| Wed 07:20 |
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AFX UK Focus |
PERTH, Nov 18 (Reuters) - AGL Energy Ltd lodged an expression of interest on Wednesday in the up to $6.5 billion sale of energy assets by Australia's New South Wales state, looking to expand into the country's largest electricity market.
An AGL spokesman declined to say which assets the company was interested in. The government of Australia's most populous state is selling retail power assets and generation trading rights to pay off debt and fund a string of infrastructure projects.
The government did not give details on the number of responses that it has received, saying only that it had received a strong response. It will short-list qualified parties by December, with the formal due diligence and sale process expected to start in February next year.
AGL has previously expressed interest in the assets. Rival Origin Energy Ltd and Hong Kong's CLP Holdings unit TRUenergy have also said they would consider bidding. Origin could not immediately be reached for comment on Wednesday.
Other potential bidders flagged by analysts include the privately-owned Australian firm ERM Power and Britain's International Power.
AGL, which has said that it would consider equity raising to fund any potential acquisitions, is being advised by the Royal Bank of Scotland, while Macquarie Bank is the adviser for Origin Energy.
The assets on sale are the EnergyAustralia, Integral Energy and Country Energy power retailing businesses, which have about 3.2 million customers in total.
Also on the block are rights to trade some 12,000 MW of power generated mostly by coal-fired power stations, which will be bundled with seven potential power station development sites -- known as the "gentraders" business.
The state government, which is being advised by Credit Suisse and Lazard Carnegie Wylie, may also float some of the assets if offers fall short of expectations.
(Reporting by Fayen Wong) ($1=1.077 Australian Dollar) Keywords: AGL/
(fayen.wong@reuters.com; +618 9456 1947; Reuters Messaging: fayen.wong.reuters.com@reuters.net)
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The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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| 13-11-09 |
|
RNS |
RNS Number : 4814C
International Power PLC
13 November 2009
International Power Completes Sale of Czech Business to J&T Group
(London - 13 November 2009) Further to our announcement on 1 July 2009, International Power is pleased to announce that it has successfully completed the sale of its entire Czech business to the Czecho-Slovak investment firm J&T Group. The sale comprises the wholly-owned Czech subsidiary International Power Opatovice (IPO), as well as IPO's interests in its joint ventures Pra*sk?epl?nsk?PT) and Energotrans (ET). The sale of the business generated net cash proceeds to International Power of CZK17.6 billion (£619 million) and an after tax profit on sale of some £420 million.
Notes to Editors:
An exchange rate of £1:CZK28.42 has been applied in this announcement.
For further information please contact:
Investor Contact: Media Contact:
Hillary Berger Beth Akers
Telephone: +44 (0)20 7320 8681 Telephone: +44 (0)20 7320 8622
About International Power
International Power plc is a leading independent electricity generating company with 32,358MW gross (20,648MW net) in operation and 3,320MW gross (1,018MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 11-11-09 |
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AFX UK Focus |
STOCKS NEWS Reuters Results diary
Europe Real-time Equity News
UK Stocks on the move
UK smallcaps UK smallcaps news
08:53GMT 11Nov2009-E.ON, IPR rise on ugraded guidance, SSE falls
----------------------------------------------------------------
Shares in utilities E.ON and International Power rise 2.4 percent and 4 percent respectively after they upgrade earnings guidance for the full-year.
Shares in Scottish & Southern fall 2.4 percent, however, after it maintains guidance for its full-year after posting first-half results.
"We like the fact the dividend is secure but there was nothing positive in the SSE statement this morning," says one analyst who did not wish to be named.
"On the other hand, IPR was a lot more positive, a rare piece of good news for UK utilities, and the stock looks quite cheap relative to other utilities."
For more, please click on,,
Reuters messaging rm://victoria.bryan.thomsonreuters.com@reuters.net
08:47GMT 11Nov2009-Micro Focus jumps on strong update
-----------------------------------------------------
Shares in Micro Focus jump 18.1 percent to a three-month high, topping the mid-cap leaderboard, after it says a strong performance from its recent acquisitions, Borland and Compuware's testing unit, will help first-half earnings beat expectations.
Broker Singer says the contribution of Borland and Compuware numbers alone could drive a 15 percent upgrade to estimates.
Rajeev Bahl at Piper Jaffray also sees the update as a trigger for continued upgrades. "With Micro Focus now having confirmed that core trading remains robust and that it is outperforming on acquisition integration we continue to view Micro Focus as a key sector holding," he says.
For more, click on
Reuters messaging rm://paul.sandle.reuters.com@reuters.net
08:35GMT 11Nov2009-Burberry up; HSBC upgrade helps
--------------------------------------------------
Shares in Burberry rise 2 percent after HSBC upgrades the luxury retailer to "overweight" from "neutral", saying the firm has a compelling growth story in the luxury goods space.
The broker also increases its earnings per share estimates for Burberry by 15 percent for FY2010 and 20 percent for FY2011 following impressive top line growth and renegotiation of the Japanese licence agreement. HSBC also hikes the share's target price to 725 pence from 525 pence.
"The real interest in Burberry is its expected superior top line growth. While space expansion has no reason to slow significantly in the next 2-3 years, product diversification looks like an easy win and its unique British heritage positioning could help," analysts at HSBC write in a note.
Burberry could also benefit from M&A prospects and its currency position which is positive or neutral unlike its European peers, the broker says.
Reuters Messaging rm://harpreet.bhal.reuters.com@reuters.net
08:32GMT 11Nov2009-Sainsbury up as H1 profit tops hopes
-------------------------------------------------------
Shares in Sainsbury rise 2.7 percent to 336.3 pence after Britain's third-biggest grocer posts first-half profits towards the top end of analysts' forecasts, although it does caution that the second-half will be tougher.
Freddie George, analyst at Seymour Pierce, says he is maintaining his 2009/10 profit forecast of 625 million pounds ($1.05 billion).
"Although the interim results came in at the top end of expectations there will be some nervousness arising from the company's recent sales performance," he says.
On Tuesday analysts said data for the last four weeks from market researcher TNS Worldpanel put Tesco's sales growth ahead of Sainsbury's.
Tesco shares are up 1 percent.
For more double click on
Reuters Messaging rm://james.davey.reuters.com@reuters.net
08:30GMT 11Nov2009-FTSE small caps flat at the open
--------------------------------------------------
The FTSE Small Cap Index is flat in early trade, underperforming the wider UK market which enjoys a bullish start to the session, with the FTSE 100 up 0.8 percent and the FTSE 250 rising 0.9 percent.
