Leaf Clean Energy Share Discussion Threads

[carcosa] 20/4/2018 08:37

Leaf won. Hence the $1 award. Read the link that andyr0503 provided. The disappointment is the Judge was not convinced the amount of money in question could have been realised.

[orinocor] 20/4/2018 07:53

So Invenergy actually won despite Leaf's insistence they were in the right.

[andyr0503] 19/4/2018 17:12

Leaf case opinion is now out.

hxxps://courts.delaware.gov/Opinions/Download.aspx?id=271680

Looks like the value will be based on the average of the three valuations as part of the put/call.

[pvb] 30/3/2018 17:48

"That argument was held on January 19, 2018. A decision is expected within 90 days of the argument."

[carcosa] 23/3/2018 07:06

"We expect a decision from the Court in April. Even if Leaf prevails at the Court of Chancery, Invenergy can appeal to the Delaware Supreme Court. Such an appeal would delay paying any award. As reported previously, we will own our share of VREC for some time. We have valued VREC and Escalona at our expectation of return. Leaf possesses the financial resources and the support of its major shareholders to pursue the litigation to its conclusion."

[manfrommoyse] 19/1/2018 14:43

I guess they do. Sinking feeling but I know if I bail it will come good!

[pvb] 18/1/2018 21:14

Still no news, yet the share price plunges. Somebody must know something...

[pvb] 04/12/2017 20:35

The share price story is clearly not optimistic.

[carcosa] 30/11/2017 05:48

jhan66; Thanks for the link. I have been checking that link daily!

Given the importance of the ruling I would not be surprised if LEAF is temporarily suspended immediately ahead of the ruling being announced.

[jhan66] 31/10/2017 07:20

Could indeed. Viewing this website, I can see a couple which took more than a month but I notice Lassiter’s last judgement took only three days.

[carcosa] 31/10/2017 04:58

Could take few days, weeks or months before a verdict is issued???. An unknown quantity...

[glawsiain] 30/10/2017 10:26

From cystal amber's october newsletter:

"Leaf Clean Energy Co. (“Leaf”)
During the quarter, the Fund completed an unsecured loan note investment in Leaf of $1 million. This facility will support the company’s ongoing litigation with Invenergy. The Delaware Court has scheduled a trial for 25-27 October 2017 to determine the amount of Leaf’s damages. The company is seeking net $122.2m in damages from Invenergy, which compares to Leaf’s market capitalisation at 30 September 2017 of £44.8m (c.$59.0m) and its latest available NAV at 30 June 2017, of $88.3m."

[glawsiain] 30/10/2017 10:24

Case should have finished last friday. I can't see any news. Anyone?

[pvb] 27/10/2017 00:27

No news yet but share price drop does not bode well.

[glawsiain] 29/9/2017 15:13

final results published.

"The Court has scheduled a trial for October 25-27, 2017, to determine the amount of Leaf's damages"

[jhan66] 29/9/2017 08:15

Leaf haven’t managed to publish results in September for the first time in a while. Presumably waiting for US court action which I think is now due in October, judging by a note in Crystal Amber’s last report.

[tiltonboy] 20/9/2017 09:17

Need it to fund the legal costs against Invenergy.

[jhan66] 20/9/2017 07:59

Don’t know what to make of this new news.
12% sounds expensive. I thought this company had few running costs. I guess we need it to pay for director incentive schemes. makes the compulsory share repurchase look like a mistaken use of spare cash.

[glawsiain] 13/9/2017 15:52

Thanks flyfisher. The link is here

[flyfisher] 13/9/2017 15:27

The hearing for damages should occur in the delaware court in the next two weeks, crystal amber remain positive in their results statement today.

'' On 30 June 2016, in a partial judgement on the case, the court ruled that
Invenergy Wind had breached the contract by not obtaining Leaf's consent to the
transaction. Pending further proceedings, the court has not yet determined the
amount of damages, which Leaf argues should be determined by applying the
target rate of return of 23 per cent, as agreed between Invenergy Wind and
Leaf. On 10 October 2016, the court rejected Invenergy Wind's argument that the
exercise of a put option voided Leaf's claim for breach of contract.

The full value of Leaf's claim against Invenergy Wind, with interest but net of
tax, is over 95 cents (72 pence) per share. This compares to Leaf's share
price at 30 June 2017 of 37.5 pence and its latest available NAV per share at
31 December 2016, of 77.65 cents (58.8 pence).

The Fund remains confident in the value underpinning the Invenergy Wind
investment and that Leaf will successfully realise it. ''

[carcosa] 17/5/2017 07:22

From the interims...

"A third appraiser has been retained jointly by Leaf and Invenergy to value Leaf's interest in Invenergy. The third appraisal is expected to be completed in April 2017. Pursuant to the Operating Agreement, when that appraisal is complete, the average of the three appraisals should determine the price for Leaf's interest in Invenergy for the purposes of the put/call process."

April has long since passed... Would have expected an RNS by now. Anyone heard anything else about this?

[pvb] 30/3/2017 11:19

Oops! Can't be too good...

[jhan66] 23/3/2017 13:17

Half year report due next week and we've had more volume in the last week than we've had all year.