Downing Renewables & Inf... Share Discussion Threads

[gateside] 23/6/2022 07:15

Trading of new shares due to start on Monday 27th June

[jonwig] 23/6/2022 07:10

Raised more than planned:

Further to the announcement made by the Company on 7 June 2022, the Board of Downing Renewables & Infrastructure Trust (LSE: DORE) is pleased to announce that the Company has raised gross proceeds of c.GBP52.9 million. The Company received applications in respect of 47,614,000 Ordinary Shares at a price of 111 pence per Ordinary Share , exceeding the target size of the Initial Issue.

No scaling back.

[ec2] 22/6/2022 21:37

I took an initial look at this and just could not get excited by it at the offer price level. Will view the allocation results with interest.

[gateside] 22/6/2022 14:10

Results of the fund raise due tomorrow

[gateside] 15/6/2022 17:15

I did have a problem with trying to edit my application with ii

But managed to get it sorted - have increased my application for new DORE shares

[evendimmer] 14/6/2022 23:24

I've asked for 10k but ii have mixedup the share price and the application. It may work out but it remains to be seen

[gateside] 14/6/2022 09:59

Applied for just under half of my allocation.

[gbcol] 13/6/2022 07:14

Yes I’ve applied for around half of my allocation as DORE is already one of my larger holdings.

[jonwig] 13/6/2022 07:07

Presentation 16 June at 9:30am. Register here:



Have applied for some of the offer for self and wife, though below the maximum.

[gateside] 08/6/2022 17:01

I might apply for a few - I'll monitor the price over the coming days.

No dealing charge and no Stamp Duty with the Open Offer

[gateside] 08/6/2022 17:00

Open Offer is available on ii's website now

ii require a response by 16th June

New shares issued on 27th June

[gateside] 07/6/2022 20:20

On 11th May NESF stated

The Company may look to raise capital in the near future to fund attractive growth opportunities it has identified and is pursuing.

So I might save my cash for this likely imminent fund raise with NESF instead of adding to my holding in DORE

[johnbower] 07/6/2022 18:56

With similar companies trading between small premium and small discount it's difficult to get excited about a deal at a premium....it only makes sense to get involved if the comps perform strongly ahead of pricing.

[gbcol] 07/6/2022 08:39

I’m happy enough with the fund raise at 111p. It’s not much of a discount to share price but I see that as a positive (provided they manage to get enough interest to raise the £50m). It will also help to underpin the NAV although I suspect it has already increased 2-3p min since March’s 110p.

I’ll probably take a few of my allocation, maybe all of them, but I’m quite overweight in this already. I’m very positive about the progress they are making though.

[gateside] 07/6/2022 07:49

Agree not much of a discount to current share price.
And also above current NAV.

[jonwig] 07/6/2022 07:42

Equity fundraising, initially £50m, more late in the year:



I don't think the terms are all that attractive. I might take some of the 1:3 entitlement for existying holders, but won't be piling in.

[gateside] 25/5/2022 18:29

Goes ex dividend in the morning for 1.25p

[cc2014] 25/5/2022 15:55

This one going well.

Investing in overseas generators rather than UK ones the place to be this week

[melloteam] 15/5/2022 22:21

Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:

Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)

Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50).

Just to let shareholders and prospective investors know that DOWNING LISTED INFRASTRUCTURE INCOME FUND will be among the Trusts and Funds attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams.

For more information, please visit the event webpage:

[gbcol] 11/5/2022 07:32

Yes great performance, NAV increase at higher end of my expectations, with probably more baked in due to forecast inflation increases.

Wind & hydro slightly under forecast but solar above, showing the benefit of diversification.

Expect fundraise to be sorted imminently so they can take advantage of the pipeline.

[jonwig] 11/5/2022 07:17

Update. NAV now 110.1p. Benefit from energy prices inflation.

"We are very pleased to provide a strong positive quarterly performance and significant NAV uplift, driven mainly by three accretive acquisitions completed during the period and positive movements in power price and inflation forecasts. Given the continuing increases in power prices since the quarter end, we believe that the Company will continue to benefit from the positive pricing tailwinds. As recently announced, the Company has a strong pipeline of assets and is considering the issue of new shares to raise additional capital to take advantage of this pipeline, which should enhance the diversity of DORE's portfolio."

DORE has today published its quarterly factsheet and commentary to the end of March 2022.

Also dividend 1.25p, xd 26/05, pay 30/06.

[gbcol] 05/5/2022 09:45

Yes I suspect NAV and divi announcement on 9th May will be accompanied by news of fundraising. NAV will have increased, I’d guess to 108-110p and fundraise price will be slightly above that.

I like this fund and how it is being run so I’d take part in any fundraise if available or will just continue to add in the market if not.

[jonwig] 05/5/2022 08:16

Well, they've signalled a fundraising ahead:



Also a Swedish acquisition, an "18 GWh per annum" Swedish hydro.They have an odd way of describing capacity. Why not simply "Mw". This translates into 2.1 Mw installation, costing £8.3m per Mw, which is at the top end of their costs in Sweden. But it appears to be a well-situated one.

[jonwig] 01/5/2022 20:13

I found the video interview here very interesting;



Extols the investment benefits of hydro.
Near the end, strong hint of fundraising.