The Renewables Infrastru... Share Discussion Threads

[jonwig] 10/7/2015 06:41

topvest - haven't looked across the wind sector, but it's worth considering.

If you look at INFI, that's a real blow, considering their debt.

[topvest] 09/7/2015 21:44

Seems a bigger hit than most. I presume this is before any corporation tax benefit. Any views on why it's higher for TRIG than for Greencoat UK Wind? The government are making some really poor decisions on green energy - typical politicians messing with things and reneging on promises. Doesn't help the valuation of any of these trusts as you start thinking what next?

[jonwig] 09/7/2015 08:01

Initial estimation - Budget impact of approx. 4p hit to NAV:



"The Company's unaudited NAV per ordinary share as at 31 May 2015 was 101.9 pence."

[wirralowl] 24/6/2015 21:22

Yeah, one of things I took out of all the discussions around the Scottish Ref. was that even if the Nationalists won, they would be supportive of their onshore wind industry.

As a result, think I'll be more relaxed holding TRIG in advance of when/if we have the next one.

[jonwig] 24/6/2015 19:09

The Scots seem to like onshore wind - more of it and less nimbyism?

And TRIG must have sounded out the likely demand before committing to this deal.
Cost of 55p or so per W seems in line with earlier deals.

[wirralowl] 24/6/2015 14:55

Institutional placing announced @ 105p for 142.5m new shares.

[asmodeus] 13/4/2015 18:06

Or Redmayne Bentley.

[hindsight] 13/4/2015 09:53

Idealing are pretty good

[wirralowl] 02/4/2015 13:03

Thanks very much for your reply, jonwig, TDD don't sound ideal then for what is primarily a bond portfolio, though interesting to hear you can have a USD account with them, which is something I may well look into separately.

Will take a look at Charles Stanley over Easter, as I've heard good things about them from others too.

[jonwig] 02/4/2015 12:29

asmodeus - no, I think you have it right ... they've checked the box "An acquisition or disposal of voting rights", and the numbers work.
But they may have taken them in the placing, of course.

Wirral - considering they are cheap, I'm reasonably satisfied with TDD.
I can buy USD stocks without currency transaction and have a USD account with them.
New issues aren't so brilliant - eg. I can't apply in our joint dealing account for a new issue which specifies individual investors only.
Also they don't do corporate bond issues.

We've moved about 1/4 of our portfolio to Charles Stanley as "advisory-managed", charging 1% pa. This might seem daft, but my wife leaves financial stuff to me, and I'm not getting any younger - eventually we'll need them.
They are very much on the ball, and have already saved me a bit by getting corporate bonds at issue.

[asmodeus] 02/4/2015 11:14

Unless I am misreading it - Newton Investment Management have increased their shareholding from about 8m to about 37m - so now holding 7.26%. But I often get things wrong ...

[wirralowl] 02/4/2015 08:54

jonwig, off-topic, but how do you rate TDD? Do you hold any retail corporate bonds with them, and if so, do they allow online dealings? I'm considering a move from selftrade/equiniti, but its primarily a bond portfolio I have with them. TIA and apologies for off-topic.

[wirralowl] 01/4/2015 20:31

jonwig, if its any consolation, idealing didn't offer it either (and haven't offered the additional placing as yet, though I've dropped them an email too).

[mojorising] 01/4/2015 12:04

jonwig, as i understand it, the shorters have to have pay any declared dividends to the lender, but from their own funds, as they don't have procession of the shares to collect dividends. It is one of the dangers of shorting a share like this, that pays large dividends, and the price usually recovers the dividend amount quickly after it goes ex-div.

[jonwig] 01/4/2015 11:12

mojorising - as I understand it, if you borrow stock to sell short and collect a dividend, you'll have to forward it to the lender.

TDD failed to advise make available the 2014-15 open offer but have opened the 2015-16 offer (after prompting).
Advise early application from 6th onwards.

[mojorising] 01/4/2015 10:15

Elliot capital reduced short by 1.58%. Taken a loss no doubt and paid dividend.

[asmodeus] 19/3/2015 11:15

"New NPV (No Par Value) shares", Jonwig. (Re: your 82).

[jonwig] 17/3/2015 08:37

Fundraising is at 102.25p, which is a premium to latest NAV. Given the current share price is it worth it?

But these do attract 0.5% sd in the market, as well as brokerage. A saving of around £25 per thousand against market purchase.

[jonwig] 09/3/2015 10:09

The Board of The Renewables Infrastructure Group Limited announces that it is proposing to undertake an issue of equity pursuant to its Share Issuance Programme. The proposed fundraising (the "Issue") is currently expected to take the form of a placing and offer for subscription of New Ordinary Shares to close in late March 2015, with an additional offer for subscription closing in April to take advantage of the new tax year. An announcement giving further details of the Issue and the publication of the new Securities Note and Summary relating to the Issue will be made in due course.

C shares again, or ordinaries? I don't think I'd want to pay a premium to existing NAV, and they won't issue them at a discount, so...?

[jonwig] 25/2/2015 08:14

Thanks - for some reason I missed those and they weren't on my calendar.

They've indexed their dividend: 6.08p (3.00+3.08) goes up next year to 6.16p (3.08+3.08 at least) on their forecasts.

[cwa1] 25/2/2015 08:06

Results:-



Brief commentary:-

Helen Mahy, Chairman of the Company, said:

"The Board is delighted to report strong results demonstrating the quality of TRIG's portfolio. The Company is underpinned by a strategy of diversification meaning TRIG has remained resilient in a year characterised by falls in energy prices and variable weather conditions."

Richard Crawford, Director, Infrastructure, InfraRed Capital Partners, said:

"TRIG has delivered a solid performance based on the strength and resilience of its portfolio and strategy and has continued to deliver returns for shareholders in line with the Company's targets. In the year, TRIG has grown its portfolio by more than half through selective acquisitions and we have a healthy pipeline of projects available across the Company's target markets, positioning TRIG well for further growth in 2015."

[cwa1] 18/2/2015 08:51

Morning All

Just had a small nibble. With XD tomorrow, effectively paying just under 100P at a little under 103P buying price.

[mojorising] 08/2/2015 12:17

info on the short

[wirralowl] 18/12/2014 15:29

Thanks for the link, Jonwig, interesting article.

Nice to see the price recovering strongly this afternoon. Resisted the temptation to top up yesterday (when offered sub £1) but still holding on to my full stake. Still a little bemused about the hedge fund's short position on this one, far easier targets in my mind.

[jonwig] 18/12/2014 07:02

FT: "The Big Drop: Cheap oil burns green energy" -



... confirms views from the last few posts.