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Helius Eng Share Discussion Threads
Showing 2401 to 2422 of 2425 messages
|Money arrived today in my Jarvis Sharedeal Active account. No info though, i might get a letter this week giving me the breakdown.|
|I have today received a cheque (at 5.106p per share) from BDO being the liquidation payment for just part of my holding in HEGY. The cheque is made payable to Rock (Nominees) Limited and crossed A/C Payee - I don't know who Rock are but it certainly ain't me. Nothing is simple!|
|Nice to hear it at last!|
|According to BDO the first liquidation payment is expected at the end of January.|
|i don't know if this has been posted or what date it appeared on the website.
Appointment of BDO and timetable for return of capital
Further to the Notice from the Board dated 5 May 2015, we can confirm the Company was placed into Members' Voluntary Liquidation on 21 May 2015 and Malcolm Cohen of BDO LLP was appointed Liquidator.
All initial statutory matters have now been dealt with. Companies House has been notified of the Liquidation. The Liquidator is required to place certain adverts in the London Gazette including a notice to creditors inviting them to submit claims. These notices were advertised on 28 May 2015.
The Company's tax advisers are in the process of preparing all outstanding tax returns (corporation tax, VAT and PAYE) in respect of the pre-liquidation period. Once these returns are submitted and, where applicable, liabilities settled, the Liquidator will request his final clearances to close the liquidation from HM Revenue & Customs ("HMRC").
Following a recent internal restructuring of insolvency processing work from 1 December 2014, HMRC intend to provide an 'integrated' insolvency claim encompassing all HMRC debt from a new office in Worthing, the Enforcement and Insolvency Service Unit. However following this centralisation all Insolvency Practitioners have encountered significant delays in HMRC providing the necessary clearances with this routinely taking in excess of four months of the initial clearance request.
Once tax clearances and have been obtained, the claim period has expired, and all known creditors have been settled, a first distribution to members may be made. It is envisaged that a majority of the funds (in the region of £10m) will be distributed at this stage. Timing of the distribution presently remains uncertain but it is anticipated to be Winter 2015. We will liaise with Capita, the Company's registrar, to confirm the amounts payable to the members and they can issue the distribution payments. The Liquidator would therefore ask that all shareholders ensure that any changes to their contact details are updated with Capita.
Following the release of the funds held in the escrow account (circa £1.2m pending warranty claims), a second and final distribution may be made to the members in April 2016, subject to the above. As before, we will liaise with Capita to issue distribution payments direct.
Once the above has been dealt with the Liquidator will issue his final report and convene the final meeting of members. The meeting must be advertised in the London Gazette giving at least one months' notice prior to the meeting.
Should you have any queries regarding the Liquidation please do not hesitate to email BRNotice@BDO.co.uk quoting Helius as the subject."|
All over - 400% upside from lows.|
|Worth waiting or selling -
Timing may be a little issue - But still a bit of adiscount here|
|Good Morning -
Yes, I wrote on another BB around 5p a share taking into account any liability -
Those that acquired at the 1.1p when there was consistant selling will have made a very good return -|
|Correct that's what I saw and with approx 190 m shares it's about 5 pence thanks|
|Now I have looked at the detail, i am more optimistic. From the info available in the document that the company issued the costs are:
· retention amount under the terms of the SPA: £1.23m;
· professional fees relating to the Disposal: £0.3m;
· existing creditors of the Company and expected operational costs to the end of the retention period: £0.7m; and
· contingency: £0.1m.
so add these up, deduct from the sale price of 12.3m, gives shareholders about 10m. and maybe some of the 1.23 retention later.|
|Qvg you mean costs/ liabilities are about say maximum 15 percent and shareholders will see say roughly get 2px 3 times offer*0.85 net= which is say at east 5 to 5.5 pence ?|
but shareholders do not see the full amount - there are liabilties, costs etc. my quick calculation is that it means about 10-15% to current share price.|
|Excellent result for perhaps short to medium term holders -
£12.3mill cash to be returned - That would equate to over 6p a share versus the current 3.13mill Market cap -
1.75p offer V offer at over 6p - The only question is soon as practically possible - However as a Nigel Ray stance the dirs own half the shares so it is in their interest to get the money asap -
Low of 1.1p V around 6p|
|casino, tell us more.|
|A big intraday reversal this morning. From -30% down to currently +5% up.|
|Looks like a few traders out now -
Good luck -|
|Interesting old Thumper -
Are thet looking to sell Avonmouth? I'm currently going on the basis that 4p looks a good bet initially - Anything on top really is a bonus.|
|"Sell CORDe - >> GBP7.85m say even £8-9 million would equate to 4p+" The BoD would want more than that.
