Share Name Share Symbol Market Type Share ISIN Share Description
Gore Street Energy Storage Fund Plc LSE:GSF London Ordinary Share GB00BG0P0V73 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  2.00 1.91% 106.50 673,291 16:35:16
Bid Price Offer Price High Price Low Price Open Price
106.00 107.00 107.00 106.00 106.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -1.03 -3.38 153
Last Trade Time Trade Type Trade Size Trade Price Currency
17:08:41 O 10,000 106.89 GBX

Gore Street Energy Storage (GSF) Latest News (4)

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Gore Street Energy Storage Investors    Gore Street Energy Storage Takeover Rumours

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Date Time Title Posts
03/3/202108:27::: Gore Street Energy Storage Fund PLC :::74
25/12/202010:36Gore Street Energy Storage Fund1

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Gore Street Energy Storage Daily Update: Gore Street Energy Storage Fund Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker GSF. The last closing price for Gore Street Energy Storage was 104.50p.
Gore Street Energy Storage Fund Plc has a 4 week average price of 103p and a 12 week average price of 102p.
The 1 year high share price is 114p while the 1 year low share price is currently 81p.
There are currently 143,871,681 shares in issue and the average daily traded volume is 317,807 shares. The market capitalisation of Gore Street Energy Storage Fund Plc is £153,223,340.27.
jonwig: The latest NAV was 97.3p (30 Sept) and the share price is 105.5p. Hardly a discount!
mirandaj: Quote Any Suggestions?  The Gore Street Energy Storage Fund has a good spread of storage businesses in the UK and Europe.  This you should have as a longer-term investment as its price trades at a discount to the value of its assets (currently around 12  per cent) though that is not uncommon with such trusts.  It aims to provide a remarkably high dividend yield of around 7 per cent.  This is not a start-up industry but a well established lithium-ion battery technology and provides multiple income streams.  So is it risky? Yes but with already operational units and in an area of growing demand, this green is not only good but financially gratifying.
rolo7: Fste small cap entry soon when other shares get delisted because of their takeovers... Should get some buying, nice green share,fund this, northern island 100mw to come online soon doubling storage
johnbower: I don't think the share price drop is due to the dilution. In this instance the new capital structure should have been immediately incorporated into the share price from announcement? I suspect profit taking from those allocated shares.
rat attack: bbonsall I think you are right. It is effectively a rights issue so your calculations make sense. The only thing I would add is that the price is usually adjusted on the date it goes ex capital raise.
rat attack: Price manipulation. Artificially held @ 105/106 during offer period and immedidiately dropped 3% - same thing happened @ Supermarket Income. Hopefully, will pick up some in Intermediaries offer. Previously looked at these about 6 months ago in low 90s but better late than never! Should be a 10%pa total yield, good value
jonwig: They'd get no takers if they tried to raise at 106. This price was arrived at by testing what the market would absorb (ie. brokers asking around.) Many institutions will have existing holdings. They will apply for shares at 100 and in the meantime sell at 105 or so. By the time you get yours, here will be less profit for you. (That needn't happen, but it's a risk.)
ironpyrites: Hi CWA1 I too have been looking at these. I have been wanting to add an IT in the sub-sector ‘renewable energy infrastructure’ to my portfolio. Gresham House Energy Storage (GRID) have recently issued new shares. The Issue Price represented a discount of approximately 4.5% to the closing share price of 110.0 pence on 9 November 2020 and a premium of approximately 4.2% to the last reported NAV of 100.77 pence as at 30 September 2020. This offering was over subscribed: ‘The Initial Tranche has successfully raised gross proceeds of £120 million through the issue of 114,285,714 ordinary shares of 1 pence each in the capital of the Company (the "New Ordinary Shares") at an Issue Price of 105 pence per New Ordinary Share.’ There was a scaling back of applications. This bodes well for Gore. GSF and GRID offer very similar energy assets – basically lithium-ion batteries. This is a growth area and the batteries are getting cheaper. Just worth saying that Gore are not specifically wedded to the use of lithium-ion batteries for storage and state that they are ‘agnostic’ in their use and will monitor any new storage vehicles if they become viable. Gore’s assets are mainly in Ireland and UK and they have a pipeline of investment opportunities lined up (as did GRID). Gore currently has an active placing (closes 14th December). ‘The Issue Price represents a discount of approximately 7.8 % to the closing middle market share price of 108.5 pence per share on 27 November 2020 and a premium of approximately 3.6 % to the last reported NAV of 96.2 pence as at 30 June 2020.’ The share price has dropped to 106.5p today GSF and GRID offer very similar energy assets – basically lithium-ion batteries. Gore’s are mainly in Ireland and UK Looking at the renewable energy storage sector as a whole the average price premium is in double figures and is the reason I haven’t invested here as yet. I generally try to buy ITs at a discount. As the last NAV for Gore was in June you could argue that the NAV is likely to be higher and quite close to the 100p offer. The other tempting factor is that the yield is 6.6% and shares bought in the placement will attract the full September (quarterly) dividend payment – paid in December. ‘investors in the Initial Issue will be entitled to receive the next quarterly dividend for the period to 30 September 2020, which is expected to be declared around mid-December 2020’ Knock this 1.5p off the issue price and in effect you will be buying the shares close to par. Some might be put off by one of the directors Daniel Mudd being a former CEO and president of Fannie Mae when this big US mortgage company was involved with sub-prime lending in the 2008 crash. More recently he has been CEO of Fortress (Hedge Fund) in New York. I am still mulling this one over but if you are interested you need to register on Primary Bid hxxps:// to apply for the offer. Regards Iron
cwa1: Morning Trying to save some time in re-inventing the wheel here! I haven't started my research on this one yet and wondered if I could start by canvasing opinion here... Any strong opinions as to whether it is worth taking up a few of these at the offer price of 100p? Are any/all of you planning to do so here? Is the 7% yield credible/sustainable? Cheers for any thoughts
timspottiswood: GSF announced a 2% increase in NAV this morning along with a 2p dividend (ex-div 20th December). In light of this plus the recent price rise and subsequent pullback I topped up at 97.3p.
Gore Street Energy Storage share price data is direct from the London Stock Exchange
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