22nd Dec 2020 12:17
Gresham House Renewable Energy VCT PLC - London-based venture capital trust that specialises in long-term renewable energy generating projects - Reports net asset value per share decreases across both VCT1 and VCT2 final year results. Says VCT 1 NAV per share as at September 30 is 106.8p, down from 117.2p the year prior due to "a material fall in power prices, while lockdowns have led to large changes in the way businesses function." Declares final dividend of 51.3p for the year ended September 30, down from 45.5p in 2019.
Says it is "disappointed" that Resolutions 8 and 9, which permits directors to raise funds through the issue of new shares, was not passed at its annual general meeting on June 25, "as the money raised would only have been used in exceptional circumstances to protect the VCT status."
Gresham House Renewable Energy VCT 2 reports 105.6p NAV per share as at September 30, down from 115.9p the previous year due to challenging market conditions as a result of the Covid-19 pandemic. Declares final dividend to be the same as VCT 1. Says long-term outlook remains positive, with "returns from the installed base of assets expected to continue to generate steady cash flow."
Current stock price: 738.00 pence
Year-to-date change: up 21%
By Zoe Wickens; [email protected]
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Related Shares:
Gresham Ren 1aGresham Renew 2