Renewi Share Discussion Threads

[dplewis1] 30/5/2024 08:16

5p a share divi .. nice to be back in a yield paying investment

[pugugly] 30/5/2024 08:08

Mr Market does not like it - Down 4%

[george stobbart] 30/5/2024 07:09

UK municipal business sold to Biffa at c€146mn, so all the chatter and management leaks were correct

[george stobart] 29/5/2024 10:11

Renewi very close to enter the FTSE 250 (cut off date is 4th June).

Octopus Renewables (ORIT), Mobico (MCG), Ferrexpo(FXPO) are already 100% demoted.

Motlen (GROW), Atayala (ATYM), Brunner Inv Trust (BUT) are already 100% promoted.

There is a close race with XPS, TLW, LIO, ALFA, RWI on which will get the 4th place for promotion as there is an extra space due to an upcoming delisting of another FTSE250 stock.

As it stands it is XPS ahead but RWI share price is just ~3.3% off so very close to call.

It all depends what they come out tomorrow

[gregsc] 28/5/2024 11:45

Copied from K.Wiebes on the Dutch chat.

The "modest dividend" will amount to about 7 cents, I estimate.
I don't think there are any surprises on that side either .

..."The strategic review of UK Municipal remains on track for announcement by 30 June 2024"...
That's not 30 May. That could cause a surprise or disappointment. But much
more important is of course the content of that announcement.

"On track for announcement"; That's still a long way from being "on track for divestment". And if it
comes to a divestment - if it does happen; because that is also not certain - what will that
look like financially?
10 MILLION loss in the previous six months.
I don't know whether it was on that scale in previous years and whether you can continue on that scale into the future; but I'm afraid
there lies some disappointment. Even though the possible termination of the dual listing could
mean a financial plaster on the wound.

[george stobart] 24/5/2024 16:21

If any of these things are true then the UK onerous contracts were eventually well bid.

The risk here is come 30th May and they announce nothing or "good progress" etc with no firm offer. Then they will have to find a last min buyer for the UK loss marking contracts within 30 days during a general election campaign to meet their end of June sale guidance.

Simply put if they don't announce the sale on the 30th, shares will probably tank

[george stobart] 24/5/2024 15:08

Released today - it seems that the Dutch research analysts are 'leaking' a sale price now of around 150mn EUR ahead of next week's RNS. Up from previously estimated (or leaked by the management in private roadshows with the 'Big Boys') of 100-120mn EUR.

Renewi from 50:20 with English subtitles

[george stobart] 24/5/2024 14:58

Spike in Amsterdam. Someone is loading the boat ahead of the 30th May RNS next week.

UK shares laggy as per usual, but will catch up in the auctions

[gregsc] 21/5/2024 16:33

I wouldn't be surprised if Renewi cancelled their London listing.

[george stobart] 21/5/2024 13:44

Up slightly in Amsterdam / down in London. Flat FX GBP/EUR.

London shares will catch up in the auctions. Rinse and repeat every day, business as usual

[gregsc] 20/5/2024 18:46

Someone certainly thinks they know something.
Still nowhere near £10 share price though.

[george stobart] 20/5/2024 16:47

Ye olde reminder regarding Renewi's end of end auctions.

Market (or the 'Big Boys' according to the Dutch analyst) might know something we don't

[george stobbart] 18/5/2024 13:22

They seem to have given up marketing the stock to the UK investor audience, with the upcoming sale of the UK municipal contracts.

They will probably surrender the lease of their Milton Keynes HQ to the buyer.

Regardless RWI is not that far away from entering the FTSE250 in June rebalance if they make the announcement sometime in May and price spikes

[outsizeclothes.com] 18/5/2024 13:01

Yes George. €7.40 Amsterdam = £6.35 London finish.
It's a stock that's now dictated to by the European action, rather than London demand or supply.

[george stobart] 17/5/2024 17:15

Ye olde Renewi spike in Friday auctions

[george stobart] 17/5/2024 14:26

Up a good chunk in Amsterdam and flat in London?

Probably LSE prices will play catch up in the auctions

[pdosullivan] 15/5/2024 13:23

Thanks George, that is very interesting.

[george stobart] 15/5/2024 10:38

From the Dutch chat - apparently Renewi management 'whispered' to a select group of investors two weeks ago in the Netherlands that they have managed to get a sale price
of 100-120mn EUR for the UK business.

An attendee analyst from these meetings discusses that, from 45min onwards if you add English subtitles. The same analyst had suggested that the announcement will likely come with 30th May annuals.



100-120mn EUR is nearly 100% premium to its last reported NAV of the UK PPP assets and might explain price movement recently.

[george stobbart] 10/5/2024 17:17

Merger Mondays?

[george stobart] 25/4/2024 16:46

Dodgy trading ahead of the 29th Apr date for becoming eligible for a go-shop period for a new takeover bid?

Possibly the Aussies again or a Dutch pension scheme?

The RNS didn't have any information we weren't really aware of.

[sausage7] 25/4/2024 08:57

Steady as she goes looking at the update this morning. I like the way they drop a one liner at the end about the small divi. Is there enough there to entice new investors?

[george stobart] 19/4/2024 10:25

As per the Dutch chat, local broker Degroof Petercam says: "Renewi will release its annual figures on May 30. The company may use this moment to also announce the sale"

Not sure where they are getting this chatter but next week on the 25th Apr there is a Pre-Close Trading Update RNS planned, so we might get a hint

[gregsc] 17/4/2024 17:01

GLG partners are continuing to increase their short, now 2%.

[sausage7] 12/4/2024 23:08

Thank you for the note George. Sounds like a large anti-climax and a return to a moribund share price.

[george stobbart] 12/4/2024 18:51

A newly appointed IR lady did an intro to Renewi and was probably a rehash of the capital markets day presentation that is on the website. She looked much more capable and aggressive in her PR promo of the RWI moat compared to the previous IR guy that got sacked.

She dodged answering critical questions on the timing of the UK municipal sale and the M&A saga.