At a time when the gold price is offering gold producers few favours, they have responded by cutting operating costs, the one variable they have a certain amount of control over. According to Metals Focus’ latest Gold Mine Cost Service, global gold total cash costs averaged US$664/oz in Q2 2015, a drop of 2% q-o-q […]
Murray Income underperformed over the year to the end of June 2015 delivering a negative 2.2% return on net assets compared to a positive 2.6% return on its benchmark, the FTSE All-Share Index. The fund’s discount widened as well leaving shareholders with a 5.7% loss for the year. The dividend was increased from 31.25p to […]
In Newcastle Empiric Student Property will acquire on practical completion the freehold of a turnkey student accommodation and retail scheme, Metrovick House (pictured), in central Newcastle for £7.4m (excluding costs). The property, which is the Group’s second acquisition in Newcastle, is located in the city centre with excellent transport links and is walking distance from the City’s […]
Public Service Properties has reported its interim results for the six months ended 30 June 2015. The NAV at 30 June 2015 was 49.1p. In March 2015 the Company completed the disposal of its investment in the UK healthcare sector with the sale of companies, businesses and assets at a gross sale value of approximately £34.5m […]
North Atlantic Smaller Companies generated an 11.8% return on net assets for the six months ended 31 July 2015, well ahead of the return on comparable indices such as the S&P 500 which returned 1.7%, the Russell 2000 which returned 2.5% or the FTSE All-Share which returned 0.9%. The share price appreciated by 10.7%. The […]
Pacific Horizon has published results for the year ended 31 July 2015. Over the year the fund delivered an NAV return of -1.6% a bit behind the MSCI All Country Asia ex Japan Index which decreased by 0.9%. shareholders did better however as the share price increased by 2.2% and the discount narrowed from 11.5% […]
CatCo Reinsurance Opportunities has announced that its investment manager, CATCo Investment Management Ltd. has agreed to sell substantially all its assets to Markel Corporation, a U.S. based diverse financial holding company whose principal business markets and underwrites specialty insurance products. Listed on the New York Stock Exchange, Markel has a market capitalisation of approximately $11.5 […]
Pacific Alliance China Land Limited says it has completed the listing and auction process with the Shanghai United Asset and Equity Exchange to sell its minority stake in a large parcel of land in Shanghai which is near to the future Disneyland location. The sale is expected to close by the end of September 2015, at […]
Anglo American Platinum (Amplats), part of the Anglo American group, has agreed to sell its Rustenburg platinum operations to South African gold producer, Sibanye Gold. The total consideration payable is a minimum of R4.5 billion, consisting of an upfront payment of R1.5 billion in cash or shares and a deferred consideration equal to 35% of […]
Crystal Amber has published results for the year ended 30 June 2015. Over the year its NAV rose by 4.6% to 168.26 pence. The dividend increased tenfold from 0.5p to 5p. The total return per share for the year was 5% which compares unfavourably to the FTSE 250 total return of 14.5% and FTSE Small Cap total return of […]
Empiric Student Property is expanding in Exeter with the acquisition, subject to planning, of a site on Bonhay Road, Exeter, for a price of £2.5m. The site is to be developed into a 139 bed new-build premium student accommodation scheme and a forward funding development agreement is expected to be entered into shortly. The Group […]
Cambria Africa has published results for the year ended 31 August 2014 and interims or the six months ended 28 February 2015 and consequently has successfully applied for a restoration of trading in its shares. Key events for the 2014 financial year were: On 8 May 2014, the Company disposed of the Southerton property, which […]
Baillie Gifford Shin Nippon has published results for the six months ended 31 July 2015. It was a great period for shareholders in the fund as the net asset value per share (after deducting borrowings at fair value) rose by 17.0% compared to a 6.1% rise in the MSCI Japan Small Cap Index and the share […]
Glencore has suspended mining at two of its higher cost copper mines – Katanga, in the Democratic Republic of Congo, and Mopani, in Zambia. The operations are expected to remain closed for 18 months until the completion of the expansionary and upgrade projects, which are planned to reduce operational costs. The suspension of these operations […]
