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.
Visit the Rurelec website.
Follow the trades of top traders with Ayondo.
Buy shares in Rurelec for only £7.95 with SVS Securities.

114 of 1492
Overall Rating
Click for the Top 100
4 of 15
Utilities Rating
Click for all the Utilities Ratings
Previous Close
Real time prices at ADVFN
only £7.95 per prade – no matter how little or much you trade

Rurelec discussion on ADVFN


Get up to speed on all the Rurelec discussion over on ADVFN's excellent UK investor forums.

Select from 1492 Investor Soiree share pages

or check out the Investor Soiree Top 100 Shares by Rank list.

Spread the good Rurelec word on social media

or follow Investor Soiree on Twitter, Facebook, Google+ and Linkedin.

  • Re: Shareholders meeting by NicholasNameless
    Tue, 01 Dec 2015 03:05:00 GMT

    Sterling: "I presume it doesn't have cash to satisfy creditors ...hence administration"
    The last set of accounts were heavily qualified by the auditors.

    This outcome is concerning. Pointless to table an Open Offer without the Administrator on board. By NicholasNameless
  • Re: Shareholders meeting by broomfielder
    Mon, 30 Nov 2015 18:51:00 GMT

    Appreciate your feedback from the GM scotsguy and thanks for sharing your views.

    Given the size of Sterling Trust's shareholding in Rur, the actions of it's Administrator was always going to be pivotal to any attempts to restructure Rur's capital.

    Given how matters appear to have evolved, perhaps now we can have the 'horse trade' that both parties might just benefit from.

    B By broomfielder
  • Shareholders meeting by scotguyinsuffolk
    Mon, 30 Nov 2015 18:31:00 GMT

    Perhaps I should elaborate further re Sterlings position.

    Currently majority shareholder in a business that needs a decent amount of cash.

    I presume it doesn't have cash to satisfy creditors ...hence administration

    Totally understand wishing to preserve their shareholding but they have not made any proposal concerning the need for cash and I expect they are incapable of any assistance whatsoever.

    Other shareholders could have come to the rescue . This often happens in startups where the company finds it takes longer to get established , runs short of cash and needs a white knight. The early shareholders need to swallow the bitter pill of dilution !

    Sterling ( in admin) could have allowed other shareholders to rescue the company.

    Let's see what happens now !
    By scotguyinsuffolk
  • Shareholders meeting by scotguyinsuffolk
    Mon, 30 Nov 2015 18:00:00 GMT

    Whilst I totally agree that the BOD should have sounded out Sterlings administrator before the meeting it would seem that any contact or negotiation prior to the meeting could be construed as preferential treatment and was advised against by the Nomad.
    However I must say that I was totally amazed by the behaviour of Sterlings administrator at the meeting. He proposed a 14 day postponement which was rejected. He had been appointed as administrator in October and received the offer documents along with everyone else. As adminstrator he should be concerned with obtaining value from Sterlings assets - nothing else. He is aware of the need for cash. and yet he left the meeting without putting forward any alternative proposal and without even speaking to the BOD !
    The OO would have funded the business and paved the way for the future. Now we could be faced with a low ball offer from goodness knows who ? And if there is any whiff of Sterlings people being remotely involved I fear litigation will follow . By scotguyinsuffolk
  • Re: Shareholders meeting by broomfielder
    Mon, 30 Nov 2015 17:08:00 GMT

    All very valid observations scotsguyinsuffolk.

    Failure to sound out Sterling's Administrator prior to proceeding with the OO is more than a bit concerning so it does not augur well IMO for the new BoD. It's rather basic after all.

    Look as if Rur are caught in the classic liquidity squeeze where a short term facility is expensive and will soon expire and there is never enough time to realise the sorts of assets (especially given their geographic locations etc) that they have. Expense every which way is the norm.

    We can only hope there may be some good news to announce now that the OO is out of the way (as rumoured on other bb's).

    B By broomfielder
  • Shareholders meeting by scotguyinsuffolk
    Mon, 30 Nov 2015 14:32:00 GMT

    Interesting chatter on other bb ....

