British Energy Share Discussion Threads

[bgyered] 09/3/2005 20:41

You can find it on ADVFN Quote as BGYW but I don't think it's an EPIC code. Other sites don't recognise BGYW so it may be an ADVFN special?
Prices at close today were:

Curr Bid Offer
196.29 193.5 199.0
11.25p up on the day - 6.1% rise

[owston] 09/3/2005 19:21

Anyone know what the EPIC is for the warrants - I cant find it!!

[bgyered] 09/3/2005 12:35

18% up now. 'Bout time the shorters started whingeing on again....

[a0469514] 09/3/2005 09:32

Yes, it is around $55 in Canada and it can also be traded on Nasdaq (Ticker CCJ), but this price is after a 3 for 1 share split so Cameco has already quadrupled since energyi's post 3. Pity I did not see it earlier.

Xylos

[bgyered] 08/3/2005 12:31

11% up in 2 weeks and no press comment. Could be FTSE 250 re-entry effect?

[southmifti] 04/3/2005 14:47

Anybody looked at this recently? Share price upto Can$54.75

[bgyered] 24/2/2005 23:39

Typo56 - according to the FTSE rules, any company with a current full LSE listing is eligible to be included in the 100, 250, etc index. BGY is curently capitalised at £1.42bn which would put it comfortably in the upper half of the 250 list. Next quarterly FTSE review is apparently the Wed following the first Friday in March (who dreams up these rules?), so BGY should come back into the 250 then.

The current FTSE 100 drop-out candidates look to be Bunzl, Cairn Energy and Schroders (capital £1.69bn). However, there are more than 30 companies at the top end of the 250 index ahead of BGY in the promotion stakes - eg: Travis Perkins at £2.2bn.

By my rough calculations if BGY increases in value by about 40%, it could be back in contention for the FTSE 100. Don't think I'll hold my breath though...

As always DYOR and above is IMHO.

[bgyered] 22/2/2005 22:08

British Energy figures show signs of recovery
February 22, 2005 10:26am
Utility Week


Troubled nuclear generator British Energy emerged back into the light after its government bail out and major financial restructuring with encouraging sales figures for the third quarter darkened, however, by news of another outage at its Heysham plant.

The company reported an 11.6 per cent rise in sales to £412 million for the three months to 31 December 2004, compared with the same quarter in 2003.

Its nine-month turnover was up 8.5 per cent. A 5.2TWh loss of output over the three months, largely through unplanned outages, was offset by increases in power prices. Only weeks after repairs were completed, at the end of January, a unit at Heysham developed a fault. It will remain off until March.

Almost all the company's planned output for the year to the end of March 2005 was covered by fixed-price contracts averaging £21.30/MWh, and half the following year was covered by fixed-price contracts averaging £25.20/MWh.

The generator reported a loss before tax and exceptionals of £87 million, up from £10 million in the same period the previous year. Earnings before interest, tax, depreciation and amortisation for the quarter were down 59 per cent to £13 million.

[typo56] 20/2/2005 20:14

Is BGY eligible to enter the FTSE UK indices? If so, will it enter the FTSE250 next month?

[bgyered] 16/2/2005 21:54

Kordeiv - OK you sold out & made a profit - so why are you still hanging around this board? My posts are mostly for information and I always answer questions if they're intersting & relevant to other board users. I imagine quite a lot of long-term BGY investors like me have decided to hang on for better days - after all the current shares + warrants have come a long way since the 3.9p low in 2003. So I'll continue to post what the hell I like until I can ditch BGY for good.

Then I'll have the good grace to shove off quietly.

By the way - what's "old man" got to do with anything? I'm not - but the over-50's in this country own most of its wealth and are the most active investors - don't knock 'em.

[kordeiv] 16/2/2005 04:15

BGYered, I think you are perhaps an old man with an investing axe to grind. Face it, Sir Adrian has creamed all over us and has gotten away with it. It's not your fault that your Sept\October militancy fell on stony ground and deaf ears.

Lot of people asked questions & advice to you because you put yourse;f up as a BGY rebel. You never answered. Can't really blame the outcome then can you?

Get over it man

[bgyered] 15/2/2005 22:05

Scrutineer:British Energy looks to spend its way out of trouble
February 15, 2005 5:52am
Europe Intelligence Wire


BRITISH Energy's spiralling losses show why the controversial "blink-and-we're-bankrupt" financial restructuring was inevitable if the nuclear generator was to avoid the knacker's yard.

It left the banks and bondholders with virtually all the business via a GBP 1.3 billion debt-for-equity swap. Many shareholders were, understandably, unhappy at the massive dilution of value.

