Member Info for optimist13

I see the debt deal has been approved. This will have a significant business as it opens the door for the country to borrow funds at substantially lower rates and makes it a much better prospect for attracting inward investment. http://www.bbc.co.uk/news/business-35931839

GFD, whilst I agree with your comments entirely, the intentions of the administrators for Sterling Trust whose main assets are in Rurelec and IPSA may be different if they were only in Rurelec. They have a legal obligation to extract the best price for those assets, and it may be deemed more beneficial to agree the purchase of the IPSA assets if they can extract a higher price for the block of shares they hold. It is all very messy and IMHO not in the best interests of all shareholders. However, sooner or later the company are going to have to make an announcement, and once they confirm that funds are being repatriated from Argentina, there should be a significant re-rate of the share price.

Further update this morning regarding the suspension of shares: http://www.investegate.co.uk/ipsa-group-plc/rns/statement-regarding-suspension/201603301030025340T/ I believe IPSA have until the end of July to complete a transaction or the company will be de-listed. Without Rurelec they are insolvent, so the end game is in sight.

http://www.thedialogue.org/resources/energy-in-argentina-a-new-investment-climate/ Extract: "There may also be important changes in the electric power sector. In recent years, Argentina has seen repeated blackouts as the government had set the price of electricity below the cost of generation, which discouraged infrastructure investment and encouraged higher energy consumption. The low electricity rates were also extremely costly to the government – energy subsidies had reached 2.9% of GDP and 12% of all federal spending in 2014. In December, the Macri administration declared a state of emergency for the national electricity system through December 2017. And in January, the government slashed subsidies and introduced new wholesale prices for power nationwide. This could triple electricity bills for many consumers in the Buenos Aires area but also makes the sector more attractive for investment. Lousteau said electricity subsidies would be further cut this year."

The survival of IPSA as a listed company rests solely on a deal being done with Rurelec. For PE to go to the bother of publishing the results leads me to believe that he is more than certain Rurelec will have the funds available to pay the outstanding debt and agree a price on the remaining assets. Interesting to see a 1m sell this morning and no movement on the share price. Someone must be pretty pressed for funds to be selling at such a low price.

interim results released this morning. We need some news from our directors to tell us what is going on: http://www.investegate.co.uk/ipsa-group-plc--ipsa-/rns/interim-results/201603290700133243T/

More positive comments regarding the scale of funds that will be flowing into Argentina from the USA: http://www.buenosairesherald.com/article/211176/us-investment-set-to-triple--says-amcham Speaking less than a day before Air Force One touches down on Argentine soil, leaders from the United States Chamber of Commerce in Argentina (AmCham) predicted yesterday that the historic visit by United States President Barack Obama to the country will deliver a key political message and serve as a catalyst for business sectors in both countries. The trade body stressed yesterday that Obama’s presence in the country will likely help to “sell” business opportunities to companies eyeing Argentina across the world, following government-sponsored pro-market reform, which AmCham believes will in turn boost private investment in the country dramatically. According to AmCham officials, investments from US firms in Argentina over the next few years could rise to as much as US$18 billion a year — similar levels to those seen in Peru or Colombia — and a near three-fold increase from current levels, estimated to be between US$4-7 billion a year.

Obama has arrived in Argentina for a two day visit., bringing with him a large trade delegation. Would be a very good time for Rurelec to make some sort of announcement. https://news.yahoo.com/obama-arrives-argentina-reset-relations-years-tension-043054682.html

MM's paying over the offer at the moment. Very surprised anyone is selling at the moment given the current large discount to the net assets.

The last stated net asset value of 7.7p given within the half year results includes an impairment figure of £3.9m on the loans to EdS. Clearly, this will be reversed once confirmation is received that the loan and interest payments are now being repatriated. With the total value of the loan and interest to EdS amounting to £30.7m, I can see a major correction to the share price once we hear some positive news. I don't think the directors have read their own report: "The Directors consider that the coming months will be challenging but they are determined to repair shareholder value. They look forward to working closely with employees, advisers, shareholders, and other stakeholders for a positive and constructive outcome." I see Obama is visiting Argentina this week after his trip to Cuba. No doubt there will many positive things said about the improving outlook for business and trade.

Old news, but it makes a mockery of the situation we find ourselves in: "Despite the relative dangers of inflation, however, investors to the country's energy sector have welcomed the announcement, with power companies across the nation experiencing a significant surge in their stock prices, reported Reuters." http://www.latinpost.com/articles/112011/20160128/argentina-removes-subsidies-hikes-up-electricity-rates.htm

Just re-read the LSE rules and I see you are not allowed to post an email address. Looks like someone is not happy that the 5% threshold will be surpassed and has reported my earlier post. GFD has my email address and I am sure he would not mind forwarding any communication.

