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RPL Renewable Power

750.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Renewable Power LSE:RPL London Ordinary Share GB00B4LWV986 ORD �1000
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 750.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 750.00 GBP

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Date Time Title Posts
24/8/201208:54RENEWABLE POWER & LIGHT109
04/8/200915:42RENEWABLE POWER & LIGHT (RPL): CHART AND DISCUSSION THREAD898

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Posted at 02/11/2010 08:17 by asparks
my holding no longer shows on TDW. Where can you see yours? Have you been issued with a share cert?
Posted at 16/4/2010 07:02 by mbaxter
Still over 6p per share net assets.
Posted at 10/12/2009 14:01 by catandcrow
Seems to be highly valued at this price - but the takeover is still in progress..
Posted at 10/12/2009 11:53 by asparks
is it worth buying at this price? some people seem to be mopping up a few today
Posted at 18/11/2009 16:24 by catandcrow
Well the share price will drop - hopefully not to the 2p level. But it will drop a lot since the major asset (the cash) is being returned to shareholders.
Posted at 14/11/2009 22:31 by ased_ali
I'm afraid I'm too new to investing and really not bright enough to fully understand this.

The current share price is 10p but subject to shareholder approval, every share holder will get back 8p per share (from the company's share account). On top of that there's some other disposals.

Assuming the 8p return does go ahead (share holders are hardly going to say no), that's one hell of a return or is the share price going to go to 2p after that?

Sorry, I must either be dreaming or missing something really obvious here?
Any clarification will be very gratefully received.
Posted at 05/11/2009 12:16 by catandcrow
It is confusing but they say : "As at 30 September 2009, the net cash position of the Company was US$15.1 million equivalent to approximately 9 pence per Ordinary Share(2)). On a pro forma basis, the net cash position of RPL would be US$3.5 million (equivalent to approximately 2 pence per Ordinary Share(2)) following the proposed Second Return."

Otherwise I would buy more...
Posted at 26/10/2009 08:50 by asparks
their website gives no indication that they plan to close after this disposal:

o grow Renewable Power & Light plc through strategic acquisitions and greenfield development into a leading international independent power producer, based on renewable and green technologies

Renewable Power & Light (RPL) plc was created in 2006 to build a substantial independent power producer (IPP) through the acquisition of low-cost conventional power generation assets that can be easily converted to use renewable fuels. To do this, RPL has put together a world-class management team consisting of skilled power generation engineers and senior power utility executives with a proven track record of rehabilitating economically distressed power assets and managing portfolios of power assets.

When running its power plants on biodiesel and aggregating available renewable energy credits and incentives, RPL plc believes it has identified an opportunity to turn power assets that have become unprofitable due to the high price of gas and petroleum diesel, into assets that produce profits for shareholders.

In the first instance, RPL plc will acquire conventional dual-fuel power plants in the United States within a power output range of 50MW and 150MW.These power plants will be run on renewable fuels.
Posted at 26/10/2009 08:26 by asparks
Christmas pressie time:

TIDMRPL

RNS Number : 3383B
Renewable Power and Light Plc
26 October 2009

RENEWABLE POWER & LIGHT PLC




DISPOSAL OF MASSENA POWER PLANT




26 October 2009


Renewable Power & Light plc (AIM: RPL) ("RPL" or "the Company"), today announces
that, in conjunction with the previously announced signing of an agreement for
the sale of the Elmwood Park and Massena power plants on 30 July 2009, it has
now closed on the sale of the Massena power plant. The closing on the sale of
the Elmwood Park power plant was previously announced on 16 September 2009.This
now represents the disposal of the Company's power plants.


Further to the Company's investing policy approved by shareholders on 19 August
2009, now that the sale of both of the Company's power plants have completed,
the Company intends to make a distribution of capital to shareholders prior to
the end of 2009. The exact quantum and timing of the distribution is still to be
determined by the board. The distribution will be subject to shareholder
approval, including for the purposed of any compliance with Rule 21.1 of the
Takeover Code. A circular will be sent to shareholders in due course to seek the
requisite approvals.


