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http://issuu.com/alaincharles/docs/orme_3_2013_final Good news, need to land one now though.
http://www.lamprell.com/media-centre/lamprell-times-newsletter/2013.aspx Interesting read and shows that there is more than just rigs to the company.
with you jolly, topped up and will sit and wait it out.
Think you forecast by the 16th? ;-)
I now hope that there are some director buy ins and a contract announcement before the onset of Ramadan. Well one can hope!
Reading back through if RUR have their case settled against Bolivia they will then initiate payment of 4.2 million less the 1.8million owed to the directors, cash on hand 2.4m, a power station and various other bits of turbine cash for the princely market cap of 4m, and if we havent yet sold the 1million of RUR shares granted? Plenty in the tank for this one.
Im guessing that they will be another contract update before year end yet and will hold for the run up.
I would imagine that it was held pretty much there for this buy, as we have seen before it has flew through 5p just on rumour/expectation of the sale of the turbines, there should be newsflow of the deal being done and also handover of the turbines as well as the update as Bonum has said over the next couple of weeks.
RNS states that they hold parts that will be sold at a later day, normally large pieces of equipment may be sold with aftercare parts, normal wear and tear that come as part of a planned maintenance schedule, being as it will tae time to install these turbines they would not currently be required by RUR but would once they turn them on, all in my opinion anyhows.
To Rurelec as forecast, albeit through Debt right off? and cash of 4.2m over two years.
Yes Bonum, I think I have also wondered aloud whether this may be an option for them. We will see if/when RUR settle with Bolivia.
Works for these, kn0b could have given me the wink.
Hopefully Thursday or Friday this week
It's normal for a company to have a resolution to buy back their shares, there was a big drop last week and probably relief that there were no surprises announced after the RNS that was dropped in on the afternoon of last years meeting. I would seriously doubt that the company will buy back its own shares when it is sorting out its banking covenants.
No worries Razor, apologies for the spelling but i was being beaten up by my toddlers whilst typing.
I went along this morning and left there feeling very confident on the future of Lamprell. Whilst there wasn\'t any news that is not already public disclosed there was (from my point of view) a very positive outlook. Firstly this is my version of events and I didn\'t take extensive notes so do not take anything I write as gospel and I apologise for anything that is wrong as several individuals commented that they read the forums. In terms of shareholders there were six present including Steven Lamprell an his lovely wife Gillie who both took the time to introduce themselves, in relation to the article above about the location of the AGM I mentioned this to Deena Mattar (ned and who also took the time to come over and have a chat) and she commented that as an Isle of Man listed company it had to be held outside of the UK for tax reasons. The meeting generally started and went through the resolutions uneventfully other than a reporter who had arrived 15 minutes late and was not granted access, he/she was relayed a message that John Kennedy would speak to them after the meeting, when I left there wasn\'t any sign of the reporter waiting so if anything is wrote about being barred its because the lazy arse couldn\'t be bothered to get somewhere on time and not because anything was happening untoward. The meeting was then opened upto questions, basically a summary of answers were that the company is in a much better place, there is support from the banks, the company has a very good reputation with its customers for the quality of its work and staff, they had to get the Olsen boats out on time (which they did, even 24hrs early) which they had to use a lot of labour (not in the most efficient manner than they normally would)for and this delivered a 7m dollar bonus, that they are busy and have foresight for this years revenues and part of next years. The meeting was then brought to a close and I then had a brief chat with Steven Lamprell who came across very confident that the business is moving forward and has the right team in place to do that. Two of the directors gave me their cards and told me I could contact them if I had any further questions as did Steven. In summary I left a lot more confident than when I went in and found it a good expierience (my first AGM), I found people open and the rhetoric sounded very confident and bright at the same time as there is hard work been done over the last six months and that has to continue throughout this year. Once again, these are my observations and feelings, and if anyone is wondering the biscuits were like a light butter shortbread.
I had an email last week, it has been delayed opening due to heavy floods, it won't result in a material reduction of income.
Was the walk around as part of work?, are you going to the AGM next week?