Hicl Infrastructure Share Discussion Threads

[spectoacc] 30/4/2018 07:29

"The profit on disposal, after costs, represents a premium of GBP9.7m over the Directors' valuation of GBP46.5m as at 30 September 2017. HICL expects to redeploy the proceeds into accretive investments and the Company would consider further selective disposals as a means of managing its overall funding position."

All very positive.

[spectoacc] 26/4/2018 12:18

@jonwig - true - but if Corbyn Labour gain a few more councils, the resultant total shambles should be enough to rule out a showing at the next GE :)

[jonwig] 26/4/2018 11:17

@ Spec - but the local elections (in London especially)? The result might unsettle a lot of investors.

[spectoacc] 26/4/2018 11:00

Bound to be some nervousness ahead of next GE for sure - hopefully a while to go before that, and result won't be a Corbyn/McDonnell majority.

[chucko1] 26/4/2018 10:23

Well done indeed. Like SpectoAcc, I remain invested for the long run, although I would average out starting at about 10% higher than current share price I have quite a few and the events of the last year make this riskier than I had initially thought and so see it prudent to lower the weighting a touch.

That said, the current 5.3% dividend yield does compensate meaningfully for the risk, as I currently see it.

[spectoacc] 26/4/2018 07:29

Profit's a profit, well done. More of a LTBH for me, for the divi.

[mad foetus] 25/4/2018 11:23

Sold out. Was meant to be a long term holding but had made 6%+ in a week and have given up a few quick starts recently so felt inclined to take the cash. Good luck all.

[spectoacc] 18/4/2018 15:39

@mf - long may it last ;)

[schofip] 18/4/2018 12:06

I did it first Lol

[mad foetus] 18/4/2018 11:18

Well, my timing appears to be better than yours specto! Good luck to all.

[spectoacc] 17/4/2018 17:09

Yeah I thought that about 14p higher (before the CLLN debacle & write-off) ;)

[mad foetus] 17/4/2018 15:35

I bought some today for my long term portfolio. Now at a 7% discount compared to year average 11% premium and a 6% yield makes it an attractive entry point.

[skinny] 16/4/2018 11:21

No - basically most sites use their own method of determining whether a trade is a buy or sell.

[schofip] 16/4/2018 11:09

Is there anywhere I can get an accurate figure for the trades and volumes during the day. The advfn trades page is useless I just bought 20000 and it has recorded it as a sell.

[skinny] 16/4/2018 09:08

Price / NAV

[uapatel] 16/4/2018 09:04

Yes good news and nice to see another project outside the UK.

Hopefully the share price will stabilise and recover a bit. But get the feeling we won't see a premium on the NAV for a while. Although would be happy to be wrong there.

[exel] 16/4/2018 08:51

Most welcome RNS re today underlining 'business as usual'.

[skinny] 16/4/2018 07:34

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "HICL Group"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce an investment in the Biology, Pharmacy and Chemistry Department of the Paris-Sud University PPP Project ("the Project"). The HICL Group is taking an 85% ownership interest in the Project, alongside Bouygues Energies & Services and Bouygues Bâtiment Grand Ouest.

The Project involves the design, construction, financing and maintenance of new teaching and research facilities for the Paris-Sud University, on the Saclay Plateau, near Paris.

The facilities will be built by Bouygues Bâtiment Grand Ouest and will take approximately four years to complete. The 25-year operational period commences at the scheduled construction completion date, with facilities management services and lifecycle responsibility subcontracted to Bouygues Energies & Services.

The HICL Group's total commitment to the Project is up to €21m, including a shareholder loan subscription obligation payable upon construction completion.

As a PPP, the Project fits within a core target market segment within HICL's stated acquisition strategy. This investment is accretive to the existing portfolio and was sourced through InfraRed's long-standing relationship with Bouygues Construction.



-ends-

[losos] 27/3/2018 16:16

jonwig - thanks for that link, p18 most interesting. Hope that HICL will do the same (probably certain to if you've e-mailed them ;-)) Have made a note to look out for their end of May annual report.

[jonwig] 26/3/2018 20:32

Looking just now at JLIF's annual report, the really interesting stuff is on p18: breakdowns of their facilities managers and construction partners. After Carillion, there are none of what I'd call the "red list" names - Interserve, Capita, Serco. [EDIT: there's Interserve.]

Here's the link:



HICL's FY results will be in May. I've emailed them to ask for similar information.

[exel] 26/3/2018 20:32

With prelims due end May, and y/e 31/3/18 fast looming, am guessing HICL is very near to going into a close period? so these buys are perhaps telling. In a week's time they would have been debarred, regardless of share price etc. As you say, jonwig, makes one feel a tad less troubled holding on for the annual update. ex

[jonwig] 26/3/2018 18:48

Two directors and an investment manager have boght a significant number of shares today (20,000, 20,000 and 147,321), which makes me less troubled about holding on.

[exel] 26/3/2018 10:58

HICL had TNAV of circa 149p per share at 31/3/17 (its last year end). 31/3/18 prelims are due late May'18. It remains to be seen how much 'business as usual' can outweigh its Carillion-related problems, and whether or not those will have impacted the longer term business model. I suspect lessons are being learned, and will have been learned, from this past year. The write-up will be a fascinating read and TNAV at 31/3/18 one of many indicators of interest. Today's announcement is perhaps in part intended to send a signal that the wider portfolio remains intact, performing and is being managed. Finally, big thanks to posters above for great background and context. Much appreciated. ex

[skinny] 26/3/2018 07:23

HICL Infrastructure Company Limited ("HICL"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce that it has acquired an incremental 45% interest in the Priority Schools Building Programme North East Batch Project (the "Project") from Galliford Try plc ("Galliford Try"). The consideration of approximately £9m was funded from HICL's revolving credit facility. As a result of this transaction, HICL now holds a 90% interest in the Project.

The Project is a 25-year availability-based public-private partnership ("PPP") to design, build, finance and maintain six secondary schools and six primary schools in the northeast of England. Financial close was in March 2015 and the facilities are now fully operational. The Project is part of the wider Priority Schools Building Programme, a central government initiative set up to address the schools most in need of urgent repair. Hard FM services, as well as lifecycle replacement for the buildings' fabric and certain furniture, fittings and equipment, are being provided by a subsidiary of Galliford Try.

As a PPP, the Project fits within a core target market segment within HICL's stated acquisition strategy. This investment is accretive to the existing portfolio and was sourced through InfraRed's long-standing relationship with Galliford Try.



-ends-

[jonwig] 25/3/2018 11:35

MTO currently ~155p.
Broker views and target prices in March (Barclays not added to list yet):

Liberum BUY 240p
Peel Hunt REDUCE 179p
Numis HOLD 150p

I haven't read the IC article yet, but it's probably similar to that in the link in post #682. A broken outsourcer model may well be the end of PFI as we know it, and existing projects may incur higher costs. Must HICL absorb them? Dunno.