For further information, please contact:


Renewable Power & Light plc Tim Hunstad Telephone: +1 952 746 0393


Grant Thornton Corporate FinanceGerald BeaneyTelephone: +44 0207 383 5100
(Nominated Adviser)
Posted at 24/9/2007 10:47 by robin_of_loxley
well may as well pop the interims on thread for posterity:

RNS Number:3239E
Renewable Power and Light Plc
24 September 2007



RENEWABLE POWER & LIGHT plc

("RPL" or "the Company")


INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2007


CHAIRMAN'S STATEMENT

Overview

RPL was established in 2006 as an independent producer of green or renewable
power. The progress the Company had been making toward this objective has been
overshadowed by the announcement on 5 July 2007 that Safari Group Inc.
("Safari"), RPL's principal palm oil supplier, would be unable to perform under
the existing terms of its contract. As a result, the Company will be unable to
produce green power according to its original plan.

Since the beginning of July, management's primary objective has been to advance
the investigation of alternative feedstock supplies. In addition, the Company
has been pursuing legal action against Safari.

Financials

At this stage of the Company's development, RPL was not anticipating the receipt
of revenue from renewable power sales at either its Massena New York or Elmwood
Park, New Jersey, facilities. Revenue in the first half did, however, increase
to US$1.75 million (2006: US$0), as a result of the sale of peak period
electricity from Elmwood Park and the receipt of capacity payments from both
Elmwood Park and Massena. The Company receives capacity payments as a matter of
course to ensure that, if required, RPL is in a position to produce and deliver
power to the local grid. The operating loss was US$7.1 million (2006: US$0.2
million), primarily as a result of our administrative costs. This led to a loss
before tax of US$6.27 million (2006: US$0.2 million).

The Company has a strong balance sheet with total assets of US$93 million as at
30 June 2007 (as at 30 June 2006: US$2.7m). Net cash at the half year was
US$29.8 million (cash and cash equivalents) (2006: US$315,000). An additional
US$20.1 million of cash was transferred to the Company in mid July as part of a
secondary placement. The Company is tailoring its expenditure on the biodiesel
refinery construction programme to match feedstock availability.


Operating review

Palm oil supply

On 5 July 2007, RPL requested the temporary suspension of trading in its shares
following notification that Safari, the Company's principal supplier of palm oil
feedstock, would be unable to supply the oil at the contractually agreed price.
Safari cited the significant increase in the price of palm oil as the reason for
its inability to perform under the terms of its contract with RPL.

The Company immediately commenced legal action against Safari, two related
entities and one of Safari's directors for breach of contract and fraudulent
misrepresentation. In addition, on 11 July 2007, RPL successfully obtained a
temporary restraining order preventing any of the defendants from transferring
any palm oil to third parties. Since this time, Wilkie, Farr & Gallagher LLP,
RPL's solicitors in this case, have vigourously pursued all legal avenues to
either enforce performance under the contract or seek compensation. On the basis
of legal advice, the Board has decided it is not in shareholders' best interest
to pursue legal action any further.

Alternative feedstocks

Prior to Safari's breach of contract, the Company had already started to
identify potential source countries for alternative feedstock supplies. Since
early July, our investigations and due diligence have, primarily, been focused
on West Africa. Opportunities reviewed in South East Asia have so far proved too
costly. We have also made preliminary investigations in Central and Latin
America, which we continue to pursue.

Over time, we intend to establish a portfolio of feedstock types sourced from
different countries and with varying yield and growth profiles. In order to
manage our upstream feedstock sourcing operations, we announced in July, that we
would recruit an experienced senior manager. The search for this individual is
underway and an update will be provided as soon as appropriate.


Board and Senior Management

On 21 September 2007, David Lewis, President and Chief Executive Officer, left
the Board and the Company. All agreements related to his employment have been
terminated and a process to select a new Chief Executive Officer has been
initiated by the Board. Dominic Colvin, Senior Vice President, Business
Development also left the Company on 21 September 2007.

Victor Fryling, non-executive Director, has agreed to become interim President
and Chief Executive Officer. Mr. Fryling has an extensive 31 year career in the
energy business. Until 2000, he was President and Chief Operating Officer of CMS
Energy, a US$15 billion diversified energy company. In 2001, he became Chairman
of the US Division of Renewable Energy Systems, the US wind farm business of the
McAlpine family. Under his guidance, the US operations of RES have grown
significantly, to become one of the most successful renewable energy operations
in North America.

