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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Renew. Energy | REH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.875 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.875 | 0.875 |
| Top Posts |
|---|
Posted at 01/4/2016 13:47 by megafauna What happens to CWEs shares now that REH is being liquidated?Do they go to Utilico? hxxp://renews.biz/10 |
Posted at 07/1/2016 00:54 by john of groats megafauna,I hope you are right. I think CWE may eventually make good. Wave energy is certainly more reliable than wind and solar, at least until an economical method of storing surplus renewable energy on a large scale has been developed. I don't spend much time studying CWE these days as my holding of shares via REH has probably been mortgaged to Utilico and is effectively worthless. Coincidentally, I was in Perth in September on my way to visit relations and friends across Australia. Unfortunately, there was no time to visit CWE as we had a lot of travelling to do in five weeks. John |
Posted at 26/12/2015 01:41 by john of groats megafauna,Anent your post no. 2458, the reason for my original decision to invest in REH was its involvement in CETO. That involvement has diminished over the years as REH became more interested in wind than waves, ceased funding development of CETO, transferred ownership back to Carnegie in return for shares, sold some of those shares and then failed to partake in subsequent issues of shares by CWE. I cannot see why Ottaviano would be willing to put effort or money into rescuing REH other than to make a deal to acquire their CWE shares. He would certainly not need to transfer permanently to the UK to negotiate that. Nor is that an urgent matter now Utilico has extended the loan. What puzzles me is why he needs to be so heavily involved with the UK project that he needs to be based there. Who is looking after CETO development in WA and projects elsewhere? John |
Posted at 24/12/2015 14:24 by hedgehog 100 24/12/2015 09:52 UKREG Renewable Energy Holdings plc Amendment of Loan and Loan Facility"REH announces that on 22 December 2015 it agreed with Utilico to amend the maturity dates on its loan with Utilico Investments Limited ("Utilico"), originally dated 31 July 2009 and subsequently amended (the "2009 Loan"), and its loan facility with Utilico, originally entered into on 5 February 2014 and subsequently amended (the "Loan Facility") (together the "Outstanding Loans"). The maturity dates of the Outstanding Loans have been amended from 31 December 2015 to 31 March 2016 (the "Extension"). All other terms remain the same as previously announced. The amount drawn down at present from the Loan Facility of GBP4.25 million is GBP4.22 million and the 2009 Loan is fully drawn. The purpose of the Extension is to allow time for the Company to lodge an application for a Judicial Review of the Secretary of State's decision, which disregarded the Planning Inspectorate's recommendation, and so refused consent to the Mynydd y Gwynt wind farm, as announced on 20 November 2015 (the "Rejection"). In parallel the directors of REH (the "Directors") are continuing discussions with Utilico, to determine whether the Company can and should remain trading in light of the Rejection. However the Directors believe that the Company is likely to commence insolvency proceedings in Q1 2016. The trading of the Company's shares on AIM remains suspended. Utilico is interested in approximately 28.71 per cent of the issued share capital of REH and as such is considered a "Related Party" under the AIM Rules for Companies. The independent directors of the Company (Clive Callister and Alex Bush), having consulted with Strand Hanson Limited, consider the Amendments to be fair and reasonable insofar as shareholders are concerned. Further announcements will be made in due course. Enquiries: Renewable Energy Holdings plc: David Weir (Chairman) Clive Callister (Chief Operating Officer) +44 (0) 1624 641199 Strand Hanson Limited: +44 (0)20 7409 3494 " |
Posted at 22/11/2015 23:54 by megafauna This is my first posting on this forum. I live in Australia and have held CWE shares for five or so years. I am interested to know what REH holders are thinking about the suspension of REH following the rejection of the wind farm and how this will impact on their company as well as on CWE.Also, I am would like some opinion of the very rushed relocation of CWE's CEO Michael Ottaviano to the UK. When I say rushed, up until a day or so before the recent capital city roadshow tour, he was down as the presenter. On the day I went to the Brisbane roadshow we were informed that he would be permanently based in the UK within a week. It is hard not to think that the relocation and the suspension of REH are not some how connected. The reason we were given for his relocation is to oversee the deployment of Ceto 6 in the UK. That may be so, but so far Ceto 6 is still in the planning stage, so why the big rush? I don't know a lot about REH other than what I have gleaned from my involvement with CWE. From what I can tell they own about 6% of CWE's shares, making them the second biggest shareholder behind Mike Fitzpatrick's company. I am familiar with how he picked up a huge bundle of CWE shares from REH at a fire sale price. Is something similar about to happen with REH's remaining 6%? Does anyone think that the relocation of the CEO might in some way be a rescue mission in order to allow REH to keep their head above water until they can benefit from the commercialisation of Ceto 6? I would appreciate your input. Cheers MF |
