British Land’s first half results, covering the six months ended 30 September 2015, show the company’s EPRA NAV climbing by 7.5% and its diluted underlying earnings per share rising by 4.6% to 16p . The first half dividend was increased by 2.5% to 14.18p. The valuation of the portfolio increased by 4.7%. That broke down into […]
McKay Securities’s EPRA NAV rose by 4.1% over the six months to the end of September 2015 as it reported a 7.1% increase in the value of its property portfolio. The interim dividend was maintained at 2.7p. McKay Securities underlying profit before tax rose by 33.8% over the period as rental income increased by 20.8% […]
JZ Capital Partners has announced the sale of its investment in Justrite Manufacturing for $21.4m. Justrite manufactures products specifically designed to help workers store, transfer, use and dispose of hazardous materials in a safe and convenient manner and JZ Capital Partners first invested in Justrite in June 2011 alongside an investor group led by the […]
JPMorgan Japan Smaller Companies has announced results for the six months ended 30 September 2015. In the half year ended 30th September 2015 the total return on the Company’s net assets, net of fees and expenses, was -4.5% compared with -5.7% for the Company’s benchmark, the S&P/Citigroup Japan Extended Market Index (Total Return Net) in […]
The economic slowdown in China is impacting other countries in Asia and the developed world, and hopes of growth in consumer spending and the services sector coming to the rescue are fading. Rebalancing the economy away from infrastructure investment and traditional industrial drivers, while cushioning the services sector and allowing new industries to develop, is […]
Juridica has announced that one of its cases, Case 5009-S, which involved a theft of trade secret dispute brought by a smaller plaintiff against a much larger company, has completed a trial by jury. In spite of a full win on liability the jury only awarded an amount which will result in a return to […]
Target Healthcare REIT has announced a proposal to issue up to 15,652,803 new ordinary shares (9.99% of its existing share capital) by way of a placing. The company says that it will determine the price at which the shares will be placed based on the level of demand from potential investors, with the price expected to be […]
The Renewables Infrastructure Group that it has raised gross proceeds of £78m from its recent fund raising and that a total of 78m new ordinary shares will be issued at a price of 100p per share. Of this, 16,011,486 new ordinary shares will be issued as the final tranche of the company’s share issuance programme and […]
VinaCapital Vietnam Opportunities Fund has provided an update on its proposed move from trading on AIM to the ‘Premium Segment’ of the London Stock Exchange’s Main Market. The move was scheduled to occur at 7.00 a.m. on 20 November 2015 but has been delayed and is now expected to take place in January 2016. The […]
Schroder Real Estate Investment Trust has announced its interim results for the six-months ended 30 September 2015. During the period, the company’s NAV increased by 5.6% to 60.9p (31 March 2015: 57.7p), whilst the underlying EPRA earnings per share increased by 9% year-on-year to 1.2p (six months to 30 September 2014: 1.1p). The company says […]
International Public Partnerships has announced that it has raised £180m through a placing, open offer and offer for subscription. The company says that the issue was very significantly over subscribed and a total of 137,142,857 shares will now be issued at a price of 131.25p per share. The new shares are expected to be admitted to […]
Utilico Investments shareholders approve name change. As part of its annual results release in September, the board of Utilico Investments announced that, given the continued diversification of the portfolio away from utilities, they considered it appropriate for the company to change its name to UIL Limited. A resolution to approve the name change has now been passed […]
LXB Retail Properties has published an update on further pre-lets at a number of the Group’s investment properties and on planning consent for the Group’s first Living Villages project. Living Villages – Higher Newham, Truro The Strategic Planning Committee at Cornwall Council recently resolved to grant planning permission for the Group’s Higher Newham Farm proposals […]
The Bidco Board and the Japanese Residential Investment Company Board are pleased to announce that they have reached agreement on the terms of a recommended cash offer by Bidco for the entire issued, and to be issued, share capital of JRIC. Bidco is a newly-incorporated entity indirectly wholly-owned and controlled by the Blackstone Funds. Blackstone […]
