Share Name Share Symbol Market Type Share ISIN Share Description
Energy Asset Management LSE:EAM London Ordinary Share GB00B06LR386 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.15p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0.50

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Date Time Title Posts
12/8/200915:42Energy Asset Management signs 5-yr gas meter services deal with M&S1,239
02/6/200810:02Gaining momentum39
04/12/200710:22Energy Asset Management8
05/6/200707:40Energy Asset Management26
12/3/200710:51Energy Asset Management53

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fc786: RNS Number : 0776U Energy Asset Management PLC 17 June 2009 ? FOR IMMEDIATE RELEASE17 June 2009 ENERGY ASSET MANAGEMENT PLC ("EAM" or "the Company") Share Price Movement EAM notes the movement today in the Company's share price, and speculation that the Company has been awarded a contract. EAM would like to take this opportunity to remind shareholders that the Company is classified as an investing company under the AIM Rules as announced on 9 January 2009. As such, it is not a trading company and is not in a position to be awarded contracts of any kind.
sagem: No wonder this share price is going mad.....somebody knows something is going to happen. I think EAM will be involved are are involved ;- 45 million smart meters on the way Tom McGhie, Financial Mail 3 May 2009 Reader comments (9) After months of dithering, the Government is poised to give the go-ahead for the installation of smart meters in every home and business - 45m in total. From next year and during the following ten years, energy companies will replace existing gas and electricity meters with smart meters that can tell homeowners how much energy they are using at any time. The £7bn smart meter revolution is a vital weapon in the Government's battle to cut energy consumption. Trials have shown that householders reduce their consumption by about 10% - an average of £10 a month - where smart meters are installed. This is because they can see how much energy is wasted, for example by leaving lights on or keeping TVs on stand-by. Smart meters will also finally put an end to the scandal of incorrect billing. No longer will energy suppliers be able to force customers to pay huge bills based on incorrect energy estimates. The Government will also announce a multi-billion pound contract to create a centralised communication system to gather the data from the smart meters and distribute it to each home's energy supplier. Energy Minister Mike O'Brien said: 'Smart meters will help consumers save energy and money and cut emissions. We've said we want smart meters in every home in the UK by the end of 2020. 'We will be the first country in the world to have such a huge refurbishment of our energy meters and we need to get it right. That includes making sure we have meters that can do all the things we want them to.' It will be the responsibility of the energy companies to offer householders a choice of meter. They vary in sophistication, with some capable of pinpointing parts of the house where energy is being used. It is understood that the Government has insisted that every meter should be capable of handling micro-generation data so that households which generate their own energy via solar panels or wind turbines will be able to sell the surplus back to the National Grid. Smart meters will also enable suppliers to moderate peak demand through differential pricing throughout the day.
trghe1: Fellas for goodness sake avoid any of 8traders recommendations. He's a complete ningkompoop. He probably holds a few shares in this company which is why he's ramping it. My advice too is invest in volatile shares such as ACER (Batty is not so wrong about that one by the way. I have recommended it myself) with low market caps. Volatility not debt is the important thing. Those who invest early before a rise in the share price will obviously benefit.
