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VEN Ventus Vct Plc

0.00 (0.0%)
07 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ventus Vct Plc LSE:VEN London Ordinary Share GB00B03KMY45 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 80.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ventus Vct Share Discussion Threads

Showing 101 to 124 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
Dave and Mangal, you are welcome. I'm just count myself very fortunate to live nearby to the AGM venues and to have the time to attend AGMs of interest, so I'm more than happy to share the output. I attended the Albion VCT AGM on Monday, see write up on TMF:

Albion have a small, but growing portfolio of renewable electricity projects, including Wind and hydroelectric. They are aiming for around 20% of the portfolio to be renewable energy in the next 2-3 years. Their approach is a bit different to that of Ventus, the gearbox free wind turbines certainly seem like a good idea and locating the windfarms on brownfield, industrial land seems to have avoided planning permission issues (so far). Albion are very keen on small hydro.

Hi timbo003 -

Many thanks for taking the time to do this; this is a very detailed and informative write up - most useful. Very much appreciate you doing this.


timbo003, a great feedback from the meeting and many thanks for posting the link- very useful.
I attended the Ventus and Ventus2 AGMs yesterday and posted a few notes over on TMF for anyone who is interested:
Good to see the recent strength here.
Does anyone have a view on how the tender offer is going to move the price of this & VEN2?

According to the offer notes I've had as an existing holder I can also buy in the market (@ c. 77p for VEN or 43p for VEN2) then tender the shares for rollover into new shares at NAV, also getting 30% tax relief on these. NAV is said, based on Aug data (how helpful and recent, eh) to be 107p for VEN and 59p for VEN2

If I've got it right, you can buy 10000 VEN for about £7800 in costs, roll them over into 9810 new shares (the charges and calculation of allocation are complex, but this seems to be the gist of it) along with a tax relief certificate for £3000. You are then left with the 9810 shares, to be held for 5 years, and an effective purchase price of 48p each (£7800-3000 / 10000). The arithmetic for VEN2 is rather better but, there again, it has been a worse investment to date.

Is this sufficiently attractive to pull buyers into the market, narrowing the discount? I ask as a 5-year holder who----- if the market does rally---- would rather sell out and put the proceeds into a good generalist VCT.

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.

Anybody watching???


Wish I could make it, but no.
Will look forward to reports, thanks. Climate Change Capital seem an excellent outfit, but maybe hampered in this case by planning/turbine delivery issues.

The chat (spin doc = empacher) over on TMF seems more than over here these days.

spin doctor
Better wear a carnation, too, just in case... :)
Okay, the running order for the various Ventus AGMs tomorrow is as follows:

V1: 12.00
V2: 12.30
V3: 13.00

I am likely to be very thirsty after that lot, so if anyone is coming along expect to be dragged to a pub after the meetings.

I suspect I will probably be the only non-director shareholder there, but just in case anyone else can come, I will be easy to recognise as I will be in my nice new non-corporate uniform of blue jeans and rugby shirt (every day is dress down day from now onwards), I've got scruffy brown hair (quite a lot of it) and I'm about 5'8" and I'm skinny as a rake, another distinguishing feature , hopefully only temporary and only very recently acquired, is that my face has a certain asymmetry as a result of some particularly painful dental surgery I had last Friday.

I've posted this elsewhere today, under another pseudonym. I have a lot of money hanging on one key question (70%....).

Ventus 1, 2 and 3 RNS reports out today (01.06.07). It is likely that the paper reports will contain a lot more detail.

Ventus 1 makes steady investment progress. just about on track to reach 70% qualifying investment by 3 years. Modest revenue dividend and maintained NAV is more than satisfactory at this stage, when other VCTs have usually seen significant NAV fall (J-shaped curve etc).

Ventus 2 and 3 have seen minimal investment, and minimal exclusivity agreements, with less than 2 years left to achieve 70% investment. Climate Change Capital are a quality outfit, and there must be no shortage of investment opportunities given the eco-awareness surge in the last year. I wonder how CCC are playing things, what negotiations they have in progress, and how confident they are of making the 70% - and if they will have to compromise on investment return? I spoke with Charles Conner shortly before my investment in Ventus 2/3, and he clearly knows the business and understands that hitting the 70% threshold is the #1 issue, and ideally without compromising investment return. He ran through a few strategies that the funds might adopt if it looked as though achieving 70% might be tough.
So I'm confident, but do wish the RNS had been a little more positive - maybe however there are issues of commercial sensitivity.

spin doctor
Bizarre, but inevitable, I wonder if we will have the same sort of thing happening in the UK within a couple of years?
84p may seem like a bargain IF Ventus deliver as promised - 8p tax free annual dividend on a low risk longterm portfolio. Wow.

