Econergy Share Discussion Threads

[goldnoil] 31/7/2008 12:34

I hadn't looked at this one in a while. What a shareholder screw job - taken out for a pittance by a private multinational energy conglomerate.

I liked the business plan for this co. but glad I didn't bite.

[bobdouthwaite] 25/6/2008 08:10

Yes, very disappointing.

[gdp2] 25/6/2008 06:13

Dawnday say with financing ECG are worth 120p. Shame. Suez have snapped up a real bargain imo. Have sold reluctantly as I would have profited heavily if ECG had remained on its own imo.

[gdp2] 19/6/2008 08:28

The Substation is also completed, along with the 32 turbines. And I should think they set up the transmission lines as they were putting up the turbines, you can even see some in one of the pictures. Assume testing say takes a max 1 month? Then it would be operational now. I still have the feeling that the bid undervalues ECG. They basically have 4 projects online already but I cant see us getting a better bid unfortunately.

[bobdouthwaite] 19/6/2008 07:43

GDP2 - what about the substation and transmission lines? And the whole system will need testing before it goes into production.

[gdp2] 18/6/2008 19:28

Photos on the Website -


"Construction on all 32 turbines is complete
Uploaded on 15 May 08"

Surely then operational by now and surely worth an announcement?>

[gdp2] 13/6/2008 19:28

Now thats Interesting - anyone looked at who's advising Suez? Dresdner Kleinwort, ex-brokers to ECG who have continually emphasised that ECG were 'absurdly low' in numerous reports. Think the share price could tick up as again Bereberie may come online before the de-listing

[dewi141] 13/6/2008 15:14

hi GDP2

i think youre right that this might be the final offer.
IF TRE were to come back and offer more (say 48p) then that would be a pretty damning inditement of the value of the original offer of 32p - and I would be pretty tempted to take teh Suez offer anyway just out of spite!

cheers

[gdp2] 13/6/2008 14:28

'We consider Econergy to be a perfect fit and complementary to our international energy portfolio,' said Jan Flachet, chief executive of Suez Energy Latin America. 'Econergy has and is developing a series of interesting renewable assets, such as wind and small hydro, in markets where Suez Energy already has a presence or aspires to take positions.'

- Perfect fit. Glad they're recognising ECG's value with a more realistic bid. I feel for you David77. Would expect this bid to be the last and the take-out offer, but still an interesting comment regarding the loan option Suez may offer to ECG.

[david77] 13/6/2008 12:49

Buyers are paying nearly 47p today - they expect a higher offer.

[armand traore] 13/6/2008 12:21

Suez Energy South America makes cash offer for Econergy International UPDATE

(Adds Suez quote)
LONDON (Thomson Financial) - Suez Energy South America (SESA) on Friday made
an all cash offer for Econergy International valuing the company at 39.2 million
pounds, or 45 pence per share.
The offer represents a premium of 43.1 percent above another cash-or-share
bid from Trading Emissions Plc for Econergy in May which valued the renewable
power company at 27 million pounds.
SESA, a subsidiary of Suez SA is also making loan facilities of over $50
million available to Econergy, subject to acceptance of the offer for more than
50 percent of the issued share capital of Econergy.
"We consider Econergy to be a perfect fit and complementary to our
international energy portfolio," said Jan Flachet, chief executive of Suez
Energy Latin America. "Econergy has and is developing a series of interesting
renewable assets, such as wind and small hydro, in markets where Suez Energy
already has a presence or aspires to take positions."

[david77] 13/6/2008 09:37

Wish I knew - but the outcome good be enormous if it all works to plan.

I sold my ECG shares to buy out a June spreadbet - I bought the underlying shares into my share a/c. All my other spreadbets are Dec so I don't need to worry about them for the time being unless they fall further out of bed :-(

[asparks] 13/6/2008 09:23

I sold my corac today - you reckon too soon david?
ITM worth checking out if you like renewables

[david77] 13/6/2008 09:19

I got 31p for most so 14p x 150k (a bit less than that) = £21k - still painful - transferring money from the impatient to the patient :-(

Fortunately, I have loads of Caledon Mining and Corac that have been going great guns recently :-)

[asparks] 13/6/2008 09:11

david - more like 30,000 now. sorry mate

[dewi141] 13/6/2008 08:53

hi

thanks for your reply GDP2 (and others posting info): I still have nto received any info myself so i woudl be completely in the dark apart from this board.
Anwyay, jsut seen that Suez have bid 45p cash!!
whooohhoho.
We might see your 60p yet GDP2

cheers

[david77] 13/6/2008 08:51

That's £20,000 more than I sold for :-(

[asparks] 13/6/2008 08:39

so, will the other bidder return with a higher offer? if so, things could get very interesting.

[david77] 11/6/2008 11:39

I sent this on 20th May:

For the attention of Chelsea Hayes (Pelham PR)

Good morning

My wife and I have over xxxx Econergy shares between us and are disappointed with the current offer for the company.

Is it possible to organise a shareholder meeting in London or a conference call where shareholders could ask questions about the company's finances?

Just how desperate is the situation? Could the company manage by stopping new investments until those under construction start earning? How soon will some of the projects start earning?

I realise that you cannot tell me anything not yet in the public domain. I feel that I understand what Econergy were trying to do but not so sure about trading carbon emissions.

I would appreciate any comments that you are able to make.

Thanks

David S

and received on 6th June - just after I had sold :-(

Apologies for the delay in my response, as you quite rightly point out, I am unable to say anything that is not in the public domain.

I would like to draw your attention to the recent announcements – regarding the posting of the documents, and details of the EGM, along with the statement made by Suez Energy South America. These 2 statements should address your questions.

Kind regards

Chelsea Hayes

My feeling is that Numis are paying more than 30p for ECG shares - why? I reckon that there will be a higher bid before TRE get this on the cheap.

I have some spread-bets - one of those expires soon and I wanted to buy the underlying shares into my shares a/c. I didn't want to sell anything else - and I should have rolled over the June shares but I got fed up with waiting for ECG. We are told that investment is transferring gains from the impatient to the patient - good luck to those continuing to hold.

[gdp2] 10/6/2008 19:58

So post 25th of June the fate of ECG will be known. If, like I said before, no action by Suez is taken before 25th then I will sell.

[gdp2] 10/6/2008 19:57

The scheme is subject to shareholder and court approval at meetings to be held on the 25th June 2008 and if approved the scheme will become effective on the 28th November 2008, with payment to made around 14 days after

[gdp2] 10/6/2008 17:09

Yes it did say November, not sure why so far ahead though.
The fact that Suez has displayed their intentions to perhaps bid for ECG has only re-affirmed my opinion that we are being sold short and I'd take the 33p market price now over a TRE merger as I dont think ECG will be able to impress its great value upon TRE due to its size than it could have as a lone entity. Have also seen numerous other opportunities in the market where I believe my money could be better placed, though not to say TRE will not a strong business with ECG under its control