Renova Energy Share Discussion Threads

[motoben] 22/1/2008 13:53

will todays fed rate cut help renova restructure their debt and borrow enough to cover overspend?

[motoben] 22/1/2008 13:51

before getting more jobs perhaps the non excec directors of renova do what they are paid to do and keep check of the main directors and the company, this guy seems to work everywhere!



"Milton Homes has appointed three non-executive directors to its board as it supports its home reversions business which is part of the equity release market.

The company said that the new appointments "underline the desire to grow its market presence" with each of the directors bringing strong real estate and finance experience.

Harry Hill is currently the non-executive chairman of Countrywide, the property services group, where he was group managing director until 2006. He was formerly managing director of Abbotts (East Anglia) Limited.

Edward Murray has over 20 years as a corporate finance practitioner with British Linen Bank and brings board experience of providing strategic financial advice to companies with a view to maximising shareholder value.

He is a member of the Institute of Chartered Accountants of Scotland. He is currently a non-executive director of Artemis AiM VCT 2 plc, Securities Trust of Scotland, Renova Energy plc and W A Baxter & Sons (Holdings) Limited. He is also a member of the Audit Advisory Board of The Scottish Parliament.

David Hyams has dedicated his entire career to the commercial and residential property sector having joined Conrad Ritblat & Co as a trainee in 1963.

In 1986 he was appointed joint managing partner and was a director upon incorporation from 1991 to 2004. Since then until 2007, he was a director of Colliers CRE plc. He is a qualified chartered surveyor."

[motoben] 14/1/2008 15:20

would it surprise anyone if blackrock and merril lynch had been approached whilst rva was suspended to join a placing as they sold all the shares they held and will screw the company for new shares at a very low price

[opmoc] 14/1/2008 01:06

Totally Amased That In Theory You Can Still Sell Shares Here.

Why The Hell Would Anyone Buy Shares in a Company Thats Whole Purpose is To Destroy Both Energy and Food?

Tony

[motoben] 11/1/2008 13:34

from ethanol producer about a similar company

'CIE restructuring hits a snag
By Sarah Smith

Web exclusive posted Jan. 10, 2008, at 2:55 p.m. CST

Sale of a financially troubled ethanol plant in Canton, Ill., has been delayed by a bankruptcy judge troubled about the project's interim financing.

Central Illinois Energy filed a Chapter 11 petition in mid-December and was slated to go on the auction block in late February, at the same time it was

[iggster2000] 10/1/2008 14:34

I had Renova on my watchlist many moons ago, and have now just looked in to see that it's all gone horribly wrong!

What's the chances that this could get resolved with the banks/further financing, and if so, could this be a decent recovery play?

[chairman2] 10/1/2008 11:52

if they can banks will try and sell the asset
to get back their money

they are not interested in future earnings or
even shareholders.

RVA may be left as a minority holder of sweet b.a.

[motoben] 09/1/2008 19:31

could it be in the banks interest not to help refinance and further? if the company has secured these loans against the production and distribution assets and if the bank demand immediate repayment then they take control of the company. they could be talking to other companies to sell it on quickly

[motoben] 09/1/2008 10:33

been away for a few days and just read the update, its bad and it seems that the project managers/directors must have had no idea of how to work on a big project if they can suddenly come up with these extra expenses after reporting things on track a few weeks prior.
why has the suspension been lifted? they dont seem to have worked out a solution with the bankers yet and have no money so imho it still should be non-tradeable.
whoever gets into the placing will be getting a bargain as it will be at a very low value compared to the nav of the company, which means a huge portion of the company needs to be placed to get any money. will need a 100-300% extra shares to make 3-9m$
ideal takeover company now

[jimarilo] 07/1/2008 19:54

I was mostly out around 80+p as well, but kept some running for free nothing worth worring about

Will keep an eye on RVA, as it may not be the end as yet and would add on the right news

All the best !

[masurenguy] 07/1/2008 19:10

Just noticed that they topped the losers board today. Very relieved that I got out at 82p early last August. It looks like they could go under - commiserations to any long term holders.

[the_doctor] 07/1/2008 16:15

Well... not to disappointed they cancelled my orders in the end

[h4rsh2] 07/1/2008 14:26

Is this another BFC in making....?????

[egoi] 07/1/2008 14:16

BFC2. They're bust I'm afraid. Commiserations to all. At least today you can recoup a tiny bit of your loss.

Even if they do get refinancing, (unlikely imho such is the deficit) it won't be the shareholders who benefit I fear. BFC was taken private but shareholders got virtually zilch back. It doesn't matter how the rest of the business is doing, cold truth is it won't pay these bills.

This is really all that counts imho:

'.....As a result of this funding shortfall Renova has suspended work on the Heyburn
facility and, as a consequence, it is now in breach of its banking covenants
which were structured around the original project start-up date. Renova has
outstanding term loans under these facilities amounting to US$28 million on
which repayment was scheduled to commence on 30 June 2008 but, as a result of
the breach in banking covenants, this is now repayable on demand.......'

[the_doctor] 07/1/2008 13:46

Might have to not look at this thread - I think I'd probably be 50% up by EOD!

[run rabbit] 07/1/2008 13:45

There is the proof. They have no stock and no option but to raise the prices on every buy.

[asmagliocco] 07/1/2008 13:44

Volsung - try telling that to the Brazilians, who famously thrive on its use...

[pre] 07/1/2008 13:40

Jailbird....there you go..move up.....i agree run rabbit...any more buying will see mm's short of stock...

[volsung] 07/1/2008 13:36

Not only does ethanol biofuel production not make ethical sense it does not make financial sense either.

[the_doctor] 07/1/2008 13:36

Boo, they didnt give me the profit!!

200pp wasnt a great deal, but at entry prices of 11-12p, I think I could quite easily have doubled or more. Oh well. Good luck, I'll continue watching.

[jailbird] 07/1/2008 13:34

i can buy 25k..so what!

[jailbird] 07/1/2008 13:33

pre,

the amount you can buy does not always relate to the price movement...
MMs just controlling trading on the buy or sell side.

[the_doctor] 07/1/2008 13:33

"look at the debt....any where is the money needed gonna come from now.."

Hence the sell-off, but its oversold.
They'll refinance.

Had my spreadbets cancelled due to the market cap being too low apparently!
Maybe they'll let me keep the profit!? :o(

[run rabbit] 07/1/2008 13:33

Presently 36 million shares out there.Probably quite a few tucked away too.Market took very few sells on the drop so any buying and they are going to be stuffed and found to be very short in the open market which is not going to be a position they will like at all.