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(RUR.L) Rurelec PLC Buy/Sell
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Summary
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| Date/Time | Headline | Source |
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| 25-01-10 | RNS |
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RNS Number : 0494G Rurelec PLC 25 January 2010
Rurelec Plc Holdings in Company TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
of existing shares to which voting rights are attached:
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached. An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):
notification obligation:
5. Date of the transaction and date on which the threshold is crossed or reached:
reached: 8. Notified details:
A: Voting rights attached to shares
if possible using
the ISIN CODE
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B+C)
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
Legal & General Group Plc (Direct and Indirect)
(Group) ( 35,365,899 - 17.21%= Total Position)
Legal & General Investment Management (Holdings)
Limited (LGIMH) (Direct and Indirect) ( 35,365,899
- 17.21%= Total Position)
Legal & General Investment Management Limited
(Indirect) (LGIM) ( 35,365,899 - 17.21%= Total
Position)
Legal & General (Unit Trust Managers) Limited (
19,346,954 - 9.41%= UTM)
Legal & General Group Plc (Direct) (L&G) ( 14,698,945 - 7.15%= LGAS, LGPL
Management (Holdings) Limited (Direct) (LGIH) (14,533,945 -7.07%= LGAS &
(Pensions Management) Limited (LGAS & LGPL) ( 14,533,945 -7.07%= LGAS & (PMC) LGPL)
(LGPL)
Proxy Voting:
N/A
to hold: N/A
voting rights: N/A
13. Additional information:
020 3124 3851 This information is provided by RNS The company news service from the London Stock Exchange END
HOLKKPDQCBKKQDB More |
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| 12-01-10 | RNS |
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RNS Number : 4489F
Rurelec PLC
12 January 2010
Holding(s) in Company TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
of existing shares to which voting rights are attached:
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached. An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):
notification obligation:
(if different from 3.):
5. Date of the transaction and date on which the threshold is crossed or reached:
reached:
8. Notified details:
A: Voting rights attached to shares
if possible using
the ISIN CODE
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B+C)
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
Legal & General Group Plc (Direct and Indirect)
(Group) ( 32,495,899 -15.81%= Total Position)
Legal & General Investment Management (Holdings)
Limited (LGIMH) (Direct and Indirect) ( 32,495,899
-15.81%= Total Position)
Legal & General Investment Management Limited
(Indirect) (LGIM) (32,495,899 -15.81%= Total
Position)
Legal & General (Unit Trust Managers) Limited (
18,533,621 -9.02%= UTM)
Legal & General Group Plc (Direct) (L&G) ( 13,962,278 -6.79% = LGAS, LGPL
Management (Holdings) Limited (Direct) (LGIH) ( 13,962,278 -6.79%= LGAS
(Pensions Management) Limited (LGAS & LGPL) ( 13,962,278 -6.79%= LGAS & (PMC) (PMC) LGPL)
(LGPL)
Proxy Voting:
N/A
to hold: N/A
voting rights: N/A
13. Additional information:
020 3124 3851 This information is provided by RNS The company news service from the London Stock Exchange END
HOLKKBDBOBKDODD More |
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| 23-12-09 | RNS |
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RNS Number : 5955E Rurelec PLC 23 December 2009 23rd December 2009 Rurelec PLC ("Rurelec" or "the Company") Rurelec's Guaracachi Leads Consortium To Build Power Generation in La Paz Rurelec PLC (AIM:RUR), the developer, owner and operator of power generation capacity in Latin America, announces that, its 50.001 per cent owned subsidiary, Empresa Guaracachi SA, has at the suggestion of the Government of Bolivia applied to the Electricity Control Authority (the AE) to install a new gas fired power plant with a nominal capacity of 128 MW on a site at Huaricana in the Department of La Paz which was acquired two years ago by Guaracachi for such a project. This will be Rurelec's first generation capacity serving Bolivia's seat of government. The decision to go ahead with the plant comes amidst concerns that La Paz and the adjacent City of El Alto on the Bolivian Altiplano will suffer from power constraints in early 2011 as a result of the high rate of demand growth for power in the west of Bolivia. In the last four years, under Rurelec's ownership, Guaracachi has installed some 185 MW of new