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Douglas what do you not understand , about open offer fully subscribed, been fulfilled for days ,
That's a significant development Madras, thanks for posting, I have shared it on other bb's.
So there is no announcement just guessing they have been fully taken up?
Where does it say the open offer was fully taken up?
https://surplusenergyeconomics.wordpress.com/2019/04/05/149-the-big-challenges/
Hope JC reads it.
the open offer shares were fully taken up , a few days ago, now good to finally get rid of camco and with a little cash ,
National Grid says it can go 100% renewables by 2025
https://theenergyst.com/national-grid-says-can-go-100-renewables-2025/
posted by degsie on KDNC BB
This is an extract from an RNS from Dec 2015 below. So Redt sold the assets in November 2015 but managed the projects using the US based Camco International subsiduary that they have now sold to management. I don't have access to us company information but this is another sale to management, at least some cash changed hands rather than pocket money when Camco Africa, now as far as I can work out now renamed Camco something, was sold to management including a now ex director of Redt ,Scott McGregor.
Completion of Sale Biogas Assets
The board of redT energy plc ("redT Energy" or the "Company") is pleased to announce that further to the announcement on 17 November 2015, all conditions relating to the sale of the US Biogas Assets have now been satisfied and the transaction has completed.
The initial consideration of $2.0m in cash has been received by the Company and the remaining $2.6m will be settled in cash within 12 months. As previously set out, an additional $1.0m of deferred consideration is payable dependent on the performance of the disposed assets in the period to 31 December 2016 and up to 2 years from the date of completion payable in 2 equal instalments.
To see a little more cash in the bin.
Best of
RedT Energy PLC Completion of US Business Activities Divestment
Source: UK Regulatory (RNS & others)
TIDMRED
RNS Number : 2144V
RedT Energy PLC
05 April 2019
This announcement contains inside information
5 April 2019
redT energy plc
("redT" or the "Company")
Completion of US Business Activities Divestment
Further to the announcement made on 14 March 2019, redT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that it has now completed the divestment of its legacy Camco business with the sale of its wholly owned subsidiary Camco International Group Inc. ('CIG'). This business provides project development and asset management services to biogas projects in the USA. Over the last three financial years this business has contributed GBP0.2 million per annum to group Results from Operating Activities.
CIG has been sold to an entity controlled by Jim Wiest, Managing Director of CIG. Cash receipts from the sale consist of a distribution of US$1.0 million to redT funded by a loan into CIG from a third party plus $0.5m of further consideration payable in two equal instalments, the first due 30 April 2019 and the balance due 31 July 2019. It was agreed that working capital balances, including cash of $0.5m, would remain in CIG as part of the sale resulting in a net cash benefit to redT as a result of the transaction of $1m. This will be used to fund the redT business during the Strategic Review announced on 14 March 2019. At the time of sale, CIG had net liabilities of US$0.3 million, including the US$1.0 million loan liability.
The divestment of US business activities constitutes a related party transaction under the AIM Rules. The Directors consider, having consulted with Investec, acting in its capacity as the Company's Nominated Adviser, that the terms of the sale are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
redT energy plc +44 (0)20 7121 6111
Neil O'Brien, Executive Chairman
Joe Worthington, Investor & Media
Relations
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
Jeremy Ellis / Chris Sim / Alexander
Ruffman
VSA Capital (Joint Broker)
Andrew Monk / Andrew Raca / Simon
Barton +44 (0)20 3005 5000
Celicourt Communications (Financial
PR)
Mark Antelme / Jimmy Lea / Ollie
Mills +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage infrastructure which creates revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run contin
Energy Storage News
Thu 4/4/2019 7:47 PM
You
?
Welcome to the newsletter from Energy-Storage.news. Our UK team has reported this week on the world's very first grid-scale lithium-vanadium energy storage project, in a hybrid system being developed by
Pivot Power and using redox flow energy storage from redT at an energy 'Superhub',
also incorporating high speed EV chargers and hundreds of ground source heat pumps for local homes. Amid Japan's ongoing electricity market reform programme, we've heard from another UK energy storage company, Moixa, about its partnership which is deploying more than 10MWh of storage every single month at Japanese households and then optimising system operations to get maximum value for customers and the network alike. A new draft framework published by the Philippines Department of Energy seeks to resolve some of the biggest questions facing the regulation and market integration of energy storage and PV inverter maker Sungrow has enjoyed a big year-on-year leap in energy storage revenues. Thanks for reading and we hope you enjoy using the site.
Andy Colthorpe
Editor
This isn't RED's rns,
https://networks.online/gphsn/news/1001524/energy-superhub-launched-oxford
surely they would have been under embargo before releasing the details of their involvement a project they play a very small part in?
I wouldn't get too upset OF, they all try to produce news to support a fund raise.
Withholding news to affect the SP is another matter and should be reported to the FCA. Its no wonder he was made to step down, probably to protect him.
Hopefully that's all out of the way now and we can see some way forward.
It's believed that the Anglian order is being held up because of planning. Has anybody got any info on this or where the site is?
Buying Continues .
Perhaps this is the start of a new mega clean ,profitable company .
One has to hope.
Best of
Gives hope
I do not have a large position on these, and I never average down on any share, that is a mugs game. If I buy in the same company it is usually a second buy based on its own merits. RedT have serious credibility issues for me proven in the last RNS
on 25th March I wrote:
"· purchase agreement signed for 72 redT units (~5MWh) for a large UK grid project
Both lines are newsworthy and this information is obviously known before the fundraise news. I fully expect one of these to drop in before 4th April."
Yesterdays predictable RNS to boost the SP mars Neil's reputation in my eyes so I tar him with the same brush as Scott.
Whether Redt can pull out of this I really do not know but too many games being played in these shares to be able to take them seriously any more.
Still holding.
Unfortunately a 200% rise only gets most of us to about half (or less) of what we need to break even. If I wasn't already massively over exposed to this share I would buy some more to average down. Unfortunately I can only wait until it recovers.
Held on but nearly sold. Wouldn't sell now at these levels. High risk still but improving on that front. RED beginning to gain traction but still no clarity on the German deal or Anglian which is a concern. So much upside potential but market confidence has been shot. New CEO has decent track record and product seems OK. The market RED is in is going to be enormous and they only need a very small % of it to be really successful. Finance will be a problem until its not and they are trying to sort that out within 4-6 months. Could easily see 200% rise from here in fairly short term but little downside risk for next month or so.
Just some random thoughts and opinion, not advice in any way. I'm sure you'll make your own mind up.
Hi all,
having not looked at this share for a long time (for obvious reasons), I have a message on my share account regarding the open offer which closes tomorrow at midday.
I am yet to make my mind up on this and whether I should put (waste/flush/burn) more money in this share. In no way will my decision be made by what people say on here...
But I am curious as to what peoples thoughts are?? Have those holders got involved? Any commentary would be appreciated.
Surely there’s the same correlation in simple terms to fossil fuel and electric cars? Look at the sudden take up of electric car production - it’s now clearly the future and production from all major car manufacturers has rapidly accelerated so surely it’s only a question of time with lithium and vanadium batteries?
Includes the Oxford super hubhttps://www.gov.uk/government/news/four-leading-edge-demonstrators-to-jumpstart-energy-revolution"The installation of the world’s first transmission-connected lithium ion and redox-flow hybrid battery – 41 other UK sites have already been identified as potential sites for replication."So bigger things to come.
winnings - no VRFB's have a response time of less than 1millisecond
I presume Lithium Batteries are more suited to fast uptake and fast release of electricity, Vanadium Flow Units too slow for the job.