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Cenkos trading update this morning, market cap now same as OPG no mention of profits or losses just saying business is good and shares are up 30%. It's just a 100% momentum market so when OPG does issue their numbers whenever that will be there surely will be a flood of buyers getting in
Some solid buying out of nowhere and online looking equally perky now 10.9p to buy. Perhaps the 150k was the last of the overhang worked when somebody piled in and bought 4 lots of £10k in seconds. 138k buy at 10.84p too, note the little punters do not play because it does not represent a fast buck trade.
Nice bounce back there
2 days left for tax year, makes me wonder if they are just fishing for tax loss sellers too. No delayed sale for the drop in the bid. Never ending this manipulation.
Usual manipulation dropping the bid while there's a stack of buy orders in auction at 10p or higher and has been for a month now. Maybe this is a clever way of building up a stake without moving the price. See how many get filled in the UT at 10p this time at 11am
Something just does not feel right here does it
Goes against the numbers being said here
Distressed seller has been selling for a while now
Which is fine but there is no buyers to take it up it seems
Must the goal thing
Https://www.bseindia.com/stock-share-price/opg-power-generation-pvt-ltd/1075opgpl26/975032/corp-announcements/
So the hope is they get all the data, announce trading way ahead of forecasts because we already know that. Combined
with people buying back after tax selling the shares rocket to 20-30p where they should be "robust" trading....read ITX's trading update, they just done almost 200% recently to a market cap almost the same as OPG and for what a 40% rise in turnover from a tiny $5 mil to $7 mil never mind any mention of profits ffs
Somebody bought 280k today via 2 lots, clearly same buyer as both delayed within minutes. The 150k sold at 10p must be a tax seller too desperate to be anything else considering "robust" trading
Zoo rose 50% today because they said their loss would be a lot better than forecasts. £32.5 mil market cap. only about £8-9 mil difference from OPG. OPG would be better off losing £20 million then saying they are only going to lose £15 million the year after shares would rocket....market is nuts now
The Company understands market consensus for FY24 to be revenue of $37.6 million, EBITDA adjusted for share based payments loss of $14.0 million and net cash of $1.6 million.
Davy
We did tell you the buybacks were never gonna happen anytime soon
Desperate market full of stale bull sellers 210k sale today at 10.075p.
What can you do eh...I feel like ringing Cenkos and wasting 5 mins of my life asking them to sort out the promised
share buybacks ffs
If you go back to 2016 they issue this. Read it and does that means OPG have been getting paid back bit by bit and have £10 mil left to receive. Maybe this explains how they smashed their overall debt the last few years, payments received and cash generation from the existing business ?
05 July 2016
5 July 2016
This announcement contains inside information.
OPG Power Ventures Plc
Renewable Growth Projects Pursued
OPG Power Ventures Plc ("OPG", the "Group" or the "Company"), (AIM: OPG), the developer and operator of power generation facilities in India, is pleased to announce an investment in 62 MW of solar projects as part of the Group's ongoing growth strategy.
62 MW Solar Projects in Karnataka (India) - 25 year PPA - expected commissioning in 2017
The Board has approved the Company's investment of GBP45 million in four new solar projects across various locations in Karnataka, one of the most industrialised states in India. This investment is to be funded from a combination of internal cash generation and debt and the Directors expect all four of these new projects to be generating cash flow by June 2017.
The projects were secured in a competitive bidding process and the Company has signed long term (25 year) power purchase agreements (PPAs) at an average tariff of Rs 5 with Karnataka Power Corporation. The targeted return levels are expected to be met without any subsidies being available.
Maiden dividend expectations unchanged - longer term expectations enhanced
The Board announced its initial expectations with regards to dividends on 24 May 2016 and that expectation remains unaffected by this approved investment. The Company's dividend objective is to attain a pay out of 15 per cent of full year net earnings, subject to the level of free cash flow generated calculated after scheduled debt repayments and expected capital expenditure and progress to a long term dividend strategy that pays out a third of the Company's total net earnings in any year. The solar energy business is expected to make a significant contribution towards this target while keeping the Group on a growth trajectory.
Daniscp,
Thx for the explanation , appreciate that
The way the solar assets would have been financed is with a mixture of shareholder loan and equity investment. Any distributions from the project later on are then used to pay the shareholder loan interest first and any excess is paid as a dividend.
