Member Info for Davius

Results and an update are due mid June (i.e. late next week) according to an email I received from the company a short while ago. Good buying today and a decent rise in the share price.

£12.50 - £13.00 would be my target. Currently up overall in IEC so am covered down to £10.90. Very hard to call a bottom on these fluctuations though, might hit £11.50 yet as it's still dropping this morning.

Must be some news out, these are flying very suddenly, SP opened at 54.25p and now up to 59.5p...

I can't see why IEC would NOT want to be in the FTSE 250 index, delaying their entry by three months seems nonsensical, unless they expect the shares to be much higher and get them into the FTSE 100 in September. Another possibility was muted on advfn, that the brokers forgot about the bank holiday in late May and advised them to transfer a day later than they should have :)

I put in a limit order, which went through most of the day looking like it would fail, only to be fulfilled near the close, back in at £12.0049 (nice for a limit order to come in under the price asked for a change). I think the Oleg fiasco remains close to the surface making IEC speculative, but that also makes it potentially profitable. Despite not making in into the 250 this time round, I think there's plenty of recover possible from here.

There looked to be every indication that SOLA were heading over 600p, but now have fallen back to stand at 555-560p on a fair bit of selling. 67K buys against 210K sells. Where to from here then...

IEC didn't get in to the index as they missed the transfer deadline by a day apparently. There are many funds that track the various indices and the expectation was that lots of them would need to buy IEC shares when they were promoted. This now won't happen until the next reshuffle, which happens in September I believe (perhaps someone can confirm?)

cont. The expansion plan for 2008 is under review and details will be announced in due course.

ReneSola Ltd (AIM: SOLA) ("ReneSola" or the "Group"), a leading manufacturer of wafers for the photovoltaic (PV) industry, is pleased to announce an upgrade to the planned 2007 year end production capacity. On 30 November 2006, ReneSola announced that the planned 2007 year end production capacity had been increased to 265 MW. The Directors are pleased to announce that due to the continuing strength of the demand for silicon wafers, the year end target has been raised to 373 MW. In addition to the existing capacity of 165 MW, the Company plans to add 48 MW of new monocrystalline capacity during the fourth quarter of 2007, bringing total monocrystalline capacity to 213 MW. ReneSola previously planned to add 100 MW of multicrystalline capacity during the year. A further 60 MW of multicrystalline capacity is targeted during the third and fourth quarters of 2007, bringing the total multicrystalline production capacity to 160 MW by the end of 2007. The Company has signed a contract with ALD Vacuum Technologies GmbH and paid a deposit for the additional 60 MW of multicrystalline furnaces required for the revised 2007 plan. The Company has also signed contracts with Meyer Burger AG and HCT Shaping Systems SA and paid deposits for all the wire saws required for the production capacity of 2007. Availability of wire saws is currently, and is expected to continue to be, the major constraint on equipment procurement in the PV industry. The expansion

16p oes seem to be the support price at the moment. Once the bid drops below that level the sellers seem to dry up and at 16.25-16.5p buyers return. Hard to say if this is a definitive bottom though. I bought another T20 yesterday at 16.25p to go with my long term holding (average 16.6p so running a small loss now).

Morning Shanny, the reorganisation is so that they can raise money by issuing new shares if required. What effect that has depends on the reason, a placing or rights issue to get a company out of trouble or reduce debt invariably results in a drop in the share price. But if it's for expansion or a takeover it depends on how the markets view the deal. Also, future earn-out obligations, which now look like they won't have to be made until 2009, are 50/50 in cash and shares, so the restructuring could also have been purely for that reason.

Well in the case of PFLM today they did say that the shares had risen strongly since their placing, but for these news articles it's more about what the companies are doing than how the share price is performing. They do ask commentators for opinions on some shares though, and do get the occassional warning, usually masked under, "the shares look to have overrun" or similar. No doubt on Thursday they will make mention of the spectacular performance of the TAN share price but I don't think that that will have any negative impact.

Tomorrows program: Simon is in America looking at portable fuel cells and how the London stockmarket is putting up the money. Doesn't say what company though. http://news.bbc.co.uk/1/hi/programmes/working_lunch/5398472.stm

You don't need to buy beforehand, just get in before the rush at the end of the article :) Fascinating review though, they make sola panels which can be sewn into products like tents used for the forces. Potential is huge though, you could cover every rooftop on the planet in these thin flexible panels. Did get a quote at 2.98 and could now sell at 3.12, so a small profit of about 3% after costs was there for the taking. RVA came back off the top yesterday though, so interesting to see if PFLM does the same today. TAN Thursday I believe, don't know who will be featured tomorrow, SIT or SOLA perhaps :)

A few small buys kicking in at the end of the report, not enough to get them moving yet though. Tanfield tomorrow, or was that Thursday?

Will it do for PFLM today what it did for RVA yesterday? Looks like a fantastic prospect for the long term.

Someone posted this line on advfn: 'rumours of vague bid talk...post later when i can confirm' Personally I think it's just another made up story, but the buyer are back in force suddenly and the price is creeping back up. I think more likely is that with SBT quarterly figures due tomorrow and a possible bid from BWIN for that company, the sector is due for a bit of a shake up. And not many companies offer better value than LNG at the moment. It would be nice if we've bottomed out at least.

Well I can see the irony here. AC Milan beat Liverpool and the shares took a knock but recovered. Then the update came out revealing a hefty loss in May on the back of that result and since then the share price has taken a dive by over 20%. The loss means that profits will be low enough this year to save any potential earn-out payment (which probably would have been much higher than the loss in May). Thus the result makes them better off overall, but the market reaction drives the shares lower as account punters (me included) were hoping for a better performance. The irony? If Liverpool had won, we'd have a hefty profit from the first 5 months of the year, the share price would probably be in the mid 20s yet the company would be worse off as they'd need to make the earn-out payment in 2008. So where to now? I ditched my account shares at a loss at 17p today, I'll leave my core holding in for a couple of years (average 16.6p) and buy a new van with the profits in Autumn 2009, along with a World Cruise and a new kitchen. :)

Anyone shed any light on what happens to the shareholders funds when a company delists? I think that the face value of the shares is usually paid back to the shareholders, if the company has the money, is that correct? Here's hoping you get some kind of a return.

Have decided to sell my IEC shares, out at 12.7621 for a good 16.1% after costs. Pleased with the performance and it offset short term losses on LNG, I've closed a couple of open positions there too. I think IEC have plenty of potential and will look to buy back in on any retraction.