    Repatriate funds from Argentina ? Have you ever tried ? You don't end up with much after all the tax ! And what a clear sign to your partners that you are in trouble !

    Sell a turbine to Africa ...for easy cash ? What planet do you live on !

    This company could well be in a downward spiral and Sterling investments is sitting in the co-pilots seat. I don't get the feeling they know how to pull out of a spin By scotguyinsuffolk
  • Shareholders meeting by scotguyinsuffolk
    Mon, 30 Nov 2015 13:58:00 GMT

    Outcome of the meeting was perhaps predictable as Sterling Investments ( or their administrators ) not in favour of the resolutions ! Questions now need to be asked why . ...What alternative strategy do they have ? Or are there vested interests at work ? The adminstrator was asked if he was voting under the instructions of Sterlings shareholders ! He replied he had consulted all parties but if he was swayed by Sterlings shareholders surely that might conflict with the interests of their creditors ! The administrators vote was clearly influenced ! And in my opinion could be discounted which might leave a completely new situation.
    Either way...where is the funding going to come from ? By scotguyinsuffolk
  • Re: Share offer by NicholasNameless
    Thu, 26 Nov 2015 11:07:00 GMT

    To be able to consider uptake, it would seem that it would be most useful to know the outcome of the EGM (or GM is it?). In deed, to be in attendence at the meeting might be rather helpful. Does anyone plan to attend? By NicholasNameless
  • Re: Share offer by broomfielder
    Tue, 24 Nov 2015 19:09:00 GMT

    As suggested by Leicesterboy, an alternative BB has a more active debate taking place on RUR.

    That said, I think any Pvte shareholders will be struggling to evaluate the risks here in the absence of meaningful updated information on everything from asset sales to Project updates including progress on JV discussions etc.

    However the whole sense of having an Open Offer (especially one that is now 'out of the money') is surely questioned by the Administration of Our biggest and majority shareholder, Sterling Trust. I'm fairly sure no PI's have a clue on whether this holding has already been sold on or options granted for its disposal and to whom etc. This is just a tad significant as the Open Offer won't get off the ground if this holding is stymied.

    ST's shareholding and in whose hands this might end up are IMO pivotal here. But it's simply one of a plethora of issues on which we all need some light shed even if only to discount some of the conspiracy theories beginning to abound.

    I'm struggling to think ever having seen a formal Fundraising exercise being undertaken in such an information vacuum but it's looking more and more simply a question of the BoD saying 'trust us, we know what we are doing...!'

    Now if that's still the case come 1 December, then is it the old 'good money after bad' question again?

    B By broomfielder
  • Share offer by scotguyinsuffolk
    Tue, 24 Nov 2015 14:31:00 GMT

    Unless you support the open offer , buying shares on the open market would be pointless ! If the open offer fails we could see the share price collapse further. the current market cap does not seem to reflect the intrinsic asset value of the company so if you believe the directors can turn this around with the injection of funding then you need to support the open offer. Buying shares on the open market doesn't help with the lack of funding. By scotguyinsuffolk
  • Share Offer by Santiago102
    Tue, 24 Nov 2015 13:44:00 GMT

    I have to make a choice before the 27th whether to:
    1. Take up the offer;
    2. Buy shares on the open market;
    3. Do nothing.

    Any thoughts, please? By Santiago102
  • Thanks Leicesterboy by broomfielder
    Wed, 11 Nov 2015 19:57:00 GMT

    I did wonder where everyone had gone!
    B By broomfielder
  • Re: Short Term Facility by Leicesterboy
    Wed, 11 Nov 2015 14:42:00 GMT

    Broomfielder better for discussion on London and South East BB ! More people discussing this share.
    LB By Leicesterboy
  • Short Term Facility by broomfielder
    Fri, 06 Nov 2015 16:36:00 GMT

    From a survival perspective, its good news that the BoD have bought themselves a few months with which they can buy in the expertise to keep the Company operating.

    We don't have details on the cash burn to determine how tight liquidity still is but from previous announcements its likely going to continue to be a struggle.

