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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vh Global Energy Infrastructure Plc | LSE:ENRG | London | Ordinary Share | GB00BNKVP754 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 1.00 | 1.39% | 73.00 | 663,972 | 14:34:47 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 71.60 | 73.00 | 73.00 | 71.20 | 71.20 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 15:03:20 | O | 7,250 | 72.132 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 23/5/2025 | 10:20 | ALNC |  VH Global Energy shares rise on plan to start selling off assets |
| 23/5/2025 | 07:00 | UK RNS | VH Global Energy Infrastructure PLC Proposed Asset Realisation Strategy |
| 23/5/2025 | 07:00 | UK RNS | VH Global Energy Infrastructure PLC Update on UK flexible power with CCR.. |
| 22/5/2025 | 07:01 | UK RNS | VH Global Energy Infrastructure PLC Net Asset Value and Factsheet |
| 22/5/2025 | 07:00 | UK RNS | VH Global Energy Infrastructure PLC Dividend Declaration |
| 21/5/2025 | 14:40 | UK RNS | VH Global Energy Infrastructure PLC Directorate Change |
| 21/5/2025 | 14:27 | UK RNS | VH Global Energy Infrastructure PLC Result of AGM |
| 29/4/2025 | 07:00 | UK RNS | VH Global Energy Infrastructure PLC Change of Venue for 2025 Annual General.. |
| 03/4/2025 | 11:42 | UK RNS | VH Global Energy Infrastructure PLC Annual Results for the period ended 31.. |
| 03/4/2025 | 07:00 | UK RNS | VH Global Energy Infrastructure PLC Annual results for the period ended 31.. |
Vh Global Energy Infrast... (ENRG) Share Charts1 Year Vh Global Energy Infrast... Chart |
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1 Month Vh Global Energy Infrast... Chart |
Intraday Vh Global Energy Infrast... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 29/5/2025 | 12:56 | VH Global Energy Infrastructure | 93 |
| 13/8/2003 | 05:30 | THE REAL MICHAEL HAMPTON ALIAS ENERGYI etc THREAD | 9 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 14:03:22 | 72.13 | 7,250 | 5,229.57 | O |
| 13:58:08 | 72.14 | 20,000 | 14,427.16 | O |
| 13:57:41 | 71.77 | 1 | 0.72 | O |
| 13:55:56 | 72.65 | 13,764 | 9,999.35 | O |
| 13:34:47 | 73.00 | 103 | 75.19 | AT |
| Top Posts |
|---|
Posted at 29/5/2025 11:52 by apple53 Given the marginal nature of the denominator for outperformance, the inclusion of the divs (which I haven't modelled) is presumably quite significant, since they could add 2-4p to the total management fee (using my worked example), assuming they were not included in any of my worked sales figures.Anyone willing to model this? When will the 'circular' be published? Incentive to lower the NAV before it becomes reference? Guesstimate is that value in 2-3 years to us will be 85-90p plus c.10p divs, with average return date being 18 months from now, so discounted back, say 15%? Share price target for nowish 80p? |
Posted at 29/5/2025 11:37 by apple53 Key tables:· Year 1: 85% of Reference NAV · Year 2: 90% of Reference NAV · Year 3: 100% of Reference NAV. The "Performance Percentage" will be: · 0%, if the Portfolio is not realised within the Realisation Period or Total Returns are less than 85% of the Reference NAV; · 15%, if Total Returns are equal to or exceed 85% of the Reference NAV; · 17.5%, if Total Returns are equal to or exceed 90% of the Reference NAV; or · 20%, if Total Returns are equal to or exceed 95% of the Reference NAV So my understanding is that, assuming that there is a gross return on the entire portfolio of at least 85% of Reference NAV (the last quoted NAV before the 'circular' is published), then an amount for each sold asset is calculated based on the year it is sold, so that if it is sold in year 1 for more than 85% of its last NAV, then the amount above 85% is taken as a figure for calculation of performance fee. For assets sold in year 2 it is the amount above 90%, and year 3 above 100%. This 'outperformance' total is then multiplied by 15% if Total Returns are above 85% of Reference, rising to 20% for above 95%. Worked example (ignoring dividends, other moving parts, any revaluations etc.): Assume Reference NAV of 100p. 50% of assets are sold in year 1. All are sold above 85% of reference, with an average of 90%. This