Renewi Share Discussion Threads

[outsizeclothes.com] 23/7/2019 11:35

When you've gotta dump - you've gotta dump !

[eentweedrie] 22/7/2019 07:58

goodness they are dumping like mad

[dplewis1] 22/7/2019 07:08

Less than 1% and Kabouter will go under the notifiable threshold..seems like they want out totally and the quicker the better imo. Will be a huge positive once such a massive seller is gone.

[dplewis1] 16/7/2019 12:24

https://www.sharesmagazine.co.uk/news/shares/is-renewi-finally-turning-over-a-new-leaf

[george stobbart] 11/7/2019 09:36

Not going to move much to the upside imo while Kabouter and Cross Ocean are dumping in every rally. I hope I am wrong.

[salpara111] 11/7/2019 09:32

They will remain under serious pressure until they are allowed to sell soil again. I am keeping them on my watchlist until then

[dplewis1] 11/7/2019 08:26

I know it's a tiny acquisition but the mattress recycling thing is a great idea. Adds nicely to the overall green/ethical investing angle. They could do with setting that up over here - for some reason certain brits seem to think it's ok to chuck an old mattress in their front garden..

[eentweedrie] 11/7/2019 08:12

tracking nicely now

[dplewis1] 11/7/2019 07:46

Flat to slightly up today then?

[dplewis1] 11/7/2019 07:10

ATM issue sounds like it's getting closer to a resolution..

[george stobbart] 09/7/2019 11:53

Well if Kabouter (40mn shares) and Cross Ocean (34mn shares) are both looking to sell down all of their holdings, why doesn't Renewi just ask them to tender all of their shares in a pre-mkt auction (ie at 25p)?

Also since Renewi is looking to list on Amsterdam, they could auction Kabouter + Cross Ocean shares in Euro terms to get the IPO done. It should have strong support from Dutch euro investors. The bond issue was massively oversubscribed by Dutch institutions and closed in the opening day of the offering.

[outsizeclothes.com] 09/7/2019 11:37

Kabouter's exit probably will trigger the sort of 20+% bounce we are seeing in those shares where "Woodford's out" announcements are being made.
The ease, and speed, with which we got away the bond issue last week, at only a 3% gross coupon, says that the bigger market sees very, very little risk here.
But until Kabouter have finished, their over-hanging presence is going to make sure that bounce doesn't happen :-(

[dibbs] 06/7/2019 18:30

Very likely. They still hold 5% or just under 40 million shares so they might be at 37 million now! Over recent months their holding has steadily reduced. The removal of this overhang of stock can't come too soon but could still be with us a while.

Shareholders in RWI can but hope that someone picks up a lump of stock soon removing this constant drip feeding of stock into the market.

Hopefully RWI remains a good example of a company having a few issues which caused it's relegation from FTSE 250. That in turn saw massive selling by funds which has destroyed the share price beyond where it probably should be.

No my biggest holding but I'm optimistic RWI will do ok before too long.

Dibbs

[dplewis1] 05/7/2019 17:03

I wonder if that's them dumping more with that big 3 million print today

[theolonghair] 02/7/2019 11:56

Can you elaborate on what you mean by the name Kabouter? Is that a name of a shareholder?

[dplewis1] 28/6/2019 19:27

Kabouter reducing still..that explains the selling and drop at least.

[dplewis1] 24/6/2019 09:10

All very odd..back below the announcement about the divestment?!

[robsy2] 21/6/2019 17:10

Thanks for that george. A few catalysts there that should provide s bit of momentum.
R2

[george stobbart] 21/6/2019 14:38

Poor that all the gains from the Canadian announcement now disappeared. Below are the key events to expect in the next couple of months:

June / July: Reym Industrial Cleaning sale – Announcement out imminent any day / week. Mgmt says signing intended before summer break like the Canadian biz. Reym’s revenue for FY19 were EUR 129mn.

First week of July: ATM soil testing process by the regulator ends.

July / August: Regulator provides a preliminary opinion on soil tests. Mgmt is optimistic on getting a green light. Once they get the regulatory confirms, they can start shipping the already stored soil and then restart production.

9th-10th August: Terminal date for the lenders of the Derby Sinfin PFI to step in and kick out RRS JV (Renewi/Interserve). Derby’s council director says all sides prefer “consensual termination” which would avoid heavy legal costs. Compensation according to the council would be between £0 and £195mn (Check Chris Doidge, BBC Derby reporter on twitter who covers the story). Renewi has already written down to £0 their investment at Derby so any compensation is a plus.

11th September: Derby PFI contract officially breaks. Derby council can negotiate a new contract on different terms with Renewi on standalone basis without Interserve. Renewi has many chances of getting this contract as they are the current operator and have experience running this plant.

H2 2019: Listing in Amsterdam expected.

[robsy2] 18/6/2019 15:57

The price is pretty good at EV/ EBITDA 15.6, this compares favourably with OCI who bought 7 companies in the last 12 months paying 10.7, which they claim is below Private equity average of 14.1.
Good work.
R2

[dplewis1] 18/6/2019 11:25

1018 GMT- Renewi's sale of its Canadian operations is encouraging, Peel Hunt says, especially since the U.K.-listed waste-management company was able to get more for the business than the brokerage had been expecting. Renewi said it sold the operations for C$84 million, plus another C$17.5 million conditional on the buyer securing financing for the business. Peel Hunt forecasts a reduction of leverage to 2.6 times net debt to Ebitda if Renewi sells its Reym business and is able to get its ATM soil-treatment unit closer to normal profitability.