Investor Soiree Butler Rurelec RUR.L

RurelecRurelec PLC was established to develop, own and operate power generation capacity in Latin America. Rurelec is managed by a team with a strong track record in developing power projects worldwide and with considerable experience in the electricity sector in Latin America. Rurelec's main business consists in the ownership and development of power generation facilities on the national grid and in isolated areas, selling electricity on commercial terms. The Company is now a significant power generator in Bolivia and Argentina.
Take me straight down to the chat Rurelec is trading below the moving 50 day average and below the moving 200 day average on below-average volume.
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  • Re: Hands UP ! by TheGreatGame
    Thu, 23 Jul 2015 07:21:00 GMT

    Chill, have a margarita.. By TheGreatGame
  • Re: Hands UP ! by lambrini girl
    Fri, 17 Jul 2015 07:11:00 GMT

    good news..hotting up.. By lambrini girl
  • Re: Hands UP ! by lambrini girl
    Thu, 16 Jul 2015 10:19:00 GMT

    machine short target hit now a BUY.. By lambrini girl
  • Net worth by scotguyinsuffolk
    Wed, 15 Jul 2015 16:35:00 GMT

    The market is now saying this company is worth less than 10 million pounds , and yet last year it received a cash payment from Bolivia of 19 million pounds ???? Even if we ignore all the business in the meantime ....how has 9 million disappeared ????

    Any ideas , guys ? By scotguyinsuffolk
  • Re: Hands UP ! by lambrini girl
    Wed, 15 Jul 2015 11:34:00 GMT

    >>SELL...50% off sale here..2p target<<>>>Hi LG great to have you on board, but please do your research before you post utter tripe,<<<BANG ON!!....enjoy the tripe LB..
    By lambrini girl
  • Value of Rurelec by Leicesterboy
    Wed, 15 Jul 2015 11:30:00 GMT

    We are now worth £11.23 million !
    I think the 2 Turbines for one of the projects cost £5 million !
    They need to get there derierres moving, there is more going on than we know.
    LB By Leicesterboy
  • Re: AGM Result by Leicesterboy
    Tue, 14 Jul 2015 20:50:00 GMT

    I tend to agree, I think the deals on the Sale of the Peruvian assets is done, so they struck quickly to protect themselves Sterling has paid 9 pence per share !
    LB By Leicesterboy
  • Re: AGM Result by swooped
    Tue, 14 Jul 2015 17:38:00 GMT

    Well as we are all underwater here I feel at this stage it better to be the eternal optimist, only if truth be told I have no option, but to my mind a few things could be occurring; 1. an MBO or 2. in my belief something more positive. Let’s assume for one minute that Sterling had had enough of Peter Earl and his continual failures, what might I do in that situation, well as the controlling shareholder the first would be to get rid of the lead offender i.e. Peter and if the assets were, and are worth as much as we were led to believe and I guess they are, Arica is certainly a great asset then the next thing would be to clear out the board, tie up a partnership with a third party, and rerate the company on great assets and a partnership deal with clout. This would also be achieved by Sterling relinquishing a large shareholding. It is of course all speculation but an MBO would be of no use without the financial backing of a major partner prepared to invest. At this stage I am prepared to hang on in, with a small float any selling now would be pointless as the sp would be obliterated. Sterling are not stupid they have their roots in banking, Arthur Anderson and all the top names, they will I expect know what they are doing and I find it hard to see how they can stitch up the shareholder without stitching up themselves, being as it were so deep in the mire themselves, they are after all shareholders as well and at far far higher prices than the sp shows today. By swooped
  • Re: AGM Result by daw2905
    Tue, 14 Jul 2015 17:14:00 GMT

    Thanks LB

    Dw (another Leicesterboy!)
    By daw2905
  • Re: AGM Result by Leicesterboy
    Tue, 14 Jul 2015 16:41:00 GMT

    I do tend to agree Sterling are throwing their weight around, they have a huge shareholding, and are probably fed up with the way things have gone or going !
    LB By Leicesterboy
  • Re: AGM Result by Leicesterboy
    Tue, 14 Jul 2015 16:38:00 GMT

    I have no idea, but no one seems to be selling ! and there would have been people there, I am sure all will be revealed ! Good or Bad.
    LB By Leicesterboy
  • AGM Result by daw2905
    Tue, 14 Jul 2015 16:16:00 GMT

    Hi all,

    Did anyone go along today to see what happened? Seems we have re-appointed the auditors and nothing else. I presume it was Sterling throwing their weight around, and we seem to have fewer directors now. But what is the background to all this? Can anyone shed any light please?