Outlook

The loss of our feedstock supply in July has impacted the scheduled
implementation of the Company's business plan. Notwithstanding this, the Company
will continue to prioritise the review of all potential feedstock supply
opportunities, with a view to securing an appropriate source of feedstock. We
will also prioritise the recruitment of both a permanent President and Chief
Executive Officer and Senior Manager of sourcing operations.


Enquiries:

Hudson Sandler +44 (0)20 7796 4133

James White





Consolidated Income Statement (unaudited)

Renewable Power & Light plc

Six Months Ended 30 June 2007

Six months Six months
ended ended
30 June 2007 30 June 2006
-------------- --------------

Note $'000 $'000

Revenue 2 1,746 -
Cost of sales (5,338) -
--------- ---------
Gross loss (3,592) -

Administrative expense (3,467) (194)
--------- ---------
Loss from operations (7,059) (194)

Investment income 917 -
Finance costs (130) -
--------- ---------
Loss before tax (6,272) (194)

Income tax - -
Loss for the period attributable to equity
holders --------- ---------
of the parent company (6,272) (194)
========= =========



Loss per share
Basic and diluted 4 (0.07) (0.01)
========= =========



All activities of the Company relate to continuing operations.





Consolidated Balance Sheet (unaudited)

Renewable Power & Light plc

30 June 2007



30 June 2007 30 June 2006
-------------- --------------

$'000 $'000
ASSETS
Non-current assets
Property, plant and equipment 37,817 2,300
Other long term assets 608 -
----------- -----------
Total non-current assets 38,425 2,300

Current assets
Inventories 3,175 -
Trade and other receivables 1,038 -
Non-trade receivables 20,533 125
Cash and cash equivalents 29,817 315
----------- -----------
Total current assets 54,563 440
----------- -----------
Total Assets 92,988 2,740
=========== ===========

EQUITY AND LIABILITIES
Equity
Share capital 1,836 393
Share premium 93,593 2,538
Retained loss (7,294) (194)
----------- -----------
Total equity attributable to equity holders of
the parent 88,135 2,737

Non-current liabilities
Provisions 1,200 -
----------- -----------
Total non-current liabilities 1,200 -

Current liabilities
Interest bearing loans and borrowings 1,985 -
Employee benefits 95 -
Trade and other payables 1,573 3
----------- -----------
Total current liabilities 3,653 3
----------- -----------
Total Equity and Liabilities 92,988 2,740
=========== ===========





Consolidated Statement of Cash Flows (unaudited)

Renewable Power & Light plc

Six Months Ended 30 June 2007





Six Months Six Months
ended ended
-----------------
30 June 2007 30 June 2006
--------------

Note $'000 $'000

NET CASH FLOW FROM OPERATING
ACTIVITIES 7 (5,931) (316)

INVESTING ACTIVITIES
Interest received 911 -
Purchase of property, plant and
equipment (6,593) (2,300)
---------- ----------
CASH FLOW FROM INVESTING ACTIVITIES (5,682) (2,300)

FINANCING ACTIVITIES
Repayment of borrowings (2,015) -
Proceeds on issue of shares 5 20,132 2,931
Receivable in respect of issue of
shares (20,132) -
---------- ----------
CASH FLOW FROM FINANCING ACTIVITIES (2,015) 2,931
---------- ----------
NET (DECREASE)/INCREASE IN CASH AND
CASH EQUIVALENTS (13,629) 315
========== ==========

CASH AND CASH EQUIVALENTS AT
BEGINNING OF PERIOD 43,440 -
Effect of foreign exchange rate
changes 6 -
---------- ----------
CASH AND CASH EQUIVALENTS AT END OF
PERIOD 29,817 315
========== ==========






Consolidated Statement of Changes in Equity (unaudited)

Renewable Power & Light plc

Period Ended 30 June 2007




Share Share Retained
Capital Premium Losses Total
$'000 $'000 $'000 $'000

Balance at 1 January 2007 1,646 73,651 (1,394) 73,903
Net loss for the period - - (6,272) (6,272)
Credit to equity for IFRS 2 - - 372 372
Proceeds from share issue 190 19,942 - 20,132
---------- ---------- ---------- ----------
Balance at 30 June 2007 1,836 93,593 (7,294) 88,135
========== ========== ========== ==========





Notes to the Interim Results (unaudited)


General information

The Company is incorporated in the United Kingdom under the Companies Act 1985.
The address of the registered office is given on page 2.