Trading Emissions has announced that the arbitration tribunal found in favour of Trading Emissions and the €9m claim brought by Yunnan Dianneng (Group) Holding Co. Ltd has been dismissed in its entirety. The tribunal also awarded TEP reimbursement of both HK$2,750,000 (approximately €320,000) of its direct costs and the sums TEP had paid as a deposit […]
Further to the legal proceedings between the Company and Lonrho Limited, Cambria Africa announces it has concluded a settlement agreement with Lonrho with respect to the claims and counterclaims between the parties, in terms of which, Cambria will receive $4,752,000 in full and final settlement of the Claims. After outstanding litigation and other associated costs, […]
Kuala Innovations Limited has announced the acquisition of a 4.9% interest in the issued shares of UK incorporated private company The Diabetic Boot Company Limited. In aggregate, Kuala has acquired 25,978 ordinary shares of The Diabetic Boot Company at a price of £13.37 per share, for total consideration of £347,324, valuing the whole company at £7.05m. Regent […]
SEGRO has announced that it has appointed CBRE to explore a potential sale of its portfolio of offices on the Bath Road in Slough. The portfolio contains 972,300 sq ft of office properties leased to companies spanning blue-chip, national and international businesses, and one building currently being developed on a speculative basis. The portfolio generates […]
Tritax Big Box REIT has announced that it has exchanged conditional contracts to acquire the land and provide forward funding for the development of a new distribution warehouse facility, pre-let in its entirety to Howden Joinery Group Plc, the parent group of the UK’s leading supplier of kitchens and joinery. The investment price is £67m, […]
Redefine International has announced that it has reached a conditional agreement with the Aegon UK Property Fund to acquire the AUK Portfolio through its wholly-owned subsidiary, Redefine AUK, for an aggregate consideration of £437.2m (£455.7m after costs). This acquisition is conditional upon shareholder approval, for which an EGM will be convened on 25 September 2015. The Company […]
GCP Student Living is expanding its management team with the appointment of Nick Barker, former Head of Alternatives, Property at Schroder Property Investment Management. Previous to this he was Assistant fund manager for Schroder UK Property Fund (SPF), based in London. He joined Schroders in September 2007 following 3 years with Cushman & Wakefield Investors, […]
Condor Gold has initiated a formal strategic review of its business in the light of the relatively low gold price and the lack of appetite for equity financing in the junior exploration sector. The company is a gold explorer which has developed the high grade La India project, in Nicaragua, through to the Pre-Feasibility Study […]
Ludgate Environmental has published results for the year ended 30 June 2015. Its net asset value fell from 66.5p to 60.6p over the period. At an EGM on 1st September 2014 shareholders voted to extend the life of LEF to 30th June 2018 with the expectation that the portfolio would be mostly sold by mid […]
Duke Royalty and Oliver Wyman have announced an exclusive pharmaceutical and healthcare royalty financing collaboration. Oliver Wyman is a management consultancy wholly owned by Marsh & McLennan Companies. Duke Royalty will be responsible for capital raising, the structuring of definitive agreements and the acquisition of each royalty interest originating from the collaboration. Duke Royalty believes […]
Ediston Property Investment Company has acquired three leisure properties for £10m (net of acquisition costs), reflecting a net initial yield of 8.60%. The acquisition was funded from existing cash resources. The properties comprise two units in Liverpool and Hartlepool, which are let to Mecca Bingo, and a third unit in Telford, part of the Southwater […]
Weiss Korea reports an increase in its NAV from 120.4p to 125.27p over the first half of 2015. Including dividends, the Company’s NAV increased by 5.4%, outperforming the reference MSCI Korea 25/50 Capped Index, which returned -0.03%. They paid a dividend of 1.858p during the period. There is no performance attribution information in the announcement. […]
JZ Capital has announced an open offer and placing to raise $150m and a rollover offer of new 2022 ZDPs to replace their existing 2016 ZDPs. The new share capital is being issued on a 9 new shares for every 25 held basis at 419.19p, a 39.7% discount. If shareholders don’t take up shares under the […]
