Renewi Share Discussion Threads

[gregsc] 24/7/2024 07:39

Probably this:

A major fire raged at waste processor Attero in Wilp-Achterhoek during the night from Monday to Tuesday. The cause is 'most likely' a heavy battery that should never have ended up on the waste mountain.

[wad collector] 23/7/2024 15:01

Sp is having a bit of a cold bath today ; have I missed something?

[gregsc] 11/7/2024 21:47

Let's hope you are right George.

[george stobart] 11/7/2024 14:04

Verwaayen got away with only 10% AGAINST in this 2024 AGM

Likely to his and Renewi's last one to be honest anyway

[george stobart] 04/7/2024 15:30

INVESTOR MEET COMPANY - Whoever wants to join there is an RWI Group Call planned for 08 Jul 2024, 13:30 BST

hxxps://www.investormeetcompany.com/

Doing some PR work I reckon to minimise Against votes for Verwaayen ahead of the 11th Jul AGM

[kinwah] 03/7/2024 18:14

Nice rise today to 690p.

[wad collector] 26/6/2024 15:17

Another reason not to sell, as long as the BOD don't shaft us for a big golden handshake....

[george stobart] 26/6/2024 11:01

Honestly, Renewi might not be around in 2 yrs at least as a listed entity.

One could argue it could not even make it to Dec-24.

[wad collector] 26/6/2024 10:19

Looking on the RWI website I see that the consensus EPS estimate is to rise from 63 to 97 cents over the next 2 yrs. If that prediction is to come true , and clearly there are many issues that might deflect it , then £7 is a bargain.

[george stobbart] 26/6/2024 07:22

Given ING is the largest bank in the Netherlands and given their large institutional following, RWI likely to test the 700p level again today (with buying volume coming from the Amsterdam listing)

[george stobbart] 26/6/2024 06:12

Renewi Rated New Buy at ING; PT 949.85 pence

(Bloomberg) -- ING Bank initiated coverage of Renewi Plc with a recommendation of buy.

PT set to 949.85 pence, implies a 41% increase from last price.

[george stobart] 25/6/2024 10:48

Verwaayen got 20% AGAINST last year, and here he is trying to sweeten the pill to avoid getting the boot.

Frankly, with the UK contracts overhang gone now, Renewi is clean from a cash flow perspective to sell itself and command a higher premium than the Macquarie 915p last bid (which Verwaayen & Co never made public via RNS according to The Times UK).

That sentence is indeed very odd to include in a generic AGM Invitation form.

"That said, consistent with its fiduciary duties, the Board wishes to reiterate its willingness to objectively evaluate all alternative routes to maximise value on a timely basis."

Obviously they are telling you straight away that they know what's coming.

[outsizeclothes.com] 25/6/2024 10:16

Verwaayen is probably reading this board (he's doing f* all else)and thinking "They're planning to vote me off the Gravy Train. Quick "Support the Board/me""

[kinwah] 24/6/2024 13:15

The shares are easing off now. I've just read the Notice of Meeting for the AGM. Normally these notices are as dull as ditch water but RWI's is quite interesting. There is this section "Over the past year, the Company has delivered against its strategy. The Company has reshaped its portfolio, including the recently announced disposal of its UK Municipal business, delivered strong and structural increases in profitability at Coolrec and Maltha, transformed the performance in M&W with ATM outperforming plan, and delivered increasing cash generation. The Board and Executive Team fully recognise the need to deliver improved and sustained value for all shareholders. They believe they have the strategy in place to achieve this and are encouraged by the execution momentum. That said, consistent with its fiduciary duties, the Board wishes to reiterate its willingness to objectively evaluate all alternative routes to maximise value on a timely basis." I can't recall seeing such a strong "please support us" message in a Notice of Meeting before. It also seems to be anticipating another approach over the summer. I'm holding tight and will add a few more on any weakness.

