Rurelec Share Discussion Threads

[amrishbhim] 19/8/2020 12:21

Main reason why it's looking good, something positive for Wednesday reading from the guy who knows his stuff the riddler from LSE

[amrishbhim] 19/8/2020 12:19

It not, read riddler info on the company than talk

[amrishbhim] 19/8/2020 12:18

From Riddler in LSE boardExcellent, everyone should read4p -6p targetToday 12:04#RUR Rurelec South American focused clean energy company with a tumultuous past 10yrs.• Market cap £3mln/ 0.7p• NAV at last accounts 3.7p ( this doesnt take into account the $21mln owed to it by PEL, nor any asset sales in Chile or Argentina)• Post year end recieved £1.1mln and with £700k in transit from an ongoing Argentine asset. RUR still owed 75% of the $21mln CLNS outstanding from Patagiona Energy Limited (PEL)• Holding enough cash for at least 12mths as part of a post C19 stress test.• Admin reduced and losses reduced to negligible after paying back all £1.2mln of a loan which then released all asset security over RUR assets.• A share capital reduction planned as early as 2014 has allowed £14,620,000 ( £14mln) to be distributed to long suffering holders, either as a dividend or as a share buy back.Key timeline 2010 Bolivian aasets seized by nationalist government.2014*- Rurelec PLC now received the payment of USD31.5 million that it agreed with the Bolivian government, after a four-year battle to get compensation for a stake in the country's largest power producer that was taken from it* £45mln was kept in a "special reserve account " which was prohibited from being accessed until the company had settled all debts ( now in 2020 that has been achieved)2015Major 46% holder Sterling Energy goes into administration and as of 2020 is still hopeful of RUR delivering shareholder returns. 2016Rurelec has entered into and fully drawn down a short-term loan facility with Bridge Properties for £850,000. ( as shareholders did not want to raise equity following the administration of major holder Sterling.) NB this loan was extend to £1.2mln and fully paid in Dec 2019.November 2019Recieves $640k from PEL Dec 2019Repaid all of the outstanding balance of a £1.2mln loan which then frees all rights to RUR assets and means assets are wholly back in RUR ownership.March 2020Recieved $1.4mln ( £1.1mln) from the PEL asset.June 2020 Results Year end Dec 2019 and very detailed forward looking statment regarding assets, monies owed to RUR and the AGM resolutions for capital reduction programme. July 2020$280k recieved of PEL payments with $21mln outstanding August 2020 Capital Reduction upheld via court sanction and will be filed with companies house. This allows the distribution of monies from the £14mln share capital account AND the $21mln CLNS owed to RUR , plus any asset sales ( in talks for 12mths)

[newtoaim] 19/8/2020 12:16

Pump and dump or what

[golden prospect] 17/8/2020 22:02

News due on filing at Companies House

[golden prospect] 16/8/2020 11:10

Conclusion of RUR saga in sight, 561m shares in issue so at 0.7p the Mkt Cap = £3.9m
Debt free and restructured balance sheet appears ready for some action
RUR owns 50% in Patagonia Energy (PEL), and Argentina recently resolved $65bn bond refinancing so exchange restrictions may now be eased

PEL owes Rurelec $15.2m [£11.7m] + RUR owns two 701DU turbines worth $9.4m [£7.2m]

Stored valued, update expected Monday 17th August 2020

[novicetrade68] 10/7/2020 19:24

10/07/2020 2:50pm
UK Regulatory (RNS & others)

Rurelec (LSE:RUR)
Intraday Stock Chart

Friday 10 July 2020

Click Here for more Rurelec Charts.
TIDMRUR

RNS Number : 7163S

Rurelec PLC

10 July 2020

10 July 2020

Rurelec PLC

("Rurelec" or the "Company")

Partial Debt repayment

Further to the announcement of 6 March 2020 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that Rurelec have received a further US $280,000 by way of partial repayment by Patagonia Energy Limited ("PEL") of the Amended and Restated Loan Notes.

The balance outstanding on the loan notes is approximately US $20.92 million with the first US $5 million of repayment shared 80/20 between Rurelec and Basic Energy Limited, the ultimate shareholders of PEL, and then the balance paid 72:28 thereafter (Rurelec: Basic Energy Limited). The total amount owing to Rurelec is now US $15.2 million.

There can be no guarantee as to when any further loan repayments will be made. Further updates will be provided in due course.

For further information please contact:


Rurelec PLC W H Ireland (Nomad & Broker)
Simon Morris, Director Katy Mitchell
Andy Coveney, Director Lydia Zychowska
Tel: [phone] Tel: [phone]

[golden prospect] 01/7/2020 11:27

Yesterday's vote confirms no share dilution, but more important is agreement on capital reorganisation paves the way for substantial special dividend payment if assets are realised.

