Aquila Energy Efficiency Share Discussion Threads

[stagvalley] 20/5/2024 22:48

Thanks HugePants, very helpful.

[hugepants] 20/5/2024 22:37

Stag, It's not really a suggestion, it's all there in the results.

"...As at 31 December 2023, the Company's cash position, including cash held as collateral for foreign exchange hedging, was £29.1 million.
Notwithstanding the remaining investment commitments (£5.9M), the cash position is forecast to increase significantly due to the expected realisations
of Superbonus investments, which were valued at £30.9 million as at 31 December 2023 and which are forecast to be realised in full by 31 December 2024..."

There's clearly going to be a big redemption end of year ish. And there are only 82M shares now.

[stagvalley] 20/5/2024 20:57

Very interested in HugePants' suggestion that there's significant additional cash that can be realised shortly. Can others corroborate that?

Note that the Board reported in April's Annual Report that some relationships with ESCOs have become strained and "If these relationships deteriorate further, there may need to be additional impairment to the value of some of the company's investments'. It's not clear whether that's a penny or two pence per share or something more material. But it raises the question as to whether we could get some cash returned at close to 95p a share as HugePants is expecting. Views?

[stagvalley] 20/5/2024 20:20

I got notified in a timely way by HL. Also got over 24 percent of mine accepted on HL platform so certainly some HL clients didn't tender. You can also register for RNS notices with HL so you get the earliest heads up.

[hugepants] 17/5/2024 11:18

yes same 20.6% with IWEB. I think IWEB and Halifax are the same outfit.

[cynicalsteve] 17/5/2024 11:14

Only 20.64% of my Halifax AEET shares sold, I suppose this means that we Halifax customers are a sensible bunch who almost all tendered their shares. Remaining shares are back in my account and can be traded, unlike Barclays where they show in my account but can't be bought or sold!

[hugepants] 16/5/2024 23:55

Nothing from IWEB or IG yet.

[spangle93] 16/5/2024 21:45

CousinIT - you certainly can't rely on HL notifying you, in a timely manner, about actions to be taken, or other pertinent changes to any stock.

Having said that, I find their site to be intuitive to find your way around, and therefore good for research.

[cousinit] 16/5/2024 16:18

I guess I ought to say thanks, coder, but that kind of sucks. If I've ever been in a similar potential situation, I've messaged them immediately following the trade and managed to be included in the corporate action.

[31337 c0d3r] 16/5/2024 15:10

I bought in for the tender offer on 2nd May through HL, but they didn't give me an opportunity to take part. Luckily sold out yesterday before the fall.

Situations like mine help to give you all a slightly higher excess tendered.

[dodgyknees] 16/5/2024 14:40

My recent purchase shown as a sale.

[cousinit] 16/5/2024 12:53

I'm currently transferring some more of my HL ISA away. I did receive an email asking me if I was sure and to let them know if I changed my mind...

The last time I did similar they phoned me for feedback and said that any comments would be 'taken on board'. Not seen a great deal of evidence of that, although they are probably not quite as bad as they were a couple of years ago, but that's not really saying much!

[robards] 16/5/2024 11:41

cynicalsteve, I'm in ii and received an email notifying me of the corporate action in the usual way. You'd only know what exactly it was about if you already knew the news (as you should) or bothered to click through. I suppose some don't!
That said, it is quite hard to find the means of responding to the offer on ii (I found it impossible in the mobile app, had to use my pc to go on the full website).

[cynicalsteve] 16/5/2024 10:51

25.9% sold in the tender with ii? Somethings gone badly wrong there. If lots a small shareholders didn't take up the offer then the offer wasn't communicated correctly to them by ii. If a large shareholder didn't take up the offer then the police need to be informed so they can do a welfare check! Still waiting for news from Halifax share dealing.

[spangle93] 16/5/2024 09:34

HL is a shadow of the company it used to be, but still charges premium prices.

One of the directors here also took advantage of the tender offer. Maybe the other directors did too, but hold their shares through Hargreaves Lansdown.

[chucko1] 16/5/2024 08:19

With ii, I managed to sell 25.9% at the tender price. Clearly, the average ii punter is a little dimmer than others. (or, more accurately, some ii punters are much dimmer ...)

As for HL, no signs of life. Still with the original holding and not available (clearly, therefore) to trade. That's pretty poor. It's one thing getting a dividend late, but not being able to trade when others can is a real risk.

[spangle93] 15/5/2024 23:12

I now have 79.9% of what I originally had with CSD.

A fraction more than the basic entitlement, but not 100% :-(

[cynicalsteve] 15/5/2024 17:47

I've just seen the result of the tender for the small number of shares I hold through Barclays. 21.6% have been sold, presumably because of the nominee effect described by HugePants. I have a much bigger holding with Halifax but because of its size I don't expect there will any extra sold.

[robards] 15/5/2024 14:31

CC2014, I'm wavering between the two... i.e. between thinking about where we were recently and having the confidence that there is more of the same soon at about the same price.

[cc2014] 15/5/2024 09:51

tbh I'm not sure why the most sensible approach isn't to take the proceeds from the capital return and buy more AEET and then get more back at around 95p around Christmas.

Also, most of the market has moved up 5-10% whilst this has been locked for trading at FTSE has got a wiggle on so I wouldn't be surprised that any stock coming on the market will just get absorbed.

Certainly I don't think there's enough in it to sell and hope to buy back lower given the spread and stamp duty.

[hugepants] 14/5/2024 13:44

There were over 9 million shares not tendered. If some of these were in the same nominee account provider as you then you could get filled by a lot more than you expect.

[hugepants] 14/5/2024 13:43

Perhaps but it looks like there are approx £30M in SuperBonus bonds to be realised over the rest of the year? That's half the market cap and should support the shares imo.

[robards] 14/5/2024 13:24

I'm assuming there will be some selling tomorrow after tender offer is completed; and assuming that there is no selling going on now because most people, like me, have all their shares on offer to the company.
Thoughts?

[cc2014] 14/5/2024 12:24

I think it reads like this.

If you had 100 shares and tendered 100 shares you get
100*0.18561 = 18.561 +
(100-18.561)*0.01819 = 1.418

Total 20.042 shares redeemed out of 100 or 20.042%