    Thanks
    Dw By daw2905
  • Re: AGM questions by Leicesterboy
    Tue, 14 Jul 2015 13:25:00 GMT

    Its been and gone anyone on here went to it !
    LB By Leicesterboy
  • Re: AGM questions by daw2905
    Mon, 13 Jul 2015 23:49:00 GMT

    I too would appreciate answers to those questions.
    Dw (also a lth) By daw2905
  • AGM questions by oldie1
    Fri, 10 Jul 2015 14:44:00 GMT

    I continue to hold a substantial number of RUR shares and have sold none. However, recent events and missed deadlines etc have been unsettling.

    Unfortunately, I will not be able to attend the AGM next Tuesday. Were I to do so, my questions to the board would include those below:

    • Regarding the “spin-out” of IPC and the related RNS announcement of 19/6/15, I assume that the “principal assets” of IPC which have been transferred to RUR do not encompass what really counts, namely IPC’s intellectual property, its contracts, its goodwill etc. IPC appears to be a valuable business and I recall that it was touted as such when it was acquired by RUR. Given this, why has IPC been, it would appear, gifted to the former CEO? What independent scrutiny of that transaction was undertaken at the instigation of the board?

    • The loan arrangement with Radix seems unusual. Radix is not a mainstream lender and tracing its family tree of related people and companies yields some interesting connections. It would therefore be helpful to have clear answers to a few questions on this. What is the remaining balance and what are the key terms of the Radix loan? What are the connections, direct and indirect, other than as lender, between Radix and RUR? Have any transactions taken place between Radix and its connections and RUR’s group apart from the loan? What other financial/business arrangements, if any, are in place between Radix and its connections and RUR’s group?

    • What are the key terms of the US$12 million “bridging loan facility” and the “one year strategic loan” mentioned in an RNS announcement on 19/6/15? Who is the lender in each case? Are there any connections, direct or indirect, other than as lender, between each lender and RUR?

    • What action has been taken to prevent future occurrences of such events as the release of RNS announcements that subsequently have to be corrected, RNS announcements that should have been released after market hours being released before the market closes etc?

    • The current position and the board’s assessment of the future prospects of RUR have, in my opinion, been communicated to shareholders very unclearly. RNS announcements have tended to conceal more than they reveal, leaving obvious questions unanswered. This is very unhelpful, cannot all be attributed to commercial confidentiality and leads one to perhaps unwarranted and worrying conclusions. Clear answers to the big questions are thus long overdue. What is the current solvency and liquidity position? When are the various expected payments and receipts heralded and repeatedly delayed over recent months actually going to occur? What plans for the development of the business are afoot? When, realistically, will those plans come to fruition? …. and so on and so on.

    Some of these questions may have been partly answered by RUR already, in which case I apologise for having missed that. Others reading this post may have other salient questions to add to my list.

    The board would, quite legitimately, be able to duck most if not all of these questions citing AIM rules on communicating with all shareholders simultaneously and/or commercial confidentiality. However, at least asking them would give the board a clear list of matters that unconnected and concerned minority shareholders (including PIs) expect to see answered as part of a new and more open approach to investor relations. We may then reasonably anticipate most of the answers following in RNS announcements over the coming weeks.

    The board should also be familiar with the fact that minority shareholders are not powerless. Moral suasion is a powerful force which it would be unwise for the board to ignore as, in extremis, legal protections are available to minorities. However, my stance generally is to trust and support the board, unless and until evidence arises that that trust is not merited. One would hope that the RUR board would welcome well-intentioned i By oldie1
  • The new BoD is not immune ... by goodflyingduck
    Fri, 31 Jul 2015 17:59:12 GMT

    .... from the, as yet, unfulfilled promises made by PE/the old BoD. IMHO we wait and see how things play out. If the new BoD can bring to fruition other the "contracts" that we have been told were in the bag, then we might yet see a reasonable recovery in the sp. To that extent, the sale of Canchayllo should give us all some cause for hope. A 50% stake in Illapa is, we have been told, worth $30m. Let's hope they're finally able to put that one to bed, too, in short order. GFD
  • madchick by KAMEL17
    Fri, 31 Jul 2015 16:15:44 GMT

    This could go two ways The stream of bad/no news continues for a while, the price drifts and the Board accept an offer for a piddlt amount per share to take the company private. This in my view is the most likely option The new Board actively and successfully dispose of the assets and realise a sum well in excess of the current share price (although at far less than NAV) I'd not spend too much time here - it's just an investment that went bad and any recovery at all here will be an unexpected bonus. Let me just say in advance before we once gain enter "fluffy bunny territory". There is no prospect of Peter Earl and other larger holders keeping the new BoD honest. Despite all the RNS's this has obviously been ill tempered and far from amicable. We have just got to hope that the new BoD aren't as greedy as the last lot were lacking in an ability to tell the shareholders the truth. The low SP simply offers them a chance to allow them to offer a premium over this price and dress it up as a victory.
  • Given up by madchick
    Fri, 31 Jul 2015 05:50:35 GMT

