Member Info for jange

we may here why working capital is needed soon...

Agree and still only 10m shares on offer.

Following completion of the Placing, Water Intelligence's issued share capital will consist of 10,567,650 Ordinary Shares with voting rights. Water Intelligence holds no Ordinary Shares in treasury.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=WATR&ArticleCode=ygf0527x&ArticleHeadline=400000_Placing

Nitin B Parekh, Chief Executive Officer, commented "This is a major step forward for XCAP Securities plc in entering the Indian market. We are extremely confident of the long term growth prospects and look forward to working closely with Chola Securities on corporate opportunities. The ability to distribute our funds is extremely exciting given the size and the growth rate of the wealth management industry in India." Vellayan Subbiah, Managing Director of Cholamandam Investment and Finance Company Ltd, commented, "We are pleased with this partnership. It is a significant step in giving our clients a global reach. XCAP-Chola partnership will open gateways for HNI & small and medium corporates to tap into offshore opportunities in Broking & Corporate Finance respectively. XCAP will also benefit immensely from the large Chola client base and research expertise. We are looking forward to working closely with our partner to ensure investors benefit from this alliance."

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=XCAP&ArticleCode=8x6hci1c&ArticleHeadline=Agreement_with_Cholamandalam_Securities_Ltd

After Repsol's board approved the beginning of negotiations with Argentina on compensation for being stripped of its share in energy group YPF, Citi commented on Thursday that the "surprise" agreement leaves an investment opportunity. When the Argentine government seized the Spanish oil company's 51% stake in YPF last year, there were many who felt that Repsol would be left with nothing and Citi admitted that their base-case assumption at the beginning of this week was that it was unlikely to receive any compensation for the nationalisation, that arbitration was set to take six to 10 years and, even then, there would have questions about whether Argentina would honour any outcome. "The surprise for us in the past two days has Argentina's willingness to strike a deal," these experts said. "The government appears to be keener than we thought." In this context, Citi said that "we now believe YPF is worth something again" and upped its price target on Repsol to €23 from €21 and affirmed its buy rating. No official details on the deal have been given, but the Spanish press has set the compensation at $5bn (approximately £3.1bn) in Argentine 10-year bonds. Repsol originally requested $10.5bn for the loss of its investment.

Ceramic Fuel Cells (CFU) has agreed to sell 1,000 BlueGEN small-scale electricity generators to its new Baltic distribution partner over the next two years, more than double the number of units the company has sold in its history. The Australian-based company said the units were valued at more than €20m in total and that it has appointed Synergy International, a company co-founded by major Estonian electrical wholesaler Tameo Grupp, as its exclusive distribution partner for the Baltic States, Finland, Sweden and Norway. Synergy will be responsible for arranging the distribution and servicing of CFU's BlueGEN micro combined head and power (micro-CHP) product, purchasing units from CFU on a take-or-pay basis, with 50% of the price of the initial 500 unit sale will be paid to CFU before the end of this December. The take-or-pay agreement means if Synergy do not take the units they agree to pay a provision for not buying them. An initial 500 BlueGEN units will be bought in the 2014 calendar year, with the first 100 delivered in the first quarter, and a further minimum 500 units in 2015. After the initial sum, further payments will be paid quarterly in advance for units to be delivered during 2014 and 2015. In the year to June CFU made revenues of AU$4.27m (€2.8m).

John Laing, the FTSE 250-listed infrastructure investment company, has completed its acquisition of a 50 per cent stake in the Kelowna & Vernon Hospitals public-private partnership (PPP) project in Canada. The purchase, which marks its third investment in the Canadian secondary PPP market, takes its total portfolio to 51 projects. Canadian assets now make up 12% of its portfolio by value, it added. The investment was made following the group's largest ever capital raising earlier in the year, which raised funds of £242.3m. David Marshall from John Laing Capital Management, Fund Manager to the company, said: "We are delighted to announce the acquisition of this high quality asset following the largest capital raise we have competed since our listing in 2010. "This asset further diversifies [John Laing's] portfolio and [it] has now acquired £201m of projects in 2013. The existing debt facility has already been repaid in full using the proceeds of the capital raise and we continue to actively seek new growth opportunities."

Lower regional crop yields, heavy rainfall, a replanting programme, lower selling prices and foreign exchange losses all added up to plummeting profits for New Britain Palm Oil in the year-to-date. The first nine months of 2013 saw the FTSE fully listed group process 1.6m tonnes of fresh fruit bunches (FFB), some 7.2% lower than the same period last year, including 12.2% less from smallholders. What's more, crop yields were lower across Malaysia and Indonesia, which the company attributed to a biological effect in oil palms. And added to that, despite shipping a higher 417,702 tonnes of oils during the period it was hit by lower market prices, achieving an average price of $904 per tonne compared to 402,949 tonnes at $1,122 last year. Total sales fell from $528m to $431m, with a $24.9m foreign exchange loss contributing to a 76% fall in profits to $18.5m. Chief Executive Officer Nick Thompson said although current conditions remained challenging, the business was now well positioned to capitalise on an improving palm oil pricing environment with the expected return to normalised fruit production and extraction rates in 2014. "Significant cost base reductions achieved through management initiatives and the circa 20% devaluation of the Papua New Guinean kina year-to-date should further contribute to improved operating margins."

just think this was 37p 5th of november.........

Positive Points: Intermediate Capital Group and Nomura Holding Inc have agreed to set up a mezzanine debt fund in Japan, citing increased demand as the world's third-largest economy recovers. Each company will allocate 10 billion Yen to the initiative. Operationally, strong fundraising momentum across products was reported, with 2.4 billion euros committed to date. ICG anticipate another record fundraising year for third party assets under management. The hike in pre-tax profits was primarily due to the inclusion of £110.1 million recycled to profit from reserves. A progressive dividend policy continues to be pursued. The total dividend for the last full financial year was increased by 5.25%. An interim dividend of 6.6p has been proposed.

