Member Info for Krustysmegma

Was going to ask a question along similar lines Gavster. I suspect the dividend cover is coming under more pressure as the forward power pricing rates drop. Not surprised the market has dropped this down.

Interims likely early September, hopefully things are still progressing as expected here. Will make for interesting reading.

I'm not paying any management fee on HL omir. As you say, you're buying the company, not one of its funds.

This is excellent news. Shares Magazine ran a lead article a couple of weeks ago about the opportunity for AI to transform biotech, I didn't think SAR would be amongst those at the forefront though! Let's hope this is the start of a long and successful partnership for both parties (although this might be the only freebie).

Trouble is Lending, this model works fine when you've got 5 or 6 workers for every pensioner, as there would have been when life expectancy was 70 - odd. Now we've got closer to 2 workers for every pensioner and modern drugs & science are keeping us alive for many more years. Result = chaos, which has only just begun.

Investor Meet Company skating on pretty thin ice too, emailing with what appears to be advice to vote against and listing reasons why, only to be forced to retract & make clear the email was written by GSF! Very naughty. I wouldn't be surprised if they leaked the shareholder information too - they always conduct a poll asking if people are existing shareholders when attending online meetings.

If only the Board had put in the time & effort required to protect our dividend that they've spent defending their own positions, we'd all be happy and none of this would have been necessary! It is apparent from their actions, and their sudden very clear communications, where their priorities lie.

Well they reduced the dividend in 2024, so I think they would do it again if they felt it was prudent. To be fair, I'd rather receive a lower, fully-covered dividend than have it maintained but not covered. As Dartron says, it'll still be a decent yield as long as they don't have to cut too drastically. I still think there are options, either to reduce the debt & therefore reduce the impact of a higher bank rate or recycle capital (as AEWU does extremely well) to increase income. Let's see how it works out, I'll be holding for now.

Peteret, bear in mind these dates are a "best guess" on Dividend Max and nobody knows what/when until the company actually declares dividends. Having said that, I use Dividend Max as a guide as they're usually very reliable.

21 August.

Well there it is in black & white this morning, "This increase in cost will, when the new facilities are drawn down, mean that there will be a reduction in distributable income.". Dividend cover down too. They have agreed terms with lenders on new facilities but are in no hurry to tell us what those terms are, which is slightly worrying. Looks like the market was right (shock!), the dividend target for next year is bound to be reduced IMHO.

Ali, I 've seen suggestions that rates in Ireland are not sustainable and are therefore likely to drop at some point in the future. Already a lot of GSF eggs in the Irish basket.

Now I've had a postcard from "The board of Gore Street Energy Storage Fund plc" (via Equiniti Proxy Engagement) urging ALL shareholders to vote against the 4 proposed resolutions! Am I still the only one receiving these communications?? It can't all be down to me lol. I'm going to ask where they got my details from, not that they'll tell me I'm sure.

Hi Sam, nice to see you in here! I've been invested since 2021 and adding whenever funds allow.

I've just been watching a recording of the recent presentation on Investor Meet Company which you may find interesting if you've not already seen it. From my point of view, Laura and the team inspire a lot of confidence in their ability to generate the current 8p dividend per year with opportunities for increasing returns in future years subject to funding being available for further investments. I also see the possibility of M&A activity in this sector but very much hope any such arrangement would be led by AEWU rather than them being subjected to a potential takeover.

Anyway, good luck here, keep in touch as always. K

Spondy, they wouldn't replace NEDs with insiders. It wouldn't meet their (or any other UK-listed company) governance criteria.

I've heard Alex talk about GSF a dozen times on Investor Meet Company. Trouble is, it's a different story every time. For me, that's where the real issue lies, not with a couple of NEDs.

PhilipFG, just over 7 years for me.

Pip56, "on behalf of Gore Street".

SB I'm with HL, so it surprised me to be contacted as how would they know I hold shares? I haven't attended AGM's or other meetings in the past.

TT GSF is one of the larger holdings in my portfolio, but only in the low 10's of thousands. I'm sure there must be many posters on here with more shares than I have.

Wow, just had a phone call asking me which way I intend voting! Never had that before in 40+ years of share ownership. Anyone else had a call?