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To provide investors with long-term dividends while preserving the capital value of its investment portfolio through investment principally in operational assets which generate electricity from renewable energy sources.
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Politically, leaders around the world are keen to reduce hydrocarbon consumption from oil and gas for energy generation so it makes sense to transition portfolio structure to renewables.
The stated goal for TRIG Is to preserve capital value of holdings and provide long term dividends for shareholders. This suggests to me that this should be a dreadfully dull asset as ballast should markets turn bearish with a pretty stable, range bound share price, low churn of shares dealt and regular dividends thrown off.
I’ll probably continue to chuck money into this over the next few months to raise its value (to me) in my portfolio which, at the moment means averaging down because renewables is the future for energy production, but I prefer to average up thus endorsing my decision to invest in the first place. Had this been in say IT or Consumer Durable sector, I would press the sell button, take loss early and pick another winner.
Renewables is a new sector for me and an Investment Trust seemed the best way to get long term exposure. It does not excite me at all, my previous direct investments in early stage ventures have been a disaster.... GRPH and VLS
Yes and it was looking quite nice a week ago...I was counting the pennies I was making on each share before I'd even got them now I'm counting the pennies off... I'm still thinking long-term in this share though
Yep that's likely to keep a lid on things. I wasn't expecting to be down so much on some shares I've not even got my hands on yet. Its getting close to the annual dividend.
Just need the market to drop now and drag it down even further.
The extraordinary meeting just allowed the 1903million shares to go up by 600 million in the future. So since the company keeps choosing bid prices at half way between Sp and NVA then we are in for some more dilution. Or at least that is what I'm reading. So good for the company and bad for short term holders of the asset.
Yep that a bit embarrassing, I wonder what's caused the drop? I suspect the placing uptake might not be as successful as hoped. I will have a look later. I'm hoping I didn't get my extra allocation now so I can buy a bit cheaper.
I wonder if the backers are left holding the baby
Well that’s embarrassing..placing 123...Results RNS and Ask went to 121.8 this afternoon.
Last time I succumb to this one.
No I have no fear about the price of electricity. Depreciation is only a book transaction and a way to reduce taxation.
I do have concern about the management charges which seem high and are set by "management".
There are two sides to the underlying business (as opposed to the capital structure and management fees).
Assets with contracts for difference (CFD), renewable obligation certificates (ROCs) and feed-in-tariffs (FiT)
Market exposed assets
The former assets have certainty on revenues for 15 to 25 years indexed linked.
The second set assets don't have that certainty and they are exposed to the underlying market market price.
The former set of assets become part of the second set of assets as their support payments fall off.
As time progresses, all of the assets will be generating revenues based upon market prices.
I am optimistic on market due to the CERTAINTY that:
The nuclear fleet will close as their lifetimes come up.
The CCGTs built in the 1990s and early part of this century will close as their lifetimes come up and higher carbon prices make the less efficient (and older) assets close.
New capacity, and renewables are part of this, have to make up the shortfall.
If you have concerns about power prices down the line, then I con understand your concern in holding this stock.
I don't have those concerns.
That the assets are depreciated is normal for any investment business. When the depreciation payments are completed, it just frees up more money to be released to shareholders.
It is an odd business. The only way it makes money is to buy yet more depreciating assets and then pay a dividend out of the income after maintenance costs and its management fees. So the only way it adds real value is in being skilled at 1) obtaining cash from banks, investment companies and retail investors, 2) diluting its managment fees, 3) reducing its overall maintenance costs and 4) getting more wind or sunshine
While I like the dividend I think it should be setting a more aggressive target to reduce its management fees.
Thanks Bertie.
Yes, I've been watching both TRIG and UKW (Greencoat) for a couple of months now and, although there are differences (TRIG has solar, and a bit of storage, whereas UKW is just windfarms, and TRIG has assets not just in the UK), their share price behaviours looked at over 2 or 3 years are remarkably similar. They go in large waves, with very little long-term increase in share price, with the share price gradually going up at the beginning of the wave, then suddenly falling as another fund-raise is announced, then repeat all over again. You get about 5% dividend (depending on exact price you buy), then put money back into it on each fund-raise, which gradually comes back to you again via the dividend, which depending on circumstances (eg whether you have the shares in an ISA) you risk having an income tax (dividend tax) liability on. I bought some UKW today for my ISA, but it could quite as easily have been TRIG. Maybe I'll end up with both, and hope that their price "waves" happen at different times!
All the best, Mike.
Thanks Mike.
The reason I sold these was that, although not my worst portfolio performer, I wanted to sell some stock to top up RMM where although it may be deemed a higher risk to capital, the upside could be very good. I haven’t really a clue what I’m doing technically but investing post the COVID crash was a no brainer and made me a very good return. Thanks again and good luck.
Hi Bertiethebarrel,
It probably means "subscription shares", which were your entitlement to subscribe to new shares in the company as it is raising more capital and existing shareholders are being given the opportunity to take part. The entitlement date was apparently 3 March, when you still had your shares.
It's all detailed in their announcement here (but you'll probably need half an hour to read and understand it all!):-
https://www.lse.co.uk/rns/TRIG/publication-of-a-prospectus-and-circular-yfxtwqbjohjr1sx.html
I don't currently have any TRIG shares, so didn't read the announcement in detail, but am considering investing and as a result am following their corporate developments reasonably closely.
Out of interest, and if you don't mind me asking, why did you sell yours?
Rgds, Mike.
I have just looked at my bank shares portfolio and noticed TRiG that I sold all yesterday was still there with 400 shares of no value. It says something about issue of sub shares. This is a first for me being inexperienced with shares. Thank you if you can help.
Why bother? It's a way of acquiring more stock without paying broker commission. Every little helps!
Because buying in volume will push the price up.
I certainly will not bother, can't see any reason to.
Will they get this away? It's already trading at 123p. Why take up the offer when there's every chance you can get them cheaper in the market?
That's good enough for me ..... bailed JLEN ex divi back into Trig.
And I've always taken them as scrip. There used to be a tax advantage over cash though I'm not sure that's still the case. But over time the scrip build up can be significant and it means you're not paying broker commission nor the spread to acquire stock.
Neither ..... wait for 123p .... precisely why this share is hard to invest in .... Trig needs to do one big fund raise these relatively little cash raises hit the share price wait for the bottom ... buy the recovery then sell and wait for the next cash raise ... stupid.
Whenever there is choice of paper or cash, I have ALWAYS taken any dividends as cash.
https://www.proactiveinvestors.co.uk/LON:TRIG/The-Renewables-Infrastructure-Group-Limited/rns/935783
anyone else seen this? Any thoughts? I'm on Trading 212 - they'll never be able to handle this!
Seems that it is a Swedish one, Gronhult, to generate 67 MW.
Quite frankly, what’s the worry about the price when it drops. Sit on it take the dividends, every dog has its day, it will advance again. Let’s face it this is the future!
Ex Divi was tomorrow...we were just getting some momentum in-between the mm daily squeeze?