29 Apr 2016 07:48
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Don't have an account? Click here to register.Electra Private Equity posts solid returns
Fri, 09th Dec 2016 07:08
(ShareCast News) - Electra Private Equity posted its preliminary results for the year to 30 September on Friday, with a net asset value per share of 5,149p, representing a total return of 35% for the year.The FTSE 250 firm's share price was 4,310p, a total return of 36% for the year, compared with 17% for the FTSE All-Share Index.Its investment return was £751m, or 46% on the opening portfolio.The company made 27 transactions during the year including three new platform deals, 10 add-ons to or mergers of existing portfolio companies and 8 realisations during the period.It realised £903m, or 55% of opening investment portfolio, and invested £218m.Total dividends paid in the year were 122p, with a second interim dividend of 110p per share declared, now payable to tendered shares.NAV per share total return stood at 255% over 10 years, equivalent to a 10-year annualised return of 14%, at the upper end of the company's long-term target of 10-15%.Share price total return was 237% over ten years, compared with 76% for the FTSE All-Share Index.The firm said the conversion of the 5% Subordinated Convertible Bond, the redemption of the Zero Dividend Preference Shares and the cancellation of the multi-currency revolving credit facility left it with no gearing."Over the last six months, we have reviewed and reconstituted the Board, set in train the development of a strong executive team and completed the first phase of our strategic review," said chairman Neil Johnson."These initiatives are designed to optimise shareholder value and give me confidence that we are building a business with a strategy and structure that is attractive to shareholders."Johnson said the board was eager to embark on the second stage of its review, though the timing of that was currently constrained by the terms of the outsourced management contract and will be after June 2017, unless they are able to negotiate earlier access to the portfolio companies with Epiris.
More News
4 Apr 2016 13:44
Director dealings: Bramson keeps picking up Electra stock
(ShareCast News) - Activist investor Edward Bramson, who won a place on the board of Electra Private Equity in November after a 21 month-long battle with the board, has continued to snaffle more shares in the group. On Monday the company revealed that last week Bramson's Sherborne vehicle had bought
Read more15 Mar 2016 11:37
BUZZ-UK Budget: Liberum latest to warn of interest tax change
** Liberum latest broker to warn a possible change in the way UK allows cos to claim tax breaks could hit highly-levered stocks ** Government looking to cap tax breaks from interest payments on debt at 10-30 pct of EBITDA. Link: http://bit.ly/1MgJSoO ** Liberum screens for stocks with
Read more19 Feb 2016 16:09
4 Feb 2016 15:44
Activist investor Bramson ups stake in Electra Private Equity
(ShareCast News) - Edward Bramson has increased his stake in Electra Private Equity through his Sherborne Investors vehicle, three months after finally getting onto the board. Bramson, who was elected to the board in November, purchased 2,850 shares for £98,439. He has been slowly upping the stake
Read more4 Feb 2016 08:58
Electra sells Daler-Rowney to FILA Group
(ShareCast News) - Electra Private Equity has sold its stake in Daler-Rowney to the FILA Group, a Milan-listed producer of writing instruments and art supplies. The FTSE 250 company said it had received around £32m for the fine art materials producer, which was 163% higher than its valuation at 30 S
Read more28 Jan 2016 09:38
Electra Private Equity charges into new financial year
(ShareCast News) - Electra Private Equity charged into the financial year in bullish mood, with its board describing its first quarter as "excellent" on Thursday. The FTSE 250 firm said its share price of 3757p on 31 December 2015 reflected a total return of 15% since the start of the period, agains
Read more25 Jan 2016 07:43
Electra Private Equity to review investment strategy
(ShareCast News) - Electra Private Equity is undertaking a review into its investment strategy and policy as well as the company's structure, as it looks to maximise long-term shareholder value. The FTSE 250 investment firm announced the review on Monday, the first major review since it was approved
Read more21 Jan 2016 16:16
London close: Stocks gain on ECB stimulus hopes
(ShareCast News) - UK stocks advanced on Thursday as European Central Bank President Mario Draghi hinted at further stimulus. In a press conference following the ECB's decision to keep its key rates unchanged, Draghi said the central bank would "review and reconsider" its monetary policy measures at
Read more21 Jan 2016 16:10
21 Jan 2016 15:41
FTSE 250 movers: Halfords leads the peloton
(ShareCast News) - The FTSE 250 was in the black mid-afternoon Thursday, up 164.74 points (1.05%) to 15,805.75. Halfords pedalled to the front of the peloton after it said group like-for-like sales rose 0.3% in the third quarter with the company reporting that full year pre-tax profit expectations w
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