Member Info for WillJa

We are slowly edging to a 40% discount!!!! Having only just had the nav update you can pretty say that's about right. Buybacks at any discount let alone this wide are accretive (using nav £110 to buy shares 70p for example). Eventually they would buy all the remaining shares and be left with over 40% surplus cash. What's not to like at these levels?

Interesting opinion on the renewable infrastructure sector (towards to the end of the video).

https://youtu.be/JUHDHuF0aEY?si=83O90x1vsZ8s2uln

78p average here, relatively new holding for me since later part of 2024, it just keeps falling, but it has to change at some point otherwise it will get so cheap a takeover bid will happen and off we go. Will look to add once funds allow.

Funny thing is my portfolio is a smattering of renewable infrastructure trusts, TRY, SMCI, few tech ETFs and since my all time high on Feb 10th, had I moved all those funds to a global tracker, I would be worse off at this moment in time, so I'm feeling ok about it all, just about 🤣.

Well if TRIG gets a bid, the SP will make a large jump and these fees shouldn't be factored in at that point should you wish to cash in on the SP appreciation. It's feels like the company thinks they will get a bid because where it's currently trading, fingers crossed 🤞 😂

These points get me excited.

Share buyback programme tripled from £50m to £150m, representing approximately 8% of TRIG's shares in issue based on the share price as at 21 February 2025. 36m shares bought back to date for a total consideration of £33m.

- 2025 dividend target5 set at 7.55p/share, a 1.1% increase on 2024's achieved dividend of 7.47p/share.

Inherent value with clear visibility

- High levels of cashflow visibility, with 80% of projected revenues in 2025 at a fixed price per unit of generation and 60% of forecast revenues over the next 10 years directly linked to inflation indices.

- Over £300m of further divestments and financings being progressed to fund the expanded buyback programme, reduce floating-rate debt and meet investment commitments.

- The current share price implies a 10% dividend yield5 and a base case annualised return of 12%, providing a 7% and 9% equity risk premium as compared to UK and European risk-free rates, respectively.

Lovely Jubbly, great price to lock all this in currently.

I've resisted buying more today, but it's getting more and more tempting with every fall.

My lot is down around 15% roughly.

Trying to laugh it off and if it falls further from here, great I will average down, if it reverses and actually goes up, great my losses are less, every cloud 😂🤣.

I thought open ended investment companies traded at or close to NAV? Via purchase and redemption. I'm probably wrong 😂

39% discount now.

Patience is surely needed here, after all if they keep increasing a covered dividend each year based on their earnings, then surely the SP has to increase along with it? Markets hate uncertainty, so we need a few more updates showing stability in wind speeds (atleast not down), some board purchases, another buyback and covered dividend, the certainty will return along with our SP. If they keep paying the dividends at this yield, it should take around 7 years to cover an initial investment. Plus if this gets too low, someone might come into buy it, there is always equilibrium to be found, we just haven't quite found it yet. These represent a high 16% of my ISA, so I won't be buying more or reinvesting any dividends until more certainly is shown.

Https://youtu.be/mYn5L4a-0Ko?si=Cai_rkrxI5qBIjvs

Like Peter Hewitt and Andrew McHattie have said, things can't go on like this and something has to improve, discounts are far too wide and have been for many quarters. I hoping for come corporate action and subsequent SP appreciation.

Take the ex dividend fall away and it's down around 1.5% give it take, hardly a battering.

Nice fall today, they literally confirm the dividend is covered and continue to buyback shares, no stamp duty either, what is not to like?

I'm in for a few reasons, but the ever increasing threat of a buyout or other corporate action because of the discount is the main pull for me.

If they can sell at nav and buy at discount, fantastic!! Debt is an issue but appears desire is to pay it down.

Reform would never get in anyway, plus companies don't just stand still, they would adapt with any changes good or bad.

But by buying today you get the dividend discount (div comes off the nav and sp, so the ex dividend drop will widen the discount).

Apparently BBGI have had a cash offer?

Won't the next nav update confirm a decent size fall? Thus reducing the discount, as long as the SP doesn't crater along with it. 🤣

This surely means it's an even better buy due to pent up demand, these disclosures will get sorted out.