I've released some on the way up, had a lot. Hoping/expecting the ITC credit & the 4p divi, but don't want to be over-exposed if it doesn't arrive. If/when the 4p's declared, that could really boost them, & silence a few doubters. |
Good lad Brucie. Im just starting to get decompression sickness - still a ways to go til I surface. Hopefully not another dunking before I reach it - Im fed up with the sea bed |
Blimey. I'm almost at breakeven.
Knew I should have loaded up the lorry back when.
;) |
The Drax bid for HEIT confirms what I've been saying here and elsewhere - BESS has more value within the electricity trading portfolios of larger power companies.
The problem for GSF is that there are far fewer companies that can extract the value across the wide geographical spread of assets. ENGIE is the only one that really comes to mind. Maybe Total Energies...
There's still upside here, though, from ITC credits and delivering a covered 7p dividend. |
 Shore Capital Research
25 March 2025
Drax cash offer for HEIT
This morning the Boards of Drax Bidco(a wholly owned subsidiary of Drax) and HEIT announced that they have reached an agreement on the terms of a recommended cash acquisition whereby Drax will acquire the entire issued share capital of HEIT at 88p per share, valuing HEIT at £199.9m.This represents a 5% premium to the possible cash offer from Foresight announced last week and more importantly, marks the second cash offer just shy of NAV from a reputable buyer for HEIT’s portfolio. Despite these material developments for the sector, GSF continues to trade at a 44%discountto NAV and a significant discount to HEIT’s offer price announced today. On an EV basis, today’s offer values HEIT at £834kEV/MW / £417kEV/ MWh, well ahead of the £444kEV/MW / £360kEV/MWh implied by GSF’s share price.
Read across for GSF: We have updated our valuation table below based on the latest share price for GSF, which highlights the large disconnect versus the two cash offers (one being a possible offer)received for HEIT. As a reminder, this applies conservative assumptions, with no value attributed to (i) GSF’s pre-construction projects (GSF has a pre-construction pipeline of 494.8MW) or (ii) the planned retrofit of three GB assets now augmentation costs have fallen substantially (adding 185MWh). We have also applied a blanket approach across all grids, despite some expected variation. |
Interesting Achilles action at SHED. Achilles as a thinking SaBa went after them for paying consultancy fees to related organisations to the management company.Maybe they would like to help GSF understand the error of their ways. Still I am in profit at last so thinking of averaging up a bit |
why's not hitting 80p already as you promised
i want my money, where is my money |
Not looking forward to a series of crystallized losses if a load of REIT’s get sold.
Not any better if you bought at a bargain price for high income % and then all that future income disappears.
Unless for some bizarre reason you’re trading income stocks for a gamble on takeovers. |
Very interesting that mainstream energy companies are now viewing the space. |
88p HEIT from Drax of all people - GSF looks severely undervalued (but I would say that). |
craigso I'm the brains in here to help you make big money
send your debit card details and me and my uncle we'll ensure you'll get +1,000% return from GSF
we never promise, we only guarantee |
Obviously ADVFN shows "buy" or "sell" based on whether the price falls higher or lower than the mid-point between published bid and offer.
I have no real insight into market-making, and why it's working that way on these less-liquid ITs. I have learned, however, to avoid limit orders with my broker. |
Interesting to see the total switch on GSF - from so long of most buys showing as sells, now most sells show as buys.
Or in other words - from not wanting stock, to being very keen on it. Currently 55.446p to sell on a 55.2/55.5p spread. |
Waste of time factsheets out again.🙄 |
Yes forget charts; the best bull indicator is a rise on ex-div day.
I guess we’ll see. |
On a brighter note though its not often you end up with a higher share price at 4.30 than 8.0 on ex div day |
So long as Trump/Musk doesn't decide to impound the cash The analysis of the political risk around this didn't factor in having a dictator as POTUS with a ketamine fueled side kick |
ITC credits/4p final will make all the difference to GSF. But not a bad XD day today :) |
Interesting how GRID has jumped by more than GSF this week, more than HEIT even.
I could just as easily see a Brookfield or ENGIE go for GSF as somebody else buying GRID.
And in theory GSF has those ITC credits coming soon. |
Scruff1
You’ve been watching me ;-) |
Where on earth do these sad people come from. |
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