Newspaper distribution and aviation services firm John Menzies adds 7.8 percent after the company says it sees full-year results well above current market expectations.
British engineering company Corac Group Plc sheds over 19 percent after the company announces a further delay to the field trial of its downhole gas compressors (DGC), which had previously been targeted for the fourth quarter of 2009 but is now expected to go live in the second-half 2010.
For more double click on
Reuters Messaging rm://david.brett.reuters.com@reuters.net
Keywords: MARKETS UK STOCKSNEWS/
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| 11-11-09 |
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RNS |
This news article is displayed preformatted as it may contain results tables
RNS Number : 3119C
International Power PLC
11 November 2009
International Power plc - Interim Management Statement
(London - 11 November 2009) International Power today publishes its Interim Management Statement, in respect of the period from 1 July 2009 to 10 November 2009.
Philip Cox, CEO of International Power, said: "We continue to benefit from strong operational performance and our diversified international portfolio. We now expect 2009 EPS to be broadly in line with 2008, and free cash flow to be significantly ahead of last year."
Highlights
* Europe and Australia ahead of expectations; US markets remain challenging
* Excellent free cash flow driving strong corporate liquidity
* Completed acquisition of Canadian wind farm developer, AIM PowerGen, in October 2009
* A$425 million refinancing completed for SEA Gas pipeline in Australia, in October 2009
Financial and operating update
The US merchant markets remain challenging due to weak gas prices and lower demand. As a result, in Texas we now expect 2009 spreads and load factors to be marginally down on the guidance given at our Interim Results on 11 August 2009. However, expected 2009 spreads and load factors in New England remain in line with our previous guidance.
In the UK, First Hydro benefited from higher margins in the short-term market and increased ancillary services revenue as a result of reduced plant availability in the system. Saltend's strong operational performance continues and the expected spark spread has improved as a result of capturing lower market gas prices. Rugeley and Deeside continue to perform in line with our expectations.
Australia has continued to perform well and the expected spread and load factor for Hazelwood remain in line with our expectations. The proposed Carbon Pollution Reduction Scheme (CPRS) is scheduled for debate by the Senate in late November, and we continue to engage with Government on scheme design and implementation.
In the Middle East and Asia our long-term contracted portfolio continues to operate well.
Growth opportunities and portfolio update
The Group's strong free cash flow and corporate liquidity, together with continued access to project finance, provides good flexibility for the financing of growth opportunities.
In October, we successfully completed the acquisition of AIM PowerGen Corporation (AIM), one of Canada's largest independent wind farm developers, for a total cash consideration of C$119 million. The portfolio is concentrated in Ontario, with 40MW of wind farms in operation. An additional 40MW is under construction and was successfully project financed with a 20-year fixed rate facility, in October 2009. In addition, AIM has an advanced development pipeline of 1,200MW across Canada.
We are currently constructing three plants in the Middle East and Europe. At Fujairah F2 in the UAE (2,000MW, 130MIGD), construction is progressing well with completion expected in 2010. Both the Elecgas 830MW CCGT project, in Portugal, and the T-Power 420MW CCGT project, in Belgium, are on schedule to reach commercial operation in 2011.
The Middle East, Northern and Southern Africa and Asia continue to offer significant short and medium-term growth opportunities. We are actively evaluating a number of new projects across these markets for potential developments in Morocco, Saudi Arabia, Oman, Indonesia, Thailand and Vietnam. We continue to realise additional value from our existing sites, for example in Indonesia where financial close of the proposed 815MW coal-fired Paiton 3 plant (located within the existing Paiton complex) is expected shortly.
In October, the sale of Hartwell, a 318MW gas and oil-fired peaking facility located in Georgia, was successfully completed generating cash proceeds to International Power of some US$50 million.
We announced the sale of our Czech business to J&T Group in July. The transaction received unconditional clearance from the Czech competition authorities on 6 November 2009 and is expected to complete later this month. 2009 results will include the benefit of a dividend received from Pra*sk?epl?nsk (49% owned by International Power) in July of this year.
Financial position
In October, the A$425 million SEA Gas project refinancing was completed. This new financing will run until October 2012 and fully replaces the existing financing, which was due to expire in December 2009.
The Hazelwood refinancing of A$445 million is due by February 2010. We are actively reviewing refinancing options, whilst closely monitoring developments on the proposed CPRS.
The US combined cycle gas turbine fleet refinancing of US$769 million is due by July 2010. A number of refinancing options are under consideration, including the temporary pay down of this debt.
For 2009, the expected effective tax rate is estimated at 24%, although there is potential for this to decrease if we are successful in resolving historic tax issues across the Group.
Group profitability has benefited from a weakening of sterling against the euro, the Australian dollar and the Czech koruna.
On 10 November 2009 Standard & Poor's upgraded our corporate credit rating to BB.
Outlook
We now expect 2009 EPS to be broadly in line with 2008, reflecting the strong operational performance across our portfolio. The financial position of the Group remains strong, with good corporate liquidity and free cash flow significantly ahead of last year.
As anticipated, forward margins in our US and UK markets remain challenging reflecting lower demand and weak gas prices. However, the fundamentals of our business remain attractive with global demand for additional power generation continuing to drive growth, particularly in developing economies.
International Power will report financial results for the year ending 31 December 2009 on 9 March 2010.
For further information please contact:
Investor Contact: Media Contact:
Hillary Berger Beth Akers
+44 (0)20 7320 8839 +44 (0)20 7320 8622
About International Power
International Power plc is a leading independent electricity generating company with 32,959MW gross (21,249MW net) in operation and 3,320MW gross (1,018MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, the Czech Republic, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 06-11-09 |
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AFX UK Focus |
PRAGUE, Nov 6 (Reuters) - The Czech anti-monopoly office ruled on Friday that International Power can sell its Czech power plant Opatovice to Czech-Slovak investment group J&T.
IPR said in July it was selling its Czech assets including Opatovice and a Prague heating company in a deal worth 581 million pounds in cash, and worth total of 738 million including debt.
Czech mining firm Czech Coal had challenged the deal on competition grounds.
As part of the deal, J&T agreed to sell a 49 percent stake in the heating company, Prazska Teplarenska, to Czech power firm CEZ.
