Ventus Vct Investors - VEN

Ventus Vct Investors - VEN

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Stock Name Stock Symbol Market Stock Type
Ventus Vct Plc VEN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 80.50 01:00:00
Open Price Low Price High Price Close Price Previous Close
80.50 80.50
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sharesoc: Check out this recent blog post on "VCT Investor Group – Ventus & Ventus 2 VCT Shareholder Resolutions" hTTps://
timbo003: Hi goosegreen Yes I'm definitely watching (and buying recently), I think most Ventus (1,2&3) investors hang out over on the Motley fool VCT bulletin board nowadays. Why not join us over there.
spin doctor: Timbo Have just discovered and read this thread. Interesting. I also hold ~55k in V 1/2/3, also for the v long term. Spoke with Ventus team pre-investments. I would be not too worried about hitting the 70% 3 yr investment target as they have contingencies, eg invest in established wind farms, invest in non-wind projects. Perhaps most usefully, if there are delays in a particular project to which they have committed (eg due to turbine manufacture delays) they can invest the money in that project well ahead of turbine delivery - not ideal, but would prevent failing to meet that VCT criterion. The Keydata situation is interesting - their anticipated yield was much less than Ventus I recall. There is a risk that any VCT fund will be identified by investee companies as one that can invest at less than market rate, given that investors benefit from tax reliefs. Maybe Keydata has fallen into that trap, one that Ventus are aware of and very keen to avoid. Indeed they claim to have been made that unattractive offer by investee companies; and told them to go away.
timbo003: Well {as anticipated), this seems to be more of a blog than a BB thread, so I reckon I might as well post on my recent investment experiences concening Westmill windfarm. You may recall Westmill are a (wannabe) windfarm co-op who recently raised money through a public subscription to fund a Windfarm near Swindon, they tempted me with EIS tax benefits, which I doubt very much will be forthcoming. Westmill's web site is here: Westmill Co-op launched their share offer in November 2005. The objective was to raise £3.75M from the share offer, which combined with a bank loan would fund the £5.8M required to purchase and commission 5 X 1.3MW turbines. There was also a contingency plan which required £2.65M from the share offer, which combined with a bank loan would fund the £4.15M required to purchase and commission 5 X 0.85MW turbines. Rather than allocate shares on a first come, first served basis, the co-op stated that they would prioritise certain categories with respect to share allocation in the event of an oversubscription. For example, investors living within a 50 mile radius and members of other Energy4all co-operatives would get prioritised over other applicants. It is fair enough having priority applicants, I don't have any problems with that, but structuring they offer in such a way gave no incentives for non-priority applicants (such as myself) to apply early for shares, as a result, the share offer got off to a very slow start. In fact, I didn't send my application off until 10 days before the offer closed. What Westmill should have done, is state that a certain percentage of shares would be allocated on a priority basis and the remainder would be on a first come,first served basis. If they had done this I (and I'm sure many others) would have applied for shares much earlier, i.e. during November rather than waiting until February. On March 28th they wrote to shareholders stating that they raised £4.3M, however, Seimens could not supply the 1.3MW turbines in a "reasonable time frame" and that although an alternative 1.3MW turbine was available, it was not well suited to the Westmill site. They stated that they intended to persue the contigency option, scale back applications for non-priority applicants and had enclosed a refund cheque with the letter. On April 28th Westmill wrote to shareholders again, stating that construction was due to start in September 2006 based on 5 X 0.85MW turbines. On 26th July they wrote again, informing shareholders that they had instructed the co-op's advisers to negotiate terms with Gamesa, but Gamesa had suddenly advised them that the delivery time had increased from 9 months to three years. I do find it astonishing that Westmill refunded the money in March, before they had checked that the 5 X 0.85MW project was still viable within an acceptable time frame. By sending out the refunds they effectively ruled out the (preferred) 5 X 1.3MW option unless they initiated a further time consuming fund raising. Finally, one last gripe: in the prospectus why on earth did Westmill state that they intend to pay shareholders annual interest (taxed at 20% for ordinary rate taxpayers and 40% for higher rate taxpayers), rather than dividends (taxed at 10% for ordinary rate taxpayers and at 32.5% for higher rate tax payers)? Needless to say, I now regret investing in Westmill, but, what a relief that I got scaled back in my application. Why didn't I stick all my Westmill investment in Ventus instead, Doohh!
timbo003: david Yes, Cavendish (still) refund all the commission (on any one VCT investment application) for a fee of £35. The total Ventus 2 / 3 commission rebate (to the FSA and the investor) is 3%, so it makes sense to go through Cavendish if you are applying for more than £7K worth of shares.
timbo003: It looks like Ventus may either do a top up later this year, or start a new "Ventus 2" (thanks to dawar on the Alkane thread for the link) Ventus VCT, which launched earlier this year, invests in wind farms. Although it is now closed to new investors, it is planning to offer another round of shares in the same or a similar fund later this year.,,1-529-1687481,00.html Good! I'll almost certainly be subscribing.
