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AEET Aquila Energy Efficiency Trust Plc

0.00 (0.0%)
Last Updated: 08:00:04
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aquila Energy Efficiency Trust Plc LSE:AEET London Ordinary Share GB00BN6JYS78 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 57.00 0.00 08:00:04
Bid Price Offer Price High Price Low Price Open Price
55.50 58.50 57.00 56.75 56.75
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 2.67M 137k 0.0014 464.29 65M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 57.00 GBX

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Aquila Energy Efficiency (AEET) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-11-30 16:00:2355.9555,00030,772.56O
2023-11-30 10:47:1555.955,1962,907.17O

Aquila Energy Efficiency (AEET) Top Chat Posts

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Posted at 01/12/2023 08:20 by Aquila Energy Efficiency Daily Update
Aquila Energy Efficiency Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker AEET. The last closing price for Aquila Energy Efficiency was 57p.
Aquila Energy Efficiency currently has 100,000,000 shares in issue. The market capitalisation of Aquila Energy Efficiency is £65,000,000.
Aquila Energy Efficiency has a price to earnings ratio (PE ratio) of 464.29.
This morning AEET shares opened at 56.75p
Posted at 25/10/2023 10:06 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 07:26 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 14/9/2023 11:51 by hugepants
Fraz, They hid away some important info in the Notice of AGM Statement which was only available on their website;

...The Board has determined that the Company should be re-organised and put into Managed Run-Off whereby assets will be realised at the best value which the Directors consider can be achieved within a reasonable timeframe. Given the Company’s current cash levels, size of the Unfunded Commitments set out above, and the expected natural run-off of the Company’s investments, the Board expects to be in a position to start to return capital to Shareholders in the fourth quarter of 2023. However, under the Managed Run-Off, the Company will continue, with its advisers, to consider other strategic solutions in respect of the Company’s assets which have the potential to offer greater shareholder value sooner than under a run-off of the investments. The Board will also consider any proposals which address the Company’s size and liquidity which would need to be assessed against the potential value which can be achieved for Shareholders via a Managed Run-Off.

There should be news of some sort in the next 2 weeks even if its only the interim results and a dividend announcement.
Posted at 17/8/2023 12:38 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.
Posted at 17/8/2023 10:54 by cc2014
My interpretation of the last couple of RNS's is that finally the tide has turned. Over the couple of weeks FTSE has fallen around 5% yet AEET has managed to turn up.

We no longer have a seller dumping large quantites below the bid. Indeed that seller went away over a month ago now. It's difficult to presume anything but my guess is the the share price is now in free flow and is much more likely to go up than ever it was before.

Time will tell but there does seem to be a trickle of (retail) buyers fighting a much smaller trickle of distressed or fed up (retail) sellers.

The market test will be interesting. As far as I can see the Board/fund manager has set it up to give it more than half an chance by increasing the weighted avearge discount rate to 8.2% in the June half year accounts. That's higher than the rest of the sector which would give any bidder a bit of room to make an offer close enough to NAV to be tempting to enough shareholders.
Posted at 16/6/2023 11:53 by cc2014
There we a go. A late trade of 70k at 64p.

Presumably someone didn't like the result of the AGM although I don't know why as was clear the vote was always going to be successful.

I've come to recognise that the Board is going to do nothing to support the share price.

I look forward to my first return of capital around November.
Posted at 15/6/2023 10:28 by cc2014
Maybe since the sister fund AERI/AERS passed it's continuation vote yesterday it could scoop this up for NAV less 10%? Or maybe start picking off some of the better investments?

We shall see. It doesn't seem likley but I can hope/pray. At least the fund manager now knows what the remit is and can get on and start selling stuff.

It's clearly going to take a positive RNS to shift the share price here. I expect we'll get some comment in about a month with the dividend announcement.
Posted at 22/2/2023 14:14 by cc2014
My view is that the stock market is a curious place and the attitude to a stock can turn almost on a sixpence. I hope that is one of those occasions and AEET will be much higher sooner.

It's been available to buy at around 70p since the beginning of November and then in late January and early February prices under 70p were available with 68p briefly about the best you could buy at.

During those 3 months there was plenty of stock around and it felt like the MM's always had plenty. Certainly 90% of the time they did.

Somewhere about a week ago things changed and now the MM's have no stock at all. Since the last trade at 68p (which was mine) there's been almost nothing available to buy, not even 1000 shares most of the time. If you want to sell they are now offering 72p for reasonable size.

I suspect it's nothing more complicated than the seller has cleared.

Perhaps what tippped it more than anything is the publication of all the loans and the quality of the security. As someone else said it's much higher than they thought and I agree. It's completely transparent which always helps.

I have voted for the continuation and would encourage others to do the same. Voting is now available on both AJ Bell and HL. I'm happy to hold, collect the dividend and let the share price run up. The alternative is waiting for the Board to make a recommendation and then another vote. By then I suspect the share price will have run up anyway.
Posted at 13/2/2023 10:05 by hugepants

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.
Posted at 15/9/2022 09:29 by cc2014
Regrettably the floundering share price shows what happens once investors lose confidence. It's going to take a long time to shake that off, although I suspect once the dividend reaches 5p and it's 100% invested all will be forgiven.

SEIT is a large fund, around £1.25bn, fully invested and has delivered what it set out to do. The liquidity is good and it deserves it's premium share price.

TENT is a bit all over the place and I believe is suffering by having too many eggs in one basket with about 30% of it's revenues from one company, the largest tomato supplier in the UK. Obviously that's a challenging business to be in right now with shortages of labour and very high heating costs. It's market cap is small at around £100m, but has some interesting investments including Hydro and in deployment battery storage. I own a few. I paid 96p. The discount seems a bit harsh to me.

The investments in AEET look better than TENT to me. Certainly less credit risk and more diversified.

I would hope that by March 23 the discount here is down to 10% and I would expect it to continue to close slowly after that to less than 5%. The difficulty is that AEET really needs to get to a premia so it can issue more shares and I don't see how that's going to happen. Sure I can see it taking on some debt and getting the invested assets up to £125m but it's hard to see it getting anywhere near the AUM required for FTSE250 entry.

The immediate question is whether Invesco, the largest shareholder will stop selling out now they will get and income stream through dividends or whether they have lost the plot with the Board and just want out regardless.
Aquila Energy Efficiency share price data is direct from the London Stock Exchange

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