The Renewables Infrastru... Share Discussion Threads

[andyadvfn1] 10/3/2021 14:57

I've opted to purchase the 10% additional shares. Will have to sell a few others to raise the cash required though.

[forensic] 10/3/2021 12:46

Its sad that the people with the money don't want to invest their riches in renewables and a better world. I'll be investing.

[gateside] 05/3/2021 21:47

NREN postponed their IPO this week, due to lack of interest. The sector seems to be overcrowded. Too many new IPOs and too many fundraises, there's only so much cash that people have.Supprised at the quickness of the fall towards the IPO price here, which is a bit worrying.

[stewart64] 05/3/2021 21:29

On the first day after the November placement the price fell 5.2p from 132.4 to 127.2. 1.2p above the offer price of 126.0p.

This time the Market has trimmed 7.2p and taken the price to within 0.2p of the offer. The trajectory suggests we might go under offer price for much of the extended offer period ( last time it was a fairly short timetable) and that really isn't good for a successful ipo. Though they'll probably get there...195 million shares isn't a lot. One hopes so, because presumably they are counting on the money to pay down debt from the revolving credit facility.
The really galling point is that this short changes the November investors of the sub ipo..126p minus 1.69p divi equals 124.31p. Now we are going backwards to 123p.
As well as risking investor's ire the renewables sectors is on its knees this week. Greencoat is trading nearly 4p below its recent " discounted" ipo. GCP Infrastructure hss gone into complete meltdown and now trading at a substantial nav discount for the first time in its trading history.
Who knows, next week might prove better. But Trig really hasn't picked the best week to launch.

[carpingtris] 05/3/2021 18:42

Must admit even I'm getting a bit jarred off at constant placings and dilution.. might be tempted to move on tbh.

[peterc15] 05/3/2021 18:38

Very good point. As soon as the share price climbs they see this as an opportunity to dilute the shares. Glad I got out first thing this morning - will never touch this share again

[stewart64] 05/3/2021 16:36

I might be tempted if goes sub 123p..plenty of time between now and 23rd March. If it does go sub then this could scupper the placement entirely.

As for dilution, well it's a dilution to the share price but an enhancement to nav. If we didn't keep getting these sub ipos at a premium to nav then the nav would be somewhat lower than it is now.

[redips2] 05/3/2021 15:55

Not tempted in any way, especially when they keep diluting my holding.

[gateside] 05/3/2021 11:03

One of the good things about Offers such as this, us that there is no Stamp Duty to pay. But for TRIG there is already no Stamp Duty, so no extra savings there. I'm tempted to take part, but TRIG are already one of my largest holdings.

[stewart64] 05/3/2021 10:58

My guess is we will get a chance to buy around 123p soon anyway. All recent sub ipos have dipped under offer price eventually.

[ugandalad] 05/3/2021 10:36

Easy decision for me as I hold these in my fully invested ISA which I will top up in April. Would need to sell something so not worth bothering for this discount which has already dropped the buy price.The problem with this type of fund is it continually raises capital to expand but pays reasonable dividends.

[rik shaw] 05/3/2021 08:17

195 million new shares targetted at 123p

The Initial Issue

Under the Initial Placing, the Initial Open Offer, the Initial Offer for Subscription and the Intermediaries Offer, the Company is seeking to issue up to 195 million New Ordinary Shares at an issue price of 123 pence per New Ordinary Share. Approximately 190.3 million New Ordinary Shares are being reserved for Shareholders under the Initial Open Offer under which Shareholders will be entitled to subscribe for one New Ordinary Share for every 10 Ordinary Shares held on the Record Date. The balance of the New Ordinary Shares available under the Initial Issue (including any entitlements not taken up under the Initial Open Offer) will be allocated to the Initial Placing, the Initial Offer for Subscription, the Intermediaries Offer and/or the Excess Application Facility at the absolute discretion of the Company, in consultation with the Joint Bookrunners.

The Initial Open Offer and Excess Application Facility

Under the Initial Open Offer, up to an aggregate amount of approximately 190.3 million New Ordinary Shares will be made available to Qualifying Shareholders at the Issue Price pro rata to their holdings of Existing Ordinary Shares, on the terms and subject to the conditions of the Initial Open Offer, on the basis of:

1 New Ordinary Share for every 10 Existing Ordinary Shares held at the Record Date (being the close of business on 3 March 2021).

The balance of the New Ordinary Shares to be made available under the Initial Issue, together with any New Ordinary Shares not taken up pursuant to the Initial Open Offer, will be made available under the Excess Application Facility, the Initial Placing, the Initial Offer for Subscription and/or the Intermediaries Offer at the absolute discretion of the Company, in consultation with the Joint Bookrunners.

The latest time and date for acceptance and payment in full in respect of the Initial Open Offer will be 11.00 a.m. on 23 March 2021. If the Initial Issue proceeds, valid applications under the Initial Open Offer will be satisfied in full up to applicants' Open Offer Entitlements. Qualifying Shareholders are also being offered the opportunity to subscribe for New Ordinary Shares in excess of their Open Offer Entitlements under the Excess Application Facility, described below.

