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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Enhanced System | LSE:ESTL | London | Ordinary Share | AU000000ESY7 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMWAS
RNS Number : 8148R
Wasabi Energy Limited
31 October 2013
31 October 2013
Wasabi Energy Limited
("Wasabi," "the Group" or "the Company")
Please find below the Wasabi Energy (ASX: WAS, AIM: WAS, OTCQX: WSBLY) Appendix 4C cash flow statement for the 3 months ended 30 September 2013.
Wasabi is an independent power producer utilising its proprietary Kalina Cycle(R) technology to generate electricity from heat from industrial and renewable sources.
As announced on 17 October 2013, the Company has completed a pre-feasibility study (PFS) on the Tuzla Geothermal Power Project (TGPP).
The key findings from the PFS are:
-- The PFS validates Imparator Enerji's plans for large-scale (30 MWe) expansion of the TGPP.
-- Detailed financial modeling of a 30 MWe Kalina Cycle(R) conceptual development at the TGPP, with
indicative NPV of $142 million and indicative IRR of 57%, providing strong investment case.
-- Expansion project underpinned by updated resource estimate indicating the most-likely (P50) size of the
TGPP geothermal resource is potentially greater than 80 MWe, confirming findings of past studies.
Further, during the quarter Wasabi New Energy Asia (WNEA), a 66.7% owned subsidiary of the Company, paid the next instalment of RMB18 million (US$2.85m) for the purchase of Shanghai Shenghe New Energy Resources Science and Technology Limited (SSNE).
As announced in November 2012, Wasabi granted an option for vendors of Newmont (SSNE holding company) to take 31.25% of their WNEA share consideration in Wasabi shares at A1.8c per share (WNEA Option). The vendors exercised this option and as a result the vendors were issued 288,001,844 new Wasabi shares at A1.8c per share on 13 August 2013.
Following the exercise of the WNEA Option, Wasabi owns 40 million shares (66.67%) in the issued share capital in WNEA. In addition, Wasabi has provided loan funds of $5.6m to WNEA in order to facilitate a proportion of the SSNE purchase payments. This loan will be converted into additional shares in WNEA at the time of the IPO at US50c per share.
During the quarter the Company placed the shortfall from the Rights Issue completed in June 2013 which raised an additional $2 million.
John Byrne, Chairman of Wasabi Energy commented, "The Wasabi Energy Group continues to progress in its strategic objective of having 25 MWe of power production directly attributable to Wasabi either under construction or in operation by 2015 and maintain that growth rate each year thereafter. We are progressing well with the commissioning of the Kalina Cycle(R) power plants at DG Khan in Pakistan and Star Cement in United Arab Emirates and the finalisation of the option exercise for the Tuzla Geothermal Power Project."
For further information, please contact:
Wasabi Energy Limited John Byrne, Executive Chairman +61 (0)3 9663 7132 Diane Bettess, COO Cenkos Securities - London Financial Advisor, Broker & NOMAD Ivonne Cantu / Neil McDonald +44 (0)207 397 8900 Newgate Threadneedle - UK Media Enquiries Josh Royston/ Hilary Millar +44 (0)207 653 9850
Appendix 4C
Quarterly report
for entities admitted
on the basis of commitments
Hot Features
Premium
Name of entity
WASABI ENERGY LIMITED
----------------------
ABN Quarter ended ("current
quarter")
24 000 090 997 30 September 2013
--------------- -----------------------
Consolidated statement of cash flows
Current quarter Year to date
Cash flows related to operating (3 months)
activities
$A'000 $A'000
---------------- -------------
1.1 Receipts from customers 367 367
Payments for (a) staff costs (792) (792)
(b) advertising and marketing - -
(c) research and development - -
(d) leased assets - -
1.2 (e) other working capital (1253) (1253)
1.3 Dividends received - -
Interest and other items of
1.4 a similar nature received 1 1
Interest and other costs of
1.5 finance paid (144) (144)
1.6 Income taxes paid - -
1.7 Other - -
Net operating cash flows (1821) (1821)
---- ------------------------------- ---------------- -------------
Current quarter Year to date
$A'000 (3 months)
$A'000
----- -------------------------------------------------------------- ---------------- -------------
Net operating cash flows
1.8 (carried forward) (1821) (1821)
----- -------------------------------------------------------------- ---------------- -------------
Cash flows related to investing
activities
1.9 Payment for acquisition of:
(a) businesses (item 5) payment
to acquire new subsidiary (3133) (3133)
(b) equity investments - -
(c) Project Development - -
(d) Physical non-current
assets (3) (3)
(e) Other non-current assets (2632) (2632)
(39) (39)
1.10 Proceeds from disposal of:
(a) businesses (item 5) - -
(b) equity investments - -
(c) intellectual property - -
(d) physical non-current - -
assets - -
(e) other non-current assets
1.11 Loans to other entities (36) (36)
1.12 Loans repaid by other entities - -
1.13 Cash on acquisition of subsidiary 103 103
Net investing cash flows (3108) (3108)
---------------- -------------
Total operating and investing
1.14 cash flows (4929) (4929)
----- -------------------------------------------------------------- ---------------- -------------
Cash flows related to financing
activities
1.15 Proceeds from issues of shares, 2039 2039
options, etc.
