Ecofin Water and Power Opportunities – low risk opportunity $ECWO

Saw this and it struck me as a good opportunity…

Ecofin Water and Power is an investment trust.  It has just gone to a continuation vote and to get the vote through management has proposed the trust is split into:

1. A liquid vehicle with liquid investments.
2. An illiquid realisation vehicle to be wound up within two years -14.1% April 2016 NAV.
3. A cash option – of up to 50% of NAV.

Details are here.

The trust is currently trading at a discount of 16% to a NAV including realisation costs.  I suspect post realisation this discount will have narrowed – I would anticipate a c10% profit on this within a month or two, should the vote go through…

UPDATE:

I should add below is based on a NAV of 163p – since then it has fallen to 157p… Some may be due to dividend payment / changes in calculation methodology but makes opportunity slightly less attractive than outlined below….

Tejoori Sells Bekon Holding

EDIT – 24/8/2016 RNS Today has basically said Bekon was sold for $0.  This invalidates much of but not all of the below – still plenty of cash and land plots to be sold…

Tejoori has sold their holding in Bekon – this is in the books for $3.35m.

This is worth 12c per share at book.  Since Monday, when I suspect smarter people than me picked up on the news the share is up about 12c – 16c depending on how you look at the spread….

Details are here.  Its a 100% sale but we dont know the price.

ALF – Net Assets 6X Market Cap, Cash half Market Cap, Potential 5 bag opportunity…

Just put in a 7% portfolio position on the Alternative Liquidity fund at $0.13 – henceforth known as ALF…

18/12/2016 ** WARNING – This share has now paid out $0.075c and is trading at more than I bought it for – now it is much less attractive.  I continue to hold.

This is where Hedge funds go to die, its a fund of side pockets and other iliquid investments.  But its got 5c in cash and much of the rest of the NAV should come eventually, NAV is 0.86c per share.  This discount is extreme, if only one or two investments pay off you get your money back at current prices.  I believe the chances of this are very good.