capacity and this has helped Bolivia to maintain its GDP growth, which is currently running at 3.2 per cent for 2009. Bolivia is the only country in the Southern Cone of Latin America not to have suffered from power cuts over this period. A recent IMF report stated that Bolivia currently enjoys the highest economic growth of any country in the whole of North and South America. To date, all of Guaracachi's new generation capacity has been installed to the east and south of the Bolivia. Huaricana represents an important switch to the west of the country. The site is roughly 30 kilometres from the suburbs of La Paz at a height of 2,200 metres above sea level and the plant, which will consist of one Siemens Westinghouse 701DU gas turbine, will be used as a seasonal peaking plant covering times when hydroelectric generation from the Andes is insufficient for the needs of Bolivia's capital city as well as occasions when line balancing requires the plant to run in forced generation mode. Guaracachi currently owns and operates around 445 MW of gas fired capacity but this figure will rise to 545 MW in the first quarter of 2010 when the new combined cycle plant in Santa Cruz and the new gas engine plant in San Matias are brought on line. Guaracachi already has a special exemption from the Government to own and operate more than 35 per cent. of the installed capacity of the Bolivian national grid, a figure which will increase to well over 42 per cent in 2010. The addition of yet another 128 MW would breach the 35 per cent. market share limit further still. Guaracachi is therefore applying for the necessary permits, gas pipeline and transmission grid connections as plant operator and as the sponsor of a consortium of investors led by Independent Power Corporation PLC ("IPC"). In this way Guaracachi will not breach Bolivia's 1995 Electricity Law which governs market share on the grid. IPC is a company controlled by Peter Earl, Managing Director of Rurelec PLC, which owns 9.31 per cent. of Rurelec. The Government of Bolivia is expected to pass new legislation early next year which will allow Guaracachi to own in its own name more than a maximum of 545 MW. In the meantime Guaracachi is co-ordinating the project for IPC and other investors to ensure that the new capacity is commissioned and operational in La Paz by the first quarter of 2011. IPC has exchanged contracts with the owner of the Siemens Westinghouse 701DU gas turbine and has provided the deposit monies needed to reserve the turbine while the necessary Bolivian consents are granted. The turbine is one of four currently owned by IPSA Group PLC which were acquired for the stalled Coega Fast Track Power Project in Port Elizabeth, South Africa. Finance for the Huaricana project has been offered by local Bolivian banks and contractors. Corporacion Andina de Fomento ("CAF"), the Andean Development Corporation has expressed an interest in participating in the financing of the project. Financial close and the commencement of construction are both expected at the end of the first quarter of 2010. Rurelec is one of the largest British investors in Bolivia. For some time now Rurelec has been exploring ways of working more closely with the Government of Bolivia in a public-private partnership which would allow Guaracachi to grow outside the limits of the 1995 electricity legislation. Rurelec believes that the recent election results in Bolivia, which gave President Evo Morales a new five year mandate with an overwhelming majority of the national vote, will permit a number of new energy intensive infrastructure projects to come to fruition for which Rurelec hopes to be a significant foreign investment partner. Commenting on the Huaricana project, Peter Earl, Managing Director of Rurelec, said: "This new project allows Guaracachi to use its position as Bolivia's premier power company to bring new partners to the power generation sector."
Enquiries:
Managing Director, Rurelec PLC Paul Shackleton/Stewart Dickson Tel: + 44 (0)20 7776 6550 Daniel Stewart & Co plc
Religare Hichens Harrison plc
Richard Swindells/Andrew Craig
Blythe Weigh Communications This information is provided by RNS The company news service from the London Stock Exchange END
MSCBRBDDRBDGGCD More |
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| Date/Time | Subject | Author | ||
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| 01-03-10 |
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Yes I did Dim and then half an hour later opened the buy recommendation email. I don't take much notice of these things, but it's quite a nice balanced rationale for reasons to get involved.