(Reporting by Jan Lopatka) For main central European company news, double click on E.Europe hot stocks Main E.Europe news Related stories on For real-time index quotes, double click in brackets: Warsaw WIG20 Budapest BUX Prague PX Keywords: IPR OPATOVICE/
(prague.newsroom@thomsonreuters.com; Reuters Messaging: jan.lopatka.reuters.com@reuters.net; +420-224 190 474)
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The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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| 02-11-09 |
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RNS |
RNS Number : 8017B
International Power PLC
02 November 2009
International Power plc
Voting Rights and Capital Update
In conformity with the FSA's Disclosure and Transparency Rules DTR 5.6.1R International Power plc hereby notifies the market that as at 31 October 2009, International Power plc's issued share capital consists of 1,522,289,798 ordinary 50 pence shares with voting rights. Each share has equal voting rights and there are no shares held in Treasury. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, International Power plc.
Carolyn Gibson
Deputy Company Secretary
2 November 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 30-10-09 |
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AFX UK Focus |
LONDON, Oct 30 (Reuters) - Power generation company International Power said on Friday it had completed a 235 million pound ($386.4 million) refinancing for its 687 kilometre SEA gas pipeline in Australia.
The London-listed company owns 33.3 percent of the pipeline, which transports gas from Victoria to South Australia, while Retail Employees Superannuation Trust and Australian Pipeline Trust, a unit of APA Group, each own a third.
The banks providing the new facility, which matures in 2012, are Australia and New Zealand Banking Group, Commonwealth Bank of Australia, WestLB, National Australia Bank, Fortis Bank, Oversea-Chinese Banking Corporation and Investec Bank , International Power said.
Shares in International Power were up 0.3 percent at 256.8 pence by 0803 GMT, broadly in line with the index of leading shares.
(Reporting by Paul Sandle) ($1=.6081 Pound) Keywords: INTERNATIONAL POWER/
(paul.sandle.reuters.com@reuters.net paul.sandle@reuters.com; +44 20 7542-6843)
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| 30-10-09 |
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AFX UK Focus |
LONDON, Oct 30 (Reuters) - International Power plc:
SECURES REFINANCING FOR THE SEA GAS PIPELINE, AUSTRALIA
A$425 MILLION (£235 MILLION) PROJECT REFINANCING
((London Equities Newsroom; +44 20 7542 7717))
(For more news, please click here)
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| 30-10-09 |
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RNS |
RNS Number : 6372B
International Power PLC
30 October 2009
International Power Secures Refinancing for the SEA Gas Pipeline, Australia
(London - 30 October 2009) International Power plc announces that, together with its partners, it has completed a A$425 million (£235 million) project refinancing for the 687km SEA Gas pipeline, which links Victoria and South Australia. The new financing will run until October 2012, and fully replaces the existing financing, which was due to expire in December 2009.
International Power owns 33.3% of the 687km SEA Gas pipeline; its partners in this project are Retail Employees Superannuation Trust and Australian Pipeline Trust, who also own 33.3% each.
The banks providing this new facility are Australia and New Zealand Banking Group, Commonwealth Bank of Australia, WestLB, National Australia Bank, Fortis Bank, Oversea-Chinese Banking Corporation and Investec Bank.
Notes to Editors:
An exchange rate of £1:A$1.805 has been applied in this announcement.
For further information please contact:
International Power
Investor Contact: Media Contact:
Hillary Berger Beth Akers
Telephone: +44 (0)20 7320 8839 Telephone: +44 (0)20 7320 8622
About International Power
International Power plc is a leading independent electricity generating company with 32,949MW gross (21,239MW net) in operation and 3,330MW gross (1,028MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, the Czech Republic, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 23-10-09 |
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AFX UK Focus |
CANBERRA, Oct 23 (Reuters) - Some Australian power generators could get extra compensation on top of $2.8 billion already offered to help them adapt to the country's planned carbon-trading scheme, a local newspaper said on Friday.
The national government has agreed to review the level of compensation for brown coal-fired stations in Victoria state, The Age said, quoting confidential papers from the state government.
Victoria has been lobbying Canberra for more aid for the stations, among the industry's major carbon polluters, amid concerns that some could be forced to close.
Compensation has become a key battle ground in a political row over legislation underpinning the emissions scheme, which faces a second and possibly decisive vote in parliament next month.
The conservative opposition has called for more help for the coal industry and power generators in proposing amendments to the legislation. But Climate Change Minister Penny Wong has warned that compensation is not a "bottomless pit".
The legislation has already failed to pass the upper house once before and a second vote is set for late November. If it fails again, Prime Minister Kevin Rudd would be able to call a snap election on the issue.
The Age quoted an unnamed power-industry consultant as saying Victoria Premier John Brumby, who belongs to Rudd's ruling Labor party, was worried about station closures and power disruptions.
A report last year said up to three brown-coal plants could shut by 2020 under Canberra's scheme, which would force them to pay for their carbon emissions. One of them was Hazelwood station, owned by British-based International Power plc.
International Power, Australia's largest private generator, would prefer a taxpayer-funded closure of Hazelwood rather than face the costs of carbon trading, local media have said.
Australia's emissions scheme, due to start in July 2011, will cover 75 percent of emissions from 1,000 of the biggest companies and be the second-largest domestic trading platform after Europe.
Australia is the world's biggest coal exporter and accounts for 1.5 percent of global emissions, but is one of the biggest per capita emitters due to a reliance on coal for 80 percent of electricity generation.
(For a factbox on the government's scheme, click on . For a factbox on the opposition's proposed amendments, click on. For more on Australia's carbon trading debate, see)
(To read in-depth articles on Australasian carbon risks and opportunities, visit Carbon Central - Australia's Climate Change Hub (http://sites.thomsonreuters.com.au/carbon/), which brings together several of Australia's leading climate-change advisers and solution-providers in one place.)
($1=1.078 Australian Dollars) (Reporting by Rob Taylor; Editing by Mark Bendeich)
((rob.taylor@thomsonreuters.com; +612 62733700; Reuters Messaging: rob.taylor.reuters.com@reuters.net)) Keywords: AUSTRALIA CARBON/
(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
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The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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| 22-10-09 |
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RNS |
RNS Number : 2408B
International Power PLC
22 October 2009
TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Identity of the issuer or the underlying issuerof existing shares to International Power Plc
which voting rights areattached:
2. Reason for the notification:
An acquisition or disposal of voting rights Yes
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):
3. Full name of person(s) subject to the Legal & General Group Plc (L&G)
notification obligation:
4. Full name of shareholder(s) Legal & General Assurance (Pensions Management) Limited
(if different from 3.): (PMC)
5. Date of the transaction and date on 20 October 2009
which the threshold is crossed or
reached:
6. Date on which issuer notified: 21 October 2009
7. Threshold(s) that is/are crossed or From 4% - 3% (L&G)
reached:
8. Notified details:
A: Voting rights attached to shares
Class/type of Situation previous Resulting situation after the triggering transaction
shares to the triggering
transaction
Number Number Number of voting % of voting rights
of of Number rights
Shares Voting of shares
Rights
Direct Indirect Direct Indirect
ORD 62,003,966 62,003,966 60,685,980 60,685,980 3.98
GBP 50p
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion Period rights that may be rights
acquired if the
instrument is
exercised/ converted.