    No terms disclosed for the Radix facility but it won't be cheap despite it being secured (and after all we are finding difficulty in realising asset values so a lender is likely to discount these very heavily).

    I guess if it's a liferaft we can't be too choosey.

    B By broomfielder
  • Share Price by broomfielder
    Fri, 30 Oct 2015 14:33:00 GMT

    With the SP reducing to the extent that M Cap is now well below the latest adjusted (ie reduced) Net Asset value, the volatility will I guess naturally increase.

    However on the back of some sustained buying today, we are at the time writing UP apparently 80% and nudging 1p per share.

    A leaky ship perhaps????

    While we all hope there may be confirmation of borrowing facilities being renewed or other significant positive development, should this be confirmed 'after hours' then some of these earlier purchases may merit investigation.

    However the main thing is we get some good news for a change.

    B By broomfielder
  • BoD
    Tue, 01 Dec 2015 11:14:24 GMT

    Cont ...
  • BoD
    Tue, 01 Dec 2015 11:13:46 GMT

    In all the long while since Sterling’s coupe at the AGM, no effort has been made by the new BoD to develop relations with PI’s or, indeed, to communicate with them effectively. Recently, the BoD has eschewed the opportunity of addressing valid questions raised by shareholders, blaming their “inability” to do so on the NOMAD. This is arrant nonsense; the NOMAD is an adviser and the BoD is not bound to accept or follow his advice. Certainly, if the advice centred on potential rules breaches, it would be understandable that the BoD would do his bidding but that was not the case; it was, moreover, simply a case of politics and if either/both the BoD and/or the NOMAD thought that it was prudent to effectively stick two fingers up to the PI’s and other shareholders, then they cannot, for a moment, be surprised at the outcome of the EGM.
  • RuR
    Tue, 01 Dec 2015 10:42:23 GMT

    Agree there totally Optimist.
  • Argentina political news
    Tue, 01 Dec 2015 10:21:46 GMT

    I think this article is worth reading:
  • RuR
    Tue, 01 Dec 2015 10:16:59 GMT

    Just finished my trawl of the election news in Argentina and whilst there is nothing new to report, the new political appointments look very positive and pro-business to me. As you say Flightman, the 10 December inauguration ceremony for Marci is the next key date, and I expect to hear to some concrete news very quickly after that on the relaxation of the currency controls and movement of capital.
  • RuR
    Tue, 01 Dec 2015 09:20:46 GMT

    Our largest holder voted down the OO Jeddicat,a poster on iii was there in person.
  • NicName
    Tue, 01 Dec 2015 09:06:17 GMT

    Where are all these 'other' reports, please?
  • Nicname
    Tue, 01 Dec 2015 09:03:34 GMT

    Where are all these 'elsewhere' reports, please?
  • RuR
    Tue, 01 Dec 2015 07:37:17 GMT

    Assets £40M plus Mcap £4M,
  • Cash burn
    Tue, 01 Dec 2015 05:44:30 GMT

    The board now have release to do whatever they consider appropriate. I can't help think that Sterling's shareholders, if influencial in the Administrator's response as reported elsewhere, have just shot themselves in the foot.
  • Meeting result
    Tue, 01 Dec 2015 03:57:31 GMT

  • if anyone attended the meeting
    Tue, 01 Dec 2015 00:49:40 GMT

    Was Mr Keegan questioned on the IPC disposal either fornally or informally and if so, how did he respond?
  • Cash burn
    Tue, 01 Dec 2015 00:46:45 GMT

    Without a credible source of funding it must be inevitable that this will be bought out,. The only real question is the terms of that buyout and whether or not it is preceeded by an insolvency (which strangely and counterintuitivey may not be the worst option).
  • Meeting result
    Tue, 01 Dec 2015 00:31:05 GMT

    1. Can we now safely assume that the proposed Open Offer was not a predetermined and engineered wheeze?
  • Good news indeed ....
    Mon, 30 Nov 2015 18:20:42 GMT

    Sorry Gerhart - it was oldie1.