Middlefield Canadian Income is asking shareholders to approve a change to its investment policy to allow it to invest up to 40% of its portfolio outside Canada (up from 20%). They say most of this extra freedom will be used to invest in the US – there will be a limit of 10% on investments […]
GCP Infrastructure has announced that it is committing up to £25m to loan notes with about a ten year life that will be issued by GCP RHI Boiler 1 Limited. The loan will be secured against a portfolio of domestic biomass boilers. £4m will be drawn down at the start of the arrangement and the […]
BlackRock Income & Growth has published its results for the year that ended on 31 October 2014 and over that period the fund outperformed the FTSE All-Share Index, generating a return on net assets of 6.3% against a 1% return for the FTSE All-Share Index. the discount widened slightly and so the return to shareholders […]
Riverstone Energy is committing $125m towards the creation of a new $375m fund, Riverstone Credit Opportunities, L.P., which has been set up to take advantage of the lack of credit available for energy companies. The fund will be advised by Riverstone’s credit investment team, led by Christopher Abbate and Jamie Brodsky, both of whom joined […]
Further to the Company’s announcement of 19 December 2014, following the downgrading of the Company’s rating by the rating agencies ‘Midroog’ (a subsidiary of Moody’s Investor Services) and ‘Maalot S & P’ (a subsidiary of Standard & Poor’s Rating Services), Mirland has announced a change in its interest rates on its bonds. From 18 December 2014, […]
British Land has announced the sales of a retail and office portfolio in an off-market deal to Legal & General Property for £219.6m, ahead of September book value. The portfolio comprises: – Kingswood Retail Park, Hull (sold for £58.0m, at a 5.7% net initial yield) – House of Fraser, Birmingham (sold for £71.4m, at a […]
The board of Scottish Mortgage has announced that Tom Slater has been appointed joint manager of the fund, working alongside James Anderson. Tom has been Deputy Manager of Scottish Mortgage since 2009. Tom graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000. He joined Baillie Gifford the same year and worked in […]
CatCo Reinsurance has announced that, after a year where there were no significant calls on the reinsurance they had written, they are planning to make a 10% return of capital to shareholders. This comes on top of a 5.929 cent dividend. The capital return will be done by way a of a B share scheme and […]
NextEnergy Solar has announced the acquisition of a solar power plant on Boxted Airfield, a site owned by Colchester Council, in the village of Langham about 3 miles from Colchester in Essex. The plant is being built on the former RAF Boxfield site and is due to be completed by March 2015. They expect it will attract […]
A happy New Year to all the readers of the QuotedData website. We have been really pleased by the interest and enthusiasm in our site over the course of 2014. The readership has grown as the website has evolved. We have great plans for 2015 and, as ever, if you have any comments or suggestions, […]
As we noted on 29 December, ARC Capital has been requisitioned by a party connected to its fund manager. PAG Holdings owns just over 50% of ARC’s shares but hasn’t announced a bid for the company despite ARC adopting the Takeover Code (which would normally force anyone owning more than 30% to bid for the […]
For the six month period to 31 October 2014, Schroder UK Growth’s NAV saw a total return of -6.3%, while the share price returned -8.8% and the discount widened from 5.2% at the beginning of the period to 7.8% at 31 October 2014. These performance figures compare poorly with an equivalent return of -1.6% by the […]
In its results announcement released on Christmas Eve, JPMorgan Asian reported underperformance of the fund’s benchmark and a widening of its discount. The Board have held talks with JPMorgan and are anxious that performance improves over 2015. They will hold a continuation vote in 2016 and the statement reads as though the Board would recommend […]
ARC Capital has announced that 0n 24 December 2014 it received a requisition from Cielo Overseas Limited, an associate of PAG Holdings Limited requiring the Company to call a general meeting of ARC’s shareholders. At the meeting shareholders will be asked to vote on the appointment of three new directors and the removal of Helen Wong, Steve Feniger, and […]
The appointment of administrators at City Link, an investment in the Better Capital 2012 cell, was reported by the media over Christmas. The announcement released today by Better Capital says that they hope that they will recover just shy of £20m from the administration. This is equivalent to the value that they placed on the […]
