Foresight Solar Share Discussion Threads

[rik shaw] 16/6/2022 07:14

Dividend declaration

[gateside] 07/6/2022 07:45

Just missed out on the cut due to the rumours of a windfall tax on renewable energy knocking the price back.

So FSFL remains in the FTSE Small Cap index for now.

[petewy] 25/5/2022 20:50

Good post Catch. Better than buying ready made at a cost or not buying.

[gateside] 25/5/2022 15:30

Thanks jonwig

Good to see that JLEN are already in the FTSE250 as of last week.

Also own FSFL and Merchants Trust and it looks like both are moving up.

[jonwig] 25/5/2022 15:11

Pinched from another thread:

Alliance News) - British Gas-owner Centrica PLC and chemical firm Johnson Matthey PLC are set to return to the FTSE 100 index next month, replacing television broadcaster ITV PLC and postal operator Royal Mail PLC, according to indicative changes released by FTSE Russell on Tuesday.
All four companies have been in and out of London's blue-chip list in recent years. Centrica was demoted to the FTSE 250 two years ago in June 2020, while Johnson Matthey suffered the same fate this past December. ITV was bumped down from the FTSE 100 to the mid-cap index in September 2020 of that year only to be returned in June of last year. Royal Mail was demoted to the FTSE 250 in December of 2018 but returned in May of last year.
Meanwhile, online fashion retailer Asos PLC is indicated to join the FTSE 250, following its move to the London Main Market from AIM in February.
Also likely to be added to the FTSE 250 will be Bank of Georgia Group PLC, Foresight Solar Fund Ltd, Merchants Trust PLC, Supermarket Income REIT PLC and Target Healthcare REIT PLC.
Set to depart are Baillie Gifford US Growth Trust PLC, Oxford BioMedica PLC, PureTech Health PLC, Rank Group PLC, Trustpilot Group PLC and Tyman PLC.
The actual index changes will be based on closing prices on Tuesday next week and will be announced after the market close on Wednesday. They will come into effect on Monday, June 20.
Separate from the quarterly review, JLEN Environmental Assets Group Ltd replaced Clipper Logistics PLC in the FTSE 250 on Tuesday, after GXO Logistics Inc completed its acquisition of Clipper.
Index provider FTSE Russell is part of London Stock Exchange Group PLC.

[catch007] 25/5/2022 14:11

II information feed:

Foresight Solar Fund Ltd - Jersey-based solar-power investor - Proposes to change its investment policy. The company wants to invest up to 5% of its gross asset value in development stage assets such as solar or battery storage system opportunities that are pre-construction and may not have secured grid connection rights or planning consent. The company believes investing at an earlier stage would create access to a further pipeline of investment opportunities and provide it with an enhanced ability to secure fully consented projects. Calls annual general meeting for June 15 to approve the change.

[jonwig] 24/5/2022 16:25

Something to add to #200 - FSFL's UK portfolio is 72% of the whole capacity (Australia 16%, Spain 12%).

I'd like to think that the new Oz government will be keen to get as much solar up-and-running as possible and therefore not start heavily taxing investing companies. And anyway, Oz is pretty independent of world prices and energy is relatively cheap.

[chucko1] 24/5/2022 16:22

CC - ceteris paribus!!

[cc2014] 24/5/2022 15:28

Somewhere along the line they would have to explain that taxing renewable energy suppliers is better for CO2 emission than taxing oil and gas producers.

I think the falls are overdone today. I bought NESF, TRIG and UKW this morning and added some more UKW in the last hour hour.

We will see where we go from here but I suspect the prices will have recovered two thirds of the fall within a couple of weeks.

[topvest] 24/5/2022 15:10

Good point Jonwig.

[jonwig] 24/5/2022 10:31

Renewables are subject to FIT-CFD pricing, so any excess price margins have to be paid back.

They can't pay a windfall tax if they haven't made excessive profits. Future profits and hence asset values can increase with a higher future FIT level, but they won't be "excessive and unexpected".

Theoretical example;

[apollocreed1] 24/5/2022 09:28

This guy is the biggest socialist in the whole party. But none of the current government are conservative anymore. They are even planning to put the windfall tax on renewable companies running wind farms.
Even the Dems in the US haven't instituted a windfall tax.
They just take orders from their wives and the media:

"UK finance minister Sunak orders plan for windfall tax on electricity generators -FT"

hxxps://uk.investing.com/news/commodities-news/uk-finance-minister-sunak-orders-plan-for-windfall-tax-on-electricity-generators--ft-2654885

[bodgeman] 23/5/2022 09:46

Wonder if the aussie election result will open up new opportunities in addition to the existing Queensland & Victoria installations?

[jonwig] 17/5/2022 06:41

Yes, that sounds sensible - thanks!

[ec2] 16/5/2022 23:24

It happened once before in respect of the Feb22 div. It's good practice in order to protect shareholders taking the cash div from negative impact of new shares being issued below NAV. Obviously in this instance there would have been only a very marginal impact, but never the less may still have been something of a niggle for major shareholders.

[jonwig] 16/5/2022 18:36

First time I've come across this sort of thing!

[cwa1] 16/5/2022 17:13

Cancellation of Scrip Dividend

On 29 April 2022, the Company announced a scrip reference price of 113.72 pence per new Ordinary Share under the Company's scrip dividend alternative for the third interim dividend for the financial period ending 31 December 2021 (the "Q4 Dividend").

In light of the Company's Net Asset Value ("NAV") per ordinary share being greater than the scrip reference price, the Board has exercised its discretion to cancel the scrip dividend alternative in respect of the Q4 Dividend. Those shareholders who elected to receive the Q4 Dividend as scrip alternative will instead be paid in cash on 27 May 2022 and, should they so wish, can choose to apply the cash dividend in acquiring additional Ordinary Shares in the secondary market. The Board will continue to assess the possibility of offering scrip dividends with respect to future quarterly dividends where the scrip reference price is above NAV per ordinary share.