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Well this is a good start that's hope it carry on . Any one know when we will here about a pay out here .
Morning everyone. Take a look at the RNS released at 7am this morning. The bit I particularly like is: "Revenue for the nine months ended 31 December 2013 increased by 6.2% compared to the prior period. EBITDA on a like-for-like basis was 9% higher than the comparative period at £72.6m." So, earnings before all the icky stuff are up 9%. Hopefully that'll give the SP a bit of a kick. Good luck all.
today will it hold or not .It would be nice to see it go to all time high soon . but I do not see it come off . GLA
And Deutsche Bank recommends a Hold http://www.stockmarketwire.com/article/4737919/FLASH-Deutsche-Bank-starts-hold-on-Infinis-target-265p.html
Bought a couple of hundred of these at 229 wish i had bought a heap more but have too much tied up in CEY !!
Classic example of why you should stay calm if you believe in the conviction of your research. Bought close to 10K worth when it floated - no way was I selling at a loss. With 2 brokers now overweight at a target of atleast 300p, this is looking good.
You couldn't have got this more wrong since day 1....
Barclays Capital starts overweight on Infinis, target 310p - See more at: http://www.stockmarketwire.com/article/4734300/FLASH-Barclays-Capital-starts-overweight-on-Infinis-target-310p.html#sthash.32b5UaJY.dpuf
Infinis operate more than just wind farms mind you
Disaster IPO looks like curtains for Guy Hands after the mess at EMi. Government rightly given up on wind power shale is the way forward.
I have a Spread bet for this to go down
I had to sell out, may buy back in @ 1.50
Well this is not good for us down ever day . I miss Royalmail thought this would be a good buy but I have done it again got share that goes one way down . . One day I may get it right I hope . merry xmas all
Red by ten oclock than blue by 12.00 o'clock . up up and away by 14.00 .
For the current financial year ending 31 March 2014, Infinis intends to declare a dividend equivalent to an annual dividend of £55 million adjusted on a pro rata basis for the period from Admission to 31 March 2014. For FY15, the first full financial year after Admission, Infinis intends to declare a dividend to Shareholders of £55 million (representing approximately 18.3 pence per Ordinary Share). Thereafter, Infinis intends to pay dividends twice yearly in July and November, with the approximate proportion of one-third and two-thirds, respectively, of the dividend for the relevant year. 10
Most of the Infinis debt is project financed and thus will be non recourse to the parent. So whilst on a consolidation it is significant on and individual project basis the gearing will typically be 60-75% of the book value. Non recourse financing on wind generates little "profit" in the first few years due to heavy depreciation and finance charges but will deliver a lot of cash to geared equity. Then as the financing cost falls the profits start to flow and catch up with EBITDA. That is how most wind developers work - Infinis, WIND etc. That is not a model that is at all to do with speed of execution. It is simply making sure that the parent has enough liquidity and equity to be able to fund new projects and Infinis has plenty of capacity as after dividends it still generates free cash to equity. Infinis currentlt trades on around 8x EBITDA and that falls fairly quickly. The "going rate" for a new windfarm in the UK is around 9x EBITDA or a ungeared IRR of around 8-8.5%. So sum of parts Infinis is cheap as it is on a free cash flow yield. certainly significantly a better investment than Greencoat. But as I say sentiment is poor right now.
