RNS Number : 1844Z
Oracle Power PLC
16 May 2019
16 May 2019
Oracle Power PLC
("Oracle" or "the Company")
Update re Ceremonial Signing of MOU
Further to the announcement of 3 May 2019, Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan (Thar Block VI), advises that it received confirmation on 14 May 2019 from Beijing Jingneng Power Company Limited ("Beijing Jingneng") that the Memorandum of Understanding ("MOU"), ceremonially signed on 27 April 2019 by representatives of Beijing Jingneng and PowerChina International Group Limited ("PowerChina") and Oracle, as announced on 29 April 2019, is only ceremonial and does not replace the Memorandum of Understanding announced on 27 March 2019 ("March MOU"). This is in addition to the clarification received from PowerChina on 2 May 2019.
As such, the Company and its partners consider that the March MOU remains valid.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please contact:
Alvin Yip, Co-Chairman & CEO of API POLY-GCL, said:
"API POLY-GCL see significant potential for Quadrise's MSARÂ® technology to add value to our power generation assets and downstream offering. We look forward to working with Quadrise to progress projects in a rapidly growing economy that is keen for energy efficiency and cleaner energy, where MSARÂ® technology and fuel offers material economic and environmental advantages.
We believe the combination of our extensive resources, strong network, assets and market knowledge, together with Quadrise's MSARÂ® fuel application expertise, can enable the first MSARÂ® project to be initiated in China during 2019."
We had another remarkable year both in terms of financial and operating performance. We delivered on our annual commitment in these pages for sustainable, multinational growth. Year-over-year, we grew revenue by 45% to $25.5 million (2017: $17.6 million) and profit before tax even faster by 53% to $1.8 million (2017: $1.1 million). Further, our shareholders benefited with fully diluted EPS growth of 21.3% to 9.1 cents per share (2017: 7.5 cents per share). Our balance sheet is strong and we have cash required to execute our growth plan. Moreover, as we will discuss below, robust financial performance results over the last five years underscore not only sustained growth but also an acceleration of that growth path. Water Intelligence profits before tax adjusted for non-core costs and non-cash amortization expense at $2.4 million exceeded 2018 market expectations.
Operationally, the foundations have been laid for continued strong performance. We have expanded cross-selling efforts between our American Leak Detection (ALD) and Water Intelligence International (WII) subsidiaries so that we can capture an entire matrix of opportunities - residential, commercial, municipal, clean water and wastewater - as complementary business lines with reduced customer acquisition costs. Further, we have reinvested profits and are launching new proprietary products for each subsidiary to sustain growth in market capture. Yet, before discussing our strong 2018 performance and current momentum, we should underscore that demand from the global marketplace has provided us with a tailwind to deliver a very valuable company for our investors as we continue to scale operations.
Water and infrastructure services, as a global investment category, continues to gain salience because market demand for solutions is anticipated to remain strong irrespective of volatile macroeconomic or political conditions. Market research indicates that total global spending on water and wastewater currently amounts to $771 billion with capital expenditure expected to rise between 2019-2023 by 4.7% compounded annually, which is higher than forecasts of worldwide economic growth. Moreover, the water infrastructure crisis has reached areas typically less visible to the marketplace. On March 7, 2019 the Wall Street Journal published "American Homeowners and Their Insurers Face a Flooding Crisis From Within." The article indicated that over the last five years, the frequency of water-damage claims is rising affecting 1 in 50 homeowners and posing a $13 billion problem for insurance companies. The article identified a hot new market for innovation called "InsureTech." Water remains our most precious natural resource around the world and may be considered a safe haven for investors.
