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Which is extremely poor as Keith Henry chairs it and he has some considerable experience. I know also that one of the analysts has tried to elicit some update but can't and so you are right it is utterly hopeless and the non execs need to get a grip.
I have also emailed the Greenko IR team about potential update to market on discussion if any with GIC and GEF. This was over a week ago now and the silence from them and the management team is deafening !! Share price has fallen over 60% and still no word or comment from management team even if this is to say that they are not aware of any specific circumstances and emphasise their continued positive outlook for the business. Another example of the vagaries of investing in a Chinese or Indian AIM companies. Governance and IR comms are truly appalling
I'm really not convinced this will do a breakout of its own accord until we get some news from Anil Peanutbutterjars and his merry men regarding whether we are going to be diluted into the middle of next week or not. Letters and e mails to the Chairman remain unanswered and so we will have to wait to see if they have managed to cut a deal. If they do and if the shares rise then I'm going to buy the Finance Director, Vasu Littlegoalongway a new suit and get him a decent haircut.
Need slightly more volume and breakout will be confirmed. Can't believe the sp is still this low. Strong bounce as heavily oversold IMO.
Not a great start to the week from Indian central. I'm assuming that no word has been received from Sanjeev Downabit in their IR department?
Hmm not sure that's going to work here. What will work is some positive news on the dilution. Once again note management/IR saying two weeks on the 14th and so far nada. Over promising and under delivering again and again.
Looking from a technical analysis this is oversold and will rise significantly next week.
http://sharedealing.nandp.co.uk/broker-views/GKO/Greenko-Group I accept that one should take brokrs notes with a large pinch of salt, but, even the most modest one recently forecasts - " 14 May 15 Cantor Fitzgerald Buy 47.13 86.00 82.00 Upgrades " - a rise of almost double the current SP. Whilst the last Investec one - "15 Apr 15 Investec Buy 47.13 310.00 150.00 Retains " is forecasting 1.50 per share - which I supsect is somewhat far fetched to say the least. I suspect most of us would be happy with the former at 82p !!!
They've been banging on about divis for two years and haven't delivered. I really wouldn't get too excited. They need to sort out the B/S then if they have surplus cashflow pay some out. But I feel they are too capital constrained to do that. In short they are a team who have vastly over promised but under delivered. Consistently over three years! Nonetheless the value is there if they can stop the dilution.
With all due respect I have done a lot of research. Good luck to you and your investments, here is the snippet about possible dividends. The Company has operating assets of 715 MW and is well on track to reach the targeted 1,000 MW in 2015. This, together with our reduced borrowing cost and improved debt repayment profile, will provide free cash flow to contribute to future growth projects. However, the Board also recognises that this cash flow should contribute to improved returns to our shareholders in the coming years. As a result, when our half year results are announced in September 2015, and our major construction projects are essentially complete, we will give active consideration to the most appropriate routes to return cash to shareholders.
Rocket you really need to think about blithe comments re a dividend. The Ords could (could) be worth little if anything unless they get their capital structure sorted and to mention dividends at this stage is frankly ridiculous. Again if you have done any in depth research you'd recognise that you are being totally misleading.
Stevymoz, looking for an update on convertable shares. Operationally the business is doing fine, in fact they may pay a dividend in September. Just need them to sort the conversion issue which I'm positive they will do. This is what has been holding the sp down.
is there some "good" news on the horizon ?
Who knows frankly. The wording/grammar of the e mail is poor and for me it carries no weight at all. They need to make an RNS.
Yes of course I have done my research.I have also contacted the company, waiting for a response. Just found the email interesting as looks like we could get news on conversion of shares any day now.
I'm also not sure why you are rehashing old LSE posts? I thought you'd done your own in depth analysis? In that context you'll understand the importance of the two loans particularly the GEF one.
Rocket if it was true that was the 14th may and I think it is meaningless frankly. If it were RNS'd I'd give it more credibility.
Email response posted by vspl. News IMMINENT. GKO's response to my email The management and the board is focused in resolving the issue with share price drop. The underlying business and its fundamentals are strong and tracking in line with expectations both at the financial numbers and growth plans level. The current SP drop has been a function of the concern on convertible shareholders in the subsidiary with rights to swap into PLC share may lead to significant dilution. We are actively working with institutions and convertible holders to enable clarity in the dilution and report back to the market in 2 weeks period. Post which we believe 1GW operating portfolio and strong long term financials will be reflected in the share price and recover rapidly from these levels.
I would place absurdly no store in those recommendations at all. All utterly meaningless until we hear about the GEF solution.
Investec currently have a BUY rec on Greenko and £1.50 target Cantor currently have a BUY rec 82p price target. Minimum 100% upside from these levels.
Agree it is in the intrests of every one to get a deal sorted. Operationally Greenko are doing a superb job. Once they get the conversion sorted this will relate IMO. Good luck
Rocket I'm not sure what research you've done but this thing is rather dependent on how it deal with its two loans. The business case is somewhat irrelevant right now. However, having looked at GEF in particular they don't seem the sort of chaps that want to end up owning a small Indian wind company!! Let's hope this so far poor management team can cut a decent deal.
Just done some research into GKO. Looks like a great company with a bright future. Looks like the sp could bounce very strongly.
Any update received from the IR team at GKO yet? Last time I checked with them was before the trading update last month and all I got from them was a copy of the broker report from Cantor Fitzgerald who they probably paid to write up the company. Share price continues to tank since last trading update and only silence from management / IR team here with regards to any update on discussion with GEMF or GIC on their respective convertible instruments. Appalling investor relations and communications I have to say !!
Done that but not waiting with bated breath.