Today 00:50 richard12345 RE: infinis prediction 597.00 No Opinion returning to my prediction on the infinis IPO, if you view in thread mode you can look at the original post. my prediction was the price would fall on conditional trading and they would cancel the IPO, and that it would only interest me if it fell by a factor of 4! the prediction was on 14th nov, the IPO on 15th. in fact the price didnt fall on the conditional trading, it seems because of the stabilisation fund. but it looks now that my conclusion was right, the IPO was 260p. with the IPO, days 1,2,3 the price ascended to about 272, days 4,5,6 it descended back to 260. days 7 to 13 it descended a bit and returned to 260, day 14 sharp descend to 251, days 15 to 16 descent to 248, and today the 17th day, descent to 240, so it has now descended about 7.7% which may not sound much, but savings today give you 1.5% in an entire year. so that is 5 years savings lost in 17 trading days. this isnt as dramatic as I predicted, but that is because the stock exchange and also the stabilisation fund are designed to prevent rapid ascension or descension. my prediction was just based on the fundamentals in the IPO prospectus. it shows the power of fundamental analysis. which is good for buy/sell/hold/ignore decisions, but less accurate for specific numerics. with IPO applications they actually tell you to read the prospectus before investing, but its a major effort to study the prospectus, and you dont have much time to. I like what the company is, and at a much lower price I may well buy in, because it could become very lucrative. but they have expanded too fast, and they need to slow down considerably. From going through endless loan applications by smaller firms, I know that the best firms expand very gradually. eg they will expand by just recruiting one person. borrowing allows a company to expand faster, but too much borrowing means that the company doesnt generate much profit. whats the point of being big if you dont make money? infinis is a company who have borrowed too much money to expand too quickly. GREED. ultimately expansion needs to be very carefully budgeted and audited. the extreme debt of the government is because of a total lack of budgeting in the past. the previous tories began the problem by converting surpluses into tax cuts, but in fact tax cuts need to be audited very carefully because the economy is cyclic. surpluses are cyclic. so if you cut taxes to the max, public services become unsustainable when the cycle moves to a deficit. wisest thing is to cut taxes very gradually, eg by 1%, and to increase taxes gradually instead of borrowing if public services become unsustainable. or have tax holidays in sunny weather. the taxpayer is better off if you increase taxes rather than borrowing, because the borrowing eventually has to come from cuts to services or tax rises. they all opt for cuts to services quoted richard12345
What indications are these?? You must be psychic! The gov has reduced the CfD feed in tariff rate from £100/MWh to £95 and then to £90. At present Infinis can put projects into the RO or from next year the CfD. In 2017 the RO will be replaced fully by the CfD. From 2014 to 2017 they run in parallel. So the announcement last week has a very limited NPV impact on Infinis but its all about the sentiment. The dps for 2014/15 will be 104% of eps, the payout the next year will be around 80%. The shares are cheap but sentiment at present is poor. So a good buying opportunity.
7% dividend of what is paid..company profit? or share price?
This doesn't make sense, Beaufort have stated Infinis is a strong buy with a target of £3.00. The Company profits are good with a 7% dividend. Although Gov has reduced support for onshore wind in 2015 but this shouldn't massively affect Infinis ( read Beaforts review) so why is this falling now ?? Does anybody have a clue?
I would strongly advice you sell if you cant afford to risk your money at large. The indications are getting stonger that the share price will likely plummet even below 200p before the year runs out.......definitely not worth it
Good afternoon all.. When did they stop supporting the SP ? Anyone know ? And GLA who are still holding...
Almost every day the SP of INFI goes down. Apparently, the advisors were over ambitious to set IPO at 260p. IMHO they wanted to make a quick buck while the London Stock market was liquid.
Jadee, I think we were right to sell, I lost 7p per share. It did bounce back a bit yesterday but it finished at 2.52, and currently is continuing that downward trend at 2.45. I wasn't expecting this to be another RMG, I was happy to take the dividends but something about this company doesn't feel right to me, combine that with the very negative news about the future on shore wind and I feel it's better staying away from Infinis. I like the renewables sector, but will look for a company I'm more comfortable with. This is a Strong Sell for me. DYOR. For those holding/buying good luck I wish you well.
Our view: While yesterday's news caused a minor downward 'kneejerk' reaction to the share price, our stance and price target on Infinis remains unchanged. Beaufort continues to recommend the shares as a 'BUY' for income investors (remember, we forecast a 2014 yield of 7.2% based on current share price), with a price target of 300p/share. Although the exact timing was uncertain, yesterday's news simply detailed the fact that subsidy levels were being examined through a continuing consultation and that a cut will likely be proposed by Decc in 2015. These will possibly become effective for fiscal 2016/17. Realistically this could mean the support level is reduced from £95/MWh to, say, £90/MWh. Infinis's business model is highly robust and such proposals have already been more than anticipated in its long-term planning. Infinis has a substantial onshore wind project pipeline of c.600MW at various stages of development. Of this, it targets the addition of 130-150MW of onshore wind capacity over the next three financial years, with major sites already fully permissioned in Scotland. In expectation of the latter being 'grandfathered' on existing legislation, visibility remains excellent. Indeed, Beaufort's model for Infinis suggests the Group will be throwing off significant amounts of cash by 2017, to the extent that it could even have the option of distributing special dividend payments in addition to the generous annual payment. Other options more rigorously paying down Group debt, acquisitions or, perhaps, even participating in one of the government-favoured offshore wind projects. The scale of offshore wind projects tend to be so large that they are completed by partnerships or in consortiums. This would be something of a change for Infinis which, in the past, has preferred to wholly own-operate its own generation. While there are no such plans presently afoot, the Group certainly will have the scale to consider such participation by 2018.