Cordiant Digital Infrastructure (CORD) announced that it has entered into an agreement to acquire the entire issued share capital of Speed Fibre, Ireland’s leading open access fibre infrastructure provider. Speed Fibre is being acquired from the Irish Infrastructure Fund for a total enterprise value of €190.5m. The equity consideration of €97 million will be funded […]
Ruffer Investment Company (RICA) has announced that it has undertaken a share buyback. Ordinarily, with just 150,000 shares or 0.039% of its issued share capital repurchased, this wouldn’t be of much interest to investors but this is the first time in its 19-year life (it was launched in 2004) that the multi-asset fund has undertaken […]
GCP provided a second-quarter update for the period ended 30 June 2023, which highlighted a further 2% fall in NAV. The primary driver of this movement was the increase in discount rates, which was applied across the portfolio’s three sectors: supported living, PFI, and renewable energy. The increased discount rates reflect the current higher inflation […]
Riverstone Energy Limited (RSE) announced that it has entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. CT Private Equity Trust (CTPE) announced its results for the half year ended 30 June 2023. Share price total return for […]
In QuotedData’s morning briefing for 22 August 2023: abrdn European Logistics Income (ASLI) provided a NAV update for the quarter ending 30 June 2023. Its NAV per share fell by 2.8%, from 111.2c (97.7p) per share to 108.3c (92.9p) per share. This was equivalent to a -9.6% NAV total return over the period, accounting for […]
The board of US Solar Fund (USF) has today announced its preferred candidate to replace New Energy Solar Manager, USF’s outgoing investment manager, proposing Amber Infrastructure Group as its successor. The selection of USF’s new manager will still require shareholder approval, with consultations expected to be announced shortly. Amber is a specialist international infrastructure investment […]
In QuotedData’s morning briefing 21 August 2023 The Renewables Infrastructure Group (TRIG) has announced that is has deposed of three of its onshore wind farms. The sites are located in Ireland and were sold at a combined consideration of c. €25m, a 26% premium to their last valuation which was made on 31 December 2022. […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Thomas Lloyd Energy Impact (0:57) • Riverstone Energy (18:40) • Bluefield Solar (22:25) • NextEnergy Solar (27:16) • Ediston Property (30:16) • Empiric Student […]
Real estate is certain to remain unloved until interest rates have peaked or start to move downwards. The latest inflation data indicates that that point may not be that far off, so now may be the opportune time to pick up a well-run property company on the cheap. The vast majority of the sector is […]
Empiric Student Property is exploring bringing on board a joint venture partner to grow its portfolio of student accommodation. The company, which reported strong half-year results yesterday, said in an analyst briefing that it had engaged PwC to look at options to expand its portfolio. Chief executive Duncan Garrood said that traditional methods of growing […]
In QuotedData’s morning briefing on 18 August 2023: Impact Healthcare REIT (IHR) has purchased a new £50m interest rate cap, which caps SONIA at 4.0% for two years expiring on 15 August 2025, at a cost of £1.76m. The group has now hedged or fixed the interest rates on 92% (£175m) of its current drawn […]
Hg, the manager of HgCapital Trust has agreed to sell part of its investment in TeamSystem, a leading provider of business software solutions to businesses and accountants in Italy and Spain. As part of the transaction, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and CapitalG, Alphabet’s independent growth fund, have entered […]
Riverstone Energy has built up a cash balance of $123m and plans to use about $100m (£80m) of that to fund a tender offer. The company will buy back up to 13,840,830 shares at 578p per share. That is the equivalent of 30.4% of the company’s issued share capital. The tender price is equal to […]
Another day, another announcement in the dispute between board and manager of ThomasLloyd Energy Impact. Here is the board’s riposte to yesterday’s statement by the manager. The board of the company (the “board”) notes the announcement on 16 August 2023 by ThomasLloyd Group Limited (“TLG”) and its subsidiary ThomasLloyd Global Asset Management (Americas) LLC (the […]
Bluefield Solar has announced its end June NAV and it has risen from 139.1p to 139.7p. There are a lot of moving parts that drove this: Bluefield Solar has increased its discount rate by 0.75% to 8.0% and this took 4.9p per share off the NAV. Even though power prices have fallen, the fund was […]
NextEnergy Solar has published its end June 2023 NAV. The NAV has slipped to 109.3p from 114.3p over the second quarter of 2023. The most significant factor in this was a decision to increase the discount rate used to value NESF’s future cash flows by 0.75%, to reflect higher interest rates. The company has also […]