sagem: I note that on the day the Trading Statement was announced the buys were 1,157,763 shares against sells 1,762,082 shown by ADVFN trading. Perhaps on Monday we might see an increase in the share price as it does not appear that investors were NOT too dissapointed. the company appears to have huge potential and they are in the right place. ANY VIEWS ON THIS
short termism: For immediate release: 28 June 2007 ENERGY ASSET MANAGEMENT PLC (the "Company") Preliminary announcement for the year ended 31 December 2006 Chairman's Statement Following the acquisition of Energy Assets Limited, a provider of meter asset management services, in March 2006 the Group has spent a significant amount of time and money implementing its infrastructure in order to service its clients. I am very pleased to be in a position to report to you that the investment and hard work is now reaping the rewards, which we have been working towards, with the signing of agreements with major leading clients including energy suppliers and retailers. The Group has obtained the necessary regulatory and other approvals which have enabled it to implement and operate its metering solution and information technology system which is geared towards energy suppliers and end user customers to, among other things, collect `real time half hourly energy consumption data' more efficiently for industrial and commercial users of gas and electricity. As product trials continue with major retail groups, local authorities and energy suppliers we anticipate being able to announce further contract wins in the near future. This will provide secured sources of future income for contract periods extending from 5 to 10 years. Historic Results 2006 was a year spent establishing the business infrastructure both operationally and corporately and accordingly in the year to 31 December 2006 the Group made a loss after taxation of £2,782,270 (1.35p loss per share) after writing off £1,734,544 of goodwill and amortising the cost of the share option scheme, compared to a loss after taxation of £24,886 (0.12p loss per share) for the period to 31 December 2005. Current year activity We have been successful in winning and negotiating contracts at a greater rate than previously anticipated and this trend is expected to continue for the foreseeable future. However, installation and replacement of meters, dataloggers and siteworks have in the year to date been at a slower rate than had been expected. We believe that in the second half of the year the installation rate will be increased as both customers and energy suppliers begin to obtain the benefits from the environmentally friendly solutions we are able to offer, but do not expect to see the full benefit of the contract wins until 2008. As a result financial performance in 2007 will be below expectations. Customers also continue to purchase meters and dataloggers for their own account rather than renting and as a result our requirement to provide asset finance has materially reduced and this will assist to increase earnings over time. We have traded at a loss in the year to date but expect to be trading profitably in the second half of the year and to this end we expect to be cash flow positive in the last quarter. However in order to finance the anticipated higher level of activity, including the infrastructure to support it, the Company issued, on 26 March 2007, 32,000,000 new shares to raise £400,000. Lance O'Neill Lance O'Neill who has acted as a Non- Executive Director since the formation of the Company will retire at the end of the Annual General Meeting. His advice and support has been gratefully received and appreciated. Future prospects Your Group is now established in securing contracts and is revenue generating at an increasing rate in a market sector which we believe has strong growth prospects given the growing awareness and the government pressures to conserve energy and use it more effectively. This can only be good for our future prospects. While we have an excellent story to tell it may take another twelve months to demonstrate this. We look forward to reporting further significant progress to you as it occurs. Stephen Barclay Non-Executive Chairman Consolidated income statement- by function of expense for the year ended 31 December 2006 Year ended Period ended 31 December 31 December 2006 2005 £ £ Revenue 20,768 - Cost of sales (10,664) - _______ Gross Profit 10,104 - Operating expenses (2,811,165) (33,543) _________ Operating loss (2,801,061) (33,543) Finance income 18,791 8,657 _________ Loss before taxation (2,782,270) (24,886) Taxation - - _________ Loss after taxation (2,782,270 (24,886) ) _________ _______ Retained loss for the period (2,782,270) (24,886) Attributable to Equity holders of the Company (2,774,375) (24,886) Minority interest (7,895) - _____________ Retained loss for the period (2,782,270) (24,886) ____ __ Loss per share- basic and (1.35) p (0.12) p diluted Consolidated balance sheet at 31 December 2006 31 December 31 December 31 December 31 December 2006 2006 2005 2005 £ £ £ £ Assets Non current assets Property, plant and 20,405 - equipment Intangible assets 745,475 - -Goodwill ----------- Total non current assets 765,880 - Current