Ventus Vct Share Discussion Threads

[dave129] 15/11/2019 12:28

Quite - but last few years the latest the divi announcement has been is Nov 1st ... it's been radio silence this year. Most of the time it's last week Oct we've seen the RNS.

[spectoacc] 15/11/2019 08:20

July & December XD dates.

[dave129] 15/11/2019 07:42

Shouldn't we be getting a dividend announcement around about now?

[sharesoc] 16/8/2019 16:07

There is a detailed report on Ventus' recent AGM which can be found in our members area here: hTTps://sharesoc.ning.com/xn/detail/6389471:Comment:53803 To access the report, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hTTps://www.sharesoc.org/membership/ Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hTTps://www.sharesoc.org/contact-us/

[spectoacc] 16/8/2019 05:33

Lol no - definitely a scam. AGM stuff all worth reading - Nick Curtis very nearly succeeded in getting on the Board (& deserved to IMO). Rare to see such a massive vote against incumbent directors, I reckon they've one more year at most.

[rbcrbc] 15/8/2019 19:05

Has anyone else received a phone call that sounds like a scam offering £6-£15 a share !!!

[spectoacc] 25/6/2019 18:41

Mixed feelings so far - they've addressed some of the headline issues, presumably to head off losing the vote, without dealing with some of the more insidious stuff, particularly the more "hidden" fees & conflicts. Share classes to (finally) be merged, debt rescheduled and cheaper, small special divi.

[spectoacc] 25/6/2019 13:47

Thanks for that - I've a lot across the Ventus range but almost all in nominee a/cs. Charges have long been ridiculous. Edit - oh! I need to read this morning's news from the co.

[sharesoc] 25/6/2019 11:28

Check out this recent blog post on "VCT Investor Group – Ventus & Ventus 2 VCT Shareholder Resolutions" hTTps://www.sharesoc.org/blog/vcts/vct-investor-group-ventus-ventus-2-vct-shareholder-resolutions/

[a0002577] 15/6/2017 08:27

The final results are out and while the NAV has gone up (because they have upped the asset life from 20 to 25 years) - I am most displeased with these statements in the VEN2 report - and there are similar ones in the VEN1 report information on the calculation of the management ‘bonus’ It is difficult to find the relevant info in the report but if you look at the VEN2 Annual Report (looking at the C class shares) you will find all the information you need as follows: * start with Note 3 to the accounts (on page 48 of VEN2 report) which sets out the terms for the manager's bonus. i.e. once the total NAV return exceeds 160 pence then the manager is entitled to 20% of the amount by which the return exceeds 7 pence in the year. * then find the total NAV return on page 9 - bottom line - and it is 158.83 pence - i.e. below the 160 pence threshold. * then find the 'return per share’ - bottom line on page 40 – which is 15.92 pence for the C shares - so if target is achieved manager is entitled to 20% of 8.92 pence (the amount left after taking off the 7 pence). * Finally look to page 3 where it says that if the dividend is approved the manager will be entitled to the performance related incentive fee. The logic of the board seems to be that the fee is only paid if the dividend is counted twice - once because it is already in the NAV at the year-end – and again when it is paid. Scarcely in the shareholders’ interests.”

[a0002577] 28/5/2017 16:37

Hi This is the letter I sent to the Chairman in early April Dear Mr Moore MANAGER’S FEES I trust all is going well. I, and a number of shareholders I have communicated with recently, am still very concerned by the high management charges levied on the assets of Ventus 2 VCT plc which is fully invested. The changes in the rules preventing any new wind farm assets being purchased means that the manager’s work load has been considerably reduced but as yet there has been no commensurate cut in fees. Two announcements made this year by VCTs with a similar business model are interesting in context – and while I am sure you are aware of these I feel it is necessary to draw them to your attention A. Hazel The Hazel Renewable manager has offered a reduction in management fee from 1.9% to 1.4% now it is fully invested. See page 9 of the circular below. http://www.downing.co.uk/sites/default/ ... c_2016.pdf. The rest of the document makes interesting reading as well. B. Foresight Solar & Infrastructure VCT plc The half yearly RNS states, inter alia, “The annual management fee of the Ordinary Shares fund is 1.5%.” and can be viewed in its entirety here http://www.investegate.co.uk/foresight- ... 2157H8476/ It also includes these statements: “As outlined in my statement last October, the key focus of the Board and the Investment Manager is to optimise the portfolio's performance and valuation through a number of concurrent processes including optimising the debt content of investments through refinancing at historically low interest rates; extending leases and planning permissions from 25 years to 35 years to reflect the expected useful life of the plants; and to lock-in increased power prices by entering into power price agreements (PPAs) that maximise revenues...” If you were to implement some or all of the changes being pursued by other similar VCTs it would a) considerably enhance the dividends and b) have a substantial effect on the NAV and so I – and other shareholders – really hope you are examining and implementing similar moves within Ventus VCT 2 plc. I hope this is useful and shall look forward to hearing from you and seeing the full year results in due course – and, of course, attending the AGM Yours sincerely It looks as though the RNS should have been dated 1st April !!

