ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

GV2O Gresham House Renewable Energy Vct 2 Plc

48.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gresham House Renewable Energy Vct 2 Plc LSE:GV2O London Ordinary Share GB00B43GVJ82 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 48.00 45.00 51.00 48.00 48.00 48.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Svcs Allied W/exchanges, Nec -3.84M -4.56M -0.1745 -2.75 12.54M

Gresham House Renewable EnergyVCT2 Update on Sale of Solar Assets (4813Z)

14/09/2022 2:08pm

UK Regulatory


Gresham House Renewable ... (LSE:GV2O)
Historical Stock Chart


From Mar 2022 to Mar 2024

Click Here for more Gresham House Renewable ... Charts.

TIDMGV2O

RNS Number : 4813Z

Gresham House Renewable EnergyVCT2

14 September 2022

14 September 2022

GRESHAM HOUSE RENEWABLE ENERGY VCT 2 PLC

(the "Company", the "VCT")

Update on Sale of Solar Assets

The Board is pleased to report that it is anticipated that there will be a significant rise in the Net Asset Value attributable to the shares of both Gresham House Renewable VCT 1 and Gresham House Renewable VCT 2 as a result of the recent surge in, and longer term outlook for, power prices. Higher expectations for inflation have also had a positive impact on the Net Asset Value of the assets. In addition, following remedial works the assets have performed well over the summer months leading to higher revenues than in recent years. Full details will be released in the Annual Report for the year ending September 2022.

Should high inflation be sustained for the longer term and/or the security of gas supply from Russia remain the key factor in European energy markets leading to continued high power prices, it is the Investment Adviser's view that the value of these assets will remain at a higher level and may increase further. The Investment Adviser is also aware that there could be other changes to general taxation and to the remuneration regime for renewables that could also affect value.

These favourable developments have made the task of completing a sales process challenging. The VCTs entered an exclusivity deal with a potential buyer which expired without completion on 12 September, as pricing to reflect the current market movements has not been agreed. The Board, working with the Investment Adviser, will continue to make best efforts to achieve a sale as soon as possible, whilst taking into account the overriding requirement to achieve fair value for shareholders. This will need engagement with other potential buyers. Hence it will be some time before the completion of any sale.

END

For further information, please contact:

 
 Gresham House Asset Management   Renewablevcts@greshamhouse.com 
  Investor Relations               Tel: 020 7382 0999 
 
 JTC (UK) Limited                 GreshamVCTs@jtcgroup.com 
  Company Secretary                Tel: 020 3846 9774 
 

LEI: 213800GQ3JQE2M214C75

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDLIMJTMTMBBRT

(END) Dow Jones Newswires

September 14, 2022 09:08 ET (13:08 GMT)

1 Year Gresham House Renewable ... Chart

1 Year Gresham House Renewable ... Chart

1 Month Gresham House Renewable ... Chart

1 Month Gresham House Renewable ... Chart

Your Recent History

Delayed Upgrade Clock