Edison Investment Research

Premier Technical Services Group (PTSG); announces cash acquisition

Group shareholders to receive 210.1p in cash for each share held

Bidco will acquire the entire issued and to be issued share capital of the Premier Technical Services Group. The board of Bidco and the Independent Directors of the group announced they have reached an agreement on the terms of a recommended all cash offer.

Standard Life Private Equity Trust (SLPE); posts NAV total return of 0.4% for 1H19

Share price total return stands at 4.1%

Standard Life Private Equity Trust reported in its interim results for the six months ended 31 March 2019 that NAV per ordinary share fell 0.8% over the six months to 426.7p. Net assets were £656.1m, while discount to NAV was 17.3% at 31 March 2019. The total outstanding commitments were £419.6m and the portfolio of 59 private equity fund and co-investment interests were valued at £571.2m.

Severfield (SFR); reports revenue of £274.9m for FY 2019

Severfield remains confident of doubling of 2016 underlying profit before tax to £26m by 2020

Severfield posted its results for the year ended 31 March 2019, reporting that underlying PBT and basic EPS increased 5% to £24.7m and 6.7p, respectively. Total dividend rose 8% to 2.8p per share and year-end net funds stood at £25.1m. The UK and European order book stood at £295m and the Indian order book at £134m, as of 1 June 2019.

Whatever it takes… all over again!

Déjà vu for Draghi – but his departure beckons

Author: Alastair George

With eurozone core inflation falling to 0.8% year-on-year in May and 5-year forward inflation expectations falling to under 1.2% in recent weeks, indications from the ECB that all options are on the table to return inflation to below but close to 2% can hardly be a surprise. Adding to a steady flow of sourced and unsourced press commentary by ECB policymakers since this weekend, outgoing ECB President Draghi has effectively promised to do whatever it takes – all over again – to bring eurozone inflation back to target. This is unambiguously positive for eurozone bonds, negative for the euro and in combination with an expected easing of monetary policy in the US, supportive of gold.

[visualizer id=“77455”]Source: Refinitiv at 18 June 2019

Scottish Investment Trust (SCIN); NAV total return at -0.1% for half year ended 30 April 2019

The company follows a policy that intends to maintain discount to NAV at or below 9%.

Scottish Investment Trust posted its results for the six months to 30 April 2019, reporting that share price total return stood at -0.5% and gearing was 0% at the beginning of the year, with a slight increase to 2% by the end of the period. The sterling total return to the international MSCI All Country World Index (ACWI) was +7.2%, while the UK-based MSCI UK All Cap Index total return was +6.0%.

Premier Technical Services Group (PTSG); reports strong order levels

Profit levels are in line with the board’s expectations

Premier Technical Services Group announced its AGM statement, reporting continued sales growth and strong order levels year to date. The company’s working capital utilisation, margin and profit levels are in line with board’s expectations for the period.

Keyword Studios (KWS); CFO David Broderick steps down

David Broderick will remain in his current role and as a member of the Board

Keyword Studios announced that its Chief Financial Officer, David Broderick, will be stepping down from his role and leaving the group for personal reasons. It appointed Jon Hauck as its new CFO, who will be joining the company by 1 November 2019.

SCISYS Group (SSY); announces deal on the terms of cash offer with CGI Group

As per the terms of the acquisition, shareholders of SCISYS will receive 254.15p in cash for each SCISYS share.

SCISYS Group announced that it agreed with CGI Group in terms of a cash offer under which a wholly owned indirect subsidiary of CGI will acquire the entire issued and to be issued ordinary share capital of SCISYS.

HG Capital Trust (HGT); raises £63.7m through issue of ordinary shares

This announcement is further to the one made on 10 June 2019

The Board of Directors of HgCapital Trust have announced the closure of its ordinary share placing. A total of £63.7m before costs and expenses were raised through the issue of 29,352,828 ordinary shares of 2.5p each in the capital of the company through the placement.

Utilico Emerging Markets Trust (UEM); NAV total return per share of 3.5%

The company’s total revenue income stood at £21.4m, in line with expectations

Utilico Emerging Markets Trust has announced its audited financial results for the period ending 31 March 2019. The company’s reported NAV of 249.84p per share grew 1.1% and revenue earnings per share stood at 7.47p for the period. The current year’s NAV total return per share,  3.5% was ahead of the MSCI Emerging Markets Total Return Index, which was unchanged over the period.

The company’s gross assets grew 0.4% to £581.9m and the company’s portfolio is well-positioned, with a diversified portfolio and an ungeared balance sheet.