Edison Investment Research

EJF Investments (EJFI); report total NAV of £121.8m

A dividend of 2.675p per share was announced in July 2019

EJF Investments reported its half-year results today. For the six months ending 30 June 2019 total NAV stood at 189.73 pence per share. The redemption of investments in TruPS Financials Note Securitization 2017-1 Ltd resulted in cash distributions of £27.2m, with realised gains amounting to £10.4m. A dividend of 2.675p per share was announced in July 2019.

Entertainment One (ETO); to be acquired by Hasbro

This acquisition is expected to be accretive to adjusted EPS in the first year following the transaction

Hasbro and Entertainment One announced that they have entered into a definitive agreement for the acquisition of Entertainment One by Hasbro in an all-cash transaction valued at approximately £3.3bn or $4.0bn. According to the terms of the agreement, Entertainment One shareholders will receive £5.60 in cash for each common share. This represents a 31% premium to the company’s 30-day volume weighted average price (VWAP)

Target Healthcare (THRL); acquires two care homes in Ripon and Stourport for £18.6m

The Moors Care Centre in Ripon is fully operational with 70 bedrooms and current rent cover in excess of 2.0x

Target Healthcare has completed the acquisition of two properties in Ripon, Yorkshire, and Stourport, West Midlands, for c. £18.6m, including transaction costs. Both properties are well-equipped care homes with 100% en-suite wetrooms.

Hutchison China Meditech (HCM); initiates Phase I trial of HMPL-523 in China

Hutchison China MediTech has initiated a Phase I study of HMPL-523, its novel spleen tyrosine kinase (Syk) inhibitor, in patients with immune thrombocytopenia (ITP), an autoimmune disorder that can lead to increased risk of bleeding. The first ITP patient was dosed on 12 August 2019 in China.

Finsbury Growth & Income Trust (FGT); issues 150,000 new shares

Following the issue, the company has gained the ability to issue 9,459,341 more ordinary shares

Finsbury Growth & Income Trust has issued 150,000 new ordinary shares of 25p each in accordance with its placing programme at a price of 927.75p per share. The shares rank pari passu with the existing ordinary shares in issue. The issue price equates to a premium to cum income NAV per share at the time of the transaction of 0.7%. Such a premium includes a placing commission of 0.2%.

PJSC TransContainer (TRCN); net profit up 90.1% YoY for H1 2019

Container transportation volumes grew by 7.1% to 1,002 thousand TEU

PJSC TransContainer issued its management report together with its reviewed interim condensed consolidated financial statements for the six months ended 30 June 2019 today. The total revenue for the six months of 2019 increased to RUB 41,472m (up 17.4% YoY). Adjusted revenue grew 32.0% YoY to RUB 18,537m, largely as a result of an 11.2% increase in revenue-generating container transportation volumes.

John Laing Group (JLG); PBT at £35m for H1 2019

John Laing Group announced its results for the six months ended 30 June 2019. NAV stood at £1,599m or 325p per share, while portfolio value was £1,535m as of 30 June 2019. EPS stood at 7.1p and the interim dividend was 1.84p per share payable in October 2019.

Silence Therapeutics (SLN); issues 100,000 new ordinary shares of 5p each

The total number of ordinary shares of 5p each in issue will be 78,094,027

Silence Therapeutics today issued and allotted 100,000 new ordinary shares of 5p each following the exercise of share options under its Employee Share Option Scheme. The new ordinary shares rank pari passu with the existing ordinary shares in the company. Application will be made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM. Admission is anticipated on 28 August 2019.

Finsbury Growth & Income Trust (FGT); issues 200,000 new shares

Following the issue the company has gained the ability to issue 9,609,341

Finsbury Growth & Income Trust has issued 200,000 new ordinary shares of 25p each in accordance with its placing programme at 927.00p per share. The shares rank pari passu with the existing ordinary shares in issue. The issue price equates to a premium to cum income NAV per share at the time of the transaction of 0.7%. Such a premium includes a placing commission of 0.2%.

John Laing Group (JLG); makes its first investment in Latin America

John Laing Group has agreed to acquire 30% of the Ruta del Cacao road project in Colombia for about £62m. Partners in the project are Cintra/Ferrovial, Colpatria and Ashmore. The acquisition is anticipated to complete over the coming weeks, subject to customary consents.