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Are you having a laugh? You dont even know the difference between euros and quid for a start. Why do i need to read anything else other than the interims here and the RNSs released re the settlement agreement? Amd if you are so knowledgeable here then why all the questions? No ulterior motive off course?
Nice try BUT SERIOUSLY how is it so difficult for you to comprehend the information contained within the RNS or is it simply you dont want to? The balance of the purchase price owed by Rurelec PLC in respect of the turbine sale in 2013, amounting to £3.2m, is expected to be paid in the first half of 2015. We continue to hold further balance of plant, valued at £4 million, which we expect to sell in due course. The Group's only significant liability, with the exception of the £1.2m owing to the directors in respect of salaries accrued but unpaid, remains an amount owing to Ethos Energy Italia SpA (formerly Turbocare) of £4.2 million. The dispute with Turbocare was settled pursuant to an agreement announced on 29 October 2014, which required payment of €3m on or before 21 November 2014. This payment has not been made. However, further to our announcement on 29 December 2014, we expect to receive the deferred consideration due from Rurelec PLC early in 2015. The Company is managing the working capital of the Group which will remain tight until the receipt of the deferred consideration and the sale of the balance of plant.
its all there.... the payment will take care of most the debt and then there is another 4 mill gbp worth of plant for sale....
Turbocare is the same as Ethos energy. 3m EUR will be paid upon IPSA's receipt from RUR, The remainder of the funds do not have to be paid September 2015 (by which time IPSA might have a plant sell off) therefore in this short term, IPSA will have more money coming in than going out. In terms of the contract in SA, I will re-paste below the full e mail from the CEO (which I had pasted previously) did indeed try to call and left you a message. I cannot give you any information which has not been released to the market via an RNS announcement. However I can tell you that if there was bad new to announce, we would have announced it. We have made no such announcements. Our recent share price fall was the sale in a block of 4 per cent of the company at a foolishly large discount. The seller was a UK institution for whom this holding was too small for the portfolio at the current depressed price, so they just dumped the stock through market makers. It seems all to have been absorbed. The one thing I can do is point you to the public statements of Eskom and the government of South Africa as to the planned extension of all MTPPP contracts, of which IPSA’s Newcastle Cogeneration is a beneficiary. When there is something to announce, we will announce it, I promise. In the meantime there is nothing more which we can say. Best regards, Peter Earl Peter Earl Acting Chief Executive Officer
can you provide source of money owed to turbocare? and what is the 4.4? GBP, USD or EUR? this is news to me, as I'm aware they owe the Italian company 3m euro
Hi Knigelk yep... chasing cos with no chance of paying their debts! so we will do well once they receive the cash and it looks like the announcement was that the cash was coming...why say it otherwise??
Just daft isn't it? should be 3-4p .. surely it will on confirmation?? I just think a bulk of private investors are transfixxed elsewhere on shares like QPP and Afren and missing some real potenttial gains elsewhere... well we can add before the killer RNS (presuming no hold ups) gl :-))
it has nothing to do with the payment to IPSA as they havent made it yet...however yes of course its 3 or 4 positive things happening for RUR...however they OWE IPSA money - ie fact they have now said they will pay this month an amount 2.5 times the market cap of IPSA has not been recognized here as te price is 1% higher than before the news! the cash could come today..tomorrow in 3 weeks but they are expecting to make the payment this month......
is it possible that rurelec's continued rise has something to do with other news on not just the payment to ipsa?
red to blue ...and heading up again IPSA still off radar
lol jedi - you truly have the power of the Force to command.... still its silly here..... the cash coming in although doesn't clear all of IPSAs debts reduces them massively and the risks associated....plus they have another 4 mill gbp asset for sale
I somehow don't think 0.05 is much to worry about. It's also a small quantity so not likely to reflect the ask on volume. Either way woooosa. We will see true value this month for all :)
I am afraid your wrong in your 1420hrs post! I bought 30k @ 1.50p a week or so ago, but it came thru here as a 'Sell'. I did post the above on here. Regards
anyone has ever bought is 1.55 so paying 1.65..1.75 or even 2p is cheap once that cash arrives debt will drop to just 850k gbp with 4 mill of plant still for sale....
All games and irrelevant intraday movement to be honest. The fact is we are severely undervalued :)
I think this mark-down by -0.175p is a little more than severe, since its based only on a few 'Sell' trades to-day? Mmmm!
Lol, sorry thisidentifiesme! I am invested here so equally happy if it rises in the short term too ;-) win win I suppose, just wish I could free up funds now to top up at these silly silly prices. GL
Selfish git. ;)
Patience is the game, I for one hope this drops further for a while, I say that as most of my funds are tied up in WRN, I want to be able to take a good chunk of profit from WRN and put it in here and I bet I won't be the only one come the end of the month! GLE1
Silly MCAP. Patience, the correction will come to reflect this. Expected by end of the month latest - not long to go :)
.....3.2 mill gbp will pay off 4.4 mill euros of 5.6 mill euros leaving 1.2 mill euros or 850k gbp owed vs a 4 mill gbp asset net asset value here is over 7p....
back to waiting then! interestingly because the debt is in euro and the asset sale is gbp IPSA are doing well out of the delayed payment Giant Steps 3 Mar'15 - 07:38 - 698 of 699 1 0 Yes vyke82, IPSA have debts to repay 3 million euros on or before 21 November 2014 and a further sum of 2.6 million euros in cash or equivalent value by 30 September 2015. Reminder : http://www.investegate.co.uk/ipsa-group-plc--ipsa-/rns/settlement-of-dispute-with-turbocare-s-p-a-/201410291230025919V/ moreforus 3 Mar'15 - 07:57 - 699 of 699 0 0 edit IPSA 3.2 mill gbp = 4.4 mill euro debt is in euro asset sale is in gbp
:)
Thanks. I'm sure there is lots to come here. I just didn't want to tie up any capital in settling the trade. I May come back in if it dips... As I see a further rise once the confirmation of funds received RNS is released. Now for the next target...
Well done hobione, but expecting much more in coming days, weeks ;)