trickler
05 Dec 2015
Is 60p the most we can expect? nm
thirty fifty twenty
02 Dec 2015
Good news to get 60p by end Jan This was a good spot by ST at 51p, and able to buy in market at 48.5p a few days after that.even more surprising was being able to buy at 5p after second RNS more or less confirmed bid.As well as the decent returns here it confirms to me nervous state of market. This can be seen in other realisation situations where discount much larger than risks of default or time value of money e.g...LXB 90p vs 120pPSPI 41P vs 56pBPM 150 vs 25pLEAF 36P vs 60pGKO and LMS have both yielded very attractive retruns on near zero risks .All IMHO, DYOR and BoLBPM, GKO, LEAF, LMS, LXB, PSPI and WIND all in my portfolio
thirty fifty twenty
13 Nov 2015
at 53p - could bid be > 60p? to me I think there is a great opportunity here.....the renewable on shore wind market is shot to pieces,WIND needs financing to develop its assets and pipeline.it has found it very difficult to get access to finance,so it needs either deep pockets or a deep discounted rights issue.to me this means that the alternative non acceptance of the bid offer is not attractive.so NED will be forced to the negotiating table.the current mgt team will buy some of the assets that are being bought...so is that the mgt of wind farm assets that is currently within WIND,or is it the BIO + Solar that new co not interested in.Regardless it seems that NewCo prepared to offer (in effect 60p),and the mgt team get something out of it i.e. subsidiaries.I cant see any reason why NewCo would not go ahead with bid,I think it very likely that mgt team want it to go ahead,the alternative is not very attractive - i.e. a small PLC on AIM trying to raise £30m for no attractive assets. Recent transactions have been with Blackrock so why sell some of the assets to Blackrock and 'struggle' on - means much more sense just to sell the lot.So problem might be that NED think the bid should be at 70p or more...that is fair enough, maybe it is worth more,but the reality is that they don't have an alternative,the business needs HUGE development money which it will very hard or expensive to get,so they just have to negotiate - it is the business option regardless of emotion or the 'cheapness' of the offer.So who is the bidder?Well it would seem Blackrock is the obvious candidate....They know the company well,the relationship is good (NewCo is selling part of what it buys to the mgt team)and they want income producing assets,they have scale.If it is not Blackrock then surely Blackrock will be at the negotiating table by now to try and provide a higher offer. if they are not at the negotiating table then what does that say - jump to take a 60p offer I'd say!!interestingly today's announcement does not re-confirm the 60p offer price...to me that seems surprising...it cannot be lower I think of it would need to be mentioned,but it may be higher.....so the scenario to me...Blackrock agree a deal with CEO,CEO needs to sell it to NED'sNED said what - 60p!!! when our NAV is 72p+CEO goes abck to Blackrock and says they will accept 64p.= Blackrock happy= CEO happy (getting some subsidary companies)=NED's look clever as they pushed bid up from 60p to 64pSo why can one buy shares in the market....??Well why can one buy GKO at 93p when they is 98p to come within 3 months,Why can you buy LXB at 92p after a trading update that effectively confirms NAV of 120p+ and CASH distribution of 40p due within 3 months,Why can you buy PSPI at 40p when NAV is 56p and company is successfully winding up?Why can you buy LEAF at 36p when NAV is 60p and CRS state that expect CASH distribution 'signifcantly' in excess of current share price within c.3-6 months?of course they are risks with all of these situations,but to me the reward outweighs the risk and demonstrates the nervousness of the market,a portfolio of these opportunities would seem attractive in today's volatile amrkets.All IMHO, DYOR + BoLGKO, LEAF, LXB, PSPI, WIND are in my portfolio
greenking
15 Oct 2015
What next? So to recap...The company has dramatically underperformed for yearsTrades at massive discount to NAVTarget after target not met, promises unfulfilled. Slow and slow.Cost base too high.Management over payed.Yieldcos all trade at premium to NAV.Now that same management want to take it off our hands for 60p, when a year ago they said NAV was twice that....Clearly any non exec directors worth their salt would see that the cost base should be collapsed, and the assets should auctioned off to highest bidders.ASAP
Constala
12 Oct 2015
Re: White knight or black Knave? Actually I re-read the RNS, it is clear:bidders are [former] executive management of REG .....tks anyway gentle bear!
