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For those interested, research focusing on mostly the potential short to longer term valuation for GEEC is available at https://www.spangel.co.uk/research/#/portal/sp-angel . Usual caveats apply as SP Angel act as corporate broker to the company.
Troy….very interesting as they have raised their target sp and huge NAV valuations!
Hold for gold then….!
This is getting exciting ride of this share!
Holding strong here for much more!
Thanks very much for this link Troy
Do you think this analysts very bullish report the main reason for the recent SP increase or are there other reasons?
No problem Bismarck. I dont think the research has much bearing on the current share price move as Arden Partners for example have had a similarly high share price target for the last few years. For me there has clearly been a lot of shares changing hands recently and i think that's relieved the selling pressure that has been hanging over this stock for quite a while. No significant ownership RNS's though so i am confused as to what has actually happened. Agree with you that in the absence of a significant buyer - if another large shareholder shows themselves as a seller, then the shares will likely fall quite a bit. I dont see that happening right now as the significant value offered at this stock price should continue to attract buyers and not sellers - and as said above the very large sellers are already out (i suspect). There cant be many if any long-term institutional or private investors with 1m or more shares still. Please share an updated table of largest shareholders though if you have it.
Hi Troy
According to Simply Wall St -
14.4% Institutional
37.6% Individual insiders
48.1% General public
Top 3 shareholders -
Yogendra Modi 37.57%
M & G Investment Management 13.95%
Silvercrest Asset Management 0.41%
Not sure if it's 100% up to date, but if no3 (Silvercrest) only holds 0.41% then only Modi or M & G could rock the boat with large sales?
Thanks for this Bismarck. It's difficult to get up to date info. By my reckoning, the Modi family own 65% of the stock (see last director dealings RNS from Nov 2020 for this figure). Some months ago there was also a very large number of shares traded which corresponded with the M&G holding. So i think they are out already but there has been no RNS to confirm this which is why im a bit confused. Maybe there is a loophole that means they do not have to disclose. According to 'Marketscreener' that leaves Aegon and Silvercrest with 0.5% and 0.41% respectively. Given the large amount of stock traded recently i wouldnt be surpirsed if one or both of these are out now as well. This would mean no long standing large shareholder left to sell. All conjecture as we dont have the information. Someone has obviously bought all these shares as well and there have been no director shareholding RNSs since Nov 2020 so it cant be them. Whoever it is could clearly sell their holding short term after a decent rise - which would spoil the fun a bit
Hi Guys…
According to FT there are only 48m floating shares out of the total 119 m share.
GL
Thanks Hasiba. I guess that broadly matches to the 65% ownership of the Modi family. Either way, there are not many shares kicking around (which can be a problem as it puts off institutional investors). Can take my shares out of the free float for now as well.
I think Modi family wealth is looking a lot healthier now..
35% @ 16p previously vs 65% @ 32p now!
Obviously something going on behind the scene as the recent results can’t explain over 100% rise in the last 2 weeks..
Well…not complaining here..lol
GL as it looks like we are alone in this lovely lonely planet!
Think its just sellers out of the way (for now) and a buyer or two active. Nice to see a 121k share purchase from Fri 6th that popped up at the end of today. Spread was 30 - 32 at the time of the trade and price paid was 35p so maybe there is an ongoing buyer that is being quite aggressive to get stock.
Enjoying the ride upwards though. long may it continue! In the context of the latest IPCC report out today GEEC should do well. India is on track to make its contribution to a 2 degree celsius or less world by 2050 with share of energy sector for gas rising to 15% from 6% now. Ideally India would be more aggressive and align with Paris target of 1.5 degree celsius - gas and GEEC both have a role to play in that target if India were to make it.
* Proven and derisked significant reserves
* Increasing infrastructure connections to huge market demand
* Decent balance sheet and cash generative
* Significant discounted shares to intrinsic value
* Paris Agreement aligned
* Stars are aligned too