But the trading figures put out by new company doctor Mike Alexander show that although investors felt the government and British Energy had held a gun to their head, there was no real alternative option to avoid liquidation.

Losses at the company in its third trading quarter to December, a little before the implementation of the restructuring, ballooned to GBP 87m compared with GBP 10m a year earlier.

Losses over the nine-month period surged to GBP 349m from GBP 81m. These are very depressing numbers, but vividly spotlight the realities the business was - and is - facing.

British Energy has been blitzed by a slump in output when unscheduled outages have closed parts of its facilities for unplanned maintenance, a sharp fall in wholesale electricity prices and bulky decommissioning costs.

The company itself has said there is no chance of dividends being resumed until March 2007 and the poor performance of British Energy's shares since relisting last month shows that the market realises the scale of the turnaround needed. They have slumped 14 per cent.

Alexander identifies poor output levels as fundamental to British Energy's difficult position. He blames this partly on the level of outages and in turn blames this on under-investment by previous management.

Average levels of investment in recent years have been about GBP 130m annually. By contrast, this financial year investment will be GBP 150m- GBP 170m and in 2005-6 it will be GBP 200m-GBP 250m.

In a way, then, British Energy is having to spend its way out of trouble. Alexander says it means average annual nuclear output at British Energy over the next three years will be about 61.8 terrawatt hours, compared with an historic low of 59.5 terrawatt hours this year.

This should help, but Alexander obviously hankers after the love that currently won't speak its name - more nuclear (ie BE) power stations allowed by the government. That issue has been kicked into the Whitehall long grass at least until after the general election.

British Energy's challenges are such that the shares are obviously not for widows and orphans, particularly due to the lack of a dividend stream for some time. No, the wobbly stock may just attract unhurried professional investors who follow Evelyn Rothschild's famous dictum that the time to buy is "when there is blood in the streets".

BE is still looking bloodied and the shares look at best an opportunistic contra-thinking punt for institutions which are prepared to wait a few years for their possible returns.

[rambutan2] 10/2/2005 14:24

nuke is certainly the easiest option for the world to counter greenhouse probs.
there are v few nuclear plays in the world.
how much of westinghouse do they own?

[hightech] 10/2/2005 08:59

The only way to protect UK from the effect of high oil prices is to expand this industry and British Energy is the best to invest in and work with.

[rambutan2] 09/2/2005 14:31

anyone got a valuation for the nuclear business?

[praipus] 09/2/2005 14:24

Ecofin's ECW/ECWC monthly update mentions that German utilities RWE and E.on have indicated an interest in buying UK power generation businesses!!!

For this reason BGY and ECWC are a stong buy IMHO.

For a copy of the monthly update take a look at the RNS (ADVFN NEWS) on the ECW epic.

[rocketsox] 04/2/2005 17:03

You can certainly trade the warrants with Barclays Stockbrokers. They can be traded like any other share. The 98p share subs is already factored into the warrant buy/sell price and the warrant midprice will typically follow the share price minus the 98p. Its only the final holder of the warrant that has to cough up the 98p subs to buy a share.

[hightech] 04/2/2005 09:33

BGYered, My broker says it's possible at a later date, but not yet. That's different from what is said in the statement.

[bgyered] 03/2/2005 23:50

mryesyes - www.tipsheets.co.uk/britishenergywarrants.html says:
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British Energy Group lists new warrants on the London Stock Exchange 17/01/05

British Energy Group plc has listed new shares and warrants on the London Stock Exchange as part of its reconstruction. The shares trade under the ticker symbol BGY, and the warrants BGYW.

The company has listed 29,298,286 warrants, each trading at 175p-180p on 17th January. This warrant issue is easily the largest coporate warrants listing on the London Stock Exchange at present. We will be providing full coverage, explanations, analysis and advice in the February issues of our Warrants Alert and Warrants Alert Professional newsletters: details.

British Energy says "warrants entitle you to subscribe for New Shares at a price of 98 pence per New Share. Shareholders may exercise the warrants and subscribe for new shares at any time in the five year period after the warrants are issued."
------------------------------------------------------------------------------
...clear enough

[mryesyes] 03/2/2005 14:11

It's not clear from the small print, to me anyway, but is it possible to exercise the warrants immediately and at any time in the next five years?

CAN SOMEBODY / ANYBODY ANSWER THIS QUESTION AS IN ALL HONESTY I DON'T THINK ANYONE KNOWS OUT THERE (normally warrants are exercisable once a year) but this looks like another ruse; they hope the few SIDS who had the savvy to get certificated atall will allow them to expire?