The two instruments are usually thought of as "stapled" together i.e. the same entity will hold the equity and the shareholder loan. It looks like OPG as sold the equity portion but not the shareholder loan which is unusual.
The only reason I see for it to be structured like that is because the party acquiring the asset is interested in claiming that it owns 30% equity stake in solar assets with a capacity of 62MW. So on a pro-rata basis it has added c. 20MW to its portfolio at little to no cost. The power producers especially listed ones are typically focused on MW's Installed. It could also be that they didnt have readily available cash to buy the shareholder loan and that will come later.
The good thing is that essentially what this is implying is that OPG's investment in the solar assets as been valued by the acquirer of the equity stake at the value of the shareholder loan (£10.8m) + £210,000 so a total of £11m. This is higher than I expected, I value the shareholder loan + equity in the solar assets at ~£7m.
Good to see the buying price increase steadily this morning from 10.8p to almost the full 11p offer after this morning's solar disposal news.
The closing comment sounds encouraging:
"Our business remains robust and we look forward to provide continuous updates on progressing our strategy within the Indian energy sector."
Lol not one trade first 5 mins. This market is screwed, if they are not moving nobody plays, the old school investor is almost extinct "business robust" with fundamentals like that it should be up 30% instantly and should be up 150% overall for a valuation.
No L2 changes opening 3 v 1 at 10.5-11p Peel always late to open
That is the main part of the RNS I like.
I'm not sure of the Debentures but I think it means OPG hold that debt so that is another asset.
So £40-45 mil market cap, last reported net cash £14 mill, profits reported in India (Bse) of 9 months of around £7 mil PBT and they have these debentures on top.
This is getting silly on the value side but then it always did.
Yes , sold for a small amount.
I'm not sure thy hold the debt in the way suggested. Haven't they still lent money (which presumably means they receive interest payments as well as why they still retain an interest in all those solar businesses). If my understanding is correct - and I admit, I may well be wrong - it seems a decent deal to me, although unlikely to have a fundamental effect on the sp, either way.
Sold for pennies but I see they still hold the debt
OPGPG will continue to hold the debentures of approximately £10.8 million subscribed in these solar assets.
Is this what you guys were expecting to see when the solar asset was sold?
Delaying showing a 250k buy 2 days too is shocking and should not be allowed.
A million maybe but 250k is not a fortune on a 10p stock. So by the time they printed it Wins had all the stock back for a lovely profit
I wonder if your post caused the selling today realturbo not that I have a issue with it. The risk you have selling out because no results for a while could be you might miss out on say a surprise bid approach at multiples of the current price etc etc.
They might pull their finger out too and start these share buybacks they promised sigh !
3 months until results then.
Might as forget about these until then
This company's UK reporting is disappointing, a total disregard for shareholders and the share price/valuation of company
Going by OPG's news release history, the next release might be in June? Happy to be patient and possibly top up on SP weakness.
Friday, December 15th 2023
Half Year 2024 OPG Power Ventures PLC Earnings Call
Wednesday, December 13th 2023
Half Year 2024 OPG Power Ventures PLC Earnings Release
Tuesday, December 5th 2023
OPG Power Ventures PLC Annual Shareholders Meeting
Thursday, November 9th 2023
Full Year 2023 OPG Power Ventures PLC Earnings Call
Wednesday, November 8th 2023
OPG Power Ventures PLC Annual Shareholders Meeting
Monday, November 6th 2023
Full Year 2023 OPG Power Ventures PLC Earnings Release
Tuesday, June 20th 2023
Full Year 2023 OPG Power Ventures PLC Trading Statement Release
Wednesday, December 7th 2022
Half Year 2023 OPG Power Ventures PLC Earnings Release
Tuesday, November 1st 2022
OPG Power Ventures PLC Annual Shareholders Meeting
Friday, September 30th 2022
Full Year 2022 OPG Power Ventures PLC Earnings Release
Poker games continue on L2 wins naturally drop back after a few traders sell out because it's not moving and now one of the mm switched to the bid so only one mm on 11p, no doubt if that 11p got took out I'm sure Cenkos would switch back to the offer again, it's never ending until the company issues a update