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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sqn Asset Finance Income Fund Limited | SQN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 25.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.50 | 25.50 |
| Top Posts |
|---|
Posted at 21/7/2020 13:48 by spectoacc Nothing new, tho comes to the conclusion the Ords should have voted for wind-up, the C's for continuation, which surely misses the longer duration in the Ords. Firesale of the Suniva claim, anyone? |
Posted at 31/3/2020 15:51 by steve36 Could anyone with a better grasp of maths/economics than me explain how the midpoint of the FV range is lower then the low end of the FV Range?The Board has now received the KPMG report. KPMG provided a range of valuations of the AD Plants prepared on a Fair Value basis of between GBP64.76m and GBP73.26m ("the FV Range") as at 31(st) December 2019. This range is derived from a discounted cash flow model using expert input as well as observed market transactions. The valuations are reflective of the operational capability and contractual positions of the AD Plants as at 31(st) December 2019, taking account of prudent estimates of cash flow upside where KPMG believe that a willing investor would likely attribute value as part of a competitive acquisition process. A detailed paper and va(D) luation model has been provided to the Company for each AD Plant. KPMG has further stated that should a point value be required, as it is for the calculation of the NAV and for the production of the Company's Interim Financial Statements to 31(st) December 2019, the mid-point of the FV Range could be considered appropriate ("the FV Mid-Point"). The Board has determined to use the FV Mid-Point and, accordingly, the Fair Value of the Company's investment in AD Plants is GBP55.33m, resulting in additional expected credit losses on the related credit investments of GBP73.71m, equivalent to 20.71p per Ordinary Share or 22.20% of the Ordinary Share NAV. This has been calculated taking into account other lenders on three of the AD Plants, the outstanding debt held in the Company's books and the Company's existing IFRS9 Expected Credit Losses. |
Posted at 28/1/2020 11:34 by damp seaweed I’ve just picked up and copied the article below from Citywire, which apart from trashing my BSIF & JLEN shares has implications for Bio generation.So in summary we have feedstock prices up and wholesale electricity prices down.....a bit of a perfect storm.! ——— “nvestors in London’s expensive listed renewable energy funds are at a risk of a 43% share price fall and a 33% drop in asset values due to the slide in long-term power forecasts, JPMorgan Cazenove has warned. Strong investor demand for their reliable dividends and environmentally friendliness has pushed shares in London’s six wind and solar power investment companies to an average 16% premium above their underlying net asset values (NAV). But UK investment companies analyst Christopher Brown said the double-digit premiums of companies in the £9bn renewables sector were unsustainable in face of mounting evidence that growth in carbon-free energy would slash the cost of electricity in the next 20-30 years. While that's good news for consumers and the planet, it is bad news for funds generating most of their revenues from selling electricity into the wholesale market, said Brown and fellow analyst Adam Kelly. Using the latest figures from Bloomberg New Energy Finance, an independent forecaster owned by financial media giant Bloomberg, the analysts believed the NAVs of Bluefield Solar Income (BSIF), Foresight Solar (FSFL), Greencoat UK Wind (UKW), JLEN Environmental Assets (JLEN), NextEnergy Solar (NESF) and Renewables Infrastructure Group (TRIG) could drop by a third on average. And because of their elevated share prices – trading at premiums of between 12% and 23% - that could translate into a 43% fall in their stocks, they said.” |
Posted at 23/1/2020 12:52 by chucko1 I have read up to about page 72, but then felt sorry for the unfed goldfish upstairs. They point out that the performances of several assets have tended to be volatile, with suspended payments and the like, but so far have ended up making, or exceeding, the targeted returns. The restructuring have offered opportunities of increasing the returns, though they have been disconcerting to the investors as it all plays out.Doesn’t mean that will continue, and especially as they have such a concentration in the AD assets. Investing in size here is a big call on management. Many seem to have voted negatively the last few days. My own jury is still out, but I like the price here and will look to repurchase the remaining 80% that I sold (maybe not all) as and when. Or buy the Cs if they fall a little further. |
Posted at 23/1/2020 09:23 by scburbs Hi SpectoAcc. Agreed. I would expect them (HWSL) to make some recovery, albeit a 100% provision and a statement about further costs to recovery should mean there is some risk.Certainly the risk to SQN until they are sorted (ideally exited) is much higher than 13p as a provision at that level would only be for a c. 1/3rd loss. SQN could definitely do better, but very difficult for an investor to assess properly. What you can say for sure is nearly 40% of your portfolio (ords) becoming exposed to impairments at around the same time is not good risk management/diversifi The ord share pool is large so no excuses for the concentration risk they created there. Rush to invest the original fundraising (so they can raise more and increase fees) without proper management? The C share pool appears to have been invested in a more measured way. However, I think investors would have been expecting an experienced manager not one needing to learn on the job or thinking they can worry about diversification once they have raised another few hundred million! |
Posted at 23/1/2020 00:15 by andyj Let us have a look at the scenarios and potential outcomes.1. The AD situation is less serious than feared. Very positive.2. The AD situation removes 13p or more from NAV. The share price declines, stagnates and the continuation vote is lost. The share price moves closer to NAV. Positive. 3. Driven by the need for income, funds back the continuation, buy more and the share price recovers. They win the continuation vote. Very positive. 4. The share price continues to collapse as investors rush for the exit yet they win the continuation vote. Negative. But close to impossible.Thus the continuation vote acts as a safety net in every scenario except a continued decline in NAV. But there is a significant gap to close now. I see an opportunity. |
Posted at 10/3/2019 15:40 by horndean eagle They took cash on the C shares and told investors they would be fully invested within x months. Then carried on lying about when they would be deployed. They should have handed it back rather than peddle the bs they did. They have made no efforts to support the C shares. They could have brought back stock when it was trading at a big discount. Instead they wanted to keep what they could to rack up fees. Wish I had been cuter and dumped the position on the Baron ramp. |
Posted at 23/3/2018 14:50 by scburbs Good update. Cash return on C shares at NAV certainly very a welcome profit in a short period. I assume a lot of investors have been asking for their money back given the slow deployment and rating of the shares.Share buy back also interesting for ordinary shares if they don’t fully rerate and have surplus cash. |
Posted at 02/10/2016 11:51 by killing_time Just been going through the latest set of accounts and come up with this bit of news." In light of the Group's consistent performance and healthy pipeline coupled with strong investor demand recently pushing the share price to an all-time high, I am pleased to say that your Board anticipates raising additional capital before the end of 2016." So it looks like we will either get a rights issue or the issuing of new shares like the C Share issue. KT. |
Posted at 21/5/2015 09:35 by wirralowl I know what they say about talking to yourself....lol, but I like to use this thread as a quick ref to dividend progression.Dividend payment for next month up to 0.48p, pro-rata that's 5.76p, so edging slowly towards their initial target of 7.25p pa. Also news of a placing to raise up to £30m for more investment opportunities at not less than 103.5p, or a 5% premium to NAV. Shame its not an open offer so retail investors could get involved, but if we get a share price drift down towards the placing price, I will happily take the opportunity to top up. |
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