1 Jul 2016 06:27
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Don't have an account? Click here to register.Electra Private Equity posts strong first-half returns
Wed, 04th May 2016 12:30
(ShareCast News) - Electra Private Equity looked to be sitting on solid foundations on Wednesday, as it claimed strong returns in its first half.The FTSE 250 company reported a net asset value per share of 4,405p - a total return of 15% in a period where the FTSE All-Share has returned 4%.Total net asset value per share return for the 12 months to 31 March was 28%, and investment return was £299m - or 18% on the opening portfolio for the six months."Electra has produced another set of strong results, with a NAV per share total return of 15% over the six-month period driven by excellent progress in the investment portfolio and supported by a high level of realisations," said chairwoman Dame Kate Barker."We are pleased to be announcing an interim dividend of 44p per share, an increase of 16% on the corresponding period last year, and in line with Electra's policy of returning to shareholders a targeted 3% of NAV per annum."Electra's managing partner Alex Fortescue said the company successfully deployed £158m of capital in growth assets during the period, as well as in lower-risk, cash yielding assets to support its distribution policy."Three of Electra's assets, namely Parkdean Resorts, The Original Bowling Company and Elian, have completed transformational M&A transactions which have enhanced their strategic value and growth prospects," Fortescue explained."Electra's portfolio offers considerable potential as the growth strategies we have in place at each portfolio company continue to take effect."
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20 Jun 2016 07:44
Electra Private Equity loses two board members
(ShareCast News) - Investment trust Electra Private Equity announced the resignation of two of its directors on Monday, with Dame Kate Barker and Francesca Barnes departing with immediate effect. The FTSE 250 firm said Barker joined the board in 2010 and was chairman of the remuneration and nominati
Read more20 Jun 2016 06:48
Electra board members resign after company shake-up
LONDON, June 20 (Reuters) - Electra Private Equity, which has been the focus of a campaign by activist investor Edward Bramson, said on Monday that board members Kate Barker and Francesca Barnes were resigning with immediate effect. The resignations follow the appointments within the last t
Read more17 Jun 2016 15:07
14 Jun 2016 08:56
Electra cancels large credit facility
(ShareCast News) - Electra Private Equity announced the cancellation of a large credit facility on Tuesday. The FTSE 250 firm said that, having carefully reviewed its cash position, it has decided to cancel its existing £275m multi-currency revolving credit facility. Its board confirmed that the fa
Read more6 Jun 2016 07:33
Electra sells Elian to Intertrust for £435m
(ShareCast News) - Electra Partners said it had agreed to sell corporate services provider Elian to Intertrust Group for £435m. After completion of the deal, which is expected during the third or final quarter of 2016, Electra said it expected to receive total proceeds of around £200m, an uplift of
Read more6 Jun 2016 06:41
RPT-Dutch trust operator Intertrust buys Elian for 435 million pounds
(Repeats to add Reuters Instrument Code for Electra) AMSTERDAM, June 6 (Reuters) - Intertrust plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm sa
Read more6 Jun 2016 06:31
27 May 2016 14:18
Directors dealings: Activist investor Bramson tops up stake in Electra
(ShareCast News) - Electra boss Edward Bramson picked up another large slice of shares in the listed private equity outfit on the same day of his appointment as interim chief executive officer of the firm. Bramson and one of his associates, Ian Brindle, were named to Electra Private Equity´s board o
Read more