Gcp Infrastructure Inves... Share Discussion Threads

[stewart64] 16/11/2017 08:35

I was amazed when I checked back and saw that this stock has crashed nearly 10% on the year. Just a few points, interest rate rises have been slower than would have been predicted 12 months ago and now the MPC is wimping out going further.

Jeeze do Market makers actually save in cash...my Britannia fixed rate bond post rate rise is up for renewal on 1 December...a cut from 1.6% to 0.75%. That's one wanging its way to my Hargreaves account. May be not GCP, this is clearly one the Market hates. Having ten grand in it is enough for now.

[skinny] 15/11/2017 11:18

An updated (September)

[speedsgh] 15/11/2017 10:37

Conditional investment commitment of c. £52 million -

The Board of GCP Infra, which is the only UK listed fund focused primarily on investments in UK infrastructure debt, is pleased to announce that the Company has entered into a conditional, binding commitment to subscribe for a series of loan notes (the "Loan Notes") with a value of c. £52 million, the proceeds of which shall be used to finance investments in five operational onshore wind farms located across the UK (the "Projects").

Each of the Projects is in receipt of renewable obligation certificates, a government-sponsored mechanism for promoting renewable electricity generation in the UK.

The Company's conditional investment is subject to the receipt of third party consents to the proposed transaction.

The subscription for the Loan Notes, if issued, will be funded by the Company from its available resources at the relevant time. The Loan Notes, if issued, will be issued by an intermediary company set up for these purposes.

[mad foetus] 28/7/2017 14:03

Because it is a Jersey company no stamp duty would have been payable.

[dendria] 28/7/2017 11:51

Thanks speed - it was on mine - I'll query it.

[speedsgh] 28/7/2017 10:46

dendria - Stamp duty was not charged on my recent purchase.

[dendria] 28/7/2017 09:20

Do we have stamp duty on GCP if it's a closed-end fund? I think the stamp changed but not sure on current exemptions (other than AIM).

[bothdavis] 14/7/2017 16:28

Straight From a Reliable Source - The Times, Business Markets Section.

For investors seeking an even more reliable investment, there is GCP Infrastructure Investments.
This provides debt to projrcts that have the support of the public sector. This means that in the wildly unlikely event that a project gets into trouble GCP ranks ahead of equity owners in getting their money back.
The debt that GCP Infrastructure holds in PPP or PFI projects, clean energy & increasingly in social housing returns 8.7 per cent. Out of this, the fund pays dividends that, at present price, provide a 6 per cent yield.
Investors are asked each year to approve a programme of placings that will fund future investment, £260 million or so in the current year. This is efficient because shares can be issued as the money is needed, rather than in one go, which produces 'cash drag' - poor returns from keeping it in the bank.
Yesterday the first £50 million was issued from the present programme.
The shares at £126p, have kept pace with those other infrastructure funds. For the ultra-cautious investors, GCP is as good as it gets.

[warrior boy] 10/7/2017 08:06

I see that the Board are doing a placing again. This time a 3p discount for their city chums and they have to settle by the 18th July so that they can qualify for another 1.9p subsidy (sorry, ex-dividend date).Pigs & trough come to mind.

[speedsgh] 01/6/2017 14:32

Whilst it has pulled back a bit in the last few weeks, GCP is still trading at just under 14% premium to NAV...

Ian Cowie: the infrastructure party is getting out of hand -

[dendria] 01/6/2017 11:39

Ah yes I see tomorrow's placing is associated with the scrip. It's on my watch list but I'm not following it closely enough! Looks a solid 6% DY but I'm not sure how much is 'floating rate' - they do state the fund 'offers partial inflation protection'.

[warrior boy] 01/6/2017 10:22

Hi Dendria,Thanks for the reply.The 480,000 shares you refer to are the Scrip Dividend shares. So, rather than paying out the divvy in cash, some shareholders elect to take physical shares in lieu of the cash. This happens every quarter and doesn't (and shouldn't) have any dilutive effect on the share price At the present share price of 125.3p the divvy is just over 6%.Might have to wait a few more days to see if other things are going on.WB

[dendria] 01/6/2017 10:02

They have another 480,949 shares being placed tomorrow (2 Jun 17). Placing programmes always hold back the share price Been on my watch list for some time - might be a good entry point.

[warrior boy] 01/6/2017 08:53

SP dropped by over 4p in last 10 days - any ideas why?Still not heard anything about the 215 Million shares that they could place (with institutions at a discount to NAV).Wondering if the 2 events are related?Any thoughts would be appreciated.

[davr0s] 11/2/2017 07:55

This one is new to me and was sorely tempted to buy some until I read the rns on the placing programme. It looks like they haven't raised all the funds they intend to yet and given they have form on discounting at a rate greater than the annual divi (so they will possibly/ quite likely do the same) then what's the point of PIs holding these until this programme is complete ?

[toolsmoker] 22/11/2016 18:23

Thks warrior

[warrior boy] 22/11/2016 09:39

1.9p making 7.6p for year.That's an annual divvy rate of 6.0% based on a buy price of 126.5 earlier this morning.

[toolsmoker] 21/11/2016 16:17

Warrior what divi on 25th ?

[warrior boy] 18/11/2016 19:18

I forgot to say that the 6.8% discount is more than the annual yield so it does hurt.WB

[warrior boy] 18/11/2016 19:14

Totally agree with you, I'd like to get some at a good discount too. The only silver lining is that the share price should be lower than expected when the dividend comes on 25 November. Not much of a silver lining I admit.I don't like these placings especially at such a large discount.WB

[stevestallwood] 18/11/2016 14:12

How is it right to (effectively) take money from the small investor and give it to institutional investors - without warning - via 'placings'?

[warrior boy] 24/6/2016 17:20

A very interesting few weeks has ended with the Brexit vote and the defensive quality of GCP has held up well.Long may it continue.

[wirralowl] 12/4/2016 12:03

NAV as of 31st March was 107.68, so with a price today @ c.10% premium, you might expect any placing to be around the mid-point of the two, @ c.113p. I'd expect the share price to fall a little towards this on the announcement, but recover once the placing has been completed.

[jonwig] 10/4/2016 17:34

I'm a bit out of touch with this, having sold, but - yes - they will place new shares with institutions ("the placing programme") and - no - PIs needn't apply ("disapplication of pre-emption rights").

The fact is, that it's much easier to ring round instis (most of them pension funds and wealth managers in this case) than run the expense of an open offer to all shareholders (needing a prospectus, etc.). CI companies can do this more easily I think.

The shares will be placed somewhere between the nav and the current sp, which I presume is trading at a premium.