Posted at 20/11/2015 13:51 by hedgehog 100 "The Secretary of State has refused development consent for this application. For further information, please refer to the following decision documentation:– Secretary of State’s Decision Letter – Examining Authority’s Recommendation Report – Habitats Regulations Assessment – Post-examination correspondence – Late responses to DECC’s consultation conducted 14 September 2015 20 November 2015" Very disappointing, albeit that this was always a risky punt. It looked a very appropriate development for the location, and important in helping to meet our renewables targets. Was it I wonder rejected for political reasons? Fortunately I had under a grand invested here, well under the sum I have made from REH previously, but a 100% loss of that is now on the cards (which would be my first for several years). The main hope now is that REH will be refinanced to continue as a shell, after Utilico have taken its main assets. |
Posted at 02/11/2015 18:39 by hedgehog 100 I agree that it's not for widows and orphans, but investors in large energy projects tend to think very long term, so I don't see the grid connection issue as an insurmountable barrier.The recently announced Hinkley Point power station development for example won't open for ten years - "What does the nuclear deal with China mean? By Howard Mustoe Business reporter 21 October 2015 ... Where will the power stations be built? The first will be built at Hinkley Point on the Somerset coast, and is expected to open by 2025 ..." REH also looks to have very good potential as an energy shell, with its large tax losses, and Utilico's near 30% holding - so the main creditor has a vested interest in keeping REH going in some form. Could the listing be utilised by CWE (Carnegie Wave Energy) to obtain a dual-listing in London? |
Posted at 01/11/2015 18:41 by hedgehog 100 I've revisited REH recently as a potential planning permission trade, in view of MAC's ten-bagging between the start of May and latter August this year (from about a penny to over 10p), before falling back:26/08/2015 07:12 UKREG Marechale Capital PLC Northfield UK Solar Update "Further to the Company's announcement on 21 August, the Directors of Marechale Capital are pleased to announce that Kettering Borough Council has granted planning permission for Northfield UK Solar Limited's ("Northfield") 49.9MW solar scheme at Desborough. The Company has a 26% equity shareholding in Northfield and this solar scheme. ..." The long-awaited final planning permission decision on REH's 81-89.1MW Mynydd y Gwynt wind farm is due by the 20th of this month, and I believe that the likelihood of approval is very good: "What happens next 20/11/2015 - Deadline for Secretary of State to make decision The Planning Inspectorate issued a report of recommendation to the Secretary of State on 20 August 2015. The Secretary of State has 3 months in which to issue a decision. The decision letter and report of recommendation will be published on this page of the website" REH's market cap. at its current share price of 0.975p is about two thirds of a million pounds, just a little more than MAC's cap. was at a penny. |
Posted at 21/4/2015 15:31 by drif Dear John (No pun intended)I know that well! Reh is a design shell, they will not build, they are not builders, however the land (after expences) will still be worth many millions (if achieved) The value of CWE in November will most likely be more than today and with company dept running at 5.4m will account for the majority of that later this year. The value of the Polish asset will be a further dept reducing / cash + asset, when sold. REH even as a cash shell with no assets is worth something at the end for purposes of reversing.I made some figures and found REH outstanding value or highly undervalued with its dept underwritten by the biggest shareholder. Also Planning permission most likely to go ahead only after a general election.I understand REH have depts and land payment contracts, the best part is nobody gets paid if there is no planning granted, even in that case REH is fair value today. |
Posted at 29/9/2013 17:07 by john of groats Ed,You are confusing Voluntary Escrow with Escrow. When assets are put in Escrow, it is usually so the owner can use them as security in some transaction with a second party. The assets are transferred to a third party so that the owner cannot get control of them until some mutually agreed conditions are met. With Voluntary Escrow, the assets remain in control of the owner. In the case of REH's holding of CWE shares, there is an agreement between REH and CWE that REH will continue to hold them for the benefit of its own shareholders. This agreement arose out of REH's previous attempt to sell CWE shares, causing considerable uncertainty in the market, depressing the share price To end the uncertainty, CWE agreed to assist in finding a buyer provided that REH put the rest of the shares in Voluntary Escrow. The agreement is between REH and CWE, not between REH and its shareholders who are merely incidental beneficiaries. As such, the terms can be changed at any time by mutual agreement of REH and CWE. Until then, ASX will not allow REH to transfer ownership of the shares. If CWE agreed to the sale of more shares from REH's holding, ASX would not block it. I can imagine circumstances where CWE would happily assent to the sale. Say an investor with a much more secure future than REH's wanted to acquire a considerable shareholding in CWE without having to pay a ridiculous premium and REH has failed to sell Kobylany and is desperate for cash. Under those circumstances it would be in the interests of both CWE and REH to agree a sale. The only recourse for REH shareholders would be to call an Extraordinary General Meeting to vote down the sale. Almost certainly, the Board would resign and the shareholders would need to vote in a new Board. With REH being based in the Isle of Man, there may not be many prepared to take on that task. I am not saying this will happen or is likely to happen, but pointing out that Voluntary Escrow does not stop it happening. John |
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