Member Info for Bev88

Those of us at AGM yesterday half expected to hear tales of woe. In contrast it became clear that they have covered their positions in the declining steel and coal markets astutely. They have positioned themselves with greatly reduced borrowings and massive land assets which they seek to utilise in an intelligent and opportunistic way , and despite Governmental dithering on power see interesting possibilities ahead.

One or two short term holders have taken the discount to assets to over 40%. When added to low borrowings,sound management and increasing dividend,if anybody knows of better value elsewhere, please let us know!

What has impressed me over the years since Hargreaves floated is the resiliance of the Board. They have been dealt shockingly difficult cards on numerous occasions but always found a way to maximise the positives in any given situation. Credit is due to all concerned..

A purchase of 250,000 shares at 96p was logged late this afternoon- presumably mopping up stock released by recent sale by director,and some!

Drax is in fact valued in the market at just over a billion pounds.

Jollyspeculator is correct about complexity of Government involvement etc. The harsh reality ,however, is that without Drax U.K.would have major power outages,which must be a huge bargaining asset, let alone the need to meet renewable targets that would be drastically affected. To put it into context South Africa is building a new power station at Medupi-commenced in 2007 expected on line by 2020,coal powered and only a little more output than Drax, employing up to 13,000 workers costing several billion pounds and yet Drax is valued at a measly million pounds. These facts indicate to me the mispricing here ,and in my experience. value is usually king in the long run.

If you knew the lengths the superb management have gone to in order to minimise the emissions of carbon dioxide,sulphur and latterly nitrogen you wouldn't make such trite remarks about a company that reliably produces around 7% of affordableU.K. power without which the lights would go out when the sun goes in on a still day.

My twenty five years of following and believing in this management is being repaid in spades following today's fantastic results-regards to all those who have followed my previous input here.I'm looking forward to the champagne at AGM with other fortunate holders.

As usual today's results justify faith of us long term holders with big div. uplift as a bonus.Hard to imagine a better home for one's cash. Well done to all concerned!

I struggle to think of a safer home for one's cash than one invested in the nations power grid and gas pipelines-let alone to be rewarded with a 5% dividend.

Having spent 3 hours on a tour of the plant today it became clear why Neil Woodford has recently invested in them. The operation is a class act and management has adapted astutely to the changing power scene . Given an even handed deal from the Government for their innovative biomass investments ,you wouldn't back against them!

Having attended many AGMs both at Marshalls and elsewhere, I have rarely seen more confidence shown by both Board and shareholders, who re-elected Board by an unprecedented margin of over 99% for each member. This is class operation in a great niche of infrastructure spending.

Judging from price response AGM must have been positive- anybody care to report?

Attended AGM this morning to try to assess calibre of BOD and came away impressed with enthusiasm and depth of knowledge on display.This company has engineered itself, into, potentially, a very strong position at the sweet spot of reliable,green, affordable and flexible power generation which the country desperately needs with major closures of reliable plant and replacement by temporary , horribly overprices alternatives.

Witan has chosen three teams, all with proven local expertise ,driving value with a flexible remit in this fast growing region. They are competing with each other and are closely monitored, hence the results are beginning to show . Despite this, the market still discounts the share at over 12%- not for long one would suspect

Following the surge on the realisation that the asset value is around £160 a share , together with tipsters promoting the stock,.short term punters have inevitably been sucked in and are now departing. This will leave things for those of us who are in for the journey to enjoy the resumption of a steady upward trajectory where simple logic of heavily discounted value, expertly managed, will prevail. A share split might be helpfull.

Where else can you buy attractive,expertly managed assets plus free cash at a 30% discount . The management has a track record of performing and returning cash to shareholders. This is a stock that is under the current market radar.

I'm with Petronius-have been watching for ages and now buying in tranches since below 30p. There have been clearly some nervous holders shaken out , panicked by lower oil ,who may well live to regret. For this stock. to be capitalised now at under £32 million looks a total misprice to me, as they are smartly into green energy that works.

Given the bullish management update in November since when the major imput cost I.e.oil has plummeted , this company would appear to have the wind in it's sails. Add to this the dominant , and position it enjoys in a buoyant construction sector- hard to find much not to like!

As well as a well managed UK property play at a substantial discount to asset value Daejan owns a considerable US portfolio. Add the low borrowings and huge management holding of stock , this company has diverse attractions with plenty of upside potential.