Negative Points: While ICG's investment portfolio remains broadly resilient, a reducing number of weaker assets continue to underperform, reported management. Total group Assets under Management (AUM) declined by 6%. The group has exposure to interest rate and foreign exchange risk. A marked deterioration in economic conditions would impact on group performance. The company has substantial exposure to euro-denominated assets.

Financial Highlights: Intermediate Capital reported a rise in pre-tax profit to £155.3 million, from £39.6 million in the same period a year earlier. The period saw high levels of balance sheet realisations. As a consequence, total assets under management were down 6% to 12.1 billion euros since 31 March. An interim dividend of 6.6p was declared, an improvement on the 6.3p paid a year earlier. Overall group debt improved from £1.1billion to £740 million in the period.

Interim results: Specialist asset manager ICG and Nomura Holdings Inc have agreed a 50:50 partnership to facilitate the future structuring and distribution of new domestic mezzanine investments and funds. The funds will be managed by a local Japanese fund management company that will be established. Nomura and ICG have agreed to allocate 10 billion Yen each to the initiative. It is planned that a fund would provide institutional investors opportunities to invest in mezzanine debt with financial sponsors and in growth/expansion capital. Alongside the announcement, ICG reported first-half pre-tax profits of £155.3 million, up from £39.6 million in the same period a year earlier. The company's assets under management shrank 6% to 12.1 billion euros, primarily because of a reduction in the value of its investment portfolio. Meanwhile, Intermediate Capital said it has seen strong fund launches, raising 2.4 billion euros. These included ICG Longbow's third fund closing at £700 million, Senior Debt Partners' strategy on target to close in excess of 1.5 billion euros, and two European collateralised debt obligations totalling 950 million euros were also raised. "We have shown excellent fundraising momentum during the period. We are approaching the final close of our Senior Debt Partners strategy which, when reached, will be the third successive product to achieve its maximum size. Our funds are also investing on schedule and we have a solid pipeline across all of our markets" Christophe Evain, Chief Executive, said in a statement

Positive Points: Adjusted earnings materialised at the upper end of analyst forecasts. For the group's Africa business, adjusted earnings (EBITA) grew by 15% (16% on an organic, constant currency basis) as a result of the increase in volumes, with good growth in Tanzania, Zambia, Nigeria and Ghana highlighted. Management noted previously that "following a challenging start to the year, trading conditions in Europe and North America saw a modest improvement in the second quarter." For its North American business, EBITA increased by 3% as a result of increased profitability at MillerCoors. For Latin America, adjusted earnings (EBITA) grew by 6% (10% on an organic, constant currency basis). Effective development and extension of its brand portfolios continued to drive an increased share of total alcohol consumption across the region. Growth in soft drinks was driven by pack innovations in Peru and Ecuador. A positive 1.7% improvement in reported profit (EBITA) margin was achieved through a combination of net producer revenue (NPR growth), cost reductions and the phasing of marketing spend. In China, adjusted earnings benefited from an increased focus on efficiencies and fixed cost containment along with higher group net producer revenue (NPR). The group acquired Australian brewer Foster's in December 2011. The board previously noted that its "business integration plan in Australia is currently ahead of schedule and showing positive early signs." The group's dividend policy continues to be progressive. The half year dividend per share was increased by 4% compared to the prior year.

Negative Points: The depreciation of key currencies against the US dollar will adversely impact reported results in the current financial year. For the group's European division, adjusted earnings (EBITA) declined by 1%. Reported (EBITA) margin declined by 1.9% due to the impact of adverse channel and brand mix in Poland. The group's Chief Executive previously noted that "our first quarter revenue growth was held back by unseasonably cold and wet conditions in many of our northern hemisphere markets, which negatively impacted beer consumption." US domestic sales to retailers (STRs) declined 3.2% for the half year, and by 1.9% in the second quarter. Raw material and input cost pressures remain a concern.

Financial Highlights: Group revenue marginally higher at $17.559 billion ($17.476 billion). Adjusted earnings (EBITDA) rose by 4% to $3.27 billion. Half year dividend increased by 4% to 25.0 US cents (24.0 US cents).

Half year results: The results materialised at the upper end of analyst forecasts, with growth in Africa helping to offset more difficult conditions in Europe and North America. The share price rose by over 2% in opening stockmarket trading. The Chief Executive noted that "we have continued to deliver on the potential of our businesses in both developed and developing markets, with revenue and margin improvements amid mixed trading conditions." Lager volume growth of 1% on an organic basis was reported, reflecting strong growth in Africa and South Africa, partially offset by declines in Europe and North America, although growth in sales of higher margin products helped to drive an improved profit (EBITA) margin in North America. Accompanying management outlook comments noted that "trading conditions are expected to remain broadly unchanged, with growth continuing to be driven by our developing markets. The depreciation of key currencies against the US dollar will adversely impact reported results in the current financial year.

Positive Points: National Grid, which also has operations in the northeast of the United States, said its capital expenditure programme for 2013/2014 of around £3.5 billion was expected to drive regulated asset growth by around 6%. The company's UK businesses, in their first year of new price controls, are on schedule to deliver "strong returns" Chief Executive Officer Steve Holliday said in the statement. National Grid said its robust financial position and strong credit ratings, in the medium term support its policy of growing the dividend at least in line with RPI inflation for the foreseeable future. This new dividend policy was announced on 1 April. The company benefits from a strong balance sheet, underpinned by regulatory revenues, which is important as this secures the required long-term funding for both the UK and the US businesses. A progressive dividend policy continues to be pursued.