News Column

Note Issues, Upcoming Earnings Releases, NAV Reporting, Divestitures, and Appointments - Analyst Notes on Alliance Trust, Capco, Murray Income Trust, RSA and Barclays

July 10, 2014

LONDON, July 11, 2014 /PRNewswire/ --

Today, Earnings Review released its analysts' notes regarding Alliance Trust PLC (LON: ATST), Capital & Counties Properties PLC (LON: CAPC), Murray Income Trust plc (LON: MUT), RSA Insurance Group plc (LON: RSA) and Barclays PLC (LON: BARC). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at:

-- Alliance Trust PLC Analyst Notes On June 18, 2014, Alliance Trust PLC (Alliance Trust) announced that it has agreed to issue a GBP100 million fixed rate 15-year unsecured private placement note at a coupon of 4.28%, with semi-annual interest payments. The Company expects the transaction to obtain unsecured fixed rate long dated Sterling denominated financing at a pricing level that it considers attractive, and which is expected to enhance shareholder returns over the investment cycle in line with the Company's investment objective. The Company plans to use the proceeds to retire GBP100 million of the Company's existing GBP380 million debt, all of which is currently short-term. Post the completion of the issue, the Company's total borrowing facilities will increase to GBP550 million, with the weighted average interest on all borrowing facilities increasing to 2.26% from 1.61%. The full analyst notes on Alliance Trust are available to download free of charge at:

-- Capital & Counties Properties PLC Analyst Notes On June 30, 2014, Capital & Counties Properties PLC (Capco) announced that it intends to release its H1 2014 results on August 1, 2014. Capco is a property investment and development company, with a portfolio of property investments concentrated in West London and the West End. The full analyst notes on Capco are available to download free of charge at:

-- Murray Income Trust plc Analyst Notes On July 9, 2014, Aberdeen Asset Management PLC (Aberdeen), the investment manager of the close ended equity mutual fund Murray Income Trust plc (Murray Income Trust), announced the unaudited net asset values (NAVs) of the Company at close of business on July 8, 2014. The Company's undiluted NAV, excluding income and including income, was 785.17 pence and 794.75 pence, respectively. The full analyst notes on Murray Income Trust are available to download free of charge at:

-- RSA Insurance Group plc Analyst Notes On July 3, 2014, RSA Insurance Group plc (RSA) announced the signing of an agreement to sell Sun Alliance Insurance (China) Limited (RSA China) to Swiss Re Corporate Solutions for a consideration of GBP71 million, payable in cash. The transaction, which is subject to regulatory approvals, is expected to result in a gain of c.GBP26 million. Commenting on the transaction, Stephen Hester, CEO of the Company, said, "This transaction builds on the momentum of our recently announced disposals in the Baltics, Poland and Canada, and represents continued progress against our aim of tightening the strategic focus of the Group. We are continuing to evaluate further non-core disposals, some of which we expect to agree during 2014." RSA China, which underwrites both commercial and personal insurance risks, accounted for GBP14 million of net written premiums in the Company's 2013 financial statements. The full analyst notes on RSA are available to download free of charge at:

-- Barclays PLC Analyst Notes On July 1, 2014, Barclays PLC (Barclays) announced the appointment of Tim Luke as a Vice Chairman and Managing Director in its Technology, Media, and Telecommunications (TMT) Investment Banking team in New York. In his previous role as a senior adviser on Business, Innovation and Trade for British Prime Minister, David Cameron, he was involved in a range of policy development and business engagement activities for a period of three years. Prior to that, Tim spent 18 years with Barclays and Lehman Brothers in New York. Commenting on the appointment, Laurence Goldberg, Co-Head of Global TMT at Barclays, said, "We're delighted to welcome Tim back to Barclays. He has excellent client relationships throughout the industry and on a global scale. He has had a remarkable career and the skills and experience he has acquired will be hugely beneficial to our clients worldwide, the TMT team, and the firm." The full analyst notes on Barclays are available to download free of charge at:

=============== EDITOR'S NOTES: ===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

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