Member Info for ghhgdd

Don't forget it's £10m less £3.1m of net cash - as at April. I have no idea, but it could be higher now given this has been a good year for corporate transactions? So in reality it's £6.9m paid in shares.

Good point!

I did like the wording "finally sold" too - adds to the impression we should have got something of a bargain when buying assets in this region.

Not likely anything to do with us!

" The buyer's name has been kept secret but, according to our sources, it is a Canadian start-up, recently set up with executives with strong experience in the African oil business. If the transaction is completed, the assets will be the first to be acquired by the new company on the African continent. "

Seems like quite a large discount to me!

Oops, wrong link, sorry: research-tree.com/companies/uk/training-recruitment-services/ince-group-plc/research/capital-access-group/ince-group-explainer-note-partner-remuneration/23_2020101910045298178

The partners don't get any salary or bonus. They get a fixed % commission based on the cash the bring in. research-tree.com/companies/uk/training-recruitment-services/ince-group-plc/research/capital-access-group/ince-group-explainer-note-2-deferred-consideration/23_2021051710364967558

My understanding is it also encourages domestic gas consumption, improves stability/consistency of the regulatory and tax regimes, and improves the environmental performance of the industry.

Looks like we should have news on that before the year is out.

I can't find any independent corroboration of who these people are? How have they evaded all media coverage or comment from recognised medical authorities?

I would also say that this is a VERY weak report - no comparables or context is given. It also misunderstands the Yellow Card Scheme. It's suspicions reported by medical staff. It does NOT draw any conclusion on these suspicions. So out of 39,000,000 people vaccinated, 1,253 were reported to have died where there was a suspicion of some link with the vaccine...if you look into this futher, then any cause of death other than age itself is basically enough to be suspicious.

Given that the vaccine has predominantly been given to old people, I find any intepretation of the data suggesting that the vaccins represent a danger to be highly suspicious, bordering on ridiculous, tinfoil-hat-level thinking to be honest.

research-tree. com/newsfeed/article/aex-gold-inc-exploration-team-arrive-on-site-1218377/3b5b1dae-3640-459c-9028-f867e9b233f2

"A premium raise at 30p wouldn't be dilutive. A nice new platform to launch the new RTO'd Save."

Depends on your view of the intrinsic value of the business. To my eyes it would be hugely dilutive.

If it's a $400m deal how much do you think could be funded by debt? Provided it's >75% then should be doable given $106m of cash at year end, and I'd assume a bit more now.

A positive RNS this morning I thought; shows the Legacy growth potential is still there.

I think you're right, we're pretty close but perhaps disagreeing on deal potential! I'd be wary if he deals start to take a turn for the worse, but am happy to trust management until then really.
Best of luck!

I sympathise with this view, but equally cash is finite and this is a growing business. If you have $100m of spare cash, you can buy 1x $100m asset, or add $100m of debt at 50% leverage to buy 2x $100m assets - which will double the returns for a minimal interest cost. Or you could use the cash to repay existing debt and not buy a new asset at all? Why would you do that?

Provided there's a supply of deals to be done, carrying debt makes sense.

testpack3, you replied
Amortisation is the process of 'paying off' debt over a time period. It still has to be re-paid. I agree that funding asset purchase is best through debt rather than share based fund raise, but it is debt. I would like to see a more concerted effort in paying off debt, so at least, significant part of future purchases can utilise 'cash in hand'.
Fixed rate depends on the rate. Not good if it's old debt at 10% p.a.

Amortisation is repayment of debt on a fixed schedule, so it is being paid off, as it comes due. This debt is attached to each asset individually, and the parent co isn't liable for it, so it's very low risk to shareholders. In addition the term length for these loans matches the length of the PPAs, most of which have very predictable cashflows and I really don't understand why you'd want to pay that debt off early?

Using cash to fund purchases is all vey well but is hugely limiting when there are so many opportunities available. Debt is a valuable corporate tool, ESPECIALLY when it's structured like this is. I'd be disappointed in any management team that didn't use debt to fund assets like these.

I'm not sure why you think the debt needs to be reduced? It's mostly asset-backed lending that amortises, so there's no re-fi or contagion risk from the majority of it. Further, most of it is on a fixed rate, so there's no rate risk either!

There's a huge pipeline and debt funding is a sensible approach.

Debt only a problem here if you don’t understand it. (1) Cashflows are incredibly stable and predictable and (2) most debt is asset finance and not linked to the parent company.

Sorry! Just remove the spaces. research-tree.com /companies/uk/other/appreciate-group-plc/research/capital-access-group/appreciate-group-initiation-note/23_2020112403595474746

For anyone looking to understand the name, this brief introduction note is quite helpful: *********************/companies/uk/other/appreciate-group-plc/research/capital-access-group/appreciate-group-initiation-note/23_2020112403595474746