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial Exercise price Expiration date Exercise/ Number of voting rights instrument refers to % of voting rights
instrument Conversion period
Nominal Delta
Total (A+B+C)
Number of voting rights
Percentage of voting rights
60,685,980
3.98
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)
Legal & General Investment Management(Holdings)
Limited(LGIMH)(Direct and Indirect)
Legal & General Investment Management Limited
(Indirect) (LGIM)
Legal & General Group Plc (Direct) (L&G)
(60,685,980 -3.98 % == LGAS, LGPL & PMC)
Legal & General Investment Legal & General Insurance Holdings Limited
Management (Holdings) Limited (Direct) (LGIH)
(Direct) (LGIMHD)
(55,257,082 -3.62 % = PMC)
Legal & General Assurance Legal & General Assurance Society Limited
(Pensions Management) Limited (LGAS & LGPL)
(PMC)
(55,257,082 -3.62 % = PMC)
Legal & General Pensions
Limited (Direct) (LGPL)
Proxy Voting:
10. Name of the proxy holder:
N/A
11. Number of voting rights proxy holder will cease to hold:
N/A
12. Date on which proxy holder will cease to hold
voting rights:
N/A
13. Additional information:
Notification using the total voting rights figure of 1,522,289,798
14. Contact name:
Carolyn Gibson
15. Contact telephone number:
0207 320 8728
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 22-10-09 |
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RNS |
RNS Number : 1836B
International Power PLC
22 October 2009
International Power Completes Acquisition of Canadian Wind Farm Developer
(London - 22 October 2009) Further to our announcement on 30 September 2009, International Power has successfully completed the acquisition of AIM PowerGen Corporation (AIM), one of Canada's largest independent wind farm developers, from Renewable Energy Generation Limited. The non-recourse debt financing for the 40MW Harrow project has now been successfully completed, resulting in an enterprise value of C$241 million (£139 million) for the entire transaction, with a total cash consideration of c$119 million (£69 million). The acquisition is expected to be immediately free cash flow positive, and earnings accretive once the Harrow project construction programme completes in 2010.
The AIM portfolio is concentrated in Ontario, with 40MW of wind farms in operation in addition to the Harrow project, which has already commenced construction and is on plan for completion in the first half of 2010. AIM also has an advanced development pipeline of 1,200MW in Ontario and across Canada. Canada has a strong commitment to renewable generation, with markets such as Ontario providing a supportive regulatory environment, including 20-year off-take contracts with feed-in tariffs.
Notes to Editors:
To view related announcements please visit http://www.ipplc.com/ipr/news/press/pr2009/.
An exchange rate of £1: C$1.73 has been applied in this announcement.
For further information please contact:
International Power
Investor Contact: Media Contact:
Hillary Berger Beth Akers
Telephone: +44 (0)20 7320 8839 Telephone: +44 (0)20 7320 8622
About International Power
International Power plc is a leading independent electricity generating company with 32,949MW gross (21,239MW net) in operation and 3,330MW gross (1,028MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, the Czech Republic, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 20-10-09 |
|
RNS |
RNS Number : 0744B
International Power PLC
20 October 2009
Annex DTR3
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
All relevant boxes should be completed in block capital letters.
1. Name of the issuer 2. State whether the
notification relates
to (i) a
transaction notified
in accordance with
DTR 3.1.2 R,
(ii) a disclosure
made in accordance
LR 9.8.6R(1) or
(iii) a disclosure
made in accordance
with section 793 of
the Companies Act
(2006).
INTERNATIONAL POWER
PLC
(i)
3. Name of person 4. State whether
discharging notification relates
managerial to a person
responsibilities/ connected with a
director person discharging
managerial
responsibilities/
director named in 3
and identify the
connected person
STEPHEN RILEY
N/A
5. Indicate whether the 6. Description of
notification is in shares (including
respect of a holding class), debentures
of the person or derivatives or
referred to in 3 or financial
4 above or in instruments relating
respect of a to shares
non-beneficial
interest 1
STEPHEN RILEY
ORDINARY SHARES OF
50 PENCE PER SHARE
7. Name of registered 8. State the nature of
shareholders(s) and, the transaction
if more than one,
the number of shares
held by each of them
GRANT OF OPTIONS
STEPHEN RILEY UNDER HMRC APPROVED
SAYE 2009
9. Number of shares, 10. Percentage of issued
debentures or class acquired
financial (treasury shares of
instruments relating that class should
to shares acquired not be taken into
account when
calculating
percentage)
N/A
N/A
11. Number of shares, 12. Percentage of issued
debentures or class disposed
financial (treasury shares of
instruments relating that class should
to shares disposed not be taken into
account when
calculating
percentage)
N/A
N/A
13. Total holding 14. Date issuer informed
following of transaction
notification and
total percentage
holding following
notification (any
treasury shares
should not be taken
into account when
calculating
percentage) N/A
N/A
If a person discharging managerial responsibilities has been granted options by the issuer
complete the following boxes
15. Date of grant 16. Period during which
or date on which
exercisable
19 OCTOBER 2009
1 JANUARY 2015 TO 30
JUNE 2015
17. Total amount paid 18. Description of shares
(if any) for grant or debentures
of the option involved (class and
number)
N/A
ORDINARY SHARES OF 50
PENCE PER SHARE
19. Exercise price (if 20. Total number of
fixed at time of shares or debentures
grant) or over which options
indication that held following
price is to be fixed notification
at the time of
exercise
6,506
239 PENCE PER SHARE
21. Any additional 22. Name of contact and
information telephone number for
queries
CAROLYN GIBSON
N/A DEPUTY COMPANY
SECRETARY
0207 320 8728
Name of authorised official of issuer responsible for making notification
STEPHEN RAMSAY
Date of notification ____________________19 October
2009_______________________
Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
(1) An issuer making a notification in respect of a transaction relating to
the shares or debentures of the issuer should complete boxes 1 to 16, 23
and 24.
(2) An issuer making a notification in respect of a derivative relating the
shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23
and 24.