Empiric student property has announced that it has exchanged contracts, subject to planning, on a forward funded development in Glasgow. The scheme, known as 155 George Street (pictured), is an 89 bed premium student accommodation development. The total investment is £9.6m, which is to be invested in stages against development milestones. Empiric is to acquire the […]
Following on from its announcement at the end of September, Standard Life Property Investments has published details of its £100m fund raising and acquisition of a Jersey Property Unit Trust (JPUT). Standard Life Property Investments has entered into the conditional Acquisition Agreement in relation to the acquisition of a new portfolio of 22 UK commercial real […]
Kuala Innovations has published interim figures covering the six months to the end of September 2015. Over the six months the NAV rose from 1.69p to 2.57p. the company made a loss for the period of 0.46p. The uplift largely reflects share issues the company made at 5p per share during the period. Since then the company has […]
Standard Life Equity Income has announced results for the year ended 30 September 2015. Over that period, the fund’s total return on net assets was an impressive 14.1% as compared to a -2.3% return on the FTSE All-Share Index. The Chairman believes that good stock selection and being prepared to hold a portfolio which is […]
Greencoat UK Wind proposes to raise £50m. Greencoat UK Wind has announced that it intends to raise up to £50m through a placing of its ordinary shares by way of a tap issue to institutional investors. Tim Ingram, Chairman of the company, has said that they are currently working towards a particular acquisition and that […]
Assura has announced that, following its recent equity raise, it has repaid £181m of long term debt held by Aviva Commercial Finance, with associated early repayment costs of £34m. The weighted average interest rate on the loans redeemed was 5.4%. This repayment is in line with the debt reduction plan announced in the company’s prospectus […]
Global Resources Investment Trust announced on the 2 November that, as a result of its NAV falling to 34.58p per share, its total assets equated to 3.94x the value of its convertible. One of the covenants that GRIT has been obliged to abide by, since the convertibles were issued, is that the asset cover on the convertibles should […]
The World Gold Council (“WGC”) reported some good news for gold this morning in its quarterly “Gold Demand Trends” publication for Q3 2015. Gold demand climbed 8% to 1,121 t from Q3 2014 as demand for jewellery grew 6% year-on-year with lower prices during July and early August attracting consumers. The quarter under review was […]
Martin Currie Asia Unconstrained (formerly Martin Currie Pacific) has announced its interim results for the half-year ended 30 September 2015. During the period the trust, managed by Andrew Graham (pictured), has reportedly given up most of the gains made in the previous financial year to 31 March 2015. On a total return basis, the trust’s NAV […]
Schroder Oriental Income Fund, chaired by Robert Sinclair (pictured), has announced its results for the year ended 31 August 2015, during which the company’s NAV fell by 5.8% and its share price by 6.1%. However these are both appreciably ahead of the performance of the Company’s reference index, the MSCI AC Pacific (ex Japan) Index, […]
Northern Investors has released its interim report for the half-year ended 30 September 2015. The company continues to follow its realisation strategy and, during the period, the number of holdings in the portfolio was reduced further from 15 to 12. Investment sales during the period generated total cash proceeds of £2.5m. The NAV per share […]
JPMorgan Japanese, managed by Nicholas Weindling (Pictured), has announced its final results for the year ended 30 September 2015 during which the companies NAV rose 14.7% (total return in sterling terms), outperforming its benchmark TOPIX index, which returned 6.0%. The share price performance was stronger returning 19.5% during the year. Over three years the Company’s […]
Gabelli Value Plus+ Trust has announced its first set of interim results for the period between 19 February and 30 September 2015. During the period the trust’s NAV fell 6.4% in total return terms underperforming the S&P 500 which fell 5.5% during the period (in Sterling adjusted terms). Share price total return during the period […]
F&C UK Real Estate, managed by Ian McBryde (pictured), announced in its interim results, released on 29 September, that the Board had been considering refinancing the company’s existing loan facility with Lloyds Bank, which is due for repayment in January 2017, and had agreed terms to refinance this through a new long-term term loan facility with Canada […]
