TLT - Tilt Renewables

[Southern Lad]

This mornings announcement of a 15 year PPA with Newcrest Mining covering 55% of the output from the proposed 400 MW wind farm at Rye Park NSW is very positive. Demonstrates that the development pipeline has a number of well advanced projects which hopefully excites potential purchasers as IFT seeks a knock out takeover price.

This is a large project - Snowtown 2 which TLT sold 12 months ago for an enterprise value of $1.073 billion was 270 MW. The comparison is somewhat simplistic but does give a fell for the overall context.

I am surprised the NZX announcement today wasn’t flagged as Price Sensitive.

[Southern Lad]

See announcement to ASX this evening after the NZX closed on further commissioning progress on the Dundonnell Wind Farm:

https://cdn-api.markitdigital.com/ap...df02a206a39ff4

Cleared to raise output to 295 MW out of total capacity of 336 MW.

[kiora]

See announcement to ASX this evening after the NZX closed on further commissioning progress on the Dundonnell Wind Farm:

https://cdn-api.markitdigital.com/ap...df02a206a39ff4

Cleared to raise output to 295 MW out of total capacity of 336 MW.

Cost $A560m to build, worth $A1.5b by my guestimate ?
Is that right?

[bull....]

https://www.nzherald.co.nz/business/...USMVIIENAVNVI/

Spain's Iberdrola a frontrunner for Tilt Renewables - report

cool they just need to double the price again. always said on this thread ift were trying to steal them from us at a rediculous price around 3.50 and hello there now $6 with big buyers in the wind

[RTM]

https://www.nzherald.co.nz/business/...USMVIIENAVNVI/

Spain's Iberdrola a frontrunner for Tilt Renewables - report

cool they just need to double the price again. always said on this thread ift were trying to steal them from us at a rediculous price around 3.50 and hello there now $6 with big buyers in the wind

You mean this one ? You are being a bit generous.

The $2.30 per share takeover offer from the Infratil and Mercury Joint
Venture (JV) for your Tilt Renewables shares (the Offer) is due to close at
11.59pm on October 15th (unless the Offer Period is extended by the JV).

At the time of writing this letter, acceptances of the Offer total less than
1% of the shares of Tilt Renewables (excluding the exercise of the option
over the shares held by TECT Holdings Limited which was entered into prior to
the Offer).
It appears shareholders overwhelmingly agree with the Independent Directors
that the Offer is inadequate and does not represent fair value for your Tilt
Renewables shares.

[Southern Lad]

You mean this one ? You are being a bit generous.

The $2.30 per share takeover offer from the Infratil and Mercury Joint
Venture (JV) for your Tilt Renewables shares (the Offer) is due to close at
11.59pm on October 15th (unless the Offer Period is extended by the JV).

At the time of writing this letter, acceptances of the Offer total less than
1% of the shares of Tilt Renewables (excluding the exercise of the option
over the shares held by TECT Holdings Limited which was entered into prior to
the Offer).
It appears shareholders overwhelmingly agree with the Independent Directors
that the Offer is inadequate and does not represent fair value for your Tilt
Renewables shares.

Since the $2.30 takeover offer in late 2018, TLT has had a 1:2 cash issue at $1.70 per share followed by a 1:5 share cancellation at $2.91 which effectively returned the full amount raised in the cash issue. By my rough calculation, the $2.30 takeover price is effectively equivalent to $1.92 per share taking into account the cash issue and cancellation. Today's closing price of $6.05 represents a 215% gain on this over this effective price in a period of just over 2 years. If IFT had bid a sensible amount at the time (say $2.50 per share), my bet is they (in conjunction with MCY) would have got to 90% and forced minorities out. Bet they are kicking themselves now for being to tight with the purse strings.

[kiora]

They are not the only ones looking for green power
https://www.marketscreener.com/quote...sted-31982719/

[Southern Lad]

Parcel of 173,425 shares traded at $6.37 at NZX close today, which was off the intra day high of $6.68. Price up by over 50% during December since IFT announced their holding was on the block. Presumably AustralianSuper’s rejected bids for IFT also driving interest in a stock where there is limited free float.

Very difficult for a retail shareholder to determine where the true value of TLT lies, but the trade today suggests some large bets are being placed (by both the seller and purchaser). Renewable energy very much in vogue. Potential purchasers view on the value of TLT’s development pipeline will also be crucial.

[bull....]

agree i had tlt as a big bet for the future

this is what i said in 2018 and have trumpted it all the way to today. also said ift was trying to buy it out on the cheap too. how true

fantastic outcome for ift and tlt shareholders

[bull....]

agree i had tlt as a big bet for the future

this is what i said in 2018 and have trumpted it all the way to today. also said ift was trying to buy it out on the cheap too. how true

fantastic outcome for ift and tlt shareholders

this sites crap to post on as usual these days