assets Trade and other 53,335 4,431 receivables Cash and cash equivalents 249,095 312,378 Inventories 9,360 - Total current assets 311,790 316,809 Total Assets 1,077,670 316,809 Equity and liabilities attributable to equity holders of the Company Share capital and reserves Issued capital 2,467,684 219,351 Share premium account 1,083,929 107,185 - Retained earnings (2,580,880) (24,886) 970,733 301,650 Minority interest (7,445) - _______ _______ Total equity 963,288 301,650 Current liabilities Trade and other payables 114,382 15,159 Total equity and 1,077,670 316,809 liabilities Statement of changes in equity Group Share Share Retained Minority Total Capital Premium Earnings Interest Equity £ £ £ £ £ Balance at 1 January 2006 219,351 107,185 (24,886) - 301,650 Loss for year attributable - - (2,774,375) - (2,774,375) to equity holders - Loss for year attributable - - - (7,895) (7,895) to minority interest Equity attributable to - - - 450 450 minority interest Share based costs - - 218,381 - 218,381 Acquisition of Energy 1,415,000 707,500 - - 2,122,500 Assets Ltd on 9 March 2006 Additional issues on 9 833,333 416,667 - - 1,250,000 March 2006 Share issue costs - (147,423) - - (147,423) Balance at 31 December 2,467,684 1,083,929 (2,580,880) (7,445) 963,288 2006 (24,886) Balance at 31 December 2005 Consolidated cash flow statement for the year ended 31 December 2006 Year ended Period ended 31 December 31 December 2006 2005 £ £ Cash flows from operating activities Operating loss for the year as (2,801,061) (33,543) per income statement Depreciation of non current 33,175 - assets Impairment of goodwill 1,734,544 - Share based reserve 218,381 - (814,961) (33,543) Movements in working capital Increase in trade and other (37,045) (4,431) receivables Increase in inventories (9,360) - Decrease in trade and other (13,868) 15,159 payables Net cash generated from (875,234) (22,815) operations Cash flows from investing activities Interest received 18,791 8,657 Net purchase of subsidiary (260,190) - undertaking Cash acquired with subsidiary 4,353 - Purchase of non current assets (53,580) - Net cash expenditure from (290,626) 8,657 investing activities 657 Cash flows from financing activities Net proceeds from issue of 1,102,577 326,536 equity shares Net (decrease)/ increase in cash (63,283) 312,378 and cash equivalents Cash and cash equivalents at the 312,378 _ beginning of financial period Cash and cash equivalents at end 249,095 312,378 of period Notes on the Preliminary Results 1. The financial information incorporated in this announcement does not constitute full statutory accounts within the meaning of the Companies Act 1985. Full accounts for the year ended 31 December 2006, will be filed with the Registrar of Companies in due course. 2. Key accounting policies Adoption of new and revised standards In the current year, the Group has adopted the International Financial Reporting Standards (IFRS) as approved by the European Union and the International Financial Reporting Interpretations Committee (the IFRIC) that is relevant to its operations and effective for listed companies' annual reporting periods beginning on 1 January 2006.The Group has decided to adopt these Standards earlier than required. The adoption of these new and revised Standards and Interpretations has not resulted in changes to the Group's accounting policies and has not resulted in any change to prior period reported numbers. Basis of preparation The financial statements have been prepared in accordance with International Financial Reporting Standards, as approved by the European Union, IFRIC interpretations and the Companies Act 1985. The financial statements have been prepared using the historical cost convention. The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions which are based on management's best judgement at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change. Where necessary, the comparatives have been reclassified or extended from the previously reported results to take into account presentational changes. It is the first financial year that Energy Asset Management Plc has presented its financial statements under IFRS. The Group's comparative information presented for the year ended 31 December 2005 was initially prepared under United Kingdom generally accepted accounting principles (UK GAAP) and has now been presented in accordance with IFRS. The date of transition to IFRS was 1 July 2006. There is no difference between the loss, equity or cash flows as previously reported under UK GAAP and those reported in accordance with IFRS. At the date of authorisation of the financial statements, International Financial Reporting Standards 7-8 and Interpretations IFRIC 8 to 10 were in issue but not yet effective. The Directors expect that with the exception of the additional financial information required by IFRS 7, Financial Instruments: Disclosures, that the adoption of these Standards and Interpretations in future periods will not have any significant impact on the financial statements of the Group. Basis of consolidation The financial statements of the Company and its Group undertakings have been consolidated to 31 December 2006. The results and cash flows of subsidiary undertakings are included in the profit and loss account and consolidated cash flow statement from the date of acquisition. The Company has taken advantage of the exemption in Section 230 of the Companies Act 1985 not to present its individual financial statements and related notes that form a part of these approved financial statements. 