Castelnau Group (CGL) announced that further to the issue of new ordinary shares in connection with its acquisition of Dignity, announced on 5 May 2023, the company will issue a further 7,479 ordinary shares in connection with the listed share alternative pursuant to the statutory squeeze out. The board of Strategic Equity Capital (SEC) has […]
Twentyfour Income Fund (TFIF) announced its annual report for the year end 31 March 2023. NAV for the year fell 10% while shares fell 6%. Discussing the performance for the period, the investment manager noted the following; “The company started the reporting period just after the invasion of Ukraine by Russia, meaning the risk sentiment […]
Digital 9 Infrastructure (DGI9) has provided a company update on its recent and ongoing activities. The key highlights from the report were: Considerable investor interest in equity syndication Continued evaluation of additional complementary sources of growth capital Reaffirmed target aggregate dividend of 6.0 pence per ordinary share for the year ending 31 December 2023 Operating […]
Brunner Investment Trust (BUT) provided an update for the six month period to 31 March 2023. NAV per share increased by 1.6% compared to a benchmark return of 0.3% while shares were up 2.3%. Management sited a strict focus on valuation as one of the factors that allowed the company to avoid some of the […]
BB Biotech should be able to report a significant increase in NAV tomorrow as a result of a positive trial outcome – with a corresponding c.25%increase in share price – by one of its largest holdings, the US-listed, Belgian company Argenx. The news represents an important fillip for the Swiss investment company, which has seen […]
Gore Street Energy Storage Fund (GSF) has released its annual results for the financial year ending 31 March 2023. Over the 12 month period GSF’s NAV increased by 47.8%, to £556.3m. Its NAV per share increased by 5.9%, to 115.6p per share. This reflects a NAV total return of 12.3% and 48% since 31 March […]
Ruffer Investment Company (RICA) has released its annual results for the financial year ending 30 June 2023. Over the 12 month period RICA generated a NAV total return of -1.7%, and share price return of -7.2%. The drivers behind RICA’s negative financial year returns were its use of protections strategies and derivatives, with its equity […]
In QuotedData’s morning briefing 17 July 2023: Cordiant Digital Infrastructure (CORD) has announced that its portfolio company, Emitel S.A, has refinanced its senior loans, securing €353m in financing which matures in 2030. The new facility was 1.6 times oversubscribed, with a blended rate lower than the 2.9% of its current senior facilitates. The new loans […]
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: • Hipgnosis Songs Fund (0:22) • ThomasLloyd Energy Impact (10:43) • US Solar Fund (5:12) This week’s interview was with David Smith from Henderson High […]
Having been one of the few ports in the storm of 2022, it has been a dismal start to the year for infrastructure trusts. Every fund across the three main infrastructure sectors – infrastructure, infrastructure securities and renewable energy infrastructure – is down in share price terms for the year to date. For some of […]
In QuotedData’s morning briefing 14 July 2023: Dunedin Income Growth (DIG) has renewed its £30m multi-currency revolving credit facility with Bank of Nova Scotia London Branch, which will now expire on 11 July 2024. Under the terms of the facility, DIG also has the option to increase the level of the commitment from £30m to £40m at […]
Riverstone Credit Opportunities Income has announced a successful amendment and extension of its investment in Streamline Innovations, a leader in environmentally-advanced treatment solutions for the removal of hydrogen sulfide (H2S) from energy, renewable fuels, wastewater, and industrial processes. The company realised about $2.0m of profits at closing of the amendment and extension resulting in a […]
ThomasLloyd Energy Impact has received a notice from certain entities and funds which hold shares in the company and are affiliated with ThomasLloyd Global Asset Management (Americas) LLC (the investment manager) requisitioning a general meeting of shareholders. The meeting is required to be convened within 21 days of the requisition and to be held on […]
Hipgnosis Songs Fund has published results for the year ended 31 March 2023. The independent valuer has left the discount rate used to calculate the fund’s NAV unchanged at 8.5% [some commentators will question the logic behind this given how far interest rates have risen. Given the complexities of valuing the fund and working out […]
Downing Renewables and Infrastructure has acquired a Swedish Electricity Distribution System Operator, Blåsjön Nät AB for about £7m. The deal involves the purchase of 100% of the share capital in Blåsjön, a regulated electricity distributor, which delivers 16-18 GWh per annum of electricity through medium and low voltage lines to its 1,547 domestic and business […]