The research marketplace is responding to such demand. Columbia University, with whom we have a strong relationship, has recently announced the launch of its "2019: A Year of W
Â· January to April 2019 starts fast on all fronts: (i) another major US insurance company win; (ii) franchise sale; (iii) corporate-operated organic growth and (iv) three more franchise reacquisitions to fuel 2019-2020 growth; On track to meet market expectations
Dr. Patrick DeSouza, Executive Chairman of Water Intelligence, commented: "We have an exciting opportunity ahead providing solutions for infrastructure problems affecting the world's most precious resource. Global market demand for environmental solutions, especially water-related, as evidenced by initiatives such as the Green New Deal, is growing irrespective of local political and economic conditions; this is good news for the Company and its investors. In three important ways, we have created the operating foundation to scale our business and seize the opportunity: (i) sustained, multi-year, high octane financial performance to gain critical mass as a Company; (ii) an emerging distribution platform with a broad set of offerings to customers on both sides of the Atlantic through our American Leak Detection and UK-based Water Intelligence International subsidiaries; and (iii) reinvestment in new technologies for the fast emerging "Insuretech" and sewer and wastewater markets that advance our profile as a leading technology company in the water infrastructure space. Our leadership team, both corporate and franchise, are unified and on a mission to build a world-class company."
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain
RNS Number : 4902Y
Water Intelligence PLC
09 May 2019
Water Intelligence plc (AIM: WATR.L)
("Water Intelligence", the "Group" or the "Company")
Audited results for the year ended 31 December 2018
Water Intelligence, a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water, is pleased to present its full, audited results for the year ended 31 December 2018.
Copies of the Annual Report will be made available to view on the Company's website at www.waterintelligence.co.uk.
Â· Revenue growth once again strong at 45% year-over-year reaching $25.5 million (2017: $17.6 million)
o Total System-wide sales (franchisee gross sales and corporate-operated sales) pass $100 million
Â· Profit before tax growth exceeds revenue growth at 53% year-over-year reaching $1.8 million (2017: $1.1 million)
o Profit before tax adjusted for non-core costs (non-recurring, amortization, and share-based payments) grows 44% to $2.5 million (2017: $1.7 million)
Â· Sustained growth and acceleration of financial performance
o 2016-18 CAGRs: Revenue 45%; PBT 51%
o 2014-18 CAGRs: Revenue 37%; PBT 32%
Â· Core business units - American Leak Detection (ALD) and UK-based Water Intelligence International (WII) both grow strongly establishing a Group distribution platform for a broad matrix of residential, commercial and municipal/water utility solutions to address both clean water and wastewater problems
o ALD revenue grows 45% to $22.6 million (2017: $15.5 million)
Â§ Royalty income from franchisees grows in absolute terms by 5.7% to $6.3 million (2017: $5.9 million) despite additional franchise reacquisitions
Â§ Corporate-operated sales grow 70% year-over-year to $10.1 million (2017: $5.9 million)
Â· Organic growth from corporate locations held since January 1, 2017 of 34%
Â· Corporate locations profit margins triple (2018: 12%; 2017: 4%) driving the Group's increase in PBT while reinvesting for sales growth
o WII revenue grows 39% to $2.9 million for 2018 (2017: $2.1 million)
Â§ Maiden PBT of $0.03 million (2017: $(0.16) million)
Â· Water Intelligence balance sheet strong with net cash: +$2.6 million
Operational and Post-Period Highlights
Â· Technology reinvestment for initial deployment during 2019 to support future growth: (i) sewer diagnostic tool ("Orca") advancing WII's water utility offerings and (ii) AI-driven video display to enable contextual commerce of consumer products from the video supporting ALD's growing business-to-business insurance channel and advancing ALD's penetration of the "Insuretech" product market
Â· Confirmation of new Board Member, Bobby Knell, who was the former owner of the highly successful Dallas franchise and has been Managing Director in charge of franchise relations for the last five years
09 May 2019
("Sosandar" or the "Company")
The Company has been informed that yesterday, Mr Mark Collingbourne, Finance Director, transferred 125,000 ordinary shares in the Company ("Ordinary Shares") at price of 26.75 pence per share from his personal account to his SIPP. Following this transfer, Mr Collingbourne's interest in the Company is unchanged.
Initiation of CoverageThu, 9th May 2019 07:00RNS Number : 4424YNostra Terra Oil & Gas Company PLC09 May 20199 May 2019Nostra Terra Oil and Gas Company plc("Nostra Terra" or the "Company")Initiation of CoverageNostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, is pleased to announce that Shard Capital Partners LLP has completed a comprehensive initiation equity research note on the Company (the "Note").The Note can be found on Nostra Terra's website (www.ntog.co.uk), or alternatively by contacting Shard Capital (information provided below).....