FMPI has announced its interim results covering the six months ended 30 November 2013. The net asset value returns for the period were 2.9% for the Income shares and 7% for the Growth shares. This compares to a 3.9% return on the FTSE All-Share Index and 3.1% on the FTSE Equity Investments Index. The Board say […]
Hg Capital is acquiring Zenith Vehicle Contracts, one of the UK’s leading independent leasing, fleet management and vehicle outsourcing businesses. In total HGT will contribute £21m to the purchase price (as Zenith is acquired by a range of funds managed by Hg Capital). After this deal, using the figures announced as at the end of […]
Dragon Ukrainian Properties is calling an extraordinary general meeting on 17 February 2014 to put a set of proposals to shareholders. First it plans to make no new property investments, to sell “as quickly and effectively as the Ukrainian property market will allow” the existing portfolio and return the proceeds to shareholders. DUPD also hopes to change […]
LAND’s Q3 statement does not include a new NAV – they only value their properties twice a year – but it does states they have signed £7.3m of lettings in new developments and have a further £7.9m of lettings in solicitors’ hands. LAND have started £243m of new developments at 1 New Street Square and […]
Picton has announced that its net assets increased to £204.3m at the end of December 2013, from £180.3m at the end of September 2013 as the underlying property portfolio increased in value by 3.3% and PCTN raised £11.9m by issuing 22.2m shares at 53.5p. The EPRA NAV per share increased by 6.7% to 53.8p. PCTN […]
Golden Prospect has appointed Keith Watson to work alongside Will Smith as co-manager of the portfolio. Keith was a senior natural resource analyst at Mirabaud Securities and before that had research jobs at Evolution, Dresdner Kleinwort Wassertein, Commerzbank, Credit Suisse/BZW and worked as a portfolio manager and research analyst at Scottish Amicable.
JLIF has made a few minor changes to its investment policy. The fund will in future be able to invest up to 30% in projects under construction (up from 15%). QD comment: investing in assets under construction increases the risk profile of the fund but could increase the return. Invest up to 10% of the portfolio […]
Electra has announced that it has invested £85m in Hotter Shoes. The acquisition will have no immediate impact on Electra’s net asset value. Hotter Shoes is the UK’s largest manufacturer of shoes, has 59 own stores, sells through another 200 outlets and has a large online presence. If you are curious, the easiest thing to […]
Bankers results for the year to the end of October 2013 show a 23.8% uplift in its net asset value and a closing of its discount, enabling a 33.9% share price return to investors and sufficient demand for its shares to allow it to issue 350,000 in the period. This was the first time Bankers has issued […]
NB Distressed Debt is ready to make its first distributions to shareholders. These will be done via compulsory redemptions of shares – $28m in the case of NBDD (the original fund) or $0.2255 per share and $20.9m in the case of NBDX (the continuation fund) or $0.0593 per share. For NBDD the money comes from […]
Between the 30 September 2013 and 31 December 2013 LEF’s NAV fell from 85p per share to 70.8p per share. 5p of the fall reflects a distribution that was made to shareholders, the rest is mainly a reduction in the carrying value of ECO Plastics as LEF changed they way they valued and accounted for that […]
JPEL has secured third parties to buy up t0 84m of its shares at $0.80 per share – a premium to the current share price, it will cease making capital distributions and invest up to $150m in “growth” companies. Having repaid part of its zero dividend finance, cut debt and bought back $20m worth of shares […]
HICL has sold two assets and bought another three, raising £5.8m in the process. the assets sold were HICL’s stakes in the Dorset and Swindon police projects and the assets acquired were the remaining 20% stakes they did not own in the Derby and Newport Schools projects and the Medway police project.
Over the year to the end of October 2013 HDIV’s net asset value increased from 83.3p to 87.9p ( a total return, including income, of 12.0%). The dividend rose slightly from 5p to 5.05p but the Board have said that quarterly dividends will be 1.25p for the current financial year (i.e. back to 5p again). […]
HICL has acquired an 85% interest in the University of Bourgogne PPP (four new academic buildings on the university campus) and a 90% interest in the Troisseruex by pass RD901 PPP (a 7km dual carriageway being built as a bypass for the town of Troissereux near Beauvais). The total outlay for the two projects is […]
Invesco Property Income has confirmed that its sales of an office building in Rozendal Park, Hoeilaart, Belgium (pictured) and another office building in Gerrards Cross, Buckinghamshire have completed. the sales raised €7.96m and £3.21m for the fund respectively (uplifts of €0.16m and £1.47m over previous valuations). The proceeds have been used to repay borrowings. IPI has […]