Rurelec 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.
Rurelec Price and Volume
Previous Close: 13.25p* (real time prices at ADVFN) Previous Range:N/A - N/A* Previous Volume:200405 shares (down on average)* Trading:above the 50 day M.A. (13.1632) & above the 200 day M.A. (12.2144)*
and thanks that it is, I'm sure the spirit of the paragraph relates to the major listing, the amount paid is only £310,000 and the shares were subscribed for at full ask. Actually, I like the RNS as its the first time I have ever seen an equity raise RNS where the shares have NOT been given at a discount. Nice to see the Chilean connection, Santiago listing must be just round the corner if the Chileans are accepting shares in Rur. By swooped
'Earlier in the year Rurelec announced its intention to seek a dual listing on the Santiago Stock Exchange. That process is now well advanced and share trading is expected in the last quarter of 2013. BICE Chileconsult Asesorías Financieras S.A ("BICE") has been appointed to arrange the secondary listing of its shares on the Santiago Stock Exchange. Banco BICE is one of the leading Chilean banking groups and has strong knowledge of the power sector. An application has been made to the Foreign Securities Registry of the Chilean Securities and Insurance Supervisor ("SVS"). RURELEC DOES NOT INTEND TO ISSUE ANY NEW SHARES AS PART OF ITS SANTIAGO LISTING. However the new secondary quotation, to be executed via an introduction, is expected to improve the liquidity of Rurelec's shares and permit arbitrage between the London and Santiago markets for power company shares. It will also provide future access to the attractive Chilean corporate debt market for long term fixed rate bonds as Rurelec rolls out its programme of new thermal power plants in Arica and Mejillones as well as elsewhere in the north of Chile.' By here and now
We are definitely in a weird market! How much more obvious can it be when Directors are filling their Santa sacks ! Seriously though another 250k from the boss screams BUY!
The thing is, apart from the listing and the compensation - this is a good little company
and making cleaner power as well.
Well there you go, over 6.5 million shares and Peter Earl is still buying at full ask, 250,000 purchased @ 13.25p total now 6.9 millionn shares. He probably thought; I need a new BMW and then came to his senses, bought a load of shares and decided he would have the Bently instead in a few weeks for the same outlay...lol
'The Argentine government is meeting a Spanish delegation including industry ministry and executives from Repsol with a view to sign an agreement regarding a compensation for a nationalised YPF unit last year. Repsol was looking for at least US$10.5bn in compensation from Buenos Aires following the announcement of expropriation. Argentinian government said the agreement had been reached without disclosing the figure for any compensation'.
For Rurelec this can only confirm the dawning of government's realisation that these claims are legitimate and will not go away. By luguvalium
yes should be a winner here.
Current assets of 17 p a share with value of nationalised plant at £50,000,000
So if an award of £100,000,000 is made ( below what has actually been claimed for)
the assets would rise by 10 p a share giving an asset value od 27 p per share a lot of which is in cash.
Could be a bid dividend on the cards too.
This is going to be a winner
But they cannot know that news is imminent - because if anyone at all had said anything that was not in the public domain the Director could not deal ( 30 day rule)
That being said there is no reason why a Director cannot support the company or acquire more shares
If he is feeling confident about the future of that company, so, we should also take confidence that
they are buying large chunks & fill your hand made Churches shoes.
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from Friday 6th of 400k @ 13.325 and shown as a sell; this could well have in fact been a buy at that price as it would have been well within the variations of the sp to have been bought over a reasonable period of time that day.
The way I see it is , news on Listing is overdue.
News on arbitration , well , it has been phrased many ways, which have all pointed to a decision before the year end. How long is it until the 31 December ????
So the facts we have to work on are, that the next 3 weeks should put us out of our anguish.
That's how I see it anyway , or, until shareholders are advised differently, if anything changes. !
GL. Roll on 1-1-14 !
I think the 11th dec date just refers to the first date the new subscription shares can be traded, but I'd love the new Santiago listing to come before the 7 day countdown.
But some good SP incentivising news must be coming soon!
these awkward silences ! ! !
Listing news this week?
Perhaps, maybe, should be, could be !
Peter ! Are you still checking your screen hourly for the 7 day notice of judgement from the
Or was it all a dream. ! :-0