(3) An issuer making a notification in respect of options granted to a
director/person discharging managerial responsibilities should complete
boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should
complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSKBLBLKBBZFBK
More
|
| 20-10-09 |
|
RNS |
RNS Number : 0737B
International Power PLC
20 October 2009
Annex DTR3
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
All relevant boxes should be completed in block capital letters.
1. Name of the issuer 2. State whether the
notification relates
to (i) a
transaction notified
in accordance with
DTR 3.1.2 R,
(ii) a disclosure
made in accordance
LR 9.8.6R(1) or
(iii) a disclosure
made in accordance
with section 793 of
INTERNATIONAL POWER the Companies Act
PLC (2006).
(i)
3. Name of person 4. State whether
discharging notification relates
managerial to a person
responsibilities/ connected with a
director person discharging
managerial
responsibilities/
director named in 3
and identify the
connected person
GARETH GRIFFITHS
N/A
5. Indicate whether the 6. Description of
notification is in shares (including
respect of a holding class), debentures
of the person or derivatives or
referred to in 3 or financial
4 above or in instruments relating
respect of a to shares
non-beneficial
interest 1
GARETH GRIFFITHS ORDINARY SHARES OF
50 PENCE PER SHARE
7. Name of registered 8. State the nature of
shareholders(s) and, the transaction
if more than one,
the number of shares
held by each of them
GARETH GRIFFITHS
GRANT OF OPTIONS
UNDER HMRC APPROVED
SAYE 2009
9. Number of shares, 10. Percentage of issued
debentures or class acquired
financial (treasury shares of
instruments relating that class should
to shares acquired not be taken into
account when
calculating
percentage)
N/A
N/A
11. Number of shares, 12. Percentage of issued
debentures or class disposed
financial (treasury shares of
instruments relating that class should
to shares disposed not be taken into
account when
calculating
percentage)
N/A
N/A
13. Total holding 14. Date issuer informed
following of transaction
notification and
total percentage
holding following
notification (any
treasury shares
should not be taken
into account when
calculating
percentage) N/A
N/A
If a person discharging managerial responsibilities has been granted options by the issuer
complete the following boxes
15. Date of grant 16. Period during which
or date on which
exercisable
19 OCTOBER 2009 1 JANUARY 2015 TO 30
JUNE 2015
17. Total amount paid 18. Description of shares
(if any) for grant or debentures
of the option involved (class and
number)
N/A
ORDINARY SHARES OF 50
PENCE PER SHARE
19. Exercise price (if 20. Total number of
fixed at time of shares or debentures
grant) or over which options
indication that held following
price is to be fixed notification
at the time of
exercise
239 PENCE PER SHARE 6,506
21. Any additional 22. Name of contact and
information telephone number for
queries
CAROLYN GIBSON
N/A DEPUTY COMPANY
SECRETARY
0207 320 8728
Name of authorised official of issuer responsible for making notification
STEPHEN RAMSAY
Date of notification ____________________19 October
2009_______________________
Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
(1) An issuer making a notification in respect of a transaction relating to
the shares or debentures of the issuer should complete boxes 1 to 16, 23
and 24.
(2) An issuer making a notification in respect of a derivative relating the
shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23
and 24.
(3) An issuer making a notification in respect of options granted to a
director/person discharging managerial responsibilities should complete
boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should
complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSKBLBLKBBZFBZ
More
|
| 20-10-09 |
|
RNS |
RNS Number : 0727B
International Power PLC
20 October 2009
Annex DTR3
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
All relevant boxes should be completed in block capital letters.
1. Name of the issuer 2. State whether the
notification relates
to (i) a
transaction notified
in accordance with
DTR 3.1.2 R,
(ii) a disclosure
made in accordance
LR 9.8.6R(1) or
(iii) a disclosure
made in accordance
with section 793 of
the Companies Act
(2006).
INTERNATIONAL POWER
PLC (i)
3. Name of person 4. State whether
discharging notification relates
managerial to a person
responsibilities/ connected with a
director person discharging
managerial
responsibilities/
director named in 3
and identify the
connected person
PENELOPE CHALMERS
N/A
5. Indicate whether the 6. Description of
notification is in shares (including
respect of a holding class), debentures
of the person or derivatives or
referred to in 3 or financial
4 above or in instruments relating
respect of a to shares
non-beneficial
interest 1
PENELOPE CHALMERS ORDINARY SHARES OF
50 PENCE PER SHARE
7. Name of registered 8. State the nature of
shareholders(s) and, the transaction
if more than one,
the number of shares
held by each of them
PENELOPE CHALMERS
GRANT OF OPTIONS
UNDER HMRC APPROVED
SAYE 2009
9. Number of shares, 10. Percentage of issued
debentures or class acquired
financial (treasury shares of
instruments relating that class should
to shares acquired not be taken into
account when
calculating
percentage)
N/A
N/A
11. Number of shares, 12. Percentage of issued
debentures or class disposed
financial (treasury shares of
instruments relating that class should
to shares disposed not be taken into
account when
calculating
percentage)
N/A
N/A
15. Total holding 16. Date issuer informed
following of transaction
notification and
total percentage
holding following
notification (any
treasury shares
should not be taken
into account when
calculating
percentage)
N/A
N/A
If a person discharging managerial responsibilities has been granted options by the issuer
complete the following boxes
17. Date of grant 18. Period during which
or date on which
exercisable
19 OCTOBER 2009 1 JANUARY 2013 TO 30
JUNE 2013
19. Total amount paid 20. Description of shares
(if any) for grant or debentures
of the option involved (class and
number)
N/A
ORDINARY SHARES OF 50
PENCE PER SHARE
21. Exercise price (if 22. Total number of
fixed at time of shares or debentures
grant) or over which options
indication that held following
price is to be fixed notification
at the time of
exercise
239 PENCE PER SHARE 3,797
23. Any additional 24. Name of contact and
information telephone number for
queries
CAROLYN GIBSON
N/A DEPUTY COMPANY
SECRETARY
0207 320 8728
Name of authorised official of issuer responsible for making notification
STEPHEN RAMSAY
Date of notification ____________________19 October
2009_______________________
Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
(1) An issuer making a notification in respect of a transaction relating to
the shares or debentures of the issuer should complete boxes 1 to 16, 23
and 24.
(2) An issuer making a notification in respect of a derivative relating the
shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23
and 24.
