Member Info for optimist13

Brightonscot - well, the current directors of Rurelec will hold no sway over the outcome as they do not hold any shares in the company themselves. As I have said many times, in my view it will be the two largest shareholders, Sterling Trust and YF Finance who are controlling events. The fortunate thing is they have been invested for a very long time and will be sitting on huge losses currently, and more importantly, they will be aware of the value of the assets.

So, the buys now exceed the sells, but the share price is being held down. Oh well, it will just make the rise so much larger when the offer is confirmed by PE and his consortium. I make it 4 more working days for them to put up or shut up.

Seems very strange that a sell trade has just gone through when we are so close to an offer being confirmed for the company. Wouldn't surprise me if it was PE or one of his cronies keeping the share price depressed.

MrPeep, many thanks for that clarification.

MrPeep, I have read that part of the disclosure, but I am pretty sure that only relates to a position where the offer is likely to be in cash and has been stated as such. See below: "Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified"

GFD, I have just cross-checked the company's website, and all of the notifications are listed in the 'news' section.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RUR/13405960.html http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RUR/13402954.html http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RUR/13407191.html

GFD, I filed and it has been reported - A W Oliver 6.2m shares. Some of the notifications only appeared on the London Stock Exchange website, not sure where you pick up the RNSs from. I have re-read the disclosure information and I believe PE would have to disclose his holding. I also believe he should disclose his position at EdS, if indeed he is still VP of that company. I think you will find that the disclosures are correct. 77.7% of the shares are accounted for and like yourself, there are probably quite a few people who are just below the 1% threshold.

Talk about manipulation. Pretty much all buys for the past few days and yet they still mark it down this morning on zero trades.

Well, I hope you are right. Are you buying more today?

Darchidze - to my mind, the whole deal hinges on what the administrators for Sterling Trust will accept for the 54% shareholding they control on behalf of the creditors of that company. They should know better than anyone what the value of the assets are as they have employed specialists in that field to advise them on various sale scenarios. I am pretty sure we will have to accept what the administrators will accept, but how much that is is purely guesswork at this stage. The outstanding borrowings and interest before impairments owed by EdS was given in the interim report and at that time stood at �37.9m.

Another '1' trade....does that mean we are going to get two RNS's.

So, all buys today so far, but they haven't moved the price up, yet they dropped the price on no trades this morning. MM's and their mind games. Trying to get some cheap shares before the next RNS.

Not sure really, but as I said last week, it will have to be high enough to tempt the administrators for the Sterling Trust block of shares and the block held by YF Finance. My guess would be a minimum of 3.00p, but at that price they would be stealing the company IMHO.

As PE has not notified the market of an interest of more than 1% of the shares, it makes you wonder when he was selling and whether the timing of those sales could have had a detrimental effect on the share price. Not sure of the regulations regarding the disposal of shares prior to an announcement being made, but it would be interesting to know. The deadline date for making a formal offer is the 8 November and I wonder if the consortium will wait until the last minute to state their intentions.

For the believers...a 1 share trade...RNS imminent.

Or the lack of. No trades today, but the share price has dropped. Plus, the buy trades were higher than the sells on Friday. go figure.

Well, the administrators for Sterling Trust have twice blocked attempts by the board to dilute existing shareholders out of existence, so I can't see them rolling over on a 'low ball' offer. We know the administrators have has discussions with interested parties, so you would think a minimum price for the 54% shares would have been stated. Let's face it, PE and his consortium are going nowhere if they can't agree a price with them. This has been a long drawn out saga and I just hope LTH's here receive a fair price for their shares, although I am sure most will still see a significant loss on their investment.

$55m invested in EdS. From the website: Energ�a del Sur S.A. (EDS) is one of the largest thermoelectric generating plants in the Argentinean Patagonia It`s Combined Cycle has an installed capacity of 138 Mw that supplies diverse sectors of society and the power industry with sufficient quality and quantity to contribute to the development of the population as a whole. EDS has carried out a sustainted expansi�n plan since 2004 with a total of U$S 55 million invested. The last leg of the plan addition was the installation of a 60 Mw steam turbine and two heat recovery generators incrementing EDS`s installed capacity by 77%. This addition permitted EDS to become the world�s first combined cycle to successfully complete registration in the United Nations Framework for the Clean Development Mechanism defined in the Kyoto Protocol. It is estimated that the Patagonian plant will reduce approximately 500,000 tons of carb�n dioxide emissions between 2009 and 2012 thanks to the additional energy generated by switching from a simple to a combined cycle. Energ�a del Sur thermoelectric plant in COmodoro Rivadavia, Argentina

So, I make that 77.73% of the stock accounted for. If PE and his consortium are going to get control of the company, the offer will have to be acceptable to the main shareholders IMHO.