Intu Properties is buying Puerto Venecia shopping centre and retail park in Zaragoza for €451m. The price equates to an initial yield of 5% (based on rental income of €22.4m). €225m of the cost will be funded by a term loan supplied by HSBC (interest rate of 3.5%) and the balance will come from Intu’s own […]
Tejoori has published its results for the year ended 30 June 2014 – some time ago now. The net assets attributable to shareholders rose from $25.97m to $26.89m. The money they have in Wakala deposits attracts a profit rate of 5% per annum. The larger part of the increase in the value of the company […]
GCP Infrastructure has completed a £12.3m investment in a loan note issued by GCP Social Housing 1 Limited. £1.4m of this money has already been committed and the rest will be deployed over the next five months. The loan note has a life of 35 years and will be used to provide a loan facility secured on […]
Starwood European Real Estate is providing £45m towards the £200m refinancing of the Aldgate Tower, a new Grade A office building located in the City of London. The terms of the loan have not been disclosed but Starwood say “The loan’s interest rate is part fixed with part floating over 3 month LIBOR. The Company expects […]
Electra Private Equity has announced that Axio Data Group, one of the companies it owns, has sold a specialist logistics intelligence business, Breakbulk, to ITE, the exhibitions group, for £10m. With this deal Electra has taken £76m in cash out of Axio, a business it paid £91m for in 2013, yet Axio still owns five other […]
Fair Oaks Income Fund has announced that it has exercised its right as majority holder of the Income Notes in T2 Income Fund CLO I Ltd to redeem all of the notes of T2 CLO. they say the liquidation of the remaining assets in T2 CLO is well underway with the vast majority of assets sold in […]
Empiric Student Property has bought the Algernon Firth student accommodation block in Leeds for £7.2m. Algernon Firth has 111 beds arranged as a mixture of en-suite flats and loft-style studios. The apartments sit within in a Grade II listed building that was originally built for the University of Leeds in 1933 and is named after Yorkshire Industrialist, […]
Globalworth has expanded its presence in the Bucharest office market with the acquisition of the Unicredit Building for €43m. The Unicredit Building is a landmark, class-A office property completed in 2012 and entirely leased to Unicredit Tiriac Bank, part of Unicredit Group, on a long term basis. It is located in in the north part […]
Next Energy Solar is buying two more plants – the 20.0MWp Cock Hill solar power plant and the 8.0MWp Llwyndu solar power plant. The Cock Hill plant is located in Wiltshire, and is to be accredited under the 1.4 Renewable Obligation Certificate (“ROC”) regime. They say construction of the plant has already begun, with internal roads […]
Kennedy Wilson Europe is spending £503m to acquire a portfolio of 180 mixed use properties all of which are in receivership and all of which were financed by Aviva Commercial Real Estate Finance. the money is coming in part from KWE’s cash resources and part from a £352.3m secured facility provided by Aviva Commercial Real […]
Geiger Counter’s results for the year ended 30 September 2014 show the net asset value falling from 31.3p to 26.9p and the share price flat at 24.75p. The Uranium price has improved (it was $43 when they wrote their statement, having touched a low of $28) and they believe this is a reflection of where […]
RIT Capital has announced that it is buying GVO Investment Management (GVOIM), the investment manager for Strategic Equity Capital (SEC) and is also taking a stake in that fund. The announcement says GVOIM will continue to operate as a separate legal entity with the same autonomous management team, structure and investment process. Stuart Widdowson and […]
Mirland has released a statement this morning describing the effects of the collapse in the value of the Rouble vs. the US dollar on their business. they say “the extreme currency devaluation may have severe implications on the ability of tenants to meet their obligations and thus affect the Company’s financial results and liquidity”. Mirland […]
Trinity Capital’s net asset value fell from 13.4p to 9.4p over the six months that ended on 30 September 2014. 2.5p of that fall related to a distribution that the company made to its shareholders. 1.3p of the fall relates to losses (both realised and unrealised) on the fund’s investment in SKIL Infrastructure. Today the […]
GCP Infrastructure has published its annual results for the year ended 30 September 2014. The return to shareholders over that period was 15%. 7.6p of that came as dividends. The fund expanded quite a bit (by £170m) over the year and since the year end. The manager says that certain areas of the infrastructure market […]