But if Avonmouth was sold as "Shovel Ready" what's it's worth?
In 2008 Stallingborough was sold for £28M and that was only 65MW not the 100MW of Avonmouth, so pick your own numbers, £40M?
I have that as 22p!
|Largely ignored this morning - a few waking up to the possibilities|
|Moving up - Actually 100% from offer - 1.15p was to buy|
|Current Mkt Cap - 2.93mill
Sell CORDe - >> GBP7.85m say even £8-9 million would equate to 4p+ -
No debt -
Downside - Cannot sell therefore will need to raise equity|
|Good luck -
RNS Number : 0905C
Helius Energy Plc
14 January 2015
14(th) January 2015
Helius Energy plc
("Helius" or the "Company")
Update & change of registered office
Further to the RNS announcing the strategic review on 16(th) September 2014 and the RNS announcing the restructuring and cost-reduction programme on the 4(th) November 2014, the Company provides the following update on progress.
The CoRDe project continues to perform well and is operating in line with expectations. During the period October to December 2014 the plant exported 14,301 MWh of electricity and processed 133,000 tonnes of distillery residues.
The Company originally invested c.GBP7.85m in the project on financial close in April 2011 and continues to hold its 50% plus one share stake. The plant's strong operational performance since the start of the financial year is expected to lead to total project revenues for the three month period to December 2014 of c.GBP3.65m, EBITDA of c.GBP1.61m and profit before tax of c.GBP0.41m. The outlook for project revenues is robust, with c.30% per cent derived from fixed gate fees, c.34% per cent from sale of ROCs and c.20% per cent from sale of electricity (with a large proportion of this supported by a floor price in the Power Purchase Agreement). The balance of income is derived from other revenue streams, including the sale of syrup into the animal feed market and fees from the operation of the Effluent Treatment Plant.
The Company continues to endeavour to secure funding for its Avonmouth project and is in early discussions with a new potential funder. No material third party cost commitments will be made to the project unless and until there is a clear pathway to funding. The Company expects to be in a position to provide a further update in respect of the funding of the project before the end of March 2015.
The Company's cost reduction programme has so far resulted in annualised savings in excess of GBP1m as a result of, amongst other things, the surrender of the head office lease, details of which are in the relevant section below, a reduction in staff numbers and a reduction in other overheads.
Revised operating costs (excluding any project specific costs) are expected to be c.GBP0.84m per annum, before annual income from management service agreements of c.GBP0.22m. The Board continues to review opportunities to further reduce costs and will work with CoRDe in respect of the timing of the first cash dividend to be paid by the CoRDe project to its shareholders, including the Company.
While continuing to focus on the performance of the CoRDe project and to seek an investor or acquirer for the Avononmouth project, the Board is also considering other options to secure value for shareholders. These options include the potential sale of all or part of its interest in the CoRDe project, for which it would target a valuation substantially in excess of that which it invested prior to construction.
The Board will also continue to consider other opportunities for maximising value for shareholders and is accordingly undertaking a careful evaluation of the Company's business plan, operational assets, development strategy, market valuation and capital structure.
It remains the case that, in the event the Company is unable to secure financing for the Avonmouth Project, generate value from CoRDe or its other assets, or to secure a dividend from CoRDe by March 2015, it is likely that the Company will need to raise additional financing.
Change of registered office
As part of the Company's ongoing cost reduction programme, undertaken pursuant to its strategic review announced on 16 September 2014, the Company has agreed to surrender the lease of its head office at 242 Marylebone Road, London. As a result, with effect from 14(th) January 2015, the Company's registered office will be:
Europarc Innovation Centre
Grimsby DN37 9TT
John Seed, Executive Chairman commented "We have made good progress with the cost reduction programme announced in November, have delivered robust performance from the CoRDe plant during the period October to December 2014, and continue to work towards finalising funding and commencing construction of our Avonmouth project. However, there can be no assurance that the Company's efforts will be successful or that this process will result in any transaction or change in status. The Company is therefore carefully evaluating its options to ensure that it maximises shareholder value. The Helius CoRDe plant's successful operation and the on-going efforts to secure funding for the Avonmouth Project will be unaffected by this review process."
For more information please contact:
Helius Energy plc Tel: +44 (0) 20 7723 6272
John M. Seed, Executive Chairman
William J. Ingram Hill, Chief Operating Officer
Alan Lyons, Chief Financial Officer
Numis Securities Ltd Tel: +44 (0) 20 7260 1000
Jamie Lillywhite (as Nominated Adviser)
James Black (as Corporate Broker)
Citigate Drewe Rogerson Tel: +44 (0) 20 7282 2867
This information is provided by RNS
The company news service from the London Stock Exchange