timbo003: Here's a couple of links to weekend press articles that are relevant: From todays Independent Government report gives new wind to green energy which begins "Wind power is better than nuclear power stations for tackling global warming, the Government's official environmental advisers will tell Tony Blair this week.". I'm not entirely sure how they work that one out, but I'm quite happy to go along with the conclusion. From Investors Chronicle "Fuelling the future" a four page article which discusses London listed companies (and companies coming to AIM) which are involved with wind power, biomass technologies, fuel cells, wave and tidal power, solar power and green energy funds (you will need to subscribe to IC to view). Ventus and Keydata VCTs get a mention along with all the usual suspects including Alkane (ALK), ITM Power (ITM), Ocean Power Technologies (OPT), Solar Intergrated Technologies (SIT), Biofuels (BFC) and D1 Oils (DOO)
a0002577: How right you are energyi : I have been acting as the Cassandra for VCTs for the past few months. This has been the year when many inexperienced managers have launched VCTs on the back of supposed tax advantages and many investors have been lured by the same. A disaster waiting to happen in my view. However, VENTUS is about the only one that I would have invested in as it has a sensible business model. The others of similar type over the years have been enterpise (OK ish), Close Bros VCT (bloody good to me - yielding over 8% consistently on the issue price but of course much more on my actual cost of 38 pence!) The rest have been pretty poor investments compared to something like UU. or AWG - or indeed any of the other utilities really. I think I posted on the Venture Capital thread something like 'I am not buying until the distressed sellers come out of the woodwork in three years time, when I can examine the value of the portfolios and buy at less than the 58 pence I would have to pay now' Murray VCTs have performed exceptionally badly - but I have made some money by buying in the market (and selling again) with Murray VCT3. As you know they are changing their investment manager to Close Bros - so there is some hope that they will improve their performance in the medium term. However investing now (with the large spreads as well) doesn't appeal to me and is only for the really brave.
timbo003: asmodeus The 40% tax offset is due to run until April 5th 2006, although if you want to do VEN, you will probably have to get in before May 31st this year when the offer is due to close, I guess VEN may extend the offer a bit further, but probably not beyond the end of June 2005 (see comment from Bestinvest below) After the dramatic surge in demand in the final weeks of the tax year, VCT demand has now, unsurprisingly, subsided. Most commentators, including ourselves, expect the record total for 2004/5 to be beaten in this year as more investors become aware of the generous VCT tax breaks, which are almost certain to be scaled back for 2006/7. However, most investors will probably wait until near the end of the tax year before subscribing. The introduction of the EC generated Prospectus Directive could cause a hiatus shortly, since all current prospectuses will become invalid on July 1st. The new directive seeks to impose a standard for prospectuses that will apply to every member country. Whether VCT investors will be able to draw any additional comfort from the inclusion of a Working Capital Statement though is debatable.
timbo003: Hits since July 15th 2013 Hit Counter Question: So what's the catch? Answer: None really, but it is a venture capital trust (VCT), so not suited to everyone's investment style. According to the prospectus, Ventus plans to focus on investing in companies developing smaller, onshore, wind energy projects, here's a quick summary of what they do;-lay=allfields&-format=vct_detail1.htm&investment_codename==VEN&-find So here's the deal: you pay 100p/share and you claim back 40p from the Inland Revenue, and the IFA (who you bought the shares through) should give you a 2p commission rebate, so, the net purchase price is going to be around 58p You will probably have to wait 3 years beore the 8p/share/year divi kicks in, meanwhile you will have to make do with just 3p divi per share/year (not that much of a hardship). Oh, and another bonus, there is no further tax to pay on the divi (even if you are a higher rate tax payer). However, if you sell the shares within the first 3 years you will have to pay back the 40p/share tax rebate. The shares in many (but not all) VCTs can be fairly illiquid and they can trade at a fairly deep discount to NAV, however, I suspect that Ventus will be one of the exceptions, that's if they deliver on the 8p per share divi. If they do deliver that sort of divi, then I would expect the shares to trade at considerable higher than 100p/share. I'm in for 17K shares and I may buy a few more before the offer ends (May 31st 2005). The company is raising £25M and they are currently just over half way to the target. For more info, visit the Ventus web site If you want to invest, I would suggest you use either Bestinvest, British Taxpayers or Allenbridge (to process your application), all of whom will offer you a nice big commission rebate, Bestinvest are currently the most generous. ############################################################################# Links to recent articles, events and bulletin board threads: Ventus and Ventus 2 AGM reports (July 2013): Greencoat UK Wind thread: Renewables Infrastructure Group thread: Investors Chronicle article: Renewable Energy ITs (July 2013):
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