Hydrogenone Capital Growth Share Discussion Threads

[amt] 07/1/2025 13:06

A hint of a turnaround ?

[skinny] 07/1/2025 06:28

Thanks for that - I'll keep an watch.

For interest, I hold HTWG - which is (finally) moving in the right direction.

[pj84] 06/1/2025 14:24

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.

[skinny] 06/1/2025 12:21

I've lost track here - any views while the rest of the sector is rumbling?

[pj84] 30/12/2024 11:33

"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.

[golden prospect] 30/12/2024 10:11

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

[slicethepie] 26/12/2024 17:34

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.

[amt] 20/12/2024 19:25

Hydrogen has a very significant future and HGEN is a good way in at 25% of nav

[kooba] 17/12/2024 13:36

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.

[kooba] 15/12/2024 07:43

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/

[amt] 11/12/2024 17:02

They should have a lot of expertise now on board

[amt] 11/12/2024 16:56

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

[amt] 11/12/2024 16:54

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.

[kooba] 11/12/2024 11:43

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??

[kooba] 11/12/2024 07:30

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.

[livewireplus] 11/12/2024 07:22

RNS out: HydrogenOne Capital Growth PLC Investment Adviser acquisition by Cordiant

[cc2014] 04/12/2024 10:34

I suggest it reflects Gresham House optimistic valuation methodology

NESF have managed to sell 3 assets at NAV with the latest one 27% above NAV and SEIT managed to sell 1 at NAV.

So, a reflection on the fund manager.

[pj84] 03/12/2024 21:19

Not sure whether this might have something to do with today's further falls



but if it does, I would have thought the current discount already more than compensates for it and I haven't seen any further negative news affecting other HGEN holdings but there is a new interview with the chief strategy officer of Cranfield Aerospace Solutions.

[pj84] 28/11/2024 16:49

The M&A process will begin with an initial exchange of information with potential bidders, several of whom have already expressed interest following recent press coverage.

[pj84] 28/11/2024 16:38

"With Earnest & Young, HH2E plans for the M&A process to start with exchanging information with potential investment bidders, and eventually conclude with submissions of indicative offers.

A shortlist of the most competitive bids will be finalised, with the process hoped to be concluded by the end of January 2025."

It would be good if something is concluded by the end of January 25.

(I suspect Earnest is a typo or translational error and should be Ernst & Young)

[golden prospect] 25/11/2024 18:05

Written by Global Cement staff, 22 November 2024



Interest clearly to HiiROC Limited, 2nd largest investment for HGEN

[kooba] 25/11/2024 16:33

Price cant get a foothold..looks like folks have lost faith in the valuations ...might buy a few but there appears no hurry.Very disappointing. Nice that they raised enough from an asset sale to pay there management fees...perhaps management fees should be set relative to market valuation rather than the assets they say are there??

[pj84] 20/11/2024 09:46

Nice update on Sunfire



The ADVFN buys and sells have been very misleading over recent days I topped up yesterday at at 24.204 and the spread has been much narrower than indicated and currently you can sell at about 24.2 and buy around 24.7 or above so there are more buys than it appears.

[pj84] 18/11/2024 09:03

There is no significance to the change of registered office, as I have had the same notification on another completely unrelated share I hold and I am sure there will be lots of others and it looks like a company managing virtual registered office addresses has moved.

[31337 c0d3r] 16/11/2024 18:34

Worth keeping in mind that institutions don't need to declare changes to holdings once they've reported being below 5%.