[golden prospect] 25/6/2020 19:13

Latest time and date for receipt of a proxy 11.00 a.m. on 26 June

Annual General Meeting 11.00 a.m. on 30 June

Record date for the Capital Reorganisation 6.00 p.m. on 30 June

Admission of New Ordinary Shares and issue of Deferred Shares 8.00 a.m. on 1 July

Despatch of share certificates to certificated holders 14 July

Expected date of Court hearing to confirm the Capital Reductions 31 July

Expected effective date for the Capital Reductions 1 August

[golden prospect] 10/6/2020 19:05

Assets to be realised

[golden prospect] 01/6/2020 13:12

Post Y/E funds received from its JV £1,129k plus £774k on its way.

[novicetrade68] 01/6/2020 09:52

Very interesting news today, share seems to have fallen completely off the radar, but looks like some talk going on about a redistribution to share holders.

[novicetrade68] 27/5/2020 20:00

May be this share is now finally getting a penny extra, I've always had the feeling Bolivia's appropriation of Rurelecs' energy site is not something the country is going to get away with even though it happened a 'long' time ago.

hxxps://zn.ua/conflict_of_interests/no-win-no-fee-354160_.html

[novicetrade68] 06/3/2020 08:29

Hm, market still reserved it seems..

[novicetrade68] 18/2/2020 15:30

Project Name
Central Illapa, Mejillones

Location
Mejillones, Antofagasta

Capacity
256 MW nominal with the potential to increase to 358 MW

Technology
OCGT (potential for phase II CCGT)

Equipment
701D gas turbines

Fuel
LNG (imported)

Additional details
Central Illapa is a 256 MW open cycle greenfield gas fired power development of which Rurelec owns a 100 per cent. interest

The project has the potential to convert to a 358 MW combined cycle power plant as part of its second stage development

[novicetrade68] 18/2/2020 15:26

Nombre del proyecto
Central Illapa, Mejillones

Localización
Mejillones, Antofagasta

Capacidad
256 MW nominal with the potential to increase to 358 MW

Tecnología
Ciclo abierto (potencial para una segunda fase en ciclo combinado)

Equipo
2 turbinas a gas 701D

Fuel
LNG (importado)

Información adicional
Central Illapa es una planta termoeléctrica (en proceso de desarrollo) a gas 256 MW de ciclo de la cual Rurelec es propietaria al 100 por cien. El desarrollo inicial de la planta fue realizado por IPC e Invener S.A. El proyecto tiene potencial para convertirse en una planta de 358 MW en ciclo combinado como parte de la segunda fase.

[novicetrade68] 06/2/2020 20:26

keeping an eye on

[novicetrade68] 06/2/2020 20:26

!FOLLOWFEED

Project Name
Central Illapa, Mejillones

Location
Mejillones, Antofagasta

Capacity
256 MW nominal with the potential to increase to 358 MW

Technology
OCGT (potential for phase II CCGT)

Equipment
701D gas turbines

Fuel
LNG (imported)

Additional details
Central Illapa is a 256 MW open cycle greenfield gas fired power development of which Rurelec owns a 100 per cent. interest

The project has the potential to convert to a 358 MW combined cycle power plant as part of its second stage development

[novicetrade68] 04/2/2020 21:31

Surprised to see such a large sell at this stage when they're returning to profit this year.

[novicetrade68] 03/2/2020 15:27

Currency controls to be lifted soon, should help recovering more pesos/US$ and start making a move towards a special dividend for share holders.

[novicetrade68] 21/11/2019 07:33

Good development..

21 November 2019

Rurelec PLC

("Rurelec" or the "Company")

Agreements with Basic Energy Limited and other parties, and note on foreign exchange controls in Argentina

New Agreements

The Directors of Rurelec PLC (AIM: RUR) announce that on 20 November they have signed (1) an Amended And Restated Shareholders Agreement ("SHA") with Basic Energy Limited ("Basic") and Patagonia Energy Limited ("PEL"), and (2) an Umbrella Agreement ("UA") with PEL, Basic, Rurelec Project Finance Limited ("RPFL"), Energia del Sur SA ("EdS"), Electrica del Sur S.A. ("Electrica"), and Rurelec PLC Sucursal Argentina.

-- The SHA amends the constitutional relationship between Rurelec and Basic, who are both 50% Joint Venture ("JV") partners in PEL.

-- The UA sets out a new schedule for the repayment of unsecured debts owed by PEL to both Rurelec and Basic by way of the Amended and Restated Loan Notes ("ARLNs"), the terms of which are set out below.