The financial statements are presented in US dollars, the currency in which the
majority of the Group's transactions are denominated.


1. Significant accounting policies

The financial information in this document has been prepared using accounting
principles generally accepted under International Financial Reporting Standards
("IFRS"), as adopted by the European Union. The accounting policies applied are
consistent with the financial statements issued for the period ending 31
December 2006. The consolidated financial information comprises the Company and
its subsidiaries (together referred to as "the Group").

These unaudited interim financial statements do not constitute statutory
accounts within the meaning of s240 of the Companies Act 1985. The statutory
accounts for the year ended 31 December 2006, on which the auditors gave an
unqualified audit report, have been filed with the Registrar of Companies.


2. Segmental information

Segmental information about business units is presented below.


Business segments

For management purposes, the Group is currently organised into two divisions -
power plant and biodiesel plant operations. These divisions are the basis on
which the Group reports its primary segment information.

Segment information about these businesses is presented below.


2. Segmental information (continued)
30 June 2007
Power plant Biodiesel plant Unallocated Total
operations operations
$'000 $'000 $'000 $'000
Revenue
External sales 1,746 - - 1,746
-------- -------- --------- --------
Total revenue 1,746 - - 1,746
======== ======== ========= ========
Result
Segment result (3,592) - (3,467) (7,059)

Investment
income 917 917
Finance cost (130) (130)
--------
Loss before tax (6,272)

Taxation charge -
--------
Loss after tax
attributable
to equity
holders of
parent (6,272)
========

30 June 2007
Power plant Biodiesel plant Unallocated Total
operations operations
$'000 $'000 $'000 $'000

Segment assets 27,036 14,357 51,595 92,988
======== ======== ========= ========

Segment
liabilities 2,374 81 2,398 4,853
======== ======== ========= ========

Net assets 88,135
========


30 June 2007
Power plant Biodiesel plant Unallocated Total
operations operations
$'000 $'000 $'000 $'000

Capital expenditure on
property, plant and equipment
Additions 784 5,711 98 6,593
Adjustments to fair value of
subsidiaries
acquired in
the prior
period 833 - - 833
======== ======== ========= ========




2. Segmental information (continued)

Geographical segments

The Group has one geographical segment - the USA.


3. Business Combinations

As permitted by IFRS3, management has carried out a detailed review of the fair
value of the assets and liabilities acquired on the purchase of Power City
Generating, Inc. and Power City Partners LP on 14 December 2006. As a result of
this review, the following adjustments have been made:

Provisional Fair Value Adjustment Adjusted
Fair Value
$'000 $'000 $'000
Property, plant, and
equipment 19,510 (765) 18,745
Inventories 1,800 (70) 1,730
Trade receivables 1,254 (1,254) -
---------- ------------- ----------
Prepayments 15 - 15
Trade payables (1,626) 1,626 -
Accrued expenses (1,238) 463 (775)
Provisions (1,200) - (1,200)
---------- ------------- ----------
Net identifiable assets and
liabilities 18,515 - 18,515
========== ============= ==========



4. Loss and net assets per share

Basic loss per share

The calculation of basic loss per share for the period ended 30 June 2007 has
been determined as the net loss after tax divided by the weighted average number
of equity share outstanding during the period.

Period ended 30 Period ended
June 2007
30 June 2006
$'000 $'000
Net loss attributable to ordinary shareholders
Net loss attributable to ordinary
shareholders (6,272) (194)

Number of ordinary shares in thousands of shares
Issued ordinary shares at the
beginning of the period 85,843 -

Issued ordinary shares at the end
of the period 95,298 21,623
---------- ----------
Weighted average of ordinary shares
in thousands of shares 87,194 21,535
---------- ----------
Basic loss per share (0.07) (0.01)
========== ==========




4. Loss and net assets per share (continued)


The only potentially dilutive shares were the share options. These shares are
anti-dilutive as they would decrease the loss per share. Therefore, there is no
difference between the basic loss per share and diluted loss per share for the
period.

