 11 koz of gold in Q3, taking gold production for the first nine months of the year to 31.3 koz (9 mnth 2014: 31.3 koz) The company expects the mine to achieve its target production for 2015 of 42.0 koz of gold. 49%-owned […]
GLI Finance is backing a company, Verus 360, established by Bibby, which offers small and medium sized companies borrowing facilities. The initial focus of Verus360 is to support businesses with annual revenue of between £200,000 and £8 million by offering facilities up to £250,000. GLI Finance is supporting the business with a £5m convertible loan. This has […]
JPMorgan Global Emerging Markets Income, in a refreshingly direct way, reports that its last financial year (to end July 2015) has been tough, particularly in the second half. The Company recorded a total return on net assets of -7.8%. This compares with a return on the benchmark index, the MSCI Emerging Markets Index with net dividends reinvested (in […]
The Board of Renewable Energy Generation Limited announces that it has received a non-binding approach for its trading subsidiaries. The assets would be acquired by a new company formed by the company’s executive management team. The Offer, which is subject to due diligence, would generate an estimated net cash distribution of around 60p per share representing […]
Electra Private Equity has announced it is selling its 23% interest in Zensar Technologies Limited, the listed Indian IT services business, to a company backed by funds advised by Apax Partners, the private equity firm. On completion of the transaction, Electra will receive proceeds of approximately £84m (based on current exchange rates). Inclusive of dividends and proceeds […]
Global Resources has announced that a fall in its net asset value means that its total assets equate to 3.8x the value of its convertible. One of the covenants that GRIT was obliged to abide by when the convertibles were issued is that the asset cover should not drop below 4x. Otherwise the convertible holders […]
The Baillie Gifford Japan Trust outperformed its benchmark index, TOPIX, over the year to 31 August 2015 by 7 percentage points. Net asset value per share, after deducting borrowings at fair value, rose 20.4%, while the benchmark index gained 13.4%. In this period the Company’s share price increased by 26.3%. The statement say the positive absolute and […]
Henderson EuroTrust has announced results for the year ended 31 July 2015. The net asset value per share total return (including dividends reinvested and excluding transaction costs) was 13.9% compared to a total return from the benchmark index, the FTSE World Europe (ex UK) Index of 9.6%. The final dividend will be 13.0p, (2014: 12.5p) producing a […]
Sanditon Investment Trust has published its first annual report for the period 14 May 2014 to 30 June 2015. The trust aims to return 2% above the UK retail price index and provide low correlation with equity markets. The trust finished the year with its NAV at 103.02p, just below its objective, but the board […]
Custodian REIT has announced the acquisition of Lancaster House (pictured), an office building in Birmingham City Centre for £6.65m. The 39,600 square foot, recently refurbished, building is currently let to 15 tenants with a total passing rent of £505,752 per annum, reflecting a net initial yield of 7.19%. The company has said that there is […]
Electra Private Equity has announced that portfolio company, AXIO Data Group, has agreed to sell MIMS, its Asian healthcare information business, to SMS and Mitsui for $250m. The transaction, which is expected to complete later today, will result in an increase in Electra’s diluted NAV per share of 122p compared to the 31 March 2015 […]
The Board of Kuala Innovations Limited has announced that it has subscribed for a 3.5 per cent. interest in Delaware incorporated private company Intensity Therapeutics, Inc. The Company has subscribed for 250,000 Preferred Series A Shares of Intensity Therapeutics (“Subscription Shares”) at a price of US$2.00 per Subscription Share, for total cash consideration of US$500,000. […]
Schroder UK Mid Cap Fund has announced that Rosemary Banyard has decided to leave Schroders, and will be stepping down as the Company’s lead portfolio manager with effect from 31 March 2016. Rosemary will continue to manage the portfolio until that time, following which Andy Brough, who has co-managed the portfolio with Rosemary since Schroders […]