(3) An issuer making a notification in respect of options granted to a
director/person discharging managerial responsibilities should complete
boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should
complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSKBLBLKBBXFBE
More
|
| 18-10-09 |
|
AFX UK Focus |
The Mail on Sunday
MUTUALS POISED FOR 10 BILLION POUND MERGER
Liverpool Victoria and Royal Liver are in merger talks that could create a 10 billion pound mutual giant with more than five million customers. The two friendly societies have undergone contrasting fortunes. Liverpool Victoria has seven billion pounds of assets and is a major player in the car insurance and retirement markets. Royal Liver has suffered crippling losses at two subsidiaries that forced a strategic review. Although the deal will be billed as a merger, it would effectively be a takeover by Liverpool Victoria with no windfalls payable to members of either business.
OWN-BRAND RINGS THE TILL FOR DEBENHAMS
The decision by Debenhams to boost sales of its own-brand products has resulted in an increase in profits, with analysts forecasting the group this week to deliver a figure of about 122 million pounds, up from 2008's 110 million pounds. Observers have speculated about possible acquisitions following the collapse of fashion brands Karen Millen and Oasis, but it is not thought any acquisition strategy will accompany the results. Shares in Debenhams closed last week at 79.85 pence, valuing the group at 10.3 billion pounds.
TRAVEL WORRIES SLASH TRAILFINDERS' PROFITS
Trailfinders, the independent travel company, reported a fall in profits for the year to February to 7.4 million pounds, down from 18.6 million pounds the year before. The recession and people's fear of terrorism have been blamed for the fall in the numbers of people travelling. Turnover increased from 619.6 million pounds to 634.4 million pounds, and the company was only kept in the black by the 9.4 million pounds interest from cash deposits held to protect customers from the collapse of airlines and tour operators.
The Sunday Times
BONUS BONANZA FOR BARCLAYS
Barclays is set to post record profits for 2009, triggering massive bonus payouts to senior staff. The bank is expected to post a profit in the region of 10 billion pounds, as banks' earnings in specialised areas of investment banking continue to surge. A number of banks have recently announced big bonus payouts despite global political efforts to curb bonuses, which are seen by many as being instrumental in creating the current financial crisis.
SWEDES SEEK NEW HOME FOR AILING HABITAT
Habitat's Swedish owners have placed it on the market, after seeing consumer demand for big ticket items, such as furniture, fall during the recession. Experts have also said that the retailer, noted for bringing high-end design to the general public, suffered due to poor customer service and the wrong product mix. Overpricing was also said to be an issue. The company lost more than 13.4 million pounds in the year to March 30 2008, although a number of promotions have led to improvements in recent weeks with like-for-like sales growing 13 per cent.
BAILOUT TALKS FAIL AT REGENT
There are doubts about the future of pub group Regent Inns after a management buyout of the group collapsed on Friday when financing could not be arranged. The group had previously attracted interest from a number of potential buyers and its banking consortium, led by HSBC, hopes to attract a trade buyer. Regent, which has a net debt of 79.8 million pounds, employs 2000 staff and their future is now uncertain. It is not yet known whether a new owner would pursue the turnaround strategy proposed by the current management team.
SHAREWATCH:
International Power (betting on any utility requires great courage)
The Sunday Telegraph
FIRSTGROUP CIRCLES NATIONAL EXPRESS AFTER SOUTER OFFER
Firstgroup will have to decide whether to make a fresh takeover bid for National Express following a 1.65 billion pound all-share merger proposal from its rival Stagecoach. The move by Stagecoach was sparked by the failed 765 million pound cash bid from CVC and Spain's Cosmen family, which owns 18.5 per cent of National Express. Stagecoach is believed to have informed National Express's board it is aware the company is looking for a speedy resolution to the situation and would be prepared to move accordingly.
CADBURY TO REVEAL STRONG GROWTH
Cadbury is expected to report third-quarter sales growth of about four per cent with profit margins remaining on track. However, spectacular sales figures are not expected as chocolate sales in the UK have dropped in recent months, but have been buoyed by improved chewing gum sales in the US and a strong performance in emerging markets. Analysts at JP Morgan said there is "anecdotal" evidence of Cadbury using price promotions in the UK to push through sales, which would impact on profit margins.
AUDITORS' WARNING FOR TCHENGUIZ
According to files at Companies House, Robert Tchenguiz's investment vehicle R20 made a 31.4 million pound loss last year and was hit with a "going concern" warning from its auditors. The company is now reliant on funding from Rotch Property Group. Accounts for Rotch show it has net assets of 59.5 million pounds and suffered a pre-tax loss of 35.5 million pounds. The Rotch accounts do not carry a "going concern" warning. R20 suffered huge losses following the collapse of Icelandic bank Kaupthing and the liquidation of stakes in Sainsbury and M&B.
QUESTOR:
Amec (Buy)
Aveva (Take profits)
The Independent on Sunday
ITV SEEKS NEW HEADHUNTERS TO FIND A CHIEF EXECUTIVE
ITV is attempting to replace its headhunting firm Russell Reynolds, as the broadcaster steps up its efforts to recruit a new chief executive as well as a replacement for out-going chairman Michael Grade. A number of firms have been approached to help recruit for the two positions but they are understood to have turned the job down due to the chaotic nature of the search so far. Talks with former BSkyB chief Tony Ball, a candidate for the chief executive role, failed when he refused to give unconditional support to proposed chairman Sir Crispin Davis.
LOTUS COLLIDES WITH RECESSION, TURNING PROFIT INTO 14 MIILLION POUND LOSS
Historic British car brand Lotus fell to a 14.6 million pound loss in the year to March, after previously recording a two million pound pre-tax profit. The loss was in part driven by the cost of extra investment in the brand by its owner, the Malaysian car company Proton. Last July saw the launch of the Evora, Lotus' first new model in 14 years, and the company also expanded its dealer network to cover more emerging economies. Revenue from sales and services fell 5.9 per cent to 73.7 million pounds but the company reported growth in its hi-tech engineering consultancy division.
BAE ACCUSED OF 'IMPROPER CONTACT' IN US
BAE has been accused of "improper contact" with US defence officials in a bid to reverse the decision to award a 1.8 billion pound arms contract to a rival. Defence Secretary Robert Gates received a strongly worded letter from members of congress warning that the actions of "losing bidders" posed a threat to the "integrity of the defence acquisition process. The loss of the contract to supply army trucks - which it had held for 17 years - places doubts over the future of BAE's Texas factory.
