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Rurelec Share Discussion Threads
Showing 3201 to 3224 of 3225 messages
50% owned by rurelec
From last interims ending June 2016,
In Argentina our 50% owned operating entity, Energia del Sur S.A., and its parent company, Patagonia Energy Limited, have outstanding borrowings and interest before impairments of £37.5m due to the Group. The company is operating well at the local level however it has been subject to increases in its working capital requirements which restricted its ability to make repayments of outstanding loans to the UK. Within the last month the working capital requirements in Argentina have begun to ease. The Board is also expecting to appoint a consultant in the near future to help improve our dealings with the Argentine operation.
|Yes. You might have expected a release at a more obvious time for it to be noted as it is no doubt a positive development.|
|Just spotted the end of day announcement from friday 28th October 2016
Indicates they have a financial backer pending asset sales.
Reminder from interims ending June 2016 :
Net asset value per share 7.2 pence
Current price 1.40p|
|just re entered..long and hard|
|Can anyone explain RUR to me does the sterling stake exist
if so who controls it
who else has an interest
will Morris just convert everything into 99% of the equity|
Here is a key reminder on that matter :
10 June 2013
|Why would RUR bother paying money to IPSA/? Do you think IPSA would sue RUR if they didn't?|
|There are some complex shareholder structures to resolve, esp re Sterling|
|Ok -thanks. Will check it out.|
|meijiman, it's related to the history behind Peter Earl ex-CEO Rurelec,
now at the helm of IPSA (the quotes in #319 are from IPSA rns).|
|Don't understand your last two posts. Does this refer to an earlier RNS?|
|2 weeks to go to see if Peter is in the game
Net Asset Value per share 6.8p|
If there is any tie with IPSA recall "Furthermore it would need, under the terms of AIM Rule 15, to conclude a reverse takeover by 29 August 2016 to avoid its shares being suspended at that point if its shares had resumed trading prior to this date."
Given IPSA is not yet trading then recall "15 September 2016 for the Company to retain its AIM quotation"|
|More sells than buys share goes up can anyone explain please|
|After hours announcement (17:34) of good news, delivered in low key manner
12 month extension on short term loan to June 2017
|Re: Sterling Trust
Observe 15 Dec 2015 Statement of administrator's proposal
See section 3.2, Sterling with two key investments (ignoring Strat Nat Res)
Book value £34.9m, estimated amount to recover £15.85m
Gives some clues that rurelec should be trading multiples higher
than current share price imo (no advice intended)|
|RNS Number : 1272V
13 April 2016
13 April 2016
("Rurelec" or the "Company")
Increase in Short Term Loan Facility and Trading Update
The Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, are pleased to announce that the Company has increased the existing short term loan facility of GBP850,000 (the "Initial Facility") with Bridge Properties (Arena Central) Limited ("BPAC") by an amount of GBP350,000 (the "Increased Facility"). The Increased Facility is now GBP1,200,000. As announced on 18 February 2016 GBP850,000 was drawn down on that date, today the Company has drawn down an additional GBP150,000. The terms and conditions are as per the Initial Facility. The proceeds are to be utilised for working capital for the Company and its operations in Chile and Peru.
The Loan is intended to allow the Board time to source further long term funding. There can be no guarantee that long term funding will be available to the Company. Notwithstanding the Increased Facility, the Company's cash position continues to be extremely tight.
The Directors are exploring how best to arrange for the Company to benefit from the cash generated by the asset in Argentina in which it has a 50 per cent. interest. The Company announces that receipts in the first part of the year from its Argentine joint venture, Energia del Sur S.A. ("EdS"), have been significantly below forecast in 2016. This is largely due to structural changes in the Argentine electricity market, whereby the subsidies from the state are being reduced whilst at the same time prices to the end users are being increased. This has led to cash shortages within the sector as this transition takes place. Whilst the Company expects these changes and Argentina's widely reported exchange controls relaxation will be beneficial to the Company, the short term effect has been that EdS has moved from collecting debt from 45 days of revenue to 90 days of revenue. The plant to date is performing to budget at EBITDA level for 2016 and it is meeting its third party obligations from its own resources. The Company expects cash receipts for the full year to be at a similar level as 2015.|
|Looks like an RIP jobby to me.|
|RNS Number : 3990P
18 February 2016
("Rurelec" or the "Company")
New Short Term Loan Facility and repayment of Extended Facility
The Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, are pleased to announce that the Company has entered into, and fully drawn down, a short term loan facility with Bridge Properties (Arena Central) Limited ("BPAC") for an amount of GBP850,000 (the "Facility"). The repayment date for the Facility is 30 June 2016, with interest being charged at one per cent. per month, simple interest. BPAC is incorporated in the BVI and is wholly owned by Ballaugh Holdings Limited, which is in liquidation. Simon Morris, an Executive Director of Rurelec, is a director of Bridge Properties (Arena Central) Limited.
The proceeds are for working capital and for the repayment of the Radix Investments UK Limited ("Radix") loan and accrued interest, as notified on 30 October 2015. Radix has undertaken to release its debenture over all of Rurelec's assets in favour of BPAC.
The Loan is intended to allow the Board time to source further, long term funding. There can be no guarantee that long term funding will be available to the Company. Notwithstanding the Facility, the Company's cash position continues to be extremely tight. The Directors are exploring how best to arrange for the Company to benefit from the cash generated by the asset in Argentina in which it has a 50 per cent. interest.
For further information please contact:|
|Yeh I was trying to buy no go|
|Can not buy any online|
Or just maybe a few writs have arrived, or he''s heard they maybe on the way,
just how could he go for an Open Offer without our Solicitors obtaining a legal document of support from the major shareholder, and who is going to pay for the Open Offer COSTS? Surely Matt''s ex-employers would have been approached by the Administrators?
|Last weekend I emailed the two guys who are dealing with the Sterling Admin' stuff. Basically asked could they supply any info on the plans they have for Sterling's RUR shares. Still no rsponse. No idea why....either they are unable or /unwilling to say - or maybe just haven't got around to reading email!
I think it would be unfair to put the full details up here. But their names are on the RNS from 20 October. A little bit of lovely serach engine work will do the rest if you are interested in emailing too if you think worth it.|