NSA : Nimrod Sea Assets adds two platform supply vessels Nimrod Sea Assets is spending $24.4m on a 75% stake in two new platform supply vessels (PSVs), $12.75m now and the balance next April when the second of the two boats is complete. They will be chartered and operated by Fletcher Shipping ( designation: FS Cygnus, […]
QIL : Qannas investing in new financial services company Qannas Investments is spending $20.4m to acquire up to 50% of a new financial services company, Integrated Financial Group. Integrated Financial Group is being set up to acquire First Gulf Financial Services LLC (in the course of being renamed Integrated Securities), which is in the business […]
TRIG : Renewables Infrastructure buys Kirkcaldy wind farm The Renewables Infrastructure Group is paying £32m to acquire a 16MW wind farm at Kirkcaldy, Fife, Scotland. The Earlseat wind farm has eight Vestas V90 2.0 MW wind turbines and was grid-connected in June 2014. The farm is subsidised to the tune of 0.9 ROCs per MWh and […]
SREI : Schroder Real Estate may become a REIT Schroder Real Estate has published its interims figures for the six months ended on 30 September 2014. Over that period the net asset value rose by 13.4% to 55.1p on the back of a 12.7% increase in the value of the property portfolio (by contrast the […]
HVTR : Boardroom row at Henderson Value Trust The Chairman of Henderson Value Trust has resigned and given an interview to a Sunday Telegraph journalist following a row in the Board room about whether to publish the results of a report detailing the illiquidity of some of the funds holding (as it approaches the date […]
SLET : Decent returns from Standard Life Equity Income Over the year to the end of September 2014 Standard Life Equity Income managed to beat its benchmark index delivering a total return on net assets of 6.9% and a return to shareholders of 6.3% vs. a 6.1% return on the FTSE All-Share Index. The dividend […]
GLIF : GLI buying out rest of Sancus GLI Finance is to buy out the other shareholders in Sancus in a deal that values Sancus and its portfolio of loans at £37.75m. £17.75m of the purchase price will be paid in 31.4m new shares in GLI Finance worth £17.75m (valuing those shares at 56.5p). GLI will […]
3IN : 3i Infrastructure completes French prison deal 3i Infrastructure has announced that the deal to build a new prison, La Sante, in Paris, that was referred to in its recent interim statement, has now been completed. It will invest €11.7m to take an 80% stake in the project. The La Santé primary PPP project (the […]
GLIF : GLI Finance takes stake in Ovamba Solutions GLI Finance has announced that it is investing $1.28m to take a 20% stake in Ovamba Solutions, an African peer-to-peer business investment platform. Ovamba is the first peer-to-business lending platform in francophone Africa, and also one of the first market lending platforms to offer investment opportunities […]
GPOR : Development activity drives NAV growth at Great Portland Great Portland Estates reported an 11.8% uplift in its EPRA net asset value for the six months ended 30 September 2014 on the back of an 8.9% uplift in the value of the portfolio. earnings per share were up 11.3% to 5.9p and from this they […]
GLIF : GLI says Finexkap secures funding GLI Finance has announced that its French peer to peer factoring investment, Finexkap, has secured funding of $22.5m ($7.5m in series A equity and $15m to finance lending). Following the transaction GLI has a 26.4% stake in Finexkap. The other external investors in Finexkap now include Finsight, a […]
HFEL : Henderson Far East Income fails to match benchmark Henderson Far East Income, managed by Michael Kerley (pictured), has reported a total return of 11.2% on net assets for the year that ended on 31 August 2014, underperformance of its peer group, which returned 12.1%, and its benchmark (the FTSE All World Asia ex Japan […]
BBOX : Tritax Big Box buys Doncaster distribution centre Tritax Big Box REIT is buying The Range UK National Distribution Centre at Nimbus Park, Thorne, Doncaster for a purchase price of £48.5m (a net initial yield of 6.1%). Thorne is about 7 miles to the north east of Doncaster town centre, adjacent to the M18 motorway and […]
III : 3i continues to shrink private equity portfolio 3i’s net asset value rose by 10p to 358p over the six months that ended on 30 September 2014 and, in addition, it paid a 13.3p dividend to shareholders in July – this works out at a total return for the period of 7.1%. It plans […]
CGT : Capital Gearing hails positive performance Over the six months that ended on 5 October 2014 Capital Gearing managed to deliver growth in its net asset value of 1.2%. The Chairman says “A 1.2% return is not a cause for wild celebration; however in an environment of overinflated asset prices and significant macro-economic and […]