Constala
12 Oct 2015
Re: White knight or black Knave? Hiya Paddington Bear where did you learn that it was the directors under this offer?I can not see it on the RNS....thanks a lot! Any information on the mysterious bidders welcome!
paddington_bear
09 Oct 2015
White knight or black Knave? So the main Directors will kindly take the assets off shareholders' hands for unspecified sum and leave perhaps 60p per share to be distributed before company liquidated. Should you laugh or cry at such generosity? Given the shambles into which the business had descended recently, with proposed redundancies and asset impairment, it gives an out around 50% higher than current SP. Conversely, estimated NAV around 70p, house broker's last target over 110p, no already earned dividend proposed seperately. Not so long ago share trading over 80p. Only the inner circle know the likely value of recent windfarm "wins" and if they will qualify for subsidy. In the 45 minutes since market opened share price already dropped back from near 60p spike to trade circa 47/50p.Sad but perhaps predictable kind of WIND down after zeros financing fiasco. PB
II Editor
13 Aug 2015
NEW ARTICLE: Trends and Targets for 14/08/2015 " RENEWABLE ENERGY GENERATION PLC. (LSE:WIND) are providing a fairly interesting picture currently, something the Electricity Sector overall has failed to do as the word 'directionless' springs to mind. The last few weeks have seen the share ..."[link]
trickler
10 Jul 2015
thought this was one safe bet all my oil stocks are down to a fraction of cost, I thought this at least was safe but appears not. Can't wait to get out of AIM (if AMC comes good)tclr
paddington_bear
09 Jul 2015
Wound up too far My patience has finally evaporated here, as the management have failed miserably to get a grip on the opportunities here.1. Management of assets - still only Blackrock.2. Solar - no action on Veolia rubbish tips into solar parks.3. Patented "fuel" and STOR energy. Not licenced out to third parties or built/developed much4. The great concept of build our own and be able to sell on at profit/recycle money only works if you are proactive - just so so slow here, tying up capital.. 5. Nowhere near 300 MW owned target, Proved unable to make gross and nett profit on existing split/volume of assets.6.Other competitors built/bought profit making portfolios, taking notice that the general election could bring subsidy change. WIND management only one with RNS "surprised by government alterations before 2020" The subsidy ship has sailed.........7. No action by management to try to close divergent share price and net asset values.I shall concentrate on main holdings TRIG, JLEN and UEM.Good luck to anyone remaining.PB.
forwardloop
22 May 2015
info Shares mag - courtesy of allaince trustNew wind in Renewable’s sailsA fundraise should give new firepower to renewables specialistSean FlynnJersey-based renewable energy outfit Renewable Energy Generation (WIND:AIM) should provide investors with significant upside following the announcement of key indicative terms for its Zero Dividend Preference (ZDP) shares issue. Following the announcement on 14 May of terms including ZDPs being issued at 100p for per share to raise no more than £31 million, it is envisaged that the net proceeds of the issue will be used to support the procurement and construction phases of projects within its wind portfolio. The issue will have a gross redemption yield of approximately 4% and a life of just over six years to 30 June 2021. The issue will be subject to shareholder approval at a meeting on 8 June. Renewable Energy Generation is in the business of development, construction and operation of wind farms as well as generating power from refined used cooking oil through its subsidiaries. Since listing in January 2010, the group has built a portfolio of operating assets and currently operates 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7 megawatts, as well as three projects with capacity of 28 megawatts through its subsidiary, REG Windpower. Shares says: "Cantor Fitzgerald sees potential upside of 103%. We share the bullish view at 59p."The group also has a substantial pipeline of projects including 53MW in eight wind projects with planning permission or with resolution to grant planning together with a further 46MW at appeal and 78MW awaiting committee decision. The group has an agreement with BlackRock that sees the asset manager purchasing completed projects at a market value. This helps to underpin operating asset valuations and points to value in the company. Adam Forsyth at Cantor Fitzgerald maintains that ‘the more of this capacity it can build out ahead of the March 2017 withdrawal of the Renewables Obligation, the more value it can create for shareholders.’ The replacement Contracts for Difference scheme should still result in profitable projects but due to the fact that returns are subject to auction, they may be less certain. Cantor sees the announced fundraising ‘as having the potential to add value to the pipeline. We have not included any of the projects still in planning in our valuation so are not changing numbers (at present) but there is clear potential here for REG to improve the value of its pipeline.’ The broker maintains a ‘buy’ recommendation with a 120p target. Shares says: BUY Renewable Energy
winningstreak
18 May 2015
Re: Newbie Question Peter - I just looked up the chat-site here and I see your long standing questionremains unanswered. My best knowledge is that the renewable subsidy is paid at a pre-fixed amount per unit, with larger premiums per unit for smaller operators,and differing premiums for wind, hydro or bio-energy. I hope this goes some wayto answer your question.Cheerswsp.s. Is anyone here invested in INSE? I am, and I expect INSE to perform wellin the short, medium and long term. Worth a look, if you have time. IMO
paddington_bear
14 May 2015
Not WIND, more SNAIL After watching competitors raise hundreds of millions of capital and rapidly build/buy extensive portfolios, the Board here finally realises the deadlines for subsidies is approaching. Whilst most of those companies are presently trading at double digit levels above NAV, here we have crumbled to reach minus 15%. Indeed the house broker put out figures today of actual 59p, target 120p.Whether this proposed unusual solution is wise only time will tell, but the company assets owned and managed seem well short of others and probably lacking critical mass. Let us hope a last minute dash for the cash will eventually bring benefits that will generate 5% + dividends to match the market, without landing us with unsustainable debt.PB
trickler
19 Feb 2015
Lots of chunky sells today Why?tclr
