Member Info for Temple_of_Doom

"Hardly seems a rational response but there you go."

Agreed.

NAV in September was around £850 million plus £350 million loans makes around £1200 million in assets. Verne is being sold at around 75% of NAV but there is an earn out of a further £100 million that we can ignore for now.

So £1200 million x 0.75 minus £350 million RCF gives a sale value of £550 million and a valuation of around 63p a share.

There will be other costs of course ... with the question being whether cash flow can keep DGI9 alive in the meantime.

Cash I assume is still coming in from the assets held so I fail to see with dividend suspended why the income can't keep the company alive until the first sale comes through as the hurdle to worry about.

Comments?

I’m wondering why the seller wasn’t notified also by Iceland?

The directors of this company are saving up for their P45s.

OK well I’ve topped up … the risk here is cash burn with the Iceland delay, but DGI revenues with no dividend seem to be fine … anyone worked through the available numbers in detail?

BBC 2017:: "TV tower firm Arqiva eyes £6bn UK listing" ....

"The UK's largest owner of TV transmitters, Arqiva, is planning a £6bn float on the London Stock Exchange expected to be the biggest this year."

Have I missed something here? Why is Arqiva not inline for that IPO with DGI9 holding 48% .... only needs 1 other holder to support the IPO.

Who said “bust”? Might happen, might not happen. You asked a question, I gave an answer. Cash flow is the problem … the investment manager would do well to cut head count if it’s winding down … and save cash. While a few can be dismissed on capability issues in my view.

Hedge fund closing.

The problems in the sector are outlined by GRID that pulled its dividend this morning - namely the reliance on gas in the UK in balancing energy demand. That much is also obvious from the low revenue returns attributed to the UK.

To its advantage, GSF grabs revenues from outside the UK … and will no doubt look to expand while the UK sorts itself out.

It is what it is .. value has no meaning when the hedgies are at play - they want people to fold at a loss. 24p buy cleared at 25.2 late in the after noon ... next buy 23.8p keeping shares to get average down.

GLA.

Wait for the share to go into auction on the downside .. as the likely clue for the day's low. Hedge funds are crawling all around this share IMO.

I might get the £100 m on leverage from CMC .... ;)

Quite … the same scenario was true of Seplat over the Exxon mobile deal that the privatised state company blocked wanting the Exxon assets for themselves they could have bought Seplat out for less than the Exxon mobile price tag.

If only a bank would lend me £200 million ….. ;)

Broker recommendations exist to promote trade or facilitate the "market" .... the broker values IMO are rather meaningless but the direction of Broker recommendations meaningful in the sense that they give a picture to background positions of the brokers.

ARQIVA LIMITED

Company number 02487597

Results on Company House .... Operating Profit nearly doubled 2022/2023 .... all very Bizarre.

The additional risk here … is the fund winding down, and those still holding from the IPO, litigating management that seems a can of worms going forwards. There are assets here, the investment case has presumably not gone away, so as others note, assets were possibly bought at elevated prices, to be sold perhaps at discounted prices, that seems bizarre.

How would pulling the dividend for a year and replacing the management team, or passing the fund itself to another asset managing team fare in terms of maximising shareholder value.

As it stands, simply stating “maximising shareholder value” going forwards is pretty meaningless given the destruction if shareholder value this past year.

Options need to be laid out clearly, in the update for shareholders to make an informed decision, but I’m not hopeful. That said, my average here is about 27p … so not sitting on huge losses with a possibility of good upsides.

"EDF Selected to Optimise 80MW BESS Asset for Gore Street Energy Storage Fund" ...... 60p target is my prediction ... started to buy in at 70p.

Bear raid .... but underlying message seems to be in terms of BESS .... the UK in taking back control doesn't know the difference between the part of its anatomy that it sits on, from the other part resting on the table looking onwards with face held on clasped hands into the abyss. GLA. ;)

Took 209 this morning for a bunch … currently averaging 10p below NAV to looking for 203p re-entry. We will see.

Can you imagine the difficult time the interviewer had at school?

"GCP offers a substantial double digit return this year imo." ... This year or next year ... Agreed.