Gresham House Share News (GRID)

LONDON BROKER RATINGS: JPMorgan raises M&S; HSBC likes Kingfisher

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

IN BRIEF: Gresham House Energy Storage Fund new contracts grow NAV

Gresham House Energy Storage Fund - London-based Investment fund with a portfolio of utility-scale battery energy storage systems - Says that Tuesday's T-1 capacity markets auction cleared "slightly higher than expected" at a price of GBP35.79 per kilowatt. Gresham says it has secured additional 1-year contracts across 13 of its projects, with a total derated capacity of 90.491 megawatts. These additional contracts will bring in GBP3.2 million in additional revenue from October 2024 to September 2025, Gresham says. The NAV benefit from these contracts will be recognised at the company's next valuation date of March 31.

IN BRIEF: Gresham House Energy Storage Fund announces share buyback

Gresham House Energy Storage Fund PLC - fund which invests for income from utility-scale battery energy storage systems - Announces start of share buyback programme for up to 14.99% of shares, which the firm intends to review "on an ongoing basis". The maximum price payable per share, Gresham says, will not exceed the higher of "105% of the average market value of the company's shares for the five business days immediately preceding the day on which such share is contracted to be purchased; or the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange".

Gresham House Energy favours buyback over payout; commissioning slow

(Alliance News) - Gresham House Energy Storage Fund PLC on Thursday said it decided against declaring a dividend for the fourth quarter of 2023 as it continued to be hurt by a weak revenue environment.

LONDON BRIEFING: Shell profit falls; announces USD3.5 billion buyback

(Alliance News) - Stocks in London are set to follow New York into the red, after the US Federal Reserve quashed hopes of a March cut to interest rates and ahead of the Bank of England interest rate decision.

IN BRIEF: Gresham House Energy Storage happy with new UK grid platform

Gresham House Energy Storage Fund PLC - invests for income from utility-scale battery energy storage systems; managed by Gresham House - Predicts more revenue opportunities for its battery assets from the launch by the UK power grid operator of the new Open Balance Platform and Bulk Dispatch Optimiser. The investment fund says the National Grid Electricity System Operator has started to trade battery energy storage systems in the Balancing Mechanism. "It is too early to point to the specific revenue impact, but the initial indications are positive and, based on provisional data, are expected to lead to increased revenue opportunities for our assets," the company says, adding it will add more of its assets into the Balancing Mechanism in December and in the first quarter of next year.

IN BRIEF: Gresham House Energy Storage energises West Didsbury project

(Alliance News) - Gresham House Energy Storage Fund PLC on Tuesday said it has successfully energised its West Didsbury project near Manchester, England.

Gresham House Energy net assets down on weaker trading

(Alliance News) - Gresham House Energy Storage Fund PLC on Wednesday reported a negative net asset value total return in the first half of the year due to lower demand and unsteady prices.

LONDON BRIEFING: Flutter buys MaxBet stake; LandSec sees strong demand

(Alliance News) - Stocks in London are set to open lower on Wednesday as investors remained in a risk-off mood amid the prospect of interest rates staying higher for longer in the US.

Gresham House Energy Storage optimistic despite net asset value fall

(Alliance News) - Gresham House Energy Storage Fund PLC on Thursday reported a lower net asset value but touted optimism in its outlook and raised its dividend.

UPDATE: Gresham House backs GBP470 million takeover from Searchlight

(Alliance News) - Gresham House Energy Storage Fund PLC on Monday noted that Gresham House PLC has agreed to be taken over by Searchlight Capital Partners LP.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Gresham House Energy Storage raises funds for Project Iliad

Gresham House Energy Storage Fund PLC - London-based specialist alternative asset manager - Raises GBP50 million through issue of 32 million new ordinary shares at 155.5 pence each. Says funds raised will be used towards its Project Iliad acquisition, a 160 megawatts solar battery energy storage project in California.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Gresham House Energy Storage sets GBP80 million fundraise

Gresham House Energy Storage Fund PLC - London-based specialist alternative asset manager - Aims to raise approximately GBP80 million through a share placing and retail offer to fund its Project Iliad acquisition, a 160 megawatts solar battery energy storage project in California. Up to 54.1 million new shares, 10% of the company's current total, will be sold at a fixed price of 155.5 pence per share. Placing will be run by investment bank Jeffries International Ltd. Size of retail offer will be capped at the sterling equivalent of EUR8 million.