-- By joining EdS and Electrica into the agreement, the UA also regulates the cash distributions to be made by EdS and Electrica to PEL.

-- Finally, by joining RPFL into the agreement (a wholly owned subsidiary of Rurelec) the UA sets out the basis for the release of the secured Facility Agreement between EdS and RPFL. This is the same EdS Senior Debt acquired by Rurelec Project Finance Limited from Standard Bank in March 2011 and repaid in full on 30 May 2019.

The objective in signing these Agreements has been to enhance and maximise the flow of cash remittances from EdS (PEL's operating subsidiary) to Rurelec via PEL by formalising arrangements governing the flow of funds from Argentina and by more closely aligning the interests of Rurelec and Basic.

Summary of Changes

The key constitutional changes to the SHA are:

-- Permitted share transfers;
o To allow part of Basic shareholding to be transferred within Basic stakeholders without triggering the right of first refusal;

o Payment to shareholders:

-- PEL group cash position to be reviewed on a monthly basis to consider making repayments or distributions;

-- ARLNs to be repaid in accordance with their respective terms and the UA;

-- Dividends will not be paid out until the ARLNs have been repaid in accordance with their respective terms and the UA;

-- The first $5.7 million of dividend distributions by PEL will be split in the ratio 72:28 (Rurelec:Basic);

-- After that, further dividend distributions to the JV partners will be on a 50:50 basis.

The key provisions of the UA are:

-- Formal monthly obligations on EdS to review cashflow and to remit all permissible surplus cash to PEL and in turn on PEL to remit such funds to Rurelec and Basic in accordance with a "waterfall" arrangement of the UA as follows:

o The first US $5.0 million of debt repayments by PEL will be split in the ratio 80:20 (Rurelec:Basic); and The next US $18.9 million of debt repayments by PEL will be split in the ratio 72:28 (Rurelec:Basic).

-- Customary default provisions for both Rurelec and Basic having the right to default interest.
-- Rurelec and Basic agree to waive any claim to interest on past monies loaned to PEL and for there to be a global release of past debts, obligations and liabilities. The Board of Rurelec has for many years provided in full for the uncertain interest on these monies.

-- Debt capital to be defined by the establishment of new ARLNs.
-- If EdS/Electrica/PEL is unable to pay either of the JV parties due to exchange controls in Argentina, it will set aside the funds until it is able to pay both parties.

-- The release of the secured Facility Agreement referred to the Company's announcement of 30 May 2019.

Whilst these new provisions determine how funds generated by PEL will be distributed, the timing of these payments is not certain as it is dependant inter alia on the potential future cash generation ability of EdS and the potential future existence of exchange controls that may restrict the ability of EdS to transmit funds to PEL (see below).

The key provisions of the ARLNs (in accordance with the terms of the SHA and the UA) are:

-- No interest accruing;
-- Events of Default and Default Interest of 14.32%;
-- Repayment by PEL of outstanding principal on the maturity date (31.12.2039); and
-- Prepayment of outstanding principal is permissible to both lenders (Rurelec and Basic) without premium or penalty.

Exchange controls imposed by the Argentine Central Bank

The Directors note that exchange controls have been imposed in the wake of the latest financial crisis in Argentina, where the Company operates. Due to the exchange controls imposed on US dollars by the Argentinean Central Bank ("BCRA"), any repayment of debt between a subsidiary and its parent company needs the approval of the BCRA. As a result, the local management team of EdS is looking at alternative ways to purchase US dollars to fulfil their obligations under the UA. The local management team is also receiving legal and banking advice in Argentina. EdS management expects to be able to transmit further debt repayments and dividends to PEL (which is based outside of Argentina) but Rurelec's Board notes there can be no guarantee that any route will not also be blocked by further exchange controls measures introduced by the new Argentine government. Accordingly, there can be no guarantee that any cash can be remitted to PEL in the foreseeable future, nor that any monies can, in turn, be remitted to Rurelec. Whilst this is not a problem for the Company in the short term, it could ultimately result in liquidity problems for Rurelec if it was not resolved.

The Directors will continue to keep the situation under review and further updates will be made as appropriate.

For further information please contact:


Rurelec PLC W H Ireland (Nomad & Broker)
Simon Morris, Director Katy Mitchell
Andy Coveney, Director Lydia Zychowska
Tel: [phone] Tel: [phone]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

[novicetrade68] 13/11/2019 20:50

Will be interesting to see whether the Bolivian settlement can be voided now.

[johncasey] 17/10/2019 23:54

yes ridiculous share price at the moment...but this is one of Great steps shares so doesnt surprise me..his are all rigged