Diluted loss per share is calculated by dividing the loss attributable to
ordinary shareholders by the weighted average number of ordinary shares
outstanding during the period adjusted for the effects of all potentially
dilutive shares.


Net assets per share
30 June 2007 30 June 2006
$'000 $'000
Net assets per share
Net assets attributable to shareholders 88,135 2,737
------------ -----------

Basic weighted average of ordinary shares in
thousand of shares 87,194 21,535
Diluted potential shares in thousand of shares 91,954 21,535
------------ -----------
Basic net assets per share 1.011 0.127
============ ===========
------------ -----------
Diluted net assets per share 0.958 0.127
============ ===========



5. Share capital and reserves

On 29 June 2007, the Company completed a secondary placement on AIM of 9,454,545
ordinary 1p shares for gross proceeds of $20,866,000.


6. Financial commitments

The Group has a financial commitment in respect of the acquisition of a
biodiesel plant. Of the total commitment of $18.7m, $12.0m has been paid and is
capitalised within assets under construction. The remaining commitment will be
settled subject to the seller's achievement and the Group's acceptance of a
number of milestones, as established in a contract between the two parties.

The Group has several financial commitments for the lease of tanks and equipment
for the biodiesel power plant. The annual lease commitment is $1,282,000 for a
lease period of 3 years.

The Group has a financial commitment for the lease of railcars. The annual lease
commitment is $1,002,000 for a lease period of more than 5 years.

The Group has a financial commitment for feedstock due diligence. These letter
agreements include a six month retention payment totalling $360,000, legal and
travel expenses and success fees if the project ultimately is approved by the
Board of Directors.

The Group has a financial commitment for the lease of office space in the USA.
The annual lease commitment is $98,000 for a lease period of more than 5 years.



7. Reconciliation of loss from operations to net cash from
operating activity

Consolidated cash flow statement

Period ended 30 Period ended 30
June 2007 June 2006
$'000 $'000

Loss from operations (7,059) (194)

Adjustments for:
Depreciation of
property, plant and
equipment 915 -
IFRS 2 charge on share
options 372 -
---------------- ---------------
Operating cash flows
before movement in
working capital (5,772) (194)

(Increase) in
inventories (238) -
(Increase) in
receivables (794) (125)
Increase in payables 1,003 3
---------------- ---------------
Cash generated from
operations (5,801) (316)
Interest paid (130) -
---------------- ---------------
Net cash from
operating activities (5,931) (316)
================ ===============



8. Related party transactions

The Company entered into an agreement for the provision of senior management and
business development services with Renewable Power & Light Services Inc., ("RPL
Services") in November 2006, which had effect from 6 June 2006. RPL Services is
wholly owned by David Lewis, the Chief Executive Officer of the Company.

Under the terms of the agreement, the Company is required to pay a minimum of
$24,000 per annum to RPL Services in respect of services rendered under that
agreement. In the period to 30 June 2007, $964,807 was paid to RPL Services,
Inc. and recognised in the loss of the Company. At 30 June 2007, a debtor
balance of $159,194 relating to prepaid expenses was held between the Company
and RPL Services.


On 21 September 2007, the Board of Directors of the Company terminated the
agreement with Renewable Power & Light Services, Inc.



9. Subsequent events


In early July, Safari, the Company's principal supplier of palm oil feedstock,
notified the Company that they would be unable to supply the oil at the
contractually agreed price. The Company immediately commenced legal action
against Safari. Wilkie Farr & Gallagher LLP, RPL's solicitors in this case, have
vigourously pursued all legal avenues. On the basis of legal advice, the Board
has decided that it is not in the best interest of shareholders to pursue legal
action any further.


The Company made the following significant payments in July and August 2007.

* $2,749,800 for an equipment progress payment on the biodiesel facility.
* $727,000 for a plant progress payment on the biodiesel facility.
Renewable Power & Light share price data is direct from the London Stock Exchange

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