Subject to availability, Qualifying Shareholders who take up all of their Open Offer Entitlements may also apply under the Excess Application Facility for additional New Ordinary Shares in excess of their Open Offer Entitlement. ...

The Initial Intermediaries Offer

Members of the general public in the UK may be eligible to apply for New Ordinary Shares through the Intermediaries Offer, by following their relevant application procedures, by no later than 11.00 a.m. on 23 March 2021. The Intermediaries Offer is being made to retail investors in the UK only.

The Initial Offer for Subscription

The Offer for Subscription is being made in the UK only but, subject to applicable law, the Company may allot and issue New Ordinary Shares on a private placement basis to applicants in other jurisdictions. The Offer for Subscription will open on 5 March 2021 and the latest time and date for receipt of completed Offer for Subscription Application Forms under the Offer for Subscription is 11.00 a.m. on 23 March 2021.

Applications under the Offer for Subscription must be made using the Offer for Subscription Application Form and must be for a minimum of 500 New Ordinary Shares, although the Board may accept applications below the minimum amounts stated above in their absolute discretion. Only one application for New Ordinary Shares may be made by a person under the Offer for Subscription and multiple applications from the same person under the Offer for Subscription will not be accepted.

[andyadvfn1] 22/2/2021 11:35

Personally I'm quite happy with the current level. Of course would like more but not to risk the business growth is more important.

[energeticbacker] 22/2/2021 10:02

Investor's Champion comments:

Although this year's planned dividend freeze is disappointing, TRIG shares still offer a 5.3% dividend yield. We see this income stock as an attractive way to gain exposure to an important sector.

[stewart64] 18/2/2021 11:59

Duplicate post.

[stewart64] 18/2/2021 11:58

Haven't read the results but sharecast are showing stats of EPS 5.9p and p/e 21.7 already for 2020.
Nav up on 30th June by a couple of pence ( as I expected) largely due to raising capital at a premium to nav I would have thought.

[...]

[tomps2] 17/2/2021 14:23

TRIG FY20 results presentation, given to analysts and investors on 17/02/21 by the management team.

Video:

Podcast:

[petewy] 17/2/2021 10:04

Results
Net profit for the year through December fell 38% to £100.2 million amid lower gains on investments.
The company's net asset value per share edged up to 115.3p, from 115.0p at the end of December.
TRIG declared a fourth interim dividend of 1.69p per share to bring the aggregate 2020 dividend to 6.76p, in line with the target set for the year.
Citing an uncertain backdrop owing to the pandemic, it said it was targeting an unchanged dividend of 6.76p per share for 2021.
Its portfolio had generated 3,953 gigawatt hours of electricity in the year, up from 3,036GWh in 2019.

[carpingtris] 12/2/2021 08:01

Acquisition of Grönhult onshore wind farm in Sweden

The Board of TRIG is pleased to announce that the Company has acquired Grönhult, a 67.2 MW ready-to-build onshore wind farm located in the southwest of Sweden ("the Project"). Grönhult is being acquired from Vattenfall, the leading Swedish utility and a major developer of renewables, who will also manage the construction process. The Project will consist of 12 Vestas 5.6MW turbines with construction starting in Q2 2021. The Project is expected to become operational at the end of Q4 2022 .

On completion, the Project is expected to represent approximately 3% of TRIG's portfolio value on a fully committed basis and investments in Sweden will account for 10% of TRIG's portfolio. This acquisition takes the Company's exposure to construction projects to approximately 6% of the portfolio value.

Grönhult will receive market based revenues once operational and the Investment Manager will consider a range of power price hedging strategies. The Project is expected to benefit from increasing electricity demand through greater electrification of transport and the expansion of other energy intensive industries such as data centres in and around Stockholm and Gothenburg. Construction will be funded through equity investment rather than with project debt.

Richard Crawford, Director, Infrastructure at InfraRed Capital Partners, said:

"We are pleased to expand our presence in Sweden with high quality partners. The Nordic region represents a key market for the Company with a strong pipeline and favourable economics for onshore wind."

[gateside] 10/2/2021 17:03

Goes ex-dividend in the morning

[cheshire man] 05/2/2021 12:16

Every little helps :-)

Interim Dividend

The Renewables Infrastructure Group Limited (the 'Company') is pleased to announce the fourth quarterly interim dividend in respect of the three month period to 31 December 2020 of 1.69 pence per ordinary share (the "Q4 Dividend"). The shares will go ex-dividend on 11 February 2021 and the Q4 Dividend will be paid on 31 March 2021 to shareholders on the register as at the close of business on 12 February 2021.

[gateside] 02/2/2021 20:23

Finally!

Good to see TRIG moving back up - Final Results die on 17th February

[andyadvfn1] 02/2/2021 13:27

Nice move up today ( so far ) assumed ahead of next weeks divi ?

[gary38] 20/1/2021 18:03

Brought a few

[bogman1] 15/1/2021 18:29

Thanks Stewart. Always good to see an update. This latest acquisition looks promising