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 Shares Traded Last Trade
  0.00 0.0% 112.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
110.00 115.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.71 1.38 8.46 13.3 18
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 112.50 GBX

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Date Time Title Posts
01/3/202121:34Ventus (wind farms): NAV 95p, 58p to buy, prospective yield 8p155

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Ventus Vct Daily Update: Ventus Vct Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker VEN. The last closing price for Ventus Vct was 112.50p.
Ventus Vct Plc has a 4 week average price of 110p and a 12 week average price of 110p.
The 1 year high share price is 112.50p while the 1 year low share price is currently 98.50p.
There are currently 16,307,547 shares in issue and the average daily traded volume is 140 shares. The market capitalisation of Ventus Vct Plc is £18,345,990.38.
rbcrbc: Has anyone else received a phone call that sounds like a scam offering £6-£15 a share !!!
spectoacc: 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.
a0002577: 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: 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. ... 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 ... 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 !!
a0002577: 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
a0002577: 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 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
a0002577: 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 the half year report was quite encouraging
timbo003: It was the AGM yesterday, see my report over on the Motley Fool:
freda: 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.
freda: Electricity costs in the UK expected to double by 2020. This cannot do any harm to VEN whose costs are just the depreciation of the physical assets installed a few years ago. I do wonder when the market will wake up to this share currently yielding 6% tax free, with the yield only likely to go in one direction.
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