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But those shares went to qualifying shareholders. I don't think VSA were holding any shares were they.
https://redtenergy.com/investors/major-shareholders/
Has this changed from the last holding figures?
Valid acceptances have been received from Qualifying Shareholders in respect of 56,149,414 Open Offer Shares together with applications for a further 47,383,382 Open Offer Shares under the Excess Application Facility. In addition to the take-up by Qualifying Shareholders, VSA Capital has placed with investors the remaining 9,498,508 Open Offer Shares not taken up under the Open Offer.
Just says qualifying shareholders, no mention of VSA taking the shares. Why do you assume that they have taken them?
VSA were acting as brokers as they did in October 2018.
Sorry but where does it state they hold 5.5%?
Too much time on their hands most of the posters on here, obviously nothing going on in their lives, why not wait and see what transpires over the next year. By then the SP may have reached 10 p. WOW.
Yes, I thought of that. I suppose Statkraft would want to see how RED performs up close before making any decision. ATM they could buy the whole lot for what's in their Christmas party fund I'd imagine.
Couple of links but no mention of the battery supplier.
https://renews.biz/48708/norwegians-let-fly-at-kilathmoy/
https://www.siliconrepublic.com/companies/statkraft-renewables-battery-facility-ireland
Battery facility (Source Irish Times 24/48 hours ago)
Statkraft intends building what could be the Republic’s first battery facility at Kilathmoy, which will store 11MW of electricity for use when demand is high.
Comment John Ward, Alchemy owner, Redt shareholder and ex Redt non exec director was involved with Sorne Wind Farm in the Irish Republic where many years ago a huge VRFB was planned but never happened. A second chance for Redt in Ireland with Statkraft the new UK redt collaborator?
This is from a recent release from Gore Street. I'm not sure what to make of it nor whether it has any bearing on the German project or indeed RED. Any thoughts?
"Gore Street Capital, Gore Street's Investment Advisor, has witnessed the market react to the need for storage with increased permitting and installation of storage projects in the UK that are accessing the frequency response and capacity markets. In November 2018, we commented on the news that the UK capacity market had been suspended following an EU decision that the process for obtaining EU State Aid clearance was flawed. These two events have led to a small fall in frequency response prices and temporary loss of capacity payments. The UK and the EU are working to address the procedural issues and reinstate the capacity market.
In light of these developments, Gore Street is taking a conservative view of the level and sources of revenue available to energy storage projects. It is this conservative forecast that results in the NAV adjustment. The Investment Advisor remains confident that the UK still presents compelling investment opportunities, and the present operational portfolio is generating strong positive cash flows, whilst the asset in construction remains on track for commissioning as previously advised.
As a leader in this new and growing market, Gore Street has an extensive pipeline of UK and European storage projects, several of which are in exclusivity or advanced negotiations; over the last few months that pipeline of opportunities has increased materially. However, Gore Street has been focused on preserving its rigorous investment discipline to safeguard target returns to shareholders at the levels indicated in the IPO prospectus and has therefore been selective in the projects it invest in. Nevertheless, the Company expects to announce several new investments in the near term.
In addition to the Company's significant UK investment pipeline, the opportunities outside the UK have continued to grow considerably and there are immediate and attractive opportunities available at present market prices. Gore Street's advanced pipeline encompasses projects across Belgium, Germany and the Ireland; a point of differentiation for the fund."
What is the mimimum they have to announce a holding is it 5 or 3% cant remember.
Have they sold them as no holding announcement.
Ach well fair enough. Not sure why but I expected a confirm RNS rather than leaving it as ‘expected’.
They have already said, why would they issue another RNS.
It is expected that the Admission of the 113,031,304 Open Offer Shares and of the 47,000,000 Placing Shares will become effective at 8.00 a.m. on Wednesday, 10 April 2019.
The Company has conditionally raised approximately £0.94 million (before expenses) through the issue of the Placing Shares at the Issue Price, which represents a discount of 44.8 per cent. to the closing middle market price of 3.63 pence per Ordinary Share on 13 March 2019, being the last practicable date prior to the announcement of the Fundraising, and a 61.9 per cent. discount to the average share price during the 90 days prior to 13 March 2019. Following the issue of the Placing Shares, the enlarged ordinary share capital of the Company will be 838,219,132 Ordinary Shares. Following the issue of the Open Offer Shares (assuming full take-up under the Open Offer), the enlarged ordinary share capital of the Company will be 951,250,436 Ordinary Shares. The newly issued Ordinary Shares from the Placing and the Open Offer will represent 16.82 per cent. of the Company's issued share capital immediately following Admission (assuming full take-up under the Open Offer).
Well my open offer turned into shares late in the day on the planned date of the 10th. Curious to see the thin trading and decline in the share price. Did most of the open offer shares go to a strategic investor? On the 10th I was offered a higher price to sell than to buy within a period of one minute at under 2p. I am waiting for the holding RNS'es which surely should be there in the next few days.
From what I can see the placing shares have still not be admitted to the exchange. Certainly no RNS to say so which strikes me a bit odd.
Low volume since fund raise complete
At the time of writing the new significant holding information has been updated. If it is mostly correct, none of Schroders, Alchemy and Payar Investments took part in the open offer or placing to the extent that they have all reduced holdings in the company as far as I can see. Information sourced on the redt website. I think that their holdings have all decreased but please correct me if I am wrong. The directors details on shareholdings are incorrect with respect to O Brien for example as he has a higher percentage of shares than is displayed as of writing, his holding is similar to Kenna's. So who took up the bulk of the shares in the fund raise? I guess as others have said, it will take a few days for the holdings motivations to appear on RNS's as they should do. As the British Steel Pension fund never seemed to declare they were no longer holding the 5 percent stake who knows what will happen though?
Why would you buy at 2p and sell below 2p all within 24hours or so? In the last placing we had to wait a few days for the owners of the shares to declare their %. Don't know what is going on but it looks like its the usual "sell on the news' but someone has been buying lots over the last few days. My money is on stake building but I have absolutely on evidence to support me.
Which suggests the placing shares are getting sold or have been sold already.
Dougal , do you write children s stories , and make them up as you go along, really silly comments do nothing to endear you to the other PIs
This has early take out written all over it !
AGM. Statement indicates funded to Dec 2019
Interesting what's happening in other countries where they are achieving grid parity and even cheaper:
Spain news on Friday:
"The right to collective prosuming and economic reward for producing an excess of energy with net billing are empowering to the consumer," Spain's largest photvoltaic association UNEF said Friday in reaction to the government announcement that it would pass the law.
The association estimates that around 400 MW of new capacity could come online each year as a result.
This is a disruption!
Some Directors .
One assumes.
No for I , though
Best of
Is anyone going to the EGM?