The Observer
INDUSTRIAL BLACKSPOTS 'SHOW JOBLESS TOTAL IS THREE MILLION'
A report to be published by the Industrial Communities Alliance this week will reveal that rapidly rising unemployment in the UK's industrial heartlands has pushed the real level of joblessness well over the three million mark. The study shows that widespread lay-offs in the manufacturing sector have widened the north-south divide in the labour market. The author of the report, Professor Steve Fothergill, said the real level of unemployment was close to 3.4 million and that in many places is over 10 per cent of the workforce. The increase in unemployment has been particularly acute in the West Midlands, but the study found that every part of England with a high concentration of industry had suffered from a fall in demand, while the picture in Wales and Scotland was more mixed.
BRITAIN FACES PAINFUL 'VW' RECOVERY, SAYS ITEM CLUB
The Ernst and Young Item Club warns today that Britain faces a painful and prolonged 'VW-shaped recovery' as the economy 'bumps along the bottom' held back by government cost-cutting and chastened consumers. Item predicts that it will take until 2012 before growth returns to its long-run average, with GDP expected to expand by one per cent next year and two per cent in 2011. The report's author, Peter Spencer, says that the Bank of England's policy of quantitative easing has helped to boost the price of assets but is not feeding through to spending or investment.
BURBERRY GETS HOT UNDER THE COLLAR OVER PET RETAILER'S CHECK
Burberry is suing the pet accessories chain Pets At Home claiming that the material used on items such as dog coats and baskets sold in the retailer's stores uses a plaid design which infringes copyright. Last week, the high fashion house revealed six month revenues up 14 per cent, with its signature check continuing throughout its range. Products using the check in question have been pulled from shops, but the dispute has not yet been resolved. Pets At home appears to have been hardly affected by the recession, with comparable sales up 7.5 per cent for the year to March.
Prepared for Reuters by Durrants
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
More
|
| 18-10-09 |
|
AFX UK Focus |
The Mail on Sunday
MUTUALS POISED FOR 10 BILLION POUND MERGER
Liverpool Victoria and Royal Liver are in merger talks that could create a 10 billion pound mutual giant with more than five million customers. The two friendly societies have undergone contrasting fortunes. Liverpool Victoria has seven billion pounds of assets and is a major player in the car insurance and retirement markets. Royal Liver has suffered crippling losses at two subsidiaries that forced a strategic review. Although the deal will be billed as a merger, it would effectively be a takeover by Liverpool Victoria with no windfalls payable to members of either business.
OWN-BRAND RINGS THE TILL FOR DEBENHAMS
The decision by Debenhams to boost sales of its own-brand products has resulted in an increase in profits, with analysts forecasting the group this week to deliver a figure of about 122 million pounds, up from 2008's 110 million pounds. Observers have speculated about possible acquisitions following the collapse of fashion brands Karen Millen and Oasis, but it is not thought any acquisition strategy will accompany the results. Shares in Debenhams closed last week at 79.85 pence, valuing the group at 10.3 billion pounds.
TRAVEL WORRIES SLASH TRAILFINDERS' PROFITS
Trailfinders, the independent travel company, reported a fall in profits for the year to February to 7.4 million pounds, down from 18.6 million pounds the year before. The recession and people's fear of terrorism have been blamed for the fall in the numbers of people travelling. Turnover increased from 619.6 million pounds to 634.4 million pounds, and the company was only kept in the black by the 9.4 million pounds interest from cash deposits held to protect customers from the collapse of airlines and tour operators.
The Sunday Times
BONUS BONANZA FOR BARCLAYS
Barclays is set to post record profits for 2009, triggering massive bonus payouts to senior staff. The bank is expected to post a profit in the region of 10 billion pounds, as banks' earnings in specialised areas of investment banking continue to surge. A number of banks have recently announced big bonus payouts despite global political efforts to curb bonuses, which are seen by many as being instrumental in creating the current financial crisis.
SWEDES SEEK NEW HOME FOR AILING HABITAT
Habitat's Swedish owners have placed it on the market, after seeing consumer demand for big ticket items, such as furniture, fall during the recession. Experts have also said that the retailer, noted for bringing high-end design to the general public, suffered due to poor customer service and the wrong product mix. Overpricing was also said to be an issue. The company lost more than 13.4 million pounds in the year to March 30 2008, although a number of promotions have led to improvements in recent weeks with like-for-like sales growing 13 per cent.
BAILOUT TALKS FAIL AT REGENT
There are doubts about the future of pub group Regent Inns after a management buyout of the group collapsed on Friday when financing could not be arranged. The group had previously attracted interest from a number of potential buyers and its banking consortium, led by HSBC, hopes to attract a trade buyer. Regent, which has a net debt of 79.8 million pounds, employs 2000 staff and their future is now uncertain. It is not yet known whether a new owner would pursue the turnaround strategy proposed by the current management team.
SHAREWATCH:
International Power (betting on any utility requires great courage)
The Sunday Telegraph
FIRSTGROUP CIRCLES NATIONAL EXPRESS AFTER SOUTER OFFER
Firstgroup will have to decide whether to make a fresh takeover bid for National Express following a 1.65 billion pound all-share merger proposal from its rival Stagecoach. The move by Stagecoach was sparked by the failed 765 million pound cash bid from CVC and Spain's Cosmen family, which owns 18.5 per cent of National Express. Stagecoach is believed to have informed National Express's board it is aware the company is looking for a speedy resolution to the situation and would be prepared to move accordingly.
CADBURY TO REVEAL STRONG GROWTH
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
More
|
| 14-10-09 |
|
AFX UK Focus |
Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
The Sydney Anglican diocese is preparing to reveal details of how it lost A$160 million in net assets during the global financial crisis. A high-risk gearing strategy, which delivered above-market gains in the five years leading up to 2007, backfired when the market crashed, resulting in a 60 percent slump in the diocese's investment portfolio. The total assets of the Diocesan Endowment Fund plunged from A$586 million to A$286 million in the year to December 2008, leading to savage job cuts and an overhaul of service delivery. Page 1.
--
The foreign owner of one of Australia's largest coal-fired power stations has asked Climate Change Minister Penny Wong to pay it billions of dollars to close down the polluting assets, potentially leaving taxpayers to foot the bill. British group International Power is lobbying the Victorian and Rudd governments to pay it to close down the Hazelwood power station in Victoria's Latrobe Valley rather than award it compensation under the proposed emissions trading scheme. The proposal, which would boost the competitiveness of alternative energy providers, would see the station phasing out production and reducing emissions. Page 1.
--
The Rudd government has unveiled plans to reduce federal debt by A$60 billion and balance the budget as early as 2014, two years earlier than currently forecast. The move comes as a wave of positive economic data, including reduced unemployment and rising consumer confidence, has further raised hopes of a sustained economic recovery. Finance Minister Lindsay Tanner has written to ministers asking them to nominate spending cuts, paving the way for another round of tough fiscal reforms in the May budget. Page 1.
