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ECWC Ecofin Wtr.Cap

460.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ecofin Wtr.Cap LSE:ECWC London Ordinary Share GB0031326431 CAP SHS 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 460.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 460.00 GBX

Ecofin Water&powr Opportunities (ECWC) Latest News

Real-Time news about Ecofin Wtr.Cap (London Stock Exchange): 0 recent articles

Ecofin Water&powr Opportunities (ECWC) Discussions and Chat

Ecofin Water&powr Opportunities Forums and Chat

Date Time Title Posts
13/11/200915:25Proposed capital increase - good news strong buy IMHO2,079
30/11/200412:35NAV Ј2.05* shares 99p!!!1
30/11/200412:28Merger mania in water world - at a 50% discount to NAV6
21/11/200421:52NAV Ј1.61 shares 75p !80
08/10/200411:06NAV over Ј1.04 shares only 52p strong buy50

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Ecofin Water&powr Opportunities (ECWC) Most Recent Trades

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Ecofin Water&powr Opportunities (ECWC) Top Chat Posts

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Posted at 13/11/2009 15:25 by praipus
Ecofin Water&powr Opportunities Net Asset Value(s)





TIDMECWO

RNS Number : 4881C
Ecofin Water & Power Opps PLC
13 November 2009

?
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| ECOFIN WATER & POWER OPPORTUNITIES PLC | | | |
+---------------------------------------------------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| It is announced that at the close of business on 11 November 2009, the un-audited Net |
| Asset Values |
+--------------------------------------------------------------------------------------------+
| per Ordinary Share and ZDP Shares of the above investment trust company | | |
| were:- | | |
+--------------------------------------------------------------------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Share Class | NAV (p) | Increase / | Absolute | | |
| | | (Decrease) | movement | | |
+ +-------------+----------------+----------------+--------+--------+
| | (inc. undistributed | % | (p) | | |
| | revenue) | | | | |
+--------------------------+--------------------------+-------------+----------------+----------------+--------+
| Ordinary Shares | 182.36 | 2.15 | 3.84 | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Ordinary Shares | 178.83 | 1.53 | 2.70 | | |
| (dilutive)* | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| ZDP Shares | 101.97 | 0.14 | 0.14 | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| *The Company's Subscription Shares and 6% Convertible Unsecured Loan Stock 2016 in issue |
| may, but |
+--------------------------------------------------------------------------------------------+
| not necessarily will, dilute the Ordinary Shares Net Asset Value. |
+--------------------------------------------------------------------------------------------+
| Where no dilution of Net Asset Value takes place the value box on this line will indicate |
| "not applicable". |
+--------------------------------------------------------------------------------------------+
| The diluted NAV assumes that the subscription shares rights have been exercised at 168p |
| (closing strike |
+--------------------------------------------------------------------------------------------+
| price up to 31 May 2010) and that the 6% Convertible Unsecured Loan Stock has been |
| converted at the |
+--------------------------------------------------------------------------------------------+
| conversion price of 172.6445p. |
+--------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Fund Values | | GBP '000 | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Total Assets (less cash | | 531,905 | | | |
| at bank) | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Cash at Bank | | 14,673 | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Total Assets | | 546,578 | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Borrowings: | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Prime Brokerage | 21,851 | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| 6% CULS 2016 | 80,000 | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| ZDP Shares | 61,179 | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | 163,030 | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Net Assets (Ordinary | | 383,548 | | | |
| Shareholders Funds) | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| Gearing (net debt/net | | 38.70% | | | |
| assets) | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| | | | | | |
+--------------------------+-------------+----------------+----------------+--------+--------+
| NB: The assets of the company include approximately GBP47.20m in bonds, and put options |
| representing |
+--------------------------------------------------------------------------------------------+
| approximately GBP6.00m on a delta adjusted basis. Adjusted for these two components, the |
| total equity |
+--------------------------------------------------------------------------------------------+
| exposure of the Company is 124.81% of net assets. |
+--------------------------+-------------+----------------+----------------+--------+--------+


+-----------------------------------+----------+
| Phoenix Administration Services Limited |
+----------------------------------------------+
| Company Secretary | |
+-----------------------------------+----------+



This information is provided by RNS
The company news service from the London Stock Exchange
END
Posted at 23/4/2009 15:10 by praipus
With the dividend having sold some ECWC and made market purchases of ECWO, it works out approximately 15% (by my very unreliable methods) better than converting too. Even with costs (charges, stamp duty and spread).