[kinwah] 21/6/2024 16:43

Not quite 2 million traded but not too far off. I let 5,000 go in the auction. I think this one was a little bit unusual because of the dual listing in Amsterdam which meant more stock was available so we didn't get a crazy spike. Anyway five minutes of fun and we still have the bid speculation to come.

[outsizeclothes.com] 21/6/2024 12:12

Who's voting against the re-election of Ben Verwaayen ?
I have.

[spypat] 20/6/2024 10:46

You maybe right.
The news of RWI inclusion into FTSE 250 may have escaped the professionals and we can just wait for their imminent buying frenzy when they soon wake up, at last.

[george stobart] 20/6/2024 09:35

Yes thanks, we know all that.

Renewi's inclusion equals to ~10days of Buying volume (ADV)

Do you have any evidence to support that the volume between 5th June to 20th June has shown any elevated buying levels to suggest index/tracker pre-buying?

Volume looks about average to me

[spypat] 20/6/2024 09:23

That would be too easy. Trackers & funds don't wait for the inclusion date to buy. If that were true, retail investors/traders would buy on the cut-off day (taking no risk as they inclusion would be certain) and then wait for the ETFs, etc. to buy higher.

AI explanation (Gemini) of what happens:

Funds and ETFs that track an index typically don't buy shares directly in response to a stock being added to the index.

Instead, they follow a process called rebalancing to align their holdings with the new index composition.

Here's a breakdown of how it works:

Index Announcement: The index provider (like S&P Dow Jones Indices or FTSE Russell) announces changes to the index composition. This includes adding new stocks, removing existing ones, or adjusting the weighting of existing holdings.

Rebalancing Period: The index fund or ETF manager has a designated window to rebalance the fund. This period can vary but usually falls within a few days (often 1-3 business days) after the announcement.

Portfolio Adjustment: During rebalancing, the fund manager buys or sells shares of underlying holdings to match the new index weightings.
For a stock being added: The fund manager allocates capital to purchase shares of the new addition, proportional to its weight in the index.
For existing holdings: If the weight of a stock increases in the index, the fund might buy additional shares. Conversely, if the weight decreases, the fund might sell some shares.

Key Points:

The exact timing of share purchases within the rebalancing window may depend on market conditions and liquidity.
Rebalancing helps maintain the fund's alignment with the target index and minimizes tracking error (the difference between the fund's performance and the index's performance).

Additional Notes:

There can be tax implications associated with rebalancing, especially for ETFs. Fund managers try to minimize these tax impacts through various strategies.
Index funds typically rebalance less frequently than ETFs, due to their structure and trading mechanisms.

[george stobart] 19/6/2024 17:43

Friday 21/6 auctions will be a massive dump of Buy orders by ETFs/Passives/Trackers

Monday 24/6 likely this one to take a breather

[kinwah] 19/6/2024 17:09

Only two days to go before the Friday auction in RWI. I wouldn't be surprised to see over 2 million shares traded. I don't mind helping the 'passive' funds stock up on a few shares in the auction at fancy prices.

[spypat] 19/6/2024 06:32

Sorry, I guess they have not updated the stockchallenge site yet.
In any case, I think any buying for a stock being included into an index happens before the date that the changes take effect (24/6/24 in this case).

[george stobbart] 18/6/2024 18:25

What are you even talking about? Renewi has made an RNS public regarding current inclusion to the index

Renewi joins the FTSE 250

hxxps://www.renewi.com/en/about-renewi/recognition/waste-journal-articles/renewi-joins-ftse-250

[spypat] 18/6/2024 18:06

The cut-off day was 5/6/24, so it's too late.
The implementation of the changes will be @close of Fri 21/6/24 and take effect @open of Mon 24/6/24:
hxxps://mondovisione.com/media-and-resources/news/ftse-uk-index-series-annual-review-june-2024/

However, RWI is predicted to be enter FTSE 250 in the next review:
hxxp://www.stockchallenge.co.uk/ftse.php