The Directors’ Valuation is currently £2.23 per share.
The Directors’ Valuation is calculated by taking the discounted cash flows of all operating projects and projects under construction for 20 years from first operation. In simple terms, discounted cash flow is a method of working out the value of a company today, based on projections of how much money it’s going to make in the future. No value is attributed in the Directors' Valuation to the pipeline of potential projects or projects under exclusivity.
The Directors’ Valuation calculation is based on a detailed discounted cash flow valuation, which is considered appropriate for infrastructure assets such as wind farms and hydro generation projects which have largely predictable long term cash flows. The Directors rigorously ensure that the method of Company valuation calculation and discount factor used (which reflects the unlisted status of the shares1) is consistent from one share issue to the next.
The Board is committed to reviewing the valuation of Thrive Renewables plc following material events. Material events include changes in the portfolio (new project acquisitions for instance) and significant market developments.
We're here to answer your questions, so get in touch with the Thrive Renewables team on 0117 428 1850 and firstname.lastname@example.org
1 - Thrive's shares are traded in a monthly auction, but are not listed on a recognised exchange such as the London Stock Exchange or Alternative Investment Market (AIM).
Independent assessment of share valuation
In 2014, Thrive Renewables commissioned Edison to conduct an independent valuation and benchmarking of the Company to substantiate the Directors' Valuation. This will give buyers and sellers additional information on which to base their pricing decision. The summary of their report can be downloaded here. If you’d like to see the full version of Edison’s report please contact us on 0117 428 1850 or email@example.com.
In 2019, we sold two operational wind farms realising a significant gain. Established renewable energy projects have become a desirable commodity, offering long term inflation linked revenues. The sale of the two projects provides further evidence to support our valuation of the Company.
Historic share prices and dividends paid
Please note that past performance is not an indicator of future performance.
|Year||Share price (pence)||Dividend paid per share (pence) *|
|2014||215 (until October 2014); 228 (from October 2014)||4.0|
|2015||234 (until July 2015); 218 (from July 2015)||4.0|
|2016||227 (until October 2016); 235 (from October 2016)||4.0|
|2019||265 (until March 2019); 228 (from March 2019)||40.0 (interim)|
|2020||223 (from April 2020)||7.0|
Dividends are recommended by the Board of Directors and approved by shareholders at the Company’s Annual General Meeting (AGM). The dividend paid in a given year relates to the performance of the Company in the prior financial year and is payable to the registered holder of a share at the close of business on the day before the AGM.
The 2019 dividend payment of 7 pence per share was approved by shareholders at the AGM on 29 June 2020.
Thrive is making a difference! Visit our Impact section to see how much carbon emissions our investors are saving.