Now that's an interesting RNS.
Where are Peel going to get 650k shares to fill that order?
We will likely learn something today. |
From the half year report
"If any Continuation resolution put to shareholders is not passed, then the Directors shall, within six months of such Continuation resolution not being passed, put proposals to shareholders for the reconstruction, reorganisation or liquidation of the Company."
So, if you vote no, the directors have 6 months to decide what to do and then make a proposal which would then be voted on again.
Since the directors are recommending continuation now, out of those three I would see them going for reconstruction or reorganisation if the continuation vote fails. Liquidation makes little sense now the fund is all but fully invested |
Dear Mr. MM,
You can have my stock at 95p. Well, maybe. If it gets to 95p, I'll probably want 100p |
Andy,
PM sent. |
Is anyone able to buy AEET today?
I see only one broker available at 72 (vs quoted price of 67.5-70.0). I guess whoever was selling heavily over the last few months, is now waiting to see how the continuation vote goes.
I also see one broker is trying to buy 250,000 shares, so must have been mandated by a big investor to accumulate shares (which is also why he not selling any shares at any price) |
Is there? On-line I can sell a large number within the spread yet I can't even get a quote to buy 1000 shares.
It seems to me they are creating a false market to either square their book or they have got an order to fill for someone.
I'm not really bothered. I've got plenty and happy to wait them out.
I expect the MM will square their book eventually. They usually do. |
yes but still a big seller though.
NAV at end Dec announced at 95.4p which is higher than I expected.
and the 1.25p quarterly dividend goes ex on 2nd march |
QuotedData’s morning briefing 13 February 2023
13 February 2023
"..The continuation vote was brought forward from 2025. The shares are trading on a 32% discount (this has been widening again in recent weeks) and the trust is sub-scale. We recommend that shareholders vote against continuation. The board says the opposite..." |
 circular:
They sound optimistic they'll pass the continuation vote although they don't disclose how many are definitely supporting it. They reiterate the 5p dividend for this year and are aware of the "very significant" discount to NAV.
The Board is very aware of the circumstances in which the Company finds itself. The Company is small in size and with a share price that is currently at a very significant discount to NAV, and the Board recognises the considerable challenges that these conditions present. Having now delivered on its initial investment commitments, the Board and the Investment Adviser are focused on continuing performance and on ensuring that the market understands both the important role of investing in energy efficiency to meet carbon reduction targets and the strong investment proposition being offered by the Company. The Board also remains committed to a continued, regular engagement with Shareholders. There are clearly factors outside the control of the Board which materially influence the Company's share price, but where we have the levers to improve the perception of the Company and narrow the Company's discount to NAV, we will strive to do so. |
Yes, stamp duty is due on AEET shares |
Can anyone confirm whether stamp duty is due on this one when you buy shares? |
Unfortunately I think the opportunity to sell to (or merge with) SEIT has passed. Their share price has fallen recently and they are on a discount of over 10% to NAV. So for it to benefit their shareholders they would have to buy the assets at a discount of 15-20%. This would be hard for many AEET shareholders to accept. A merger might be possible but don't bet on it. |
Do you think the continuation vote due this month could result in a wind-up decision? The share price as about 30 percent below the NAV. If they have bought good assets maybe SDCL would be interested in acquiring them. |
I wonder what the next NAV is going to be. This lot took so long to make investments it may actually work in their favour. They invested quite a lot at the tail end of last year when valuations should have been lower. |
Well if they could kindly finish I would appreciate it. My initial purchase at 100p isn't looking too clever.
Oooh look. The bid just moved up from 67.5p to 68p. I'm calling the bottom. Calling the bottom for about the 50th time just like I called the bottom at 100p. |
hmm. How many has the seller got? or how many does he want to let go? |
Update. It looks like they are close to fully deployed. |
Thanks for the info orinocor.
Agree with your concerns about the quality of their investments, looks like complacency followed by panic followed by regret.
But you haven't asked the most important question:
What happens to their delicious pork pies?!
I can live in a world without AEET but not a world without Vale Of Mowbray pork pies. |
The CHP project being developed by Ega Energy for Vale of Mowbray Limited, referred to in the Half Yearly Financial Report for the six months ended 30 June 2022, is on hold due to this company having entered into administration. The amount of £0.9m has been invested in the project with the majority of the capital applied to acquire the CHP equipment, which is not yet onsite. Ega Energy is identifying other clients who may use the equipment if the Vale of Mowbray site is not acquired by a business with a sufficiently strong credit rating. The Investment Adviser believes that its contractual arrangements with Ega Energy protect the value of the investment made to date and so no impairment has been made at this point.
I'm not impressed with this especially given the glacial pace of investments. It makes you question the rest of the portfolio. |
#157
I have about 60% of my holding inside an ISA or SIPP.
Should the share price be kind enough to rise substantially at least I'll have a tax problem to try and resolve which is better than where I am now.
I'm not happy about the dividend, CGT changes and fiscal drag but there's not much I can do about it except keep ISA'ing away my cash and topping up my SIPP. |
I've just added a second purchase which brings my average to 71.22p (including all costs).
With 5p dividend promised for next year that gives a yield of 7% and a discount of c.25%.
Happy to wait and see what happens.....could be wound up or as suggested it could gear up but management would have to prove they know what they are doing before cash can be raised. |
I really need AEET to start moving up! I (unwisely) bought a lot of this outside my ISA and assumed (also unwisely) that when the dividends started the share price would move up and I could sell some at a profit. Next year the dividend tax allowance drops to £1000 and the year after £500. By then I need all my AEET (and a few other shares) sold and (maybe) bought back in my ISA. I make it a rule never to do anything that wakes up the tax man! |
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