    I've given up trying to understand what's going on and am too fed up to try. But would be very interested to hear anyone who has the energy left to have any further thoughts about it all.
  • Losing by NMH19
    Fri, 31 Jul 2015 01:38:02 GMT

    A little faith here right now... Nothing a couple of epic announcements and a re-rate would not put right
  • IPSA RNS today by Gerhart
    Thu, 30 Jul 2015 13:57:34 GMT

    RNS out today on IPSA and also about payments from us. What do we make of that. No surprise PE is gone I guess.

    link

  • RE: Mark Keegan by madchick
    Thu, 23 Jul 2015 20:06:55 GMT

    I would have thought he would have wanted to have retired by now? Let's hope that at least he knows what he's doing even if none of us do!
  • Mark Keegan by jeddicat
    Thu, 23 Jul 2015 18:10:37 GMT

    Mark Keegan (67) was appointed to the board of Stirling Trust Limited in June 2015. In at the deep end then?
  • No further forward by madchick
    Thu, 23 Jul 2015 16:20:00 GMT

    I also don't get it. None of it adds up and I feel quite fed up. No wonder they didn't vote against Grant Thornton given that they've given them a seat on the Board.
  • RE: Radix Loan by Leicesterboy
    Thu, 23 Jul 2015 10:06:57 GMT

    They only drew £840000 of the available Loan of £3 million at least that is what we have been told all very odd ! LB
  • RE: Radix Loan by Uksteveg
    Wed, 22 Jul 2015 21:19:47 GMT

    Leicesterboy - Dawna Stickler seems to have a few connections to the late Phil Metcalf of IPSA, serving as a director on companies he was involved in, Sinead Irving , as well as being a co-director of a number of companies with Stickler, also had connection to Metcalf in this respect.
  • RE: Confused by Leicesterboy
    Wed, 22 Jul 2015 15:37:41 GMT

    Hi GFD, just used the Beta at Companies House thank you for that, as you say all change at Sterling, they are late with their Annual Return which is unusual as its really only "tick box" form ! I wonder if they realise ? I do not think it will be a takeover but a Sale of the business in whatever form that takes, I note from the March RNS that they are trying to " release and repay in US Dollars the bulk of the Project Loans to its Energia del Combined cycle gas plant" these amount to £23.094 million at 31st December 2014 and continued to repay Rurelec its Monthly repayment as stated in RNS dated 2nd March. LB
  • RE: Confused by goodflyingduck
    Wed, 22 Jul 2015 11:00:11 GMT

    I expect that we'll get to learn a lot more once the new Executive Directors have taken up their places on the BoD and, very probably, with a change of Chairman too. There seems to have been recent Directorate changes at Sterling which may explain the way in which Sterling cast their votes at the AGM. As to the qualifications and experience of those gentlemen, we'll just have to wait for disclosure once the NOMAD has done his bit "vetting" them. As time passes, the likelihood of a takeover by Sterling grows more remote in my opinion. We must just be patient ... as ever before. Radix looks, to me, to be a single purpose entity - one created solely to loan money to RUR; the big question is who stands behind the "anonymous" façade of that co. ? Of course, we'll never know but we do know that Radix and RUR transact their business in such a way that suggests they are far from being at arm's length. Same goes for IPSA whose largest single shareholder is Sterling. GFD
  • RE: Confused by Leicesterboy
    Wed, 22 Jul 2015 10:02:57 GMT

    I agree ! I would like to know what has gone on since the March RNS and even the Chairman's report date 18th June ! I suspect they hope to re-negotiate the Loan from Radix, and use the money to further advance the Chilean Projects, plus increase the capacity in Argentina ! We are really completely in the dark !
  • Confused by Gerhart
    Wed, 22 Jul 2015 08:46:22 GMT

    On reflection, in managerial terms and impact on the Co SP, I think Sterling's approach hear didn't amount to much more than an angry bull in a china shop. Yet they have been "in the know" in detail for a very long time. I naively thought they would have good senior people to replace those they beheaded and have a plan they would annouce. And I'm not sure how this all works legally...how do they get rid of directors and simply decide to put their own in? And why hasn't someone explaned the apparent discrepancy in funds apparently received and those paid out, if I am understanding recent statements from here and IPSA.
  • RE: Radix Loan by Swooped
    Mon, 20 Jul 2015 16:56:08 GMT

    You've been looking in the wrong place, try using companies house new Beta search you can find all you need.

    link