Wasabi Energy Share Discussion Threads

[moreforus] 28/11/2013 07:29

Price unchanged on ASX....

Aim trading at a discount to ASX....


Code Last % Chg Bid Offer Open High Low Vol
WAS 0.004 0% 0.004 0.005 0.004 0.004 0.004 15,761,795
(Status - CE)

[topinfo] 27/11/2013 21:46

How will WAS get a 0.24p rights issue away now?

Anyone have any views on this. They are effectively asking you to double your stake in the company on a one for one rights issue at a price that is higher than current share price and you can sell for even less than the rights issue given the bid price is 0.22p. How are you benefiting from this given there will be twice as many shares in circulation too?

How will they get support for this, please tell me anyone who thinks otherwise?

[reverendglutton] 27/11/2013 16:18

Hold on...a share price collapsing out of control....and Induna inevitably a shareholder in that stock talking nonsense....no...everything is normal lol...

Tell us all what your next 'hot pick' is so we can go shorting...

[induna123] 27/11/2013 14:10

They give the jam tomorrow stuff of $120 million NPV per annum to sweeten the bitter placing pill. There's no disguising the fact that this stock has been a disaster for anybody invested in it. From 3p to 0.22p

[freddie01] 27/11/2013 14:05

Thanks for that post firefox6.

[firefox6] 27/11/2013 13:40

Wasabi Energy chairman: Rights issue required to realise potential
By Jamie Nimmo November 27 2013, 1:23pm Wasabi is hoping to raise £8.7mln through the rights issueWasabi is hoping to raise £8.7mln through the rights issue
Wasabi Energy's (LON:WAS, ASX:WAS) chairman John Byrne insists the discounted rights issue was necessary and will ensure the power specialist fulfils its potential.
The company, whose Kalina Cycle technologyturns excess heat back into power, outlined plans to raise up to £8.7mln at 0.4 cents per share (0.225p), sparking a 20% fall from the share price, which now stands at 0.227p.
The rights issue will be offered to shareholders on the basis of one new ordinary share for every one ordinary share held.
Only investors based in Australia, New Zealand, Switzerland and the UK can take part in the offer.
The funds will be used to complete the purchase of the Tuzla geothermal power project in Turkey, redeem the secured debt and for working capital.
"The market's known we've been unfunded for a while and we wanted to put an end to it," chairman Byrne told Proactive Investors.
"So rather than do a little one, we've said we're going forward full-on, one-for-one, all shareholders."
As a major shareholder – he owns 11.1% of the company's issued share capital – Byrne says he understands the pain felt by shareholders on the receiving end of the discount.
"I'm up there, I've bought more than anybody. I'll be taking up my entitlement and I think some of our biggest shareholders will as well."
Byrne reckons it will be the last time it comes to the market for funding. Once the company becomes cash generative as its power plants come online, it will fund itself.
"I think this gets us through," he continues. "We've tried to put it off in the hope that we'd get the other things done, but that has not occurred.
"Everyone's an expert in hindsight. I was obviously holding off to do it higher and what's happened is that it's gone the other way. That's my responsibility, but I've got to say I'll be taking up my interests."
He adds: "We need to be in a strong financial position and grow from here and that's the plan."
Wasabi has an option to acquire up to 50% of the Turkish company which owns Tuzla.
A recent financial draft of plans at Tuzla showed an indicative net present value (NPV) of A$142 million, an internal rate of return (IRR) of 57% and EBITDA (underlying earnings) of A$19.6mln.
The potential of the Asian business, which is gearing up for an IPO, is thought to be even greater as demand for power soars in China.
Management hopes the funds raised from the rights issue will help it deliver its goal of having 25MW of power generation under its watch by the end of 2015 and growing this by 25MW a year thereafter.
"If we achieve this growth, every 25MWe of owned power generation (assuming 10c per kwh feed in tariff and 8% discount rate) represents an estimated increase of approximately $120 million NPV per annum," Byrne explains.

