It is a concern to me , the value placed on a private business for new equity issue should be the basis of valuing existing holdings...so quite important to the funds asset value as it goes, especially when it represents 18% of assets. |
I don't think that's a concern, it's private information but it must be good news. |
Indeed any funding in this field is positive just now.One presumes that the euro5m investment supports the valuation that HGEN has the holding in the books at...or is it higher or lower? that rather important detail when worries remain around portfolio valuation levels does not seem to be divulged. |
More good news to push up the price.
They need SABA to get involved to close the massive discount. |
Thanks..i do subscribe for the Oak Blokes articles ...and very good i think they are. Have known Ceres for many years though not currently holding...hydrogen sector not really attracting the support it once had! |
Off topic but Kooba following your previous reference to the Oak Bloak's research on HGEN, he has done a similar review on Ceres CWR which if you are interested in the future of Hydrogen as part of the future energy mix is worth a look at my recent post on the CWR thread. |
I was starting to doubt myself and thought it might have been previously announced!
Let's hope the share price has finally bounced of the bottom of this downturn. |
Pity I hadn't noticed that post before. Good research. |
Nice to see the managers caught up with the new flow posted by you 2 days ago PJ84 ! |
Some more good news |
A hint of a turnaround ? |
Thanks for that - I'll keep an watch.
For interest, I hold HTWG - which is (finally) moving in the right direction. |
Well the latest drop was precipitated by Foresight (FGEN) who took a majority holding in HH2E in May and who then decided to withdraw funding in November leading to HH2E going into administration. This is the latest update So it currently looks like HH2E may emerge from administration as soon as the end of the month. It remains to be seen if HGEN will retain any stake following the administration. |
I've lost track here - any views while the rest of the sector is rumbling? |
"Private equity payouts fell 50% short in 2024
Value of investments cashed out lingers well below historic average for third consecutive year"
Unusually the article doesn't appear to be behind a paywall today.
It helps to explain why most private equity funds are currently trading at discounts but the current discount for HGEN does seem excessive. Let's hope the Cordiant Capital team can help to turn things around. |
Average discount in 2024 55% vs current discount 75%
Those that understand deep value may see an opportunity
Potential strong recovery stock for Q1 2025 |
Unfortunately this is run by a couple of fools who are good at spending money but not investing. There is a big difference between an expert in a subject and a good investor. I had hoped they would get the boot but typical of their sort have done a deal to protect themselves. |
Hydrogen has a very significant future and HGEN is a good way in at 25% of nav |
No end in sight of this derating despite the exciting news that the manager has managed to monetise their mandate...and have enough money to keep paying themselves for the smashing job for the foreseeable. Nice. |
https://hydrogen-central.com/uk-needs-a-net-zero-strategic-roadmap-not-just-a-target-bramble-energy-ceo-on-2024-in-review-and-2025-outlook/ |
They should have a lot of expertise now on board |
Why did they say to continue to create shareholder value. So far all that's happened is a massive diminution in shareholder value. Its been catastrophic, down from 1 quid to 24p |
Perhaps save on overheads. Now the investments have been made, do they really need more than one person to look after the portfolio ?
Amazing they didn't address the huge discount. |
 Well the short notice investor call was a waste of time..i asked three questions and none of them answered.A/ does the new owner of the manager have a solution to the over 70% discount to nav the company trades at ?B/ will the high fees be reduced since all the funds have been deployed?C/ has the been any change in valuation methodology since the write off of HH2E?Only cherry picked easy questions and blabbed on about now is the time to scale up investment...with what exactly. HGEN is a close end fund that is trading at a huge discount to NAV how are they going to get funds into this structure to make new investments?They cant issue paper down here as it would crush the nav per share..so we will sit and wait until they can find exits...then there is no point in reinvesting ..clearly the market values £1 invested in hydrogen assets at less than 30p right now ...so the best use of excess funds would be share buybacks or even a tender...but that shrinks AUM. So they are conflicted as they earn money from their adjudged valuation of the portfolio not from how the market values it.Shares down again after the "exciting and important" news...for who exactly?? |
Seems the investment managers are looking after themselves after what has been a dreadful share price performance. As to what benefits feed down to shareholders from this acquisition is unclear ..they have spent all the funds and are now reliant on the underlying performance and valuations of investments already made.it is now somewhat of a passive role ! Having sold an investment to pay the managers fees for a year or so it appears they are more focused on their returns rather than their shareholders. |
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