--
The Productivity Commission is calling for an overhaul of the complex and inconsistent rules governing the not-for-profit sector. As part of the overhaul, not-for-profits (NFPs) would be required to sign up to a new national registrar which would confirm their tax-deductibility status and provide a centralised financial record of the sector. The draft report released yesterday also recommends that the Government explore ways to lift Australia's low rate of charity-giving by increasing awareness of the tax benefits of philanthropy. Page 3.
--
THE AUSTRALIAN (www.theaustralian.news.com.au)
Prime Minister Kevin Rudd yesterday warned that organised crime syndicates were responsible for the vast majority of asylum-seeker boats reaching Australia. People-smugglers represented the "vilest form of people on the planet" and regional co-operation would be the key to eliminating them, Mr Rudd said. Australian authorities are believed to be currently tracking about six boats of asylum-seekers from Indonesia, Malaysia and Sri Lanka suspected to be on their way to the mainland. Page 1.
--
A homosexual couple will appear before the Family Court in a bid to gain access to a three-year-old girl to whom they have no biological connection. In what is believed to be the first case of its kind before the court, the male couple have successfully argued that they are important people in the life of the girl. The girl's mother was, until last year, in a same-sex relationship with another woman who has a child conceived with one of the men. A family psychologist described the case, which will return to the Family Court in Brisbane next month, as complex. Page 1.
--
The Rudd government has been accused of pilfering crisis accommodation intended for indigenous communities as it proceeds with its decision to send 81 demountables to Christmas Island detention centre. A spokesman for Immigration Minister Chris Evans yesterday dismissed opposition claims that the demountables were taken from indigenous housing allocations, saying it was part of the department's normal contingency plan. The demountables were originally used at Woomera and Baxter detention centres and had been in storage in Alice Springs since then, he said. Page 2.
--
A biological test which diagnoses mental illnesses such as depression and schizophrenia has been developed by Australian researchers. In a world first, researchers at Monash University in Melbourne have invented an electrode that can detect changing brain patterns which are seen as bio-markers for mental illness. While the technology needs further testing, it could be widely available in five to 10 years, said researcher Jayashri Kulkarni, director of Monash University's Alfred Psychiatry Research Centre. Page 3.
--
THE SYDNEY MORNING HERALD (www.smh.com.au)
Sydney barrister Gregory Curtin, in a letter which has been released on the Justinian website, has criticised the system of appointing Senior Counsel in New South Wales. A four-person selection committee is responsible for awarding silk to barristers in the state, who also take account of comments from a consultation group. Mr Curtin notes that in 2007 and 2008, members of the committee awarded silk to barristers from their own chambers at five times the rate of applicants from other chambers. Page 1.
--
Australia Post retail outlets have pulled a number of popular Penguin classic novels from their shelves, amid concerns about their erotic content. Titles that were taken off the shelves include Lolita, The History of Sexuality and The Delta of Venus.
Australia Post spokesman, Alex Twomey, said the books did not fit the company's brand and business. "Given that we serve all parts of the community, they're not the sort of thing we would normally have," he said. Page 3.
--
A prominent historian has confirmed claims by Dutch naval architect Peter van Oossanen that architect Ben Lexcen had played only a small part in the design of the winged keel credited with Australia II's historic win of the America's Cup in 1993. The sailing fraternity, including Alan Bond, have jumped to the defence of Lexcen, the late Australian designer. Mr Bond said that Mr van Oossanen had been recruited to work on Lexcen's drawings of the famous keel. Page 3.
--
THE AGE (www.theage.com.au) Opposition Leader Malcolm Turnbull faces the toughest month of his tumultuous leadership, as he presses for party room support for his amendments to the Rudd government's emissions trading scheme. The Nationals have agreed to support Mr Turnbull's efforts at negotiating with the Government, but have warned that they are heading to voting against the legislation. Nationals Senate leader, Barnaby Joyce, said the scheme was "a disaster for our nation, so at the end of the day we have to vote against this tax." Page 1.
--
According to a study by The Alfred Hospital, the month of February is the worst month to go to hospital because the higher number of trainee doctors cause the number of errors to rise by 40 percent. The study, to be published in the British Medical Journal, found that the rate of injury rose more than five times in the first month of training. The study recommends that trainees receive adequate orientation and more supervision in the first few months of their medical career. Page 3.
-- Keywords: DIGEST AUSTRALIA GENERAL
(Sydney Newsroom +61-2 9373 1800; sydney.newsroom@reuters.com)
COPYRIGHT
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More
|
| 14-10-09 |
|
AFX UK Focus |
LONDON, Oct 14 (Reuters) - International Power plc:
COMPLETES SALE OF 50% INTEREST IN 318MW HARTWELL PLANT TO OGLETHORPE POWER
corporation
FINAL PURCHASE PRICE WAS US$148.5 MILLION INCLUDING US$53.5 MILLION OF
existing debt
((London Equities Newsroom; +44 20 7542 7717))
(For more news, please click here)
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The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
More
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| 14-10-09 |
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RNS |
RNS Number : 7362A
International Power PLC
14 October 2009
International Power Completes Sale of 50% Interest in 318MW Hartwell Plant to Oglethorpe Power Corporation
(London - 14 October 2009) Further to our announcement on 21 April 2009, International Power, together with its partner, has successfully completed the sale of the Hartwell plant, a 318MW gas and oil-fired peaking facility located in Georgia, US, to Oglethorpe Power Corporation (Oglethorpe).
The final purchase price was US$148.5 million (£93.4 million) including US$53.5 million (£33.6 million) of existing project level debt which was paid off by Oglethorpe at closing. Oglethorpe, the power purchase agreement offtaker, exercised its right of first refusal to buy the plant in July 2009.
Notes to Editors:
To view related announcements please visit: http://www.ipplc.com/ipr/news/press/pr2009/.
An exchange rate of £1:US$1.59 has been applied in this announcement.
For further information please contact:
Investor Contact: Media Contact:
Hillary Berger Sally Hogan (Finsbury)
Telephone: +44 (0)20 7320 8839 Telephone: +44 (0)20 7251 3801
About International Power
International Power plc is a leading independent electricity generating company with 32,909MW gross (21,199MW net) in operation and 3,290MW gross (988MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, the Czech Republic, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Thailand and Puerto Rico. International Power is listed on the London Stock Exchange with ticker symbol IPR. The Company website is: www.ipplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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