3. Tax on loss on ordinary activities Tax charge for the year No taxation arises on the result for the year because of the trading loss. Factors affecting the tax charge for the year The tax charge for the year does not equate to the loss for the period at the standard rate of UK small companies corporation tax of 19%. The differences are explained below: Year ended 10 months ended 31 December 31 December 2006 2005 £ £ Loss for the year before taxation (2,782,270) (24,886) Loss for the year before tax multiplied by the (528,631) (4,728) applicable rate of UK small companies corporation tax of 19% Depreciation in excess of capital allowances 3,758 - Expenses not deductible for tax 339,490 352 Tax losses for the year not relieved 185,383 4,376 - - Factors affecting the tax charge of future years Tax losses available to be carried forward by the Group at 31 December 2006 against future profits are estimated at £304,397. There is an unprovided deferred tax asset based on these losses of £57,836. Due to the Group being in its first year of trading it is difficult to determine with certainty how and when the available tax losses will be utilised. Therefore, the element of the potential deferred tax asset relating to losses has not been recognised in the financial information. 4. Loss per Share The calculation of basic loss per share is based on the loss attributable to equity holders of £2,774,375 (December 2005 - loss £24,886) divided by the weighted average number of ordinary shares in issue being 205,497,607 (December 2005: 20,581,735) during the year. As the Company has incurred a loss for the year, no option or warrant is potentially dilutive, and hence basic and diluted loss per share are the same. The options and warrants as disclosed in note 7 could potentially dilute basic earnings per share in the future 32,000,000 new ordinary shares were issued after the year end. If these shares had been issued prior to 31 December 2006, this would have altered the weighted average number of ordinary shares in issue as calculated above. 5. Intangible Assets 31 December 31 December 2006 2005 £ £ Goodwill on purchase of Energy Assets Limited on 9 March 2006 Addition during the year 2,480,019 - Impairment (1,734,544) - Total goodwill 745,475 - Impairment test for goodwill The goodwill is attributable to the Group's single cash generating unit (CGU), being the principal activity of meter asset management services. The recoverable amount of the CGU has been determined based on value in use calculations. The calculation was based on cash flow projections, approved by management, covering a two year period. The impairment charge arose because particular underlying elements of the goodwill were considered to be incapable of future use or exploitation. These included certain contracts owned by the acquired group and existing relationships with fund providers. 6. Share capital 31 December 31 December 2006 2005 £ £ Authorised 500,000,000 Ordinary shares of 1p each 5,000,000 5,000,000 Allotted, issued and fully paid 246,768,383 Ordinary shares of 1p each 2,467,684 219,351 On 9 March 2006 the Company acquired Energy Assets Limited, for a consideration of £2,122,500 payable by the issue of 141,500,000 new ordinary shares of the Company. On that date the Company also raised £1,250,000 before expenses by a placing of 83,333,333 new ordinary shares of the Company at 1.5p each. As part of the acquisition 29,057,500 performance related options to subscribe for new ordinary shares of the Company were issued to Directors and senior executives of Energy Assets Limited as set out in the Directors' Report. During the year a further 4,500,000 options to subscribe for new ordinary shares of the Company were granted to other Group staff on the same performance conditions as the Directors. These are set out in the Directors' Report. Additionally, as part of the acquisition transactions, warrants to subscribe for 12,403,051 new ordinary shares of the Company with an exercise price of 1.5p were issued on 13 March 2006 to parties connected with the raising of finance for the Company as follows: Exercisable Ruegg & Co Limited 2,000,000 1.5p from 13 March 2007 to 13 March 2011 Hichens Harrison & 3,000,000 1.5p from 13 March 2007 to 13 March 2009 Co Plc ICON EAM LLC 7,403,051 1.5p up to 13 March 2011 12,403,051 On 30 March 2005 the Company issued 2,000,000 founder warrants which entitle the holder to subscribe for one new ordinary share at 1p per share at any time until 30 March 2010. 500,000 founder warrants were issued to each of Stephen Barclay, John Shaw, Lance O'Neill and Chatsford Corporate Finance Limited. On 31 March 2007, Chatsford Corporate Finance Limited transferred 100,000 warrants to each of Stephen Barclay, John Shaw and Martin Perrin and 200,000 warrants to another unconnected party. At 31 December 2006 none of these founder warrants had been exercised, nor have been at the date of this announcement. The total number of founder and transaction warrants outstanding as at the date of this report is 14,403,051. There is no overall controlling party. 