Rurelec Share Discussion Threads

[swooped] 23/5/2014 12:57

£18.86 million at today's exchange rate $37.1 million, payday today then back to business loads to happen over the coming months,
- Results and restated NAV probably around 13p
- Contract signing of Chilean projects
- Santiago Listing
- Further MW production projects
- Discovery how much more Argentina is bringing in
- I would expect also a full forward looking statement and by rights some broker reports.

Back to business and further growth, at last...........

[cheshire2] 23/5/2014 00:23

littlemadam just shy of £18.7 million

[tony1974] 22/5/2014 13:53

Wonder if Peter has checked his bank account yet..!

:-)

[littlemadam] 20/5/2014 11:29

Is the award about £22m?

[mortimer7] 20/5/2014 11:22

Over 300k shares in 11 buys already since the news.

[gerhart] 20/5/2014 11:17

Well let's hope it's upwards from here.

[swooped] 20/5/2014 11:11

20 May 2014



Rurelec PLC

Well there we go boys

("Rurelec" or "the Company")


Further Update on Bolivian Award


The Board of Rurelec has been informed that a key council of ministers in Bolivia has given the necessary approval for a Supreme Decree to be issued authorising signature and payment of funds to Rurelec in settlement of the final amount agreed in Madrid. Payment is now expected shortly.



- Ends -

[meijiman] 19/5/2014 09:12

I note that Morales has signed up to play professional football. Clearly a man right on top of his game-its no wonder Rurelec has taken a pasting from this crafty midfield schemer who still has box to box capability.

[jeddi2] 18/5/2014 11:26

Meijiman - Its more about wondering bow the BoD's got us into this mess.One would expect that if we took on Solicitors, which of course we did, we would have "No win no fee". And if we took a loan it would would be insured in the case of us losing the case?

As far as I am concerned if we do not get paid, we lost. In any event according to the statement of the 'Decision', We LOST half the Hearing!

What are the BBoD's doing about these questions?

[meijiman] 17/5/2014 09:22

Funny how the tone of the posts has changed from the delusional stuff being posted in the run up to the supposed settlement.Clearly doing business in Bolivia had risks which were not fully factored in,. Be interesting to see how this pans out.

[q1w2e3r4t5] 16/5/2014 23:32

What happens if the Bolivians don't pay by the end of May?

[code677] 16/5/2014 19:37

Its got to the stage if the proceeds are received and are exactly enough to pay off all debt /creditors, the directors would give right hands to be in that situation. The longer it goes without payment the more the company's survival is in question.

Post-sale will be a case of rights issue to recapitalize. I avg 8p and would see a 1-for-2 rights at say 4p, raising £11m, as a chance to get back on an even keel. 6p would then see an enlarged market cap of £50m with the balance sheet cashed up rather than indebted.

[q1w2e3r4t5] 16/5/2014 18:47

How much cash will there be once the litigation finance debt and outstanding deferred payment (£3m) for the gas turbine bought in June 2013 have been settled, and how much have they spend on operations, litigation and capex over that period?

[swooped] 14/5/2014 18:46

azioni2, have a look here, maybe to do with the growth issue? If PE reads this perhaps he could tell us if he knows?

[azioni2] 14/5/2014 09:57

Does anybody know why stamp duty is still payable on RUR shares? I understand most AIM companies are now exempt but it is down to each individual company to apply for the exemption, ie. it does not happen automatically. Any reason why RUR wouldn't do that?

[gerhart] 14/5/2014 09:29

Oh well I guess we'll get an RNS today. Maybe not what we'd hoped for; but if we haven't repaid birdsong "in first two weeks of May" as previously suggested, then they BOD will have to say why.

[jeddicat] 13/5/2014 17:47

Anybody know why we have had all those sells on this afternoon, and any idea's on the 1,800,000 Sell on the 9th May?

Though I am guessing todays sells were due to the 1.8million, except that the 1.8m
Sell was put on last thing?

Thanks

[swooped] 12/5/2014 15:05

well still time for an RNS, maybe even in the morning, for sure it has to be close.

[gerhart] 12/5/2014 15:00

Swooped I was just logically thinking how does Co possibly pay Birdsong "in the first two weeks of May" if the money isn't in the bank account today. I suppose tomorrow is only the 13th May! lol

[swooped] 12/5/2014 10:32

Don't know about today but one would expect certainly this week.

[swooped] 07/5/2014 15:17

No I have no association other than holding a large load of shares

[kinbasket] 07/5/2014 15:12

Swooped

You always seem very keen to jump to the defence of Rurelec, do you have any association with them other than as a shareholder ?

I think asking who the litigation funder was is a fair question and I hope to make it to the AGM to ask it.

It looks to me that the loan was put through Rurelecs Birdsong subsidiary (registered in the BVI) in order to keep the ultimate lender anonymous. How do we know it isn't a related party ?

[swooped] 07/5/2014 12:21

It seems to me that some of the comments are being rather unfair towards the company. I'm sure no one is that impressed with how Bolivia has acted but I believe Peter and the Rurelec team have been working extremely hard to get all of these things sorted with the most favorable outcome possible for all concerned i.e. Rurelec and the shareholders.

Bolivia will have been aware that the Birdsong loan will have been due and will I'm sure have used that to negotiate the payments, I think Peter has done a great job under the circumstances, the Chilean sea case is not due for a couple of years yet and so Bolivia were not going to be phased by that and may have prevaricated for a long time leaving Rurelec in an awkward position as regards the loan. Under the circumstance we have an out come that will allow the loan to repaid with money in the bank, albeit less that we wanted.

What I think the board should be concentrating on are the future prospects, with a current Nav of around 12 - 13 pence we are currently trading at almost 50% discount to NAV, the Bolivian award behind us should now give rise to many positives;

1. The Santiago listing, I believe this has been held up due to the uncertainty of the Bolivian payment thus not knowing what value to place on listing, this should now be resolved, and as already stated and in evidence power companies generally trade at a premium to Nav in Chile, thus due to arbitrage itself a listing in Chile will undoubtedly raise the share price in the UK to come into parity and trade closer to Nav, thus a potential capital appreciation on listing along of circa 50% here. Then we have;

2. Cash coming in from Argentina.

3. As stated in past RNS's and part of Rurelec's strategy is to create partnership deals in Chile and Peru, I should imagine these will be being worked on in the background which sound be a very positive more and also create uplift in the share price

There are many other deals also going on the background which with the Bolivian award out of the way will allow Rurelec to start to realise their future strategy. I would not be surprised to see a corporate update released once the payments are made and to finally see a lot of unanswered questions clarified so we can move on.

[meijiman] 06/5/2014 14:41

you should have a look at the RNS from 2 July 2012 re the $15.45m 12% loan.
But it does not tell you who is behind the Birdsong loan though I'm sure some people know.