In QuotedData’s morning briefing 17 August 2023: In its final set of annual results (before it is absorbed by Asia Dragon), abrdn New Dawn (ABD) returned -6.8% in NAV terms for the 12 months ended 30 April 2023, and -7.3% in share price terms, both lagging the -5.2% return generated by the benchmark MSCI AC […]
The following rebuttal to yesterday’s announcement by the board of ThomasLloyd Energy Impact has been posted on the investment adviser’s website. The Investment Manager, together with ThomasLloyd Group Limited, refute the material inaccuracies and unsubstantiated allegations contained in the announcement made by the board of directors of ThomasLloyd Energy Impact Trust plc on 15 August […]
Global Opportunities Trust (GOT) announced its half year report for the period ended 30 June 2023. The company’s NAV decreased by 0.2% while shares increased by 2.2% reflecting a slight narrowing of the discount to NAV which sat at 17% at the last close. During the period, the company also terminated its investment management agreement […]
A further update has been made regarding ThomasLloyd Energy Impact Trust (TLEI), as new information has come to light under the protections of the company’s whistleblowing policy. The update appears to reveal that ThomasLloyd Global Asset Management (the Investment Manager) was aware of material information relating to the RUMS Project by August 2022. According to […]
Schroder UK Mid Cap (SCP) announced the appointment of Harry Morley as an independent non-executive director of the company, effective from 1 September 2023. Mr Morley has also been appointed a member of the Audit and Risk, Management Engagement, Nomination, and Remuneration Committees. Witan Investment Trust (WTAN) released its half year results for the period […]
Tritax EuroBox has signed two new leases across its continental European logistics portfolio, adding €1.3m of rental income. The first is the 14,150 sqm letting of Unit 1 of the speculatively developed Settimo asset in Italy to a “leading Italian logistics specialist”. The letting comes just three weeks after practical completion of the 28,300 sqm […]
ThomasLloyd Energy Impact (TLEI) has confirmed that it received a notice from certain entities and funds which hold shares in TLEI and are affiliated with ThomasLloyd Global Asset Management to requisition a general meeting within an agreed timetable. This is in addition to the general meeting announcement made on 12 July. In practice this may […]
In QuotedData’s morning briefing 14 August 2023 SEED Innovations has announced that it has made a further £216,000 investment into Clean Food Group, which offers sustainable oils and fats solutions. This investment is part of a £2.3m fundraise by Clean Food Group to accelerate its growth. This funding round will value Clean Food Group at […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • GCP Infrastructure / GCP Asset Backed Income / RM Infrastructure (0:40) • Nippon Active Value / Atlantis Japan Growth (13:56) • HydrogenOne Capital Growth […]
As we have noted on several occasions over the past few months, despite poor share price returns, the underlying fundamentals of the renewable energy sector remain strong, particularly for those companies benefitting from inflation-linked subsidies and exposure to wholesale power prices. In many cases, these tailwinds have more than offset the adverse impact of rising […]
For some time, the trajectory of renewable energy infrastructure trusts appeared inexorable: the march to decarbonisation was inevitable, government backing a given and the regulatory environment supportive. However, in spite of some significant financial backing for renewable energy development, global governments appear to be wavering on their commitment to net zero, and the public backlash […]
ThomasLloyd Group Limited (TLG), the manager of ThomasLloyd Energy Impact Trust (TLEI) has issued a statement refuting a number of allegations made by TLEI’s board in regards to TLG’s recommendation that shareholders vote for continuation in the upcoming vote. In contrast, TLEI’s board is suggesting shareholders vote against continuation. TLG, through its affiliates, is the […]
Atlantis Japan Growth (AJG) and Nippon Active Value (NAVF) have both announced this morning that their boards have agreed heads of terms for a proposed merger of the two trusts with AJG rolling over into NAVF. Similarly to the abrdn Japan (AJIT) scheme, which is already underway, the transaction would result in a larger company […]
The boards of both GCP Infrastructure Investments (GCP Infrastructure) and GCP Asset Backed Income (GABI) have agreed terms for a merger of the two funds. Under the proposals, the merger will take effect via a solvent winding-up of GABI and the transfer of its assets to GCP Infrastructure in exchange for the issue of new […]