1.16 Proceeds from sale of forfeited - -
shares
1.17 Proceeds from borrowings 3282 3282
1.18 Repayment of borrowings (546) (546)
1.19 Dividends paid - -
1.20 Other (capital raising cost) (16) (16)
---------------- -------------
Net financing cash flows 4759 4759
----- -------------------------------------------------------------- -------------
Net increase (decrease) in
cash held (170) (170)
Cash at beginning of quarter/year
1.21 to date 222 222
1.22 Exchange rate adjustments - -
to item 1.20
---------------- -------------
1.23 Cash at end of quarter 52 52
----- -------------------------------------------------------------- ---------------- -------------
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
Current quarter
$A'000
----------------
Aggregate amount of payments to the parties
1.24 included in item 1.2 233
----------------
1.25 Aggregate amount of loans to the parties 36
included in item 1.11
-------- -------------------------------------------------- ----------------
1.26 Explanation necessary for an understanding of the transactions
1.24 Directors' consulting and salaries paid on normal
commercial terms.
1.11 relates to advances made to AAP Carbon, an associate
of the Company
-----------------------------------------------------------------------------
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which
have had a material effect on consolidated assets and
liabilities but did not involve cash flows
-
-------------------------------------------------------
2.2 Details of outlays made by other entities to establish
or increase their share in businesses in which the reporting
entity has an interest
-
--------------------------------------------------------------
Financing facilities available
Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).
Amount available Amount used
$A'000 $A'000
3.1 Loan facilities 1500 200
----------------- ------------
3.2 Credit standby arrangements - -
---- ---------------------------- ----------------- ------------
Reconciliation of cash
Reconciliation of cash at the Current quarter Previous quarter
end of the quarter (as shown $A'000 $A'000
in the consolidated statement
of cash flows) to the related
items in the accounts is as follows.
---------------------------------------- ---------------- -----------------
4.1 Cash on hand and at bank 69 222
---------------- -----------------
4.2 Deposits at call - -
---------------- -----------------
4.3 Bank overdraft 17 -
---------------- -----------------
4.4 Other - -
---------------- -----------------
Total: cash at end of quarter
(item 1.23) 52 222
----- --------------------------------- ---------------- -----------------
Acquisitions and disposals of business entities
Acquisitions Disposals
(Item 1.9(a)) (Item 1.10(a))
---------------------- ----------------
5.1 Name of entity SSNE -
---------------------- ----------------
5.2 Place of incorporation China -
or registration
---------------------- ----------------
Consideration
for
acquisition
5.3 or disposal $31,014,000 -
---------------------- ----------------
5.4 Total net assets $4,892,734 -
---------------------- ----------------
5.5 Nature of business Energy Efficiency -
Solutions and Kalina
Cycle Licensee for
China.
---------------------- ----------------
Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
2 This statement does give a true and fair view of the matters disclosed. Sign here: Date: 31 October 2013
Company Secretary
Print name: Alwyn Davey
Notes
1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2. The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.
-- 6.2 - reconciliation of cash flows arising from operating activities to
operating profit or loss
-- 9.2 - itemised disclosure relating to acquisitions -- 9.4 - itemised disclosure relating to disposals -- 12.1(a) - policy for classification of cash items -- 12.3 - disclosure of restrictions on use of cash -- 13.1 - comparative information
3. Accounting Standards. ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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