Bluefield Solar has secured an amended credit facility agreement and has made six acquisitions (three of which were announced in December). The six additional solar photovoltaic plants have an energy capacity totalling 104.5 MWp. The total consideration is £149m, including transaction costs, debt costs and working capital and they are using their new credit facility to fund this. The new credit […]
Drum Income Plus REIT has provided an update that covers the period from its launch on 29 May 2015 to 31 December 2015. The company listed on the London Stock Exchange on 29 May 2015 raising gross proceeds of £31.9m. During the period to 31 December 2015, the company acquired four properties for total of […]
Damille Investments II has announced its annual, results for the year ended 30 November 2015. During the period, the company’s NAV per share fell by 1.2% to 102.15p per share (30 November 2014: 103.35p). The portfolio remains focused on discount opportunities. The company’s shares have consistently traded at a discount during the last twelve months […]
Electra Private Equity has announced that it is reviewing the Company’s investment strategy and policy and its structure. The announcement says that the review “will look at all options for maximising long-term shareholder value” although it does not give additional detail on what these various options might be. However, the board say that they presently […]
Aurora Investment Trust has provided and update regarding change of manager, tender offer and appointment of Corporate Broker. The Company confirms that it has now agreed the provisions of the new investment management agreement appointing Phoenix Asset Management Partners Limited as the Company’s investment manager in accordance with the terms previously announced. The appointment is […]
LondonMetric Property has announced that it has exchanged contracts to sell the Odeon Multiplex Cinema, in Preston, for £10.2m. The sale reflects a net initial yield of 5.75% and the buyer is the Blackrock UK Long Lease Property Fund. The 33,000 square foot property has ten screens and is let to Odeon Cinemas Ltd for […]
Damille Investments II has announced that a redemption offer is to be put forward to shareholders for the financial year ending 30 November 2016. Under the redemption offer, each Shareholder can elect to redeem up to 15 per cent. of their shareholding at a price equal to the unaudited Net Asset Value per Share as […]
HICL Infrastructure has announced that it has made an incremental investment in the Sheffield Schools PFI Project in conjunction with its existing joint venture partner, Kajima Partnerships Limited, from the Kier Group Pension Scheme for a consideration of £4.1m. The HICL Group and KPL have an existing joint venture holding company, in which the HICL […]
River & Mercantile UK Micro Cap, managed by Philip Rodrigs (pictured) has announced its annual results for the period ended 30 September 2015. The trust, which was admitted to trading on the London Stock Exchange on 2 December 2014 having raised £50.6m, has during the ten months to 30 September 2015 grown its NAV to […]
Assura has announced that on 21 January 2016, it acquired Malmesbury Medical Enterprise Limited from its former shareholders Kate Badcock, David Charles, Angela Charles, Nigel Pickering, Janet Pickering, John Pettit, Philippa Pettit, Jaqueline Neale, John Harrison, Pamela Harrison, Thomas Estcourt, Sonia Munnelly & David Grogan (together, the “Sellers”). As part of the consideration payable under […]
Hammerson has announced that it has exchanged contracts with Birmingham City Council to acquire the new Grand Central shopping centre in Birmingham for £335m. The company has also said that it is in advanced discussions, with an existing joint venture partner on other assets, about entering into a 50:50 joint venture for the future ownership […]
Kennedy Wilson Europe Real Estate has announced that it has completed the sale of the Avon Loan Portfolio for £100.3m. The sale is to a UK infrastructure fund and reflects an exit yield of 6.5%. Net cash proceeds amount to £99.1m. The Avon loan portfolio was acquired on June 2014 for £93.5m, reflecting a yield […]
Xtract Resources Plc has completed work on the processing plant at its Chepica gold and copper mine, in Chile, recommended by the Inspector of Mines following a double fatality in the plant on 24 December 2015. The company expects approval shortly to enable the plant to restart. Since the temporary shutdown, the mine has continued […]
The Independent Investment Trust, managed by Max Ward (pictured), has announced its annual results for the year ended 30 November 2015. During the period, the trust produced an NAV total return of 28.1%, outperforming both the FTSE All-Share Index and The FTSE World Index, which produced total returns of 0.6% and 2.6% respectively. In terms of […]
