16 February 2018 – update on sale of solar asset
The company has announced that the specific circumstances under which the gross sales proceeds from the recently announced sale of SEI1 could increase by an €0.75m have now been met. The estimated net proceeds from the sale of SEI1 after allowing for costs are now €8.64m. Further news is expected by the end of March but the current share price still sits at a discount to the cash likely (but not guaranteed) to be returned to shareholders within the next 12 months. The shares are a SPECULATIVE BUY at this level as there is still scope for issues with the sale, which represents the bulk of the value of the company.