[spectoacc] 28/5/2017 08:38

Cheeky sods! "...The annual management fee will reduce from 2.5% to 2.25% of net asset value and will reduce further to 2.125% from 1 November 2020 and to 2% from 1 November 2021 onwards." I'm all for a reduction, but exactly why does it take until "..From 1 November 2021" to drop to 2%?

[a0002577] 26/5/2017 17:33

So they have produced an RNS saying they have agreed a lower fee with the manager : dropping it from 2 and a half% to 2 and a quarter% Pathetic The board should go and we will see what happens at the AGM.

[a0002577] 18/5/2017 08:30

I too have rather a lot - and have bought more recently - including a few D shares which are like hen's teeth. If they ever do something about the high charges NAV will go up and the dividend will also go up. Probably add 20% to share price if they ever get their act together. And all tax free income which supplements my pension nicely. Will keep in touch - regards BBB

[spectoacc] 18/5/2017 08:11

Ah thanks @BBB, thought it had all gone a bit quiet over there! I've considerably more Ventus than I had before, and happy to hear any proposals. Important we keep on at the Board.

[a0002577] 18/5/2017 07:48

Absolutely right, SpectoAcc. I have written to the chairman about the high costs - and suggested that they reduce them in line with other green infrastructure VCTs - and got a non-committal reply. My letters also included an idea for merging the share classes and a progressive incentive for the manager. i.e. the hurdle increases every year. With the closure of the Fool Boards, most of us have migrated to the Lemon Fool https://www.lemonfool.co.uk/index.php and kept our monikers. Worth a look. It is free and run by ex-Fools. When the Ventus twins release their results, and they don't say they are reducing the costs to say 1 and a half percent, I shall write to the larger shareholders of VEN 2 ( i already have the register) asking them to support removing the whole board. with kind regards - BBB

[spectoacc] 17/5/2017 13:06

Been waiting for merger of Ord & C-class of these - but seemingly now not happening. Main reason to look forward to it was a slight lowering of costs - no surprise to find them keeping the costs high!

[a0002577] 04/8/2016 08:32

SpectoAcc Can you do a post on the Fool and then I will reply to you off board. You may just get a chance to vote before next AGM! Or you can do an off board reply to one of my Posts (or TImbo's) and we can tell you what is happening. - kind regards - BBB

[spectoacc] 04/8/2016 08:17

Some excellent points on those threads, will look forward to using my votes in just under a year's time.

[spectoacc] 04/8/2016 07:31

"Virtually dead" an understatement! Thanks for the Fool link, will take a look - big into the Ventus funds and was going to start a new thread, but only when I'd decided I had enough :) Will leave it if The Fool is the place to be.

[a0002577] 04/8/2016 07:02

This thread seems to be virtually dead here but over on the Motley Fool there is an active discussion going on : have a look at http://boards.fool.co.uk/ventus-and-ventus-2-agms-2016-13412252.aspx posted by Timbo003 which gives links to other relevant Ventus discussions. - Please join in regards - A00 (aka BusyBumbleBee on the Fool)

[a0002577] 30/10/2014 14:42

Hello - long time since I have posted here. Back in the early days of this VCT I didn't invest as I had already done my share for that year but thought it was a good bet. I was wrong - terribly mismanaged at the beginning and didn't get anywhere near the yield of 8% they touted at launch - and it is still a long way off. However there does seem to be value emerging BUT there could be even more value emerging in Ventus 2. I bought into that heavily a few weeks ago when they were yielding close on 7%. The yield on my original investment is now up as they have increased the Dividend and I am sitting on a share price gain to boot - but I have no intention of selling.as the half year report was quite encouraging

[spin doctor] 30/7/2014 21:51

Extraordinary share price discount of ~23% to a conservative NAV. At least with a stock like this one cannot justifiably be accused of ramping ;.)

[timbo003] 30/7/2014 19:22

It was the AGM yesterday, see my report over on the Motley Fool: http://boards.fool.co.uk/ven-and-ven2-agms-2014-13066592.aspx

[freda] 01/11/2013 07:17

For me, probably the most interesting part of the interim figures is the upward visability of future dividends, 6-8p in the case of VEN. Either the dividend figure will not be met, or the share price will have to increase to make the yield sensible again. A nice long term hold, especially at the current NAV discount. Steady as she goes but in the right direction.