WKP : Workspace posts 20% rise in NAV Workspace has announced its results for the six months ended 30 September 2014. they say that over this period the EPRA NAV is up 20% to £5.97 from £4.96 on a 15% increase in property values. Earnings per share rose 27% to 8.4p and from this they […]
SGRO : SEGRO sells £153m logistics portfolio SEGRO has sold a logistics portfolio, comprising six logistics properties and a smaller regional warehouse for £153.3m – 3% more than the value of the properties in SEGRO’s accounts at the end of June. The portfolio was capable of generating £11.2m in rents. The 185,331 sq m portfolio comprises […]
MCP : Martin Currie Pacific underperforms in transitional period Martin Currie Pacific said the MSCI Asia ex Japan index rose by 8.65% over the six months that ended on 30 September while the company’s NAV on a total return basis increased by 6.69% and the share price by 10.52%. The company changed its mandate during […]
LAND : Land Securities beats IPD in busy six months Land Securities has generated an 11.5% uplift in net asset value and a 7.5% uplift in earnings per share over the six months that ended on 30 September 2014. The ungeared return on property was 9.9% – ahead of the 9.3% return on the IPD […]
KWE : Kennedy Wilson Europe buys in Buckingham Palace Road Kennedy Wilson Europe says it has bought the company that owns 111 Buckingham Palace Road, Victoria SW1 for £207.5m, which equates to a yield of 5.1%. 111 Buckingham Palace Road is a 227,165 sq ft landmark, Grade A London office building. It is fully occupied with a […]
BIOG : Another great period for Biotech Growth Trust Biotech Growth Trust beat its benchmark over the six months that ended on 30 September 2014 delivering a return on net assets of 20.3% vs. a return on the NASDAQ Biotechnology Index of 19.1%. The share price return was 21.4%. Top contributors to performance in the […]
CGW : Chelverton Growth Trust driven by uplift in unquoted holdings Over the year to the end of August 2014 Chelverton Growth Trust generated outperformance over the MSCI Small Cap UK Index with a total return on net assets of 14.5% vs. a 7.5% return on the index. The company’s rating improved dramatically (from a discount […]
BSRT : Baker Steel set for massive expansion Baker Steel Resources Trust, which at close of business on Friday 7 November had a market capitalisation of £19.8m and was trading at a discount of 47.2%, has announced details of a considerable expansion of the fund via 1) a stock swap of investments for new equity […]
BC12 : Better Capital buys Walkabout Better Capital 2012 cell has bought all the debt facilities of iNTERTAIN and its subsidiary companies. iNTERTAIN was set up in 2009 to acquire the trading assets of Regent Inns and now owns a chain of bars across the UK, most of which trade as Walkabout. iNTERTAIN made a £3m […]
WKP : Workspace buys in Fleet Street Workspace Group is acquiring 160 Fleet Street for £29.7m. They describe it as “a beautiful Portland stone period building, originally constructed in the 1920’s and entirely refurbished in 2009 to include a new reception, gym, breakout areas and a dedicated suite of meeting rooms”. the building has 54,000 […]
BTEM : British Empire hedges yen exposure British Empire Securities delivered a return on net assets of 6.8% over the year to 30 September 2014 – ahead of the 5.1% return on the company’s benchmark (MSCI All Country World ex-US Index). Shareholders also saw the discount narrow resulting in a return to them of 8.9%. […]
TCA : Terra Capital changes to management arrangements The management fee payable to the Investment Manager shall be reduced with effect from 1 January 2015 from 2 per cent. per annum of the net asset value of the Company to 1.25 per cent of the net asset value of the Company and the level of […]
POL : Polo Resources invests in Weatherly International Polo Resources is investing in copper miner, Weatherly International. Weatherly is an AIM traded mining development and exploration company focusing on copper in Namibia. Weatherly’s copper portfolio includes the following assets in Namibia: two mines named Otjihase and Matchless which are in production; Tschudi – an open […]
GPOR : Great Portland Estates sells 12/14 New Fetter Lane Great Portland Estates is selling its leasehold interest in 12/14 New Fetter Lane (London EC4) for £165.8m. The sale price works out at a yield of 4.5%. The 142,500 sq ft office building is still under construction (supposed to be finished in Q4 2015) and […]
EPIC : Ediston Property buys initial portfolio Ediston Property, which listed on 28 October, has announced that it has completed the purchase of its initial property portfolio for £76.7m. The portfolio comprises, offices at 145 Morrison Street, Edinburgh; Offices at St Philips Point, Temple Row, Birmingham; Offices at Phoenix, Station Road, Reading; a retail park in Rhyl, […]