Brightonscot, for some reason, my post this morning with my email address has been removed. I don't understand how that falls foul of the rules, but confirm my holding, along with my wife is 5m shares. Subject to an appropriate agenda, they can be added to your total in the event that we need to demand an EGM if the company is not more forthcoming with the situation regarding the repatriation of funds from Argentina and the apparent deal they are working on with IPSA. To say they are tight for working capital to their shareholders and then give a comfort letter to IPSA saying the outstanding debt will be paid in the next few months sends contradictory messages.

It appears the lower house has approved the deal Marci's government has reached with the 'vulture funds' opening the door for the issue of new bonds. Very positive news for further investment in the country. http://www.wsj.com/articles/not-so-fast-argentina-still-has-some-bond-holdouts-1458148654

Full asking price required to buy currently. Doesn't appear to be many shares available at the current low levels, and I certainly can't see many people selling. I saw a post from a couple of weeks ago about the 4m sell, but looking at the pricing and timing of the trades, it appears to be some sort of swap for the 2m shares. Does anyone have a view on the IPSA statement regarding the potential sale of our turbines alongside their remaining assets. If the turbines were sold for the current asset valuation, it would make a mockery of the current share price!

Hi jeddicat, I am referring to the many previous posts from long term investors who are questioning the validity of the sale of Rurelec assets to directors at seemingly very low prices. The IPSA accounts seem to suggest that their is interest from three parties for the purchase of our turbines in conjunction with the remaining IPSA assets. When you consider how much we paid IPSA for those turbines and how much our current mkt cap is, the current share price is laughable. It is very poor that we have to hear via IPSA what out company is currently in negotiations to sell the turbines or indeed looking to purchase the IPSA assets. There is clearly a game plan, but unfortunately it is not being shared with us. Ultimately, I do feel the administrators for Sterling Trust will achieve fair value for both the Rurelec and IPSA share holding and a correction will be made to the share price. I still expect to see a share price of circa 3.00 to 5.00 pence in the short to medium term. Not good for long term holders, but certainly an opportunity for new holders at the current price.

link to IPSA results: http://www.investegate.co.uk/ipsa-group-plc--ipsa-/rns/audited-results-for-the-year-ended-31-march-2015/201603151510021840S/

Hi guys, just returned from holiday and busy catching up on events. I note that IPSA have just released their results and note some of the comments regarding Rurelec. Well worth reading, but note 3.2 is interesting: Following completion of the sale of the remaining two turbines for a total consideration of US$25 million (£16.1 million) of which £12.9 million was received during the previous year, the Company had expected to receive from Rurelec PLC the outstanding amounts still owed of euros 1.505 million which it has undertaken to pay on the Company's behalf to Ethos Energy Italia S.p.A and a further amount of £185,000. The Company has been provided with a letter of comfort from Rurelec which gives the Board confidence that Rurelec is likely to be able to meet its payment obligations to the Company in the coming months. The Company is engaged in discussions with three parties who have shown interest in purchasing the balance of plant in conjunction with the turbines. Rurelec continues to pursue the project known as Central Illapa S.A in Chile and is awaiting the final consent to connect the Illapa project to the Northern Chilean transmission grid. However, all of the environmental and project approvals granted have been specifically based on the installation of TG50D5/701DS turbines. Due to the long lead time for delivery of essential parts the balance of plant is useful for ensuring that the turbines can be installed within the project timeframe. Rurelec has therefore expressed interest in acquiring the balance of plant and the Directors of IPSA may therefore reasonably expect to receive an offer at no less than the carrying value £4.0m. I also note the posts regarding the possibility of malpractice by certain directors. I currently hold 4.5m shares and will consider joining any action if future events from the company deem this to be a necessary course of action.

Flightman - thanks for the link. That is the news I have been waiting for. Very positive indeed for Rurelec. Just to let you know, I am away from my computer for quite a while starting tomorrow and will not be posting. Still holding my 4.5m shares and not going anywhere soon. Keep up the good work. It appears our deramping friends have left the building. Probably licking their wounds brought about by the cancellation of the Open Offer.

http://www.investegate.co.uk/ipsa-group-plc--ipsa-/rns/sale-of-blazeway-engineering-limited/201601281500023454N/ It will be interesting to see how the Sterling Trust administrators view the news, seeing as they speak for a significant amount of shares in IPSA.