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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aquila Energy Efficiency Trust Plc | AEET | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 63.75 | 08:00:04 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 65.00 | 63.75 | 65.00 | 63.75 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 16/02/2023 | Interim | GBP | 0.0125 | 02/03/2023 | 03/03/2023 | 20/03/2023 |
| 03/11/2022 | Interim | GBP | 0.0125 | 17/11/2022 | 18/11/2022 | 09/12/2022 |
| 15/09/2022 | Interim | GBP | 0.01 | 29/09/2022 | 30/09/2022 | 31/10/2022 |
| Top Posts |
|---|
Posted at 15/4/2024 15:15 by hugepants I don't think any of these kind of trusts would get sold at, or around, NAV just now. Especially the ones geared at 30%-50% of which there are quite a few. Interest rates are just too high. At least AEET already has substantial cash on the balance sheet though. |
Posted at 06/3/2024 14:57 by hugepants NAV is up slightly to over 94p and initial tender of £17.5M |
Posted at 26/2/2024 13:29 by hugepants Maybe I'm just thick but are the company contradicting themselves here? From the interims to end June 2023;"By 31 March 2024, as a result of the expected run-off of certain investments, in particular the Superbonus projects, the Investment Adviser expects the Company and its immediate investment holding entities, to have no less than GBP24.0 million of cash (prior to any dividend or return of capital to shareholders). " They make the same statement twice in fact but then later in the document there is the following which reads like a delay. (But if so why initially emphasising the March2024 date) "The Company had committed GBP32.5 million to five clusters of Superbonus projects, as at 30 June 2023, a small increase in base currency terms compared with the position as at 31 December 2022 of GBP33.0 million. The net cash deployed increased from GBP18.1 million as at 31 December 2022 to GBP29.0 million as at 30 June 2023. Significant progress has been made on the 109 individual projects within the five clusters such that construction has been completed on 84 of these projects to date. 40 of these 84 projects have secured their final tax credit accreditation and 9 projects have been fully completed, with payments totalling GBP0.9 million for those tax credits received. However, the ESCOs are experiencing delays in receiving certification that the projects qualify for tax credits and the buyers of the tax credits are taking time to make the payments due. As a result of this, the projects now have a longer maturity than originally forecast. This results in additional interest, currently at the rate of 10% per annum, being earned by the Company on the capital committed and deployed. As a result of the delays, the ESCOs are expecting the majority of the capital deployed to be redeemed by the end of the second quarter of 2024 with final payments expected in September 2024. This compares with their earlier expectation of the majority of capital deployed being redeemed by the end of January 2024" |
Posted at 09/1/2024 12:26 by cousinit I suspect you may be right. Weiss have also been popping up on IT registers and unlike Saba seem to prefer alternatives. Weiss seem to transact in chunks rather than nibbling away.A number of the yield-y alternatives have started to drift lower after the rally post October (although AEET missed that - I guess the lack of div guidance means even fewer friends). Bond yields seem to have retraced 25-30bp from the lows but are still 100bp below the highs. That should make the underlying assets here a bit more attractive to any potential buyers that the Board are engaged with. Does feel like a lot of people are back to sitting on the sidelines again so forced sellers can't be too picky. |
Posted at 25/10/2023 11:06 by cc2014 Another decent sized trade for AEET at least and still loads of liquidity.It seems to me the buyer is happy to soak up everything they can get at 55p |
Posted at 27/9/2023 08:26 by cc2014 Regrettably I suppose I shouldn't expect anything any different when we are talking Italian government administration of the scheme"40 of these 84 projects have secured their final tax credit accreditation" and we continue to get 10% p.a. while we wait. I doesn't especially concern me but it seems AEET can't get much of a break with regard to anything |
Posted at 27/9/2023 08:11 by cc2014 Dividend binned as directors have undertaken to only pay dividends out of "revenue" and they've spent so much on fees with regard to the wind-up it looks like there wasn't enough left.I expect there will be a final dividend but surely more will be spent on fees in the second half? I'm really struggling with the decision to wind this up. Nothing I can do about that but it does seem that the institutions pressed the self-destruct button |
Posted at 27/9/2023 07:56 by hugepants Interims: The directors aren't helping much. No dividend announced despite cash earnings of 0.71p They don't say why just they've decided not to! Also no mention I can see of a 4th quarter distribution so it looks like its going to be a while before shareholders see anything back unless there's a sale of all the assets (process ongoing). |
Posted at 14/9/2023 12:34 by frazboy Having delved through most of the above posts, and the most recent company announcements I have to say I find this an odd one. Floated just over a couple of years ago and then has a continuation vote not long after, which doesn't get voted through due to lack of liquidity and size...Spangle, If I'm reading the reports correctly the cash on the balance sheet was largely committed and thus that isn't the correct way of breaking it down. Could be wrong tho. Having said that, when the Italian super bonus projects redeem in early 2024 the cash on the balance sheet will be real. HP, did you see something about a capital return this year in the announcements? Couldn't find anything. Should hopefully get a dividend of some sort from cash flows from committed and funded projects as per the new dividend policy but I've no idea how much. Return and distribution of capital from the superbonus projects supports the investment case (and the widening discount to NAV at that point on the remaining projects) but I'm not sure how fast they'll find a buyer for the other projects. There are rather a lot of them, don't know enough about the realm to know whether selling the job lot is realistic. Still didn't stop me buying a few in hope though! |
Posted at 17/8/2023 13:38 by cynicalsteve Hi CC2014, I'm one of the retail investors you are talking about, I reduced my holding by selling into (relative!) strength in March. Today I made my first purchase since February, a mere 1457 for my ISA. AEET looks cheap but many other alternative income funds are now looking cheap so I'm spreading my money around (NESF for example). Disappointed there hasn't been any dividend news yet. |
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