Member Info for dadean

Covered by cash flow. Sorry message cut off because of this hopeless website..

Gold cratering today.... Not sure if it's risk off or on today...

Hopefully!

Potentially reasonable opportunity to buy for near 10pc div here which is healthily cove

For what it's worth, Interesting gore street battery fund just increased their divided from 4p I think to 7p, new yield 13% on share price, quite the increase.. Looks like was part of new strategy.... Certainly more positive than this one was

Think about it, attempting buy back over 200m shares, before you got half way you'd likely have doubled share price. Half shares in existence, nav per share would be not far from £1.60.. I know it's all just words but shows what financial engineering could do

Imagine, buying back close to half the shares would cost not much mire than 100million, that could be done by selling 100mw and either a year's worth of old div or the rcf..... That shows how cheap things are here

I know they can't do it at the moment but as others have said buybacks from free cash flow and even sales of sites close to nav would be very positive to nav and share price, they should discuss resuming this with largest shareholders, namely uss pref shares

Good points, you should feed this back to investor relations. I also intend to write to them as I don't think they could have handled things worse if they tried.. It's astounding the missteps in their strategy...

I'm sure any one of us could have read over their proposals and highlighted likely outcome.. Way too conservative and negative

On the batteries, gore streets "Big Rock" is a beast 200mw 2hrs (400mwh)

I'd agree with sentiment around batteries, just see the value destruction at gore and grid... First adopter pain there.... Nesf for goodness sake don't sell too many of the assets you hold to waste time effort and finance in completely un subsidised battery, 100mw total fine. More than that, no thanks really

I think one thing for me I underestimated was the (up till recently) fall in the forward power prices, I saw in the annual accounts revenue holding pretty steady. But prices were falling leading to reduced earnings. However I personally don't think that will be the long term path.... When looking at electrification of personal transport and heating, energy use likely increase by around 50pc over next ten years, just as nuclear and old gas plants roll off... I still believe this is a reasonable sector to invest in and am happy to wait for the discount closing... Surely at this price it's low risk now

I think yesterday's debacle came about due to the pref share holders, by conversion with no change they'd have a 60% haircut on their principle, so by bringing in nav stability or growth they'll get more later... It's taken at least 4pc per year from (nav growth) us to them leaving us with less than before our 11pc.. We should benefit too in the short to medium term as it will close the discount.. For me this has gone from good to mediocre..

Ultimately nothing today changes the fact, if you bought in here for a rerating to 80 to 90% nav , we'll hopefully still get there eventually, only it may take a little longer. For longer held investors it's been a poor investment unfortunately with many headwinds.

If you do rough maths after removing 100mw subsidy free solar, pay the pref div, pay the long term debt, put 8m plus to development, you have 37m for the div, 6.3p.. They can pay more

I guess the pref share holders are the ones who were discussed with, they likely pushed for nav preservation otherwise they'd have taken a big hit at conversion.. Ultimately revenues the same, leverage the same, earnings the same so on the back of it not as bad as feared however use of the cash different, I'll miss my 16pc dividend

They stated saving 40m over 5 year through the div cut, well if they cut the div 16pc that comes to 40miliion, the cut is more aggressive than needed. Jimothy made a good point, if they continue as Is and nav improves in lieu of div just sell some shares anually to recoup lost div.... Again I'm not impressed but added a bit more... Ironically we are at only our January low if add back x dividend

If that's the best they can do with the strategic review, we can get this thing discontinued at the next vote and get our 90pc or so of NAV... so poorly executed.. Really disappointed in them

18pc down now temporarily I hope

Serious misstep and yes so far the market does not like it... Think of ukw greencoat wind 10pc div plus surplus 200m near 8pc cash for reinvestment. It's like these guys got own numbers wrong

I'd say this is a serious miss

That's a 5.3% yield on NAV. Ridiculous