is outperformance of 5% of 50% or 2.5p. The other 50% are sold in year 2. All above 90% of reference, with an average of 98%. This is outperformance of 8% of 50% or 4p. Total 6.5p. Given the total portfolio was sold at an average of 94% of reference, the performance multiplier will be 17.5% or 1.1375p. I don't think revaluations will be allowed (to move the goalposts); I don't know how the divs will work; I assume that any asset sold below 85% of its value will not accrue any performance fee at all - conversely, something sold for 120% can potentially accrue a gain of 35% x 20%, ie 7%. So the incentive curve is steep. And the risk of dumping some assets way below 85% (since this is initially no different from selling at 84%) is offset partially by the fact that it would drag down the total % and thus reduces the performance fee multiplier on all the outperformers. The board hasn't yet stated how cash would be returned (beyond the diminishing div). I guess it could be buybacks/tender, which might help push up the price to enable earlier exits for those in a hurry. It could be capital returns (perhaps) which would hopefully be tax free unless they sum to above your in-price and incur CGT. For ISAs I guess capital returns and special divs are identical, but presumably not for institutions. |
Posted at 23/5/2025 15:12 by riskvsreward Am I correct in understanding that the claimed NAV is 103p, and if they realised it @ 85%, that is about 87p. They will then take 15% away which is about 13p, plus the fee of £4.2 m pa for three years. So leaving less than 75 p per share for the investor. I am out now based on that basis. |
Posted at 23/5/2025 09:06 by hpcg materedwards - The IPO price is a point in time. The rise in interest rates means this ought to be yielding more than when it IPOd. It won't delist at 80 as such. You will get whatever comes back in terms of capital piecemeal. What those capital returns look like will depend on the realised prices they achieve after costs. In the meantime the income will continue to flow for those assets still held. |
Posted at 23/5/2025 07:33 by spangle93 Crunch has come a little earlier, rambutan! |
Posted at 22/5/2025 20:39 by rambutan2 Quarterly, with all looking fine and static nav:And june div announced: |
Posted at 25/3/2025 18:22 by hugepants Yes I've been adding. It looks a bit bonkers down here on an 11% yield. You'd have hoped the recent statement dismissing the effects of Trump's tariffs would have supported a price.FGEN is also on a near 11% yield at 71.5p |
Posted at 03/3/2025 22:27 by rambutan2 Bit of a jump in the share price today.But Mex tariffs now due to start tmrro. So perhaps nerves have been calmed re possible impact on ENRG. |
Posted at 13/2/2025 21:46 by rambutan2 Turning hostile-ish:"VH Global Sustainable (“ENRG”) detracted 0.7% from the fund’s returns during January. The trust has a portfolio of sustainable energy assets such as hydropower in Brazil and battery storage in Australia. While the company’s 50% discount is largely due to external headwinds, we believe the managers have also made some strategic errors." "Increasing bond yields have put pressure on alternative trusts such as ENRG where investors have returned to more traditional sources of income, such as gilts. The trust is also sub-sized for many managers with the market capitalisation standing at a little over £200m and a concentrated share register means liquidity is poor. A new investment in Spanish solar late last year, made despite the trust trading on a sizeable discount at that point, has left the managers with little firepower for buybacks. More recently, Trump’s tariffs have cast a shadow over the US Terminal Storage Assets which aim to reduce sulphur content in Mexico’s supply chain. Despite these challenges, we see an opportunity in ENRG, noting it is due to hold a continuation vote in early-2026." |
Posted at 29/1/2025 11:52 by redsonning As far as I can follow, the recent strength of the Brazilian Real must be good for the ENRG revenue and NAV, as would be the AUD too if that maintains some strength. Do I have it right, or am I getting things the wrong way round? |
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