Nextenergy Solar Share Discussion Threads

[wallywoo] 18/4/2024 12:16

This looks like it's ready to bounce, to me. All aboard!!!

[hope1815] 17/4/2024 21:50

I have added NESF to my Portfolio reading the market updates, Investment Strategy, and expanding the market outside the UK.

When Interest rates fall out of favor stocks that are stifled by them have a good return.

Happy Investing

[marktime1231] 17/4/2024 17:11

Thank you, I was wondering what the significance was of being able to redeem them at face value from 2030.

edit - persuaded by my analysis of debt yesterday that the dividend is safe, I suspect commentators will be picking up on this and recommending an upgrade. NESF certainly does not deserve to be trading at a 33% discount, whether or not there are one or two base rate cuts on the way. If its 50% gearing threshold is threatened it will find a way of offloading an asset or two to associated parties if not on the open market. So I have added a few this afternoon at 72p, somewhat above what I was waiting for but I got spooked about missing the boat.

[speedsgh] 17/4/2024 17:03

the prefs were issued to an investment vehicle backed by three BAE Systems pension schemes as part of a subscription agreement.

Issue of Preference Shares (Oct 2018) -

Issue of Second Tranche of Preference Shares (Aug 2019) -

i cannot see that they have a ticker or are listed on a publicly tradable exchange.

[marktime1231] 17/4/2024 16:46

Thank you. Is there a ticker to monitor / trade the pref shares?

[speedsgh] 16/4/2024 16:05

great post @marktime. detailed overview of borrowings as at 30/9/23 can be found on pg33 of the Interim Report -

should only be a couple of months (mid-June) until release of Final Results to 31/3/24 which should provide more up-to-date figures on borrowings.

last year's Annual Report contains useful detail on the £200m prefs which pay a preferred dividend of 4.75% until 2036 after which they have the right to convert into new ordinary shares or a new class of unlisted B shares. the prefs are also redeemable by the company at any time after April 2030 at par plus any unpaid dividends - see pg135 at

[alter ego] 16/4/2024 13:43

thx marktime1231, very useful info

[marktime1231] 16/4/2024 13:34

So the £135M part of the RCF is renewed on identical SONIA + 1.2% terms. The £70M part with Santander looks to be going the same way, at SONIA + 1.4%. So short term debt remains afforable, and we just need the BoE to get on with cutting base rate.

Some borrowings are on longer term debt terms at much better rates and fully amortising. Rates range from fixed 2.9-4.11%, the one on lowest rate has about £35M outstanding is due for repayment or renewal by Dec 2026. Two chunks together about £50M outstanding are on RPI+% terms - eek, thank goodness inflation has tumbled.

And the £200M perps are at 4.75% I think.

Total debt remains high at about 46% gearing subject to NAV being sustained. We have a problem if it gets to 50%. Which is no doubt what has compelled the "capital recycling" programme, where there is no further progress to report.

On balance this is reassuring and I remain poised to double up my NESF holding, not far away.

[gonsan] 16/4/2024 10:26

Bought yesterday and today again. More gut feeling than anything else.

[gateside] 12/4/2024 16:19

Anything sub 80p is a bargain.Nice to buy at the bottom, but not worth stressing over it if you don't.

[catch007] 12/4/2024 15:54

Bought another tranche today at 72p - 11.58% yield with dividend cover visibility. I also took the opportunity to add to my TRIG & FSFL holdings today and happy to hold at these yields. In time interest rates will revisit the historic averages and I hope these shares and others will see a rerating.

[marktime1231] 12/4/2024 13:28

Someone shares your enthusiasm for NESF, some chunky buys late this morning up to 72.5p, looks like a serious investor has run out of patience waiting for a better price. Hope I haven't missed the boat, should have dived in when it ducked under 71p.

[spectoacc] 12/4/2024 11:56

At some point in the future, we'll look back on how things were available on yields of 7-12%, and wonder why we didn't buy more.

Not all of course - some will be swimming naked, some will go pop, some will be DGI9's or HEIT's or even HOME's - and some will be non-perpetual annuity streams (many of the renewables IMO).

But still - these prices and yields aren't going to last, they're just too good IMO.

Happy to hold NESF down here, as well as eg BBGI, CORD, ORIT, SUPR, TRIG, GSF & more.

[spoole5] 11/4/2024 18:07

ATL today. No let up

[tag57] 03/4/2024 17:19

The share price probably needs IR to start to drop or the completion of the sale of assets.
Haven’t decided whether to reinvest the divi yet.

[marktime1231] 03/4/2024 16:41

A speculative add is on my mind too, but is this the bottom yet?

[wallywoo] 30/3/2024 13:12

Interesting interview by IG with Ross Greer from Next.


I have been picking up shares down the bottom here. This looks over sold to me. Newsflow should be significant over the next few months with dividend (May) and fy results (June). Should get an update on asset sales too. All could trigger a rerate.

[janeann] 28/3/2024 19:15

as did ajbell!!

[tag57] 28/3/2024 18:00

Received mine through HL this afternoon.

[gateside] 28/3/2024 17:35

Interactive Investor paid the dividend today

[marktime1231] 28/3/2024 15:56

As you say it might be nice to reinvest the dividend but first the blighters at HL need to pay it across. If they hang on to it for the long weekend ...

Edit ... well it arrived but too late to do anything. Might be a saving grace if this opens sharply lower next week.

[janeann] 28/3/2024 15:41

No dividend from ajbell either..... theyre normally good

[alter ego] 28/3/2024 14:52

they seem slow today, on several different shares. In fact they generally seem to add the dividend late in the day.

[spoole5] 28/3/2024 14:30

No divi from HL

[yump] 24/3/2024 13:41

Capital best put under the bed then and see what its worth in a few years.