Can only see this heading in one direction to be honest. |
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| 01-03-10 | ||||
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Menshy, I was deliberating last week about whether to buy in here, have you taken the plunge?
Nice article |
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Bolivia and Argetina seem to be strong elements of the company's operations
http://uk-analyst.com/shop/page-article/action-article.show/id-130003472 |
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| 01-03-10 |
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Operating through its 50% owned subsidiary, Empresa Guaracachi, Rurelec plays a crucial role in the Bolivian power industry. in the country. The company currently owns and operates three gas fired plants with a total of 445 MW (mega watts) of capacity, making it the largest single power producer in Bolivia, with a circa 40% market share. Demonstrating the company's key role in the infrastructure of the country is the fact that the government, which owns the remaining equity in Empresa Guaracachi, has given it a special exemption from national laws which state that no one operator can have more than 35% of the market.
The company's largest plant in Bolivia, located in the city of Santa Cruz, uses a technology known as combined cycle gas turbine, or CCGT. CCGT technology allows the plant to use waste heat created in the production process to generate additional power from the same amount of fuel. Compared to normal gas fired turbines CCGT plants are much more thermally efficient and also help to significantly reduce greenhouse gas emissions for ever MW hour of electricity produced. Rurelec has taken advantage of this by registering the plant for Certified Emission Reduction Certificates (otherwise known as carbon credits), thereby providing an important secondary revenue stream. In the first quarter of 2010 capacity in Bolivia is expected to rise to 545 MW, mainly as a result of 96MW of new CCGT capacity being added to Santa Cruz. On completion, this will take the company's market share to an estimated 42%. In addition, when the new Guaracachi CCGT plant comes fully on line, Rurelec expects that its power plants will be producing nearly half a million carbon credits per annum. Elsewhere on the continent, through its 50% holding in Energia del Sur (or EDS) Rurelec runs a 136 MW gas fired CGGT plant at Comodoro Rivadavia, in Patagonia, Argentina. In May 2009 an additional 60MW of steam turbine capacity was added to the plant came on line, with it now working at full capacity and providing power into local the wholesale market. Rurelec used to own all of the equity in EDS but sold a 50% stake in the subsidiary in early 2009, back to its previous owners, Basic Energy, in order to reduce planned loan note payments. The deal removed GBP8.7 million of liabilities from Rurelec's balance sheet. --------------------------------------------------------------------- CURRENT TRADING While revenues in the six months to 30th June 2009 rose by 36% (on a like-for-like accounting basis) to GBP18.5 million, Rurelec posted an operating loss of GBP0.7 million (from a profit of GBP1.3 million) as both gross and operating margins fell. Sales growth in the period was driven by record levels of power generation in Bolivia and, with effect from April, increased capacity prices. The extra capacity in Argentina, added in May, also had a small contribution to the numbers. Affecting margins were an increase in gas costs in Bolivia and delays in bringing the new Argentinean capacity on line. Further down the income statement, interest payments of GBP2.16 million and foreign exchange losses of GBP2.67 million helped push the company further into the red. However, this was offset by GBP2.36 million of other income, relating to the profit from the sale of the company's 50% stake in EDS. overall, the pre-tax loss for the period was GBP3.37 million, a performance which the company described as a "dismal" opening to the year. The picture on the balance sheet at the period end was far better than six months previously. Net debt as at 30th June end stood at GBP53.32 million, down from GBP78.2 million as at 31st December 2008, this being helped by the EDS sale and GBP6.77 million worth of placing proceeds. Net assets at the period end attributable to Rurelec shareholders amounted to GBP51.18 million, with the majority of these being made up of tangibles. Just before Christmas Rurelec further announced that in Bolivia, Empresa Guarac . . . Read Full Message More | View thread (3) | Respond | Login to Vote up |
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