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
  0.00 0.0% 120.80 583,174 16:29:51
Bid Price Offer Price High Price Low Price Open Price
120.40 120.80 121.40 120.40 121.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.23 -1.61 16.06 7.5 582
Last Trade Time Trade Type Trade Size Trade Price Currency
16:51:44 O 3,078 120.848 GBX

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Date Time Title Posts
26/6/202209:49::: Gore Street Energy Storage Fund PLC :::519
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 120.80p.
Gore Street Energy Storage Fund Plc has a 4 week average price of 119.80p and a 12 week average price of 111.80p.
The 1 year high share price is 123p while the 1 year low share price is currently 108p.
There are currently 481,399,478 shares in issue and the average daily traded volume is 1,832,923 shares. The market capitalisation of Gore Street Energy Storage Fund Plc is £581,530,569.42.
cocopah: I guess that whether or not the share price diverges by 5p matters depends upon your investment amount and personal circumstances. It is easy to get into a capital loss/dividend obsession with these types of investments. At the moment the garden looks fairly rosy but of course the dynamics can change quickly - energy trading looks to be the saving grace if/when the price paid for grid smoothing falls. IMHO eventually longer term storage will be required. I think last year’s net income was around £14 million … although this year that should be considerably higher. However with 481m shares in issue the divi cover won’t be much. 🤷‍a94;️ A bit like GRID the name of the game at the moment is scaling-up and investor demand (especially from institutions to maximise their ESG credentials) is likely to remain high.
cocopah: #mylands … the share price has been driven up by private investors (IMHO judged on the volumes bought per trade) from £1.13 to £1.23 from the middle of April (probably on the back of the announcement of the potentially higher dividend i.e. when the annual NAV is over £1.07. At best the recent estimate is £1.05 but it would have to be considerably higher in order for the “yearly average” to be £1.07). Methinks people have jumped the gun on this. It is true that the company have announced better than expected performance y-t-d but any increase based on that would be a departure from what has been communicated in the dividend RNS. I would like to add more but if the actual current NAV is (say generously) £1.08, then GSF is now trading at a premium of 14% on the bell this evening. Generous methinks.🤔
bountyhunter: and the share price? :)
toffeeman: Because they are 'O' trades which can be reported long after the deal is made. The only reliable trade data comes from 'AT' trades which are real time this stock does not have them. Look at AZN and you will see what I mean. with 'O' traded companies - if the share price goes up it's more buys than sells and VV
marktime1231: Actually no william, GRID have said their NAV will be up to 140-145p by June 2022, it is just taking time to embed the revaluations. So actually not much of a premium there even after today's share price jump to 147p, may be another leg up tomorrow. GSF NAV progress is not as spectacular but should continue to grow aswell.
melody9999: Yes good point Toffeeman Just checked on AJBell and here are the conditions they state: Minimum investment of £1,000, £100’s thereafter The offer price is 110p per share Applications no later than 12am on Monday 11 April 2022 You can only apply for the shares online Your application must be made as an investment of an amount of cash rather than an amount of shares Please note that this offer may close early without prior notice. 1 so you could deposit cash using your 22/23 ISA allowance next week and then apply for GSF through AJBell (or other participating brokers) before the 11th April 2 you can also apply to buy GSF directly into a SIPP No need for Primarybid in these cases
melody9999: Octavia 349 - if I understand your question correctly, you would need to open up a new trading account with any platform, and then provide your platform name / account number to Primarybid as the place where they would deposit your shares. I guess you should check that the platform accepts shares from Primarybid. I don't think you can buy Primarybid and nominate a SIPP or ISA to deposit the shares. If you could, I am sure Primarybid would be 'shouting from the rooftops' about this enhanced capability. Your broker wil need to sell / buy to effectively transfer the shares Fordtin - you would need to use cash to buy the GSF shares via Primarybid, then get your broker to sell, withdraw the cash, deposit the cash in your ISA, and then buy back GSF. You'd probably be better dumping the new money in your ISA at the start of the new tax year, and then buying GSF in the market directly into your ISA before or after the placing is admitted.....whenever the price falls close to the 110p placing price. .
cocopah: I can see somewhere between 1.05 and 1.07 if it’s a slight premium to NAV and given the dilution it will be. Primary Bid is a non-starter for me, it will be easy to pick shares up at the same price on/around placing day. Just in case there isn’t sufficient interest GSF have covered their backs with the additional potential C share issue. On the plus side there will be no end of demand for this kind of battery storage and a larger market cap will help the share price and trading liquidity. I’m not going to do it (as an LTH in at 1:03) but I do think there is a chance to trade now and make possibly 10p per share. A good choice for an ISA top-up methinks and the next set of financials should make for a good read!
rogerramjett: IRR calculation will consider inflation but not perhaps the extent we are seeing in respect of the current energy price rises from which there will be some benefit to revenue on operating assets. Those which have an amount of flexibility in the sale price of electricity. Why do some IT's trade at a premium to NAV (like GSF) and some trade at a negative? Is this to do with confidence ? Or are there some other factors? Notice GSF dividend policy is 7% of NAV not 7% of share price With a minimum expectation of 7p.
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
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