I suspect there will be compromises to achieve 70% investments in 3 years, and the net yield may be closer to 7%, but even so...

spin doctor
The Ventus (1) share price has been very erratic of late, often rising or falling 20p in a day, but with a 20p spread, there are no trading opportunities.

I assume the falls are a result of a forced seller out there (presumably due to death, bankruptcy or divorce), so I decided to test the water today with an attempted purchase of some secondhand shares. I managed to pick up 3,000 at 84p/share (with no stamp duty), the trade never showed up on ADVFN, but the trade timing coincided with the tick up in price at 14.52.

Has anyone else been buying VEN in the market? Someone has been buying as the share price always seems to rebound after a fall, I'm not sure if the company will be able to do share buy backs right now, as we must be either in, or approaching a closed period (results are due in June).

This looks pretty strong, should breach 100p tomorrow.
You may be interested in Renewable Energy Generation (RWE) also a wind generator, but with a much narrower spread between the bid/offer than Ventus.
The share price is largely irrelevant - usually as people say reflects forced sales (usually death) and a lack of buyers (no income tax relief on buys in market, tho' other perks intact).

The only issue here is how quickly qualifying investments are being made and whether they are on the basis of the predicted (at launch) 8p net dividend.

I hold a very large bunch of VCTs and frankly ignore the share price I am interested only in the anticipated dividend stream, and the stated NAV so far as that reflects it.

IF Ventus manage to invest as planned and starts churning out annual tax free divis of 8% then expect a possible premium to NAV and maybe even an active secondary market.

spin doctor
David, yes, agreed, I guess there was a seller about, although the shares seemed to end up unchanged, so presumably the MM (Wins) were reassured that the company would buy back the shares at 90% of NAV, as per the company's stated policy.

As Ventus 2/3 remained unchanged all day, I think we can assume it was not due to an issue concerning one of the Ventus investments.

I guess someone wanted to sell and there are no buyers about. Buy now in the market and there are no tax perks (I think).
Does anyone know what caused todays big drop?
amateur trader
G'day. Thanks.
Forgot when I started, had to look - in a small way in '97. Invested each year since, increasing sums, and the divis are now starting to become useful....

Also forgot to say above that the final and least preferred element of the strategy that Ventus mentioned in discussion, that should ensure they meet the 70% criterion, was to target a less demanding yield. Pleased this was the final option offered....

The Falck-keydata thing seems odd. I did not buy keydata (less attractive income and limited capital growth, it seemed very much a dull offer), but had heard that Falck did the running, looking for a tax umbrella within which to shelter a putative project.

Generally I think VCTs are over-maligned and misunderstood.
High risk? No, often structured to be quite the opposite.
Poor performing? Well in many cases, but most (not all) of those were predictable.
Illiquid? definitely! Though who cares if holding for 10-20y, and most Cos. will buy back at 10% discount.

Consequences of Gordon's changes should be minimal for most.
(1) 5 year hold? Well they should be for anyone in their right mind anyway
(2) Less than £8M NAV. Does not seem to be limiting for most funds, and much lower new subscriptions may actually mean the average investment prospect that comes thru diligence has a better risk/reward ratio despite being a smaller Co.
(3) 30% tax credit. About fair; mustn't forget the taxfree treatment on the way out. Any more than 30% clearly attracted ridiculous amounts of tax punt money.

SIPPs, ISAs, sbs, etc all have their place too of course, as I think you have observed elsewhere.

I've just discovered there's chat over at the other place - haven't lurked there much before, but will keep an eye. LordLucanWhatsit has obviously been hearing reassuring things from V too.

spin doctor

Nice to have some company at last, I see that you are bit of a VCT veteran and you probably pre-date me on VCTs (I started investing in VCTs in 2001, the main purpose was to defer CGT liabilities)

The recent interim results from Ventus were really quite reassuring with respect to meeting the VCT investment criteria, alas, the RNS announcements (released on Nov 29th) only had minimal details on investment progress, but the paper version of the interim report (which I received on Dec 12th) had quite a few more details, highlights as follows:

The Investment managers are actively looking at over 30 individual companies developing in excess of 200 megawatts of generating capacity and they are also pursuing opportunities with companies developing small scale hydroelectric schemes as well as with companies owning existing operational assets. They state that on the basis of the current rate of investment and an assesment of the potential investments in the pipeline, we are satisfied that sufficient projects are available to fully invest the funds in accordance with the investment strategy and the time period required to satisfy HMRC requirements in respect to maintaining VCT status.

They also seem positive about the ongoing DTI review of UK energy policy, and state that the consulation process will continue into 2007 and that the managers believe that the proposals already announced support the company's investment strategy and will result in continued growth in the number of investment opportunities open to the Company.

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.

spin doctor
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1

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