Turbo Power Systems Share Discussion Threads

[wilfy75] 08/5/2013 14:22

Is there any insight as to why this remarkable share is getting no attention on here whatsoever? Should I be looking at a different thread?

[sp2] 30/4/2013 08:29

And more JK!
Regards
SP2

[janekane] 29/4/2013 17:20

SP to double

[proothi12] 24/4/2013 10:16

SP2 what does that mean?

[sp2] 24/4/2013 10:15

Big bucks here! Draw your on conclusions Get real punters xx

[sp2] 16/4/2013 10:02

Don't be foolish! Hold tight folks

[shenks] 02/4/2013 12:00

Turbo Pwr Systems
Loan Agreement and contract announcement
RNS Number : 2325B
Turbo Power Systems Inc
01 April 2013


2 April 2013

Turbo Power Systems Inc.
("TPS" or the "Company")

Amended Loan Agreement & Development Study Contract

TPS, the innovative electrical machines and electronic systems provider, announces an extension to its existing loan agreement with TAO Sustainable Power Solutions (UK) Limited ("Tao") (the "Existing Debt") and, separately, that it has secured a commercial contract to assist Vale Soluções em Energia ("VSE"), Tao's parent company, in a study of subsea power distribution concepts for the oil and gas market in Brazil.

Extension Loan

TPS' wholly owned UK subsidiary, Turbo Power Systems Limited ("TPSL"), has today entered into an agreement to amend its existing so as to extend the existing finance facility provided by Tao to TPS by a total of £2.10m (the "Extension Loan") to a total of £8.02m.

The Extension Loan provides working capital in support of the Company's trading whilst certain new contracts remain under negotiation. The Extension Loan represents an amendment to the agreement in respect of the Existing Debt (as previously notified and amounting to £5.92 million). Accordingly, the terms of the Extension Loan mirror those of the Existing Debt notably that it will be repayable on 1 April 2014, carries an annual interest rate of 6.0%, payable quarterly in arrears and be secured on the assets of TPSL. It is intended that the Extension Loan is to run for its full term.

The directors of the Company continue to consider a range of further options to address the Company's financing requirements.

VSE Contract

TPS is pleased to announce that it has entered into an agreement with VSE worth £0.2 million to work on the initial concept phase of a study into subsea power distribution for the oil and gas industry in Brazil, which is scheduled to run for a period of twelve months.

Carlos Neves, Chief Executive Officer of TPS commented:

"Our relationship with VSE gives TPS a very real opportunity to penetrate the Oil & Gas market in Brazil, which is a key global target market for our technology and aspirations, as set out in our recent final results announcement. Whilst this contract is by itself modest, we are optimistic that it may lead to further work as the project progresses past initial concept phase.

We are pleased that Tao continue to provide us with the financial support that our business requires as we continue to realign the Company's focus and as we work to seize upon commercial opportunities such as that announced today."

Related Party Transactions

VSE is the parent company of Tao, which holds 89.4% of the issued share capital of the Company, and both are therefore related parties for the purposes of the AIM Rules for Companies ("AIM Rules"). Accordingly, the entry into the agreements as set out above with Tao and VSE constitute related party transactions for the purpose of the AIM Rules.

The Company's independent directors consider, having consulted with finnCap Ltd, the Company's nominated adviser, that the terms of the transactions being entered are fair and reasonable insofar as the Company's shareholders are concerned.

[petersmith3] 02/4/2013 11:29

PUR

Techinvest have added PUR to their portfolio @5p citing the significant repayment of debt and improved cash flow as a major step for long term stability.

Techinvest is obviously a very well-respected and influential publication, with a long track-record of great success.

Performance of their New Year Nap Tips since 1991:
Average high 100.5%
Average year-end 40.8%


Nearly all buys today.

[swizz] 02/4/2013 07:56

You do sense the parent company will not let this go, with 89.4% shareholding it is a fairly persuasive reason!.....GL S

[stack] 02/4/2013 07:54

Positive news to start the month.

[janekane] 25/3/2013 17:28

next news of contracts will make this a great day trade

[akaaur] 21/3/2013 11:09

check out SOLG MEGA MOVE COMING

[s34icknote] 21/3/2013 08:44

This company wins contracts that loose money.
In the construction industry this happens when you price a job wrong!!!!!
Your very busy but loose money.
Just like tcg.
This is a pure punt gamble for day traders.
Good luck if your quick enough

[34simon] 21/3/2013 08:06

One word, bonkers !

[34simon] 21/3/2013 08:00

And charging them full offer, mm dream :-))

[34simon] 21/3/2013 07:59

Wish I could, it would be free money like last time 1p bid to 0.35p offer best

[sapper2476] 21/3/2013 07:58

So you will be short after yesterdays rise then.... GL...

[34simon] 21/3/2013 07:57

Trap well and truly set with a 0.2p spread, bet they still chase, will need
a 30% rise from here just to make a profit.

[34simon] 21/3/2013 07:32

Crazy, I bet they do chase again, the contract is nothing for this company, it will not change how much they lose but the mugs will chase but that is their problem.

[knigel] 21/3/2013 07:17

Another contract win - so another spike just for you user_250148.

[scientologyweirdo] 19/3/2013 14:31

What a terrific and terrifying spike that was if you got impaled on it

[unkwn] 13/3/2013 17:55

Jenny, good job you didn't and I did say gamble. :)