7. Share Options and warrant movements No options or warrants were forfeited, exercised or expired in the year. The total number of options and warrants granted during the year, of 33,557,500 and 14,403,051 respectively, have given rise to a charge to the profit and loss account of £218,381, based on the fair values at the time the options and warrants were granted. The weighted average fair value of the share options and warrants determined using the Black Scholes valuation model was 1.0p. The significant inputs into the model were exercise price, volatility of 65%, a nil dividend yield, weighted average expected option life of 4 years and annual risk free interest rate of 4.9%. The volatility measured at the standard deviation of continuously compounded share returns is based on statistical analysis of the monthly share price over a 14 month period. 8. Business Combinations On 9 March 2006 the Company acquired 100% of the issued share capital of Energy Assets Limited, the acquired business contributed £660,341 of losses to the group for the period 9 March 2006 to 31 December 2006. Details of net assets acquired and goodwill are as follows £ Purchase consideration: Fair value of share issue 141,500,000 new ordinary shares 2,122,500 at 1.5p each Direct costs relating to the acquisition 260,190 Total purchase consideration 2,382,690 Fair value of net liabilities acquired 97,329 Goodwill (note 5) 2,480,019 The goodwill is attributable to the management, contracts in place, IT software, accreditations and funding ability of the acquired business along with its future earnings potential. The assets and liabilities as at 9 March 2006 arising from the acquisition are as follows: Cash and cash equivalents 4,353 Trade and other receivables 11,409 Trade and other payables (113,091) Net liabilities acquired (97,329) Purchase consideration settled in cash 260,190 Cash and cash equivalents in subsidiary acquired (4,353) Cash outflow on acquisition 255,837 9. Post balance sheet events On 26 March 2007 the Company issued a total of 32,000,000 new ordinary shares at 1.25p per new ordinary share to raise gross proceeds of £400,000. The new ordinary shares rank pari passu with all existing ordinary shares. 10. Registered Office and copies of Accounts The Registered Office of the Company is St James's Court, Brown Street, Manchester M2 2JF. Copies of the Annual Report and Accounts, which have today been mailed to shareholders along with the Notice of AGM, may be obtained at this address or at the Company's website Notice is hereby given that the Annual General Meeting of Energy Asset Management Plc will be held at 1 Park Place, Canary Wharf, London E14 4HJ on 23 July 2007 at 11.00 am. Enquiries: Energy Asset Management Plc Stephen Barclay, Chairman Tel: 07767 444114 Alan McKeating, Managing Director Tel: 07843 231372 Hansard Group, Public Relations Ben Simons Tel: 0207 245 1100 Ruegg & Co Limited, Nominated Adviser Brett Miller/Gavin Burnell Tel: 0207 584 3663
theblackswan: EAM in my eyes, seems very simliar to another company i invested in 6 years ago. That company was GFM i bought 10000 shares @ 6p, share price today £1.12. That simliarity was, right product right time. With the recent news that was witten in the shares mag, i feel very confident that EAM can be possibly be as good, or if not better than GFM No advice intended DYOR.
hopeless698: I really wish people wouldn't mention new contracts! It dosnt help anybody. Just be patient!. Its a new company and it will take a little while before profits come and before the company can stand on its own two feet. Thats when the share price will move.
vig009: alan, I think 1.5-2.2 for a few months - until they release a Finance report, this will indicate to the WHOLE market the revenue, and from that the Share Price will be determined for Future....simple. I personally feel that 10 conracts will bring "Good" revenue to boost the share price to around 5-6p, have to be realistic, but this is a 8-9 Month plan. DYOR V
itsinthebag: It looks like the 1.25p was a good deal in the end. From: "Alan McKeating" Subject: EAM Share Placing Date: Sun, 1 Apr 2007 00:44:33 +0100 To: X Dear Sir The recently announced placing had in fact been agreed at a board meeting several months back when indeed the share price had been hovering just below the 0.06p mark, and had been for several months. The directors believe that their commitment to subscribe at more than double recent share prices should reinforce a professional commitment to the future of the business. The fact that all of the directors subscribed should offer some ongoing comfort. Regards Alan McKeating
otherworld: I wouldn't PM, the effects of that news are already in the share price, no one is buying, and why don't you ramp elsewhere? Keep your profits here in EAM, if we can maintain anything like the current rate of contract acquisition then you will be very happy very quickly and will be enjoying some lovely compund interest.
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