Henderson Smaller Companies, managed by Neil Hermon (pictured), has announced its interim results for the six-months ended 30 November 2015. During the period the company’s NAV total return was -1.0% thereby beating its Numis Smaller Companies (excluding investment companies) benchmark, which fell 3.3% on a total return basis. The Company’s share price total return declined […]
Safestore Holdings has announced its annual results for the year ended 31 October 2015. The company describes it as being a successful year leaving them well placed for future growth. During the year, the company’s basic EPRA NAV per share has increased by 17.4% to £2.56 (2014: £2.18). The company says that Group like-for-like revenue […]
The Board of AEW UK REIT has announced the acquisition of a multi let industrial warehouse located in Brockhurst Crescent, Walsall, West Midlands, an established commercial area located two miles from Junction 9 of M6. Comprising approximately 142,106 sq ft, the property is fully let to Tata Steel UK and Micheldever Tyre Services providing a […]
JPMorgan Senior Secured Loan has announced that it looks as though a 50% tender will be triggered. The Board says it wants to remind shareholders that when JPMorgan Senior Secured Loan was launched its prospectus included a commitment to make a redemption offer giving shareholders the opportunity to redeem up to 50 per cent. of […]
John Laing Capital Management has appointed Gianluca Mazzoni as the Deputy Investment Adviser to John Laing Infrastructure Fund, in charge of Business Development. He will report to Andrew Charlesworth, John Laing Infrastructure’s Investment Adviser. Gianluca, who joins John Laing Capital Management this week, will be dedicated to John Laing Infrastructure and will be responsible for developing new […]
HgCapital, the Manager of HgCapital Trust has announced that it has made a majority investment in Sovos Compliance, a global provider of regulatory tax compliance software. HgCapital is the lead investor, alongside Vista Equity Partners. The terms of this transaction were not disclosed. HgCapital Trust is investing in Sovos alongside other institutional clients of HgCapital, […]
TwentyFour Select Monthly Income has released its annual results for the year that ended on 30 September 2015. Over that period the NAV total return was 0.7%. the share price fell by 6.0% and the company declared dividends totalling 6.53p (ahead of their 6p target for the year). Despite the falling share price, the company […]
Bankers Investment Trust has published results for the year ended 31 October 2015. Over the year the net asset value rose by 5.7%, the share price by 9.9% and the dividend was increased by 6.8% to 15.8p (making the 49th consecutive year of dividend increases). They say all of their major geographic portfolios exceeded their local […]
Project Finance Investments is investing in an asset backed deal secured against UK residential property. It has announced that it is committing to subscribe up to £12m for loan notes issued by Project Finance Investments (UK) Limited, a wholly owned subsidiary of the Company. The proceeds of the Loan Note issue will be used to […]
BlackRock North American Income Trust reports performance just ahead of its benchmark for the year ended 31 October 2015. the NAV total return was 4.9% vs. 4.1% for the Russell 1000 Value Index. The share price total return was 4.7%. The total dividend for the year rose by 7.5% to 4.3p. The Board are asking […]
BlackRock Income & Growth has published its results for the year ended 31 October 2015. Over the year the fund beat its benchmark by more than 10%. The NAV total return was 13.5% and the share price total return 13.5% but the total return on the FTSE All-Share was 3.0%. The dividend for the year […]
British Empire has announced that it is taking on 20 year debt. The company says the Board (headed up by Strone Macpherson – pictured) have agreed to issue 20 year unsecured private placement notes in two tranches. The first tranche is £30m and the second is €30m (equal to £22.6m at the closing exchange rate on 14 January […]
Ecofin Power and Water Opportunities has published results for the year ended 30 September 2015. The value of their portfolio fell 24.0% over the financial year but, due to the effect of the gearing provided by the Convertible Unsecured Loan Stock, Zero Dividend Preference Shares and bank debt, the net asset value per ordinary share declined by […]
The board of BlueCrest AllBlue has provided an update on the continuation proposals for the fund. The board says that having completed its review of manager proposals received by the Company and consulted with its major shareholders, it proposes to recommend the replacement of its existing management arrangements with a mandate given to J.P. Morgan […]
Phoenix Spree Deutschland’s property portfolio was valued by Jones Lang LaSalle GmbH as at 31 December 2015, at €282.8m, up from €245.3m the year before. This represents an increase of 15.3% over the twelve-month period. This increase in valuation reflects yield movement and adjustments due to improved property condition; rental income increases; decreasing vacancy; market rent adjustments; […]
