Member Info for optimist13

Brightonscot...good to know you are still here. I am sure our patience will be rewarded in the fullness of time.

Oops....should read...any buy under the mid price.

Hi b9boy - I have a significant holding here so I constantly monitor the buy/sell price. When you have a large quoted spread, any buy over the mid price will show as a sell. As an example, the 100k trade at 1.04p shows as a sell, but it is clearly a buy as the trade before that was a sell at 0.92p. Hope this helps.

That's better, a bit of two way traffic and the real spread has narrowed. Some buys are now being shown as sells, and the spread is currently circa 11.5%.

b9boy - this is a fairly illiquid stock, and many PI's do not have long term horizons, especially on AIM. Perhaps I should have said that the MM's are not encouraging buyers. If you only look at the advertised buy/sell price, the spread is circa 28%.

Yes, they have opened the spread and you can now buy at 1.19p, but they are certainly discouraging any trading with an offer price of 0.90p. It doesn't bother me as I am here until the business is either sold or re-capitalised from the sale of assets.

And so it continues.....the offer has moved up on one buy to 1.15p, but you still can't get an online quote. Not sure what is going on, but it certainly looks like the MM's do not want to encourage any buying at the moment. Maybe we will receive some news sooner than I previously thought.

Still can't get an online quote to buy at the quoted ask. Oh well, let's see what tomorrow brings.

The offer has moved up to 1.10p and you still can't buy online currently. Moving up on relatively small volumes as well.

And the daft thing is, we have £48m worth of assets and only £7.5m worth of liabilities.

Back to NT again. Cannot buy any shares online currently.

No problem. With regard to the statutory notice, I am not an accountant, but a quick search on google will give you an idea of what it entails and the process the claimant has to go through. Given that it appears to be Peter Earl pulling the strings, I think he would have a great deal of difficulty enforcing the claim given his previous involvement in Rurelec, but I feel sure there is some ulterior motive to this. I just keep telling myself the assets are real, valuable and the new board will ensure that maximum value is achieved for all stakeholders. I certainly would not say that about former directors given their attempt to force through a very low ball open offer.

b9boy - if you are a long term holder, you will know that the situation between the associated companies, directors and former directors is very complex. From memory, we owe IPSA £1.5m for the outstanding purchase of turbines, which originally cost circa £16m. However, we still have the two turbines in storage awaiting either sale or used in a new/pending project. As I said earlier today, I cannot see how we owe any monies to IPC, and if we do, it can only be for a negligible amount in relation to the assets the company holds. The key for me is the effective control of the company by the administrators of Sterling Trust who have not been part of the value destruction of the company and whose sole objective is to gain the best price for the creditors of Sterling Trust, whose interests are aligned with our own. At the interim report, we were advised that EdS owe the company £37.5m in outstanding borrowings and interest. EdS is profitable, and given the changes in Argentina, should now be paying back some of those outstanding borrowings. I firmly believe that even in a 'fire sale' the return to investors will be significantly more than the current share price, but I am hoping that the company will continue as a profitable business moving forward once some of the current assets are sold. Good luck with whatever you decide to do.

Hi jeddicat - negotiated trade. When you can't get a quote on line you can either ring your broker for a price, or place a 'limit order' to buy shares, otherwise known as a 'fill or kill'. However, the price has moved up since my post and you can now get a quote at the full offer price of 1.00p.

Afer all of the write-off's last year to reflect the true current worth of the company's assets, the net assets are now deemed to be worth a minimum of £40m. At the current mid -price of 0.95p for the share, the mkt cap of the company is £5.3m. So, we have a discount to net assets of 87%. From the last report, we have been told that the repatriation of funds from EdS in Argentina should be increasing, and the significant reduction in overhead will significantly improve the financial performance. If you strip out the exchange rate gains at the half year, the company broke even and there is nothing to suggest in the interim report that the improvements in performance will not continue going forward.

The first two trades this morning were my buys. Good luck anyone trying to buy though currently. Cannot get a quote to buy 50k without it going to NT.

Good afternoon Guys, just back from my skiing trip and I see Peter Earl is up to his tricks again. He must be getting desperate for money to be issuing a 'Statutory Notice'. Looked back through my notes and don't understand how Rurelec can owe IPC any money, unless it was for services rendered after the transfer of the business. This from the accounts RNS dated 30 September 2015; 5. Spin out of Independent Power Corporation PLC "In June the subsidiary Independent Power Corporation PLC ("IPC") was spun out from the rest of the Group in an agreement with Peter Earl the former CEO of Rurelec. The principal assets and liabilities of IPC have been transferred to Rurelec in addition £500,000 of annual overheads were transferred with this agreement to IPC. This transaction has caused an impairment of the assets of the Group to reflect the write off of the investment in IPC of £1.3 million and the balance of £1.1 million of goodwill that arose on the original purchase of the business. This is countered by the transfer of £1.4 million of assets to Rurelec." The outstanding payment to IPSA is well documented and is well covered by the assets the outstanding debt is for. Perhaps we should sell them back to IPSA at the price we paid for them. Interestingly, I have looked at PE's Linked-In page and there is no reference to any employment or otherwise with EdS in Argentina, and he lists IPC as his current directorship. As has been pointed out, the value of our assets far outweigh the current derisory mkt cap of the company, and as usual the MM's are taking advantage of the uncertainty. Unfortunately, I cannot see much change to the current situation in the short term until the directors complete the sale of one of the assets, but my view on the worth of the company remains unchanged.

Interesting development: http://www.cnbc.com/2017/01/05/reuters-america-update-2-argentina-ends-holding-period-for-foreign-capital.html Extract: * "Last barrier to entry of foreign capital" -government * Earlier, fund repatriation required a 120-day wait * One of first measures signed by new treasury minister (Adds comment from brokerage) BUENOS AIRES, Jan 5 (Reuters) - Argentina's government ended a required holding period for foreign capital in a decree published in the official gazette on Thursday, in order to attract investment with the country mired in recession. Previously, investors had to wait 120 days to repatriate funds they had moved into Latin America's No. 3 economy. The finance ministry said in a statement it had eliminated "the last barrier to entry of foreign capital." The measure was one of the first signed by Treasury Minister Nicolas Dujovne who took office this week, one year into center-right President Mauricio Macri's term. Macri's administration has implemented several reforms to reintegrate Argentina back into the global economy. They include removing capital controls, relaxing reserve and deposit requirements, and ending a debt dispute with hold-out creditors.

Good afternoon everyone. Haven't posted in a while but still here. Bought back some of the shares I sold today and it looks like the MM's are not holding any stock judging by the jump in the price. Don't expect to hear anything from the company in the near term, but I am sure the end game cannot be that far away now and of course we have our new director overseeing events. Happy Christmas all and I certainly hope it is a prosperous New Year for all LTH's here.

Just added a few more on the drop this morning. Cash of circa £900k compared to a mkt cap of £608k...what's not to like.