The risks being the market which we accept by default anyway or enough shareholders tendering to force an asset sale probably all a worse case scenario and making those that tender justifiably content.

By holding to convert some ECWC I think I am not trying to beat the market or predict what will happen and that gives me some comfort...though not much at the moment.
Posted at 22/4/2009 10:58 by praipus
Read recently that after the Great Crash of 1929 stock prices were 50% below their highs. In the following two years they dropped a futher 80%.

Read somewhere else utility stocks are under pressure now as investors sell defensives to buy bank and commercial property shares.

Converting as well as having sold some ECWC to make market purchases of ECWO.
Posted at 11/4/2009 16:26 by cerrito
As an ECW holder I anticipate that I will take the cash especially given the current discrepancy between the ECWO NAV of 148p and share price of 125.
The idea of a subscription share is a good one; however whether it will entice me to buy ecwo on the stock exchange so that I can participate in this will depend on any further information that may be available on the Bonus Issue Record Date on the capital structure of the company going forward.
I doubt somehow I will be enticed but am interested in any ZDP proposal that may come forward.
Posted at 08/4/2009 18:26 by ianbrewster
If my calculations are correct, then converting ECWC doesn't make much sense either.

If I convert my 1000 ECWC, I get 3138 ECWO

Selling ECWC and buying ECWO, I get 3407

Tendering ECWC and buying ECWO, I get 3591

at today's prices and 3rd April NAVs (152 & 476)

Is there a flaw in my logic ??
Posted at 06/4/2009 15:08 by glynnef
details of the capital reorganisation / conversion offer



Why would anyone convert ECW to ECWO at 148p when the current price in the market is 125p offer?

I appreciate this thread is largely for ECWC holders, for whom conversion makes more sense. I held ECW for the 8%+ divi and it has held its capital value nicely, but sold my last ECWC some time ago.

GlynneF
Posted at 25/3/2009 14:00 by glynnef
Linhur, This is as definite as I can find for the Incs - April09 - from the prospectus for the new ordinary share placement in Jan07.

The Income Shares have a fixed life to April 2009. They have the right to receive fixed, quarterly
dividends which are preferential and rank ahead of any other dividends payable on any other class
of shares in the Company. They have an entitlement to capital which increases daily at such
compound rate as will give risk to an entitlement to capital on 31 March 2009 of 100p per share. In
April 2009, holders of Income Shares will be given the opportunity either to accept a cash tender
offer for their Income Shares at a price of 100p per share or to convert their Income Shares into
Ordinary Shares on a basis which will value each Income Share at 100p and each Ordinary Share at
its Attributable NAV as at 31 March 2009.
Posted at 11/3/2009 15:17 by praipus
Share your concerns re the NAV. Also the markets reaction to IPR International Powers reporting profit above last years, soothing comments from CEO re ability to raise capital for projects and only a 3.5% drop in electricty volumes on a like for like basis. share price dropping away wildly.

Things are definitely not good. The government still messing with monetary policy when they need to get a grip of fiscal policy and slash corporation and income tax IMHO.

I wonder at what point the opposition and the people of the country can insist on a vote of no confidence.
Posted at 03/7/2008 15:20 by glynnef
As the end of life of ECW and ECWC is now less than 9 months away, and there is a conversion option for ECWC due this month, these events have to start having an impact on share prices.

ECWC trades today at about 20% discount to reported NAV, but ECWO trades at only 15% discount. So a conversion offer this month should narrow the difference between these discounts. As far as I can see, the attributable NAV for ECWC on conversion is virtually the same now as the frequently reported NAV.

More interestingly, in April 09 the company is to offer to buy back ECWC shares at 97.5% of attributable NAV - a much higher price than the current share price. At current valuations, if all the ECWC holders want a cash repayment in April 09, the company would have to find about £178M to repay them as well as the ECW holders. Where would they get it ?

But all in all, ECWC looks cheap to me.

I hold ECWC and ECW.

regards,
G.
Posted at 03/1/2008 09:54 by linhur
Although Ecofin say that the Airtricity shareholding has been revalued, there has been no indication of the revised figure.I would have thought there should have been a bigger increase in the NAV. The jump in the ECWC share price yesterday has presumably reflected the increase.

regards
Linhur
Ecofin Water&powr Opportunities share price data is direct from the London Stock Exchange

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