[firefox6] 27/11/2013 13:40

Wasabi Energy chairman: Rights issue required to realise potential

[newkid] 27/11/2013 11:20

A recent financial draft of plans at Tuzla showed an indicative net present value (NPV) of A$142 million, an internal rate of return (IRR) of 57% and EBITDA (underlying earnings) of A$19.6mln. If I am reading this right we will get far more then we are giving. Is this correct.

[aughton 3] 27/11/2013 08:14

stinks sellers in OZ for weeks then this, seems a very very leaky stock

[induna123] 27/11/2013 08:06

£8.7m sounds like an impressive amount but they'll only have £850k left for working capital purposes. The rest is to repay debt. Plus it's 50% dilution. Yuk.

[liam wilson] 27/11/2013 07:56

NO CHANCE this is good news buy on dips

Wasabi Energy to generate £8.7mln in rights issue
By Jamie Nimmo November 27 2013, 7:38am Wasabi has an option to acquire up to 50% of the Turkish company which owns the Tuzla geothermal power projectWasabi has an option to acquire up to 50% of the Turkish company which owns the Tuzla geothermal power project
Wasabi Energy (LON:WAS, ASX:WAS) is to raise up to £8.7mln through a rights issue to complete the purchase of the Tuzla geothermal power project in Turkey.
Wasabi, whose Kalina Cycle technology turns excess heat back into power, has an option to acquire up to 50% of the Turkish company which owns Tuzla.
A recent financial draft of plans at Tuzla showed an indicative net present value (NPV) of A$142 million, an internal rate of return (IRR) of 57% and EBITDA (underlying earnings) of A$19.6mln.
The company also said it would spend the funds on redeeming the secured debt and on working capital.
The rights issue will be offered to shareholders on the basis of one new ordinary share for every one ordinary share held at a price of 0.4p each.
Only investors based in Australia, New Zealand, Switzerland and the UK can take part in the offer.
"The offer is designed to place the company in a strong financial position to deliver on its objective of becoming a high margin independent power producer, leveraging off its ownership of the Kalina Cycle," said chairman John Byrne.
"The company is focused on delivering our objective of 25 MWe of owned power generation under construction or in operation by the end of 2015 and targeting a growth rate of 25 MWe per annum thereafter."
He continued: "If we achieve this growth, every 25MWe of owned power generation (assuming 10c per kwh feed in tariff and 8% discount rate) represents an estimated increase of approximately $120 million NPV per annum."

[illuminati1] 27/11/2013 07:56

Now we know why it didn't move...I wondered why anyone would offload 70 million shares at 0.24p few weeks back because it will be heading below right issue price of 0.22p imo.Last undersubscribed right issue price in June was at 0.5p btw...

[induna123] 27/11/2013 07:49

There's no point in denying it, the mm's will tank this to 0.20p.

The RNS is good news for those who are willing to hold long term but short term it's ugly stuff.

[curlly] 27/11/2013 07:47

Divmad
What are you on about

[divmad] 27/11/2013 07:45

Wow, was that ever a pump and dump!

[moreforus] 27/11/2013 07:44

the price in OZ is 0.40-0.50 same as its been for days



ode Last % Chg Bid Offer Open High Low Vol
WAS 0.004 -20% 0.004 0.005 0.005 0.005 0.004 2,824,000

Date Last % Change High Low Vol *
26 Nov 2013 0.005 0% 0.005 0.005 600,000
25 Nov 2013 0.005 0% 0.005 0.005 694,000
22 Nov 2013 0.005 0% 0.005 0.005 1,000,011
21 Nov 2013 0.005 0% 0.005 0.005 2,244,000
20 Nov 2013 0.005 25% 0.005 0.004 5,191,666

[escapetohome] 27/11/2013 07:43

Could this be a bad to less bad situation to profit from illuminati1?

[moreforus] 27/11/2013 07:43

pmsl read the rns

0.40c OR 0.24p

[andyview] 27/11/2013 07:41

I'd agree a rights issue for the right reasons. Plus no dilution if you take up

[illuminati1] 27/11/2013 07:37

4c ~ 0.225pWAS down -20% in oz at new record low at 4c.Not looking good

[curlly] 27/11/2013 07:37

Thanks Liam
Not to bad then.

[nw99] 27/11/2013 07:36

Yes a rights issue the first on aim for some time very good to see