Jupiter Green Investment Trust has published results for the year ended 31 March 2023. In NAV terms the trust delivered a total return of -0.4%, outperforming the wider Global Small Cap index, which returned -3.1%. Shareholders benefited from an improved rating as the discount narrowed from 18.7% to 13.4%, the share price delivered a +6.7% […]
CT UK High Income has announced that David Moss will succeed Philip Webster as its portfolio manager with immediate effect. The investment policy and objective will remain unchanged. David has worked at the investment manager (which became part of Columbia Threadneedle Investments in 2021) for 25 years, and is currently the head of European equities […]
Seraphim Space has authorised a share buyback programme. It hasn’t said how big that will be except to say that it wouldn’t use all of its permission to buyback up to 14.99% of the company. Neither has it set a discount target. [Nevertheless, shareholders will be pleased to see the board take some action to […]
In QuotedData’s morning briefing 13 July 2023: Round Hill Music (RHM) says that its Q1 2023 revenue was 94% higher year-on-year to $10.2m We also have results from Jupiter Green and Hipgnosis, an acquisition by Downing Renewables, a new manager for CT UK High Income, an update from Seraphim Space
ThomasLloyd Energy Impact has provided a valuation update relating to the status of its Rewa Ultra Mega Solar Park Project which led to the suspension of the fund’s shares back in in April. We have written about the situation that has unfolded over the last few months here, and here. The update relates to the […]
Artemis Alpha Trust (ATS) announced its annual results for the year end up to 30 April 2023. During year NAV per share rose by 1.3% and its share price fell 1.2% (on a total return basis). In comparison the benchmark FTSE All- Share Index rose by 6.0%. The second half of the year showed a […]
Cordiant Digital Infrastructure Limited (CORD) announced that its portfolio company, České Radiokomunikace has signed a new 15-year contract with an existing customer, the blue-chip mobile operator T-Mobile for the lease of space on CRA’s telecommunications tower portfolio. The new contract replaces and expands the scope of the existing contract with T-Mobile. Under the previous arrangements, […]
JLEN Environmental Assets Group (JLEN) announced its investment up to the value of €9.2m into the company’s second green hydrogen development opportunity, in Germany, alongside a consortium including other Foresight managed funds and its development partner HH2E, a specialist in developing green hydrogen projects to decarbonise industry. The green hydrogen production site is located in […]
Miton UK Microcap Trust (MINI) announced its annual results for the year ended 30 April 2023. Miton struggled throughout the year in what remains a challenging environment for small and micro caps. NAV fell 30% and shares 31%. In contrast, the Numis 1000 Index was down 11.2% during the same period. Despite the performance, the […]
Riverstone Energy (RSE) has announced that one of its portfolio companies, Anuvia Plant Nutrients, has ceased operations and is undergoing liquidation. The company invested US$20 million in Anuvia in March 2022, with its investment being written down to US$14 million at the time of its Q1 2023 quarterly portfolio valuations. Anuvia is in the process […]
In QuotedData’s morning briefing 10 July 2023: Castelnau Group (CGL) has announced that it has purchased a 25% stake in Warlord Games, a historical table top wargame maker, through one of its portfolio companies, Hornby Hobbies. The transaction was made for £1.25m in cash. CGL has the option to become the majority shareholder in Warlord […]
As I write this, the outlook for the UK equity market looks particularly depressed. As I discussed in my QD view “Bargain Britain” two weeks ago (click here to read), inflation in the UK has remained stubbornly high, which was somewhat of a surprise to many commentators who had expected to see signs of this […]
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: • Fondul Proprietatea (0:46) Andrew McHattie looked at why Hansa Trust and emerging markets funds were rising while growth focused funds continued to slide over […]
Fondul Proprietatea (FP.) has announced that, based on the preliminary data held by AIFM (Franklin Templeton International Services S.À R.L.), there is a high probability that the next reported NAV will be at least 5% lower than the most recent NAV as of 31 May 2023 (which was published by the fund on 15 June […]
In QuotedData’s morning briefing 7 July 2023: GCP Asset Backed Income (GABI) has extended its £50m revolving credit facility (RCF), with Royal Bank of Scotland International Limited, that was due to mature in August 2023, by 12-months to August 2024. The terms are the same as for the previous facility. The current drawn balance on […]
