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QuotedData’s other news 28 June 2019

In QuotedData’s other news 28 June 2019

  • Origo Partners results to end December 2018 (ancient history now) show its NAV halving from 3.9 cents to 1.8 cents, down to: – (i) write offs of the company’s investments in Celadon, Gobi Coal, Staur Aqua, Fram, Six Waves, and Unipower; (ii) realised losses from the company’s sale of its investments in Kincora Copper and Niutech; and, (iii) the costs of administering the company, including ongoing running costs and extraordinary costs such as termination payments and legal fees.  The board has terminated its contract with the investment advisor, Origo Advisors for cause, sold Kincora Copper and Niutech for cash, fenced with the former directors in an effort to recover the company’s records, and retained lawyers in several jurisdictions to analyse legal issues in connection with the dissipation of shareholder value referred to above.
  • Riverstone Energy is investing $100m in an Argentinian shale oil company, Aleph Midstream S.A. Starting in January 2020, Aleph plans to begin providing certain midstream services to support Vista’s Bajada del Palo Oeste shale development in Vaca Muerta, as well as its existing conventional and future unconventional production in the Neuquina Basin.
  • Alcentra European Floating Rate’s results for the year ended 31 March 2019 show the NAV per share decreasing from 104.55p as at 31 March 2018 to 103.61p as at 31 March 2019.  The company declared and paid dividends of 4.46p  and, subsequent to the period end, declared and paid a further dividend of 1.13p.
  • Big Yellow has bought a 6.4 acre site in Harrow, North London, for £20m. The land has the benefit of an outline planning consent and Big Yellow will therefore make a reserved matters planning application for a 78,000 sq ft self storage centre and for approximately 110,000 sq ft of warehouse space. Upon receipt of planning the company will decide how to deal with the 5 acres of land which will be surplus to requirement.
  • Kubera Cross Border will distribute $19,752,178 to shareholders with a 18 cent per share payment on 19 July.
  • invesco Income Growth returned 5.47% over the year to the end of March 2019, lagging the All-Share Index which returned 6.4%. A widening discount left shareholders with a return of 1.2%. The dividend was raised by 3.6% to 11.45p.

Also we have results from Aberdeen New Dawn, Symphony investment, MINT, has sold three hotels, Target Healthcare has bought a care home in Nottingham, TRIG has bought a number of French wind farms, and Woodford Patient Capital’s board has made a statement.

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