Member Info for troutisout

Just added at 3.37p, they obviously have a seller in the wings, but happy to get a few more while it is down here. Reading the 42 pages about Ebioss and their plans the UK is a very important part of them with Chinese backing for finance and their own bond scheme going to raise €16m with plenty more agreed by shareholders if needed (read what they say about funds being made available by the ECB). So as their UK market is our projects it does look positive even if the SP doesn't show it.

You can currently buy 750k (1% of the issued share capital of the Company) for £25.6K at 3.39p a share. To say this is unloved is such an understatement, it resembles a true basket case, yet for some reason I remain positive about it. Further to my post above I don't rate the Management here one bit, hence the desire to see the Company sold. However there are always signs that my research and thoughts might not be that far away from what is happening. This is a paid for research note dated the 10th September 2016. My guess is Ebioss are looking to raise more capital via bond raises and this has been published to help that. Also if you read it, it is very positive about Ebioss and it's future, but for REAC holders/investors read all about the UK becoming a strategic market for them, look to at the comments about the MAB index and the desire and shareholder vote that was passed to list either on Paris alternative market or on AIM. Joining the dots and then seeing this written (with the help of Ebioss) can only strengthen the dream. We'll have to wait and see...... htTp://corporate.alphavalue.com/Secure/Handlers/LongPdfHandler/2b60074d-1227-e511-80de-c81f66d04abb/Ebioss_Energy.pdf

EBIOSS SIGNIFICANT ENERGY, AD July 15, 2016 In accordance with the provisions of Circular 7/2016 of the Alternative Market Bursátil through this is available to the market the following EBIOSS information on Energy, AD: In today they have been admitted to trading on the Euro MTF of the Luxembourg Stock Exchange 35 senior corporate bonds of € 100,000 (one hundred thousand euros) nominal each one for a total amount of € 3,500,000 (three million five hundred thousand euros), signed in entirely through a private placement produced under resolution the Extraordinary General Meeting of Shareholders held on 13 February (such as reported in relevant fact dated 16 February), in which it authorized the issuing up to 60 million BGN (Bulgarian Levs sixty million), ie up € 30,677,512 million in debt, delegating to the Board of Administration execution. The securities bear an annual coupon interest rate of 7% from 15 July 2016 and maturing on April 20, 2021 at 100% of its nominal value. In this issue of senior corporate bonds listed on the Luxembourg Stock Exchange have Societe Generale Securities Services participated as Bank Luxembourg Agent Payments Intermoney as Lead Manager and Chevalier & Sciales as Counsel. We remain at your disposal for any clarifications deemed appropriate.

Just backed up my 'buy' rating with 100k shares, got below mid which was nice. The EU Referendum has made lots of stocks jittery, but this is an Irish company and so will always be in the EU (just listed on AIM). The more I have looked into this, the signs coming from Ebioss are that they and China Energy are either going to make a large capital investment in REAC's projects or a complete takeover ( I actually would prefer that as an exit). Either way only a handful of people follow these REAC threads and I hope they do their own research and make their own decisions, at the present time, I am happy to buy, but this has been a difficult share to own and that is why I would prefer to see a buyout and complete exit for all shareholders. Of course the price would have to be far higher than at present to get them all to accept an offer. Trout.

Ebioss held it's AGM last week and released the results this morning, http://ebioss.com/images/13_Acuerdos_Junta_General_Ordinaria_accionistas.pdf Anyway they have approved to allot 70m shares towards a fundraising and also added a 13th resolution to the proceedings, So here that is, as you can see it was added on after the China Energy deal, the 'tenth collection agreement' refers to the authority to allot up to 70m shares that was passed at the same AGM. Last year they were looking to issue a bond at 1.8BGN, the current share price is €1.26 or nearly 2.5BGN, so a raising of 70m shares would raise many tens of millions EUROs. It is clear that they intend on using that to invest in 'their' international projects and we know they want to invest "more immediately in the UK market" "Thirteen.- Other. After signing the big contract of strategic partnership signed last May 26 with China Energy, the Board of General Shareholders approves request, at the request of the Chairman of the Board, the Board of Directors of the Company formulate a strategic approach including the necessary actions that allow co-investment in various international projects within the framework of the capital increase in the previous tenth collection agreement. This strategic approach is formulated in the coming weeks by the Board of Directors, which will be communicated to the market by a significant event, and is linked to information exchanges being made both companies regarding the projects they want to implement jointly."

So if the deal with China Energy states that they will, "3. In this contract, the parties have assigned the following responsibilities: to. China Energy is responsible for building projects turnkey EPC contract. b. China Energy is responsible for assisting the minimum funding of 75% of total investment by Chinese banks and / or international banks. c. China Energy commits to contribute at least 50% of the equity required for each project; EBIOSS and / or other investors, the rest to complete the total equity.............." and the Ebioss funding release says this, "The agreement is adopted to allow entry to certain strategic investors in the shareholding of the Company in a deal which will run the portfolio of international projects that the company currently holds." It would seem Ebioss and strategic investors and China Energy will be more than able to fund these projects on their own......

Now the recent release about the deal with China Energy states that it will allow Ebioss some space to not dilute their shareholders as much, with any fundraising, but between them they would have quite a war chest. In two days time Ebioss will be holding their AGM and one of the resolutions is to allot shares to the nominal value of 70m BGNs (that is twice what they mention in the above release). http://www.ebioss.com/images/00025_HRelev_20160516.pdf I am still of the view that Ebioss with their partner intend on taking a large stake in our Biomass projects and that one way to do that could be make an offer for the whole company. It makes sense all round allowing REAC holders and directors an exit (including all those that took equity for debt last year. DYOR!!!

In November they issued this statement and as you can see the sums planned were even higher 34m shares at €1.8 each, Google translation. "EBIOSS SIGNIFICANT ENERGY, AD November 11, 2015 In accordance with the provisions of Circular 9/2010 of the Alternative Investment Market, through this, we offer the market the following information on EBIOSS Energy, AD: In this day has been published in the Register of Bulgaria the minutes of the Board of Directors of the Company, held last November 5, 2015, and the report of the Council on the reasons for the exclusion of subscription rights preferably in the upcoming capital increase it plans to make the Company. The Extraordinary General Meeting of Shareholders of EBIOSS held on 10 April 2014 unanimously agreed (i) to delegate to the Board of Directors of the Company the power to approve an increase in share capital within two years from the celebration of the Board, for a maximum amount of 40 million BGN (20,451,675 euros), as well as the power to define the conditions of enlargement, and (ii) the exclusion of preferential subscription rights. Under the above, the Board of Directors held on November 5, 2015 has adopted the agreement for an increase in capital through the creation and circulation of up to 34,336,047 common shares with a nominal value of 1 BGN, determining a minimum issue price of BGN 3.52 (1.80 euros) and excluding preferential subscription rights. The agreement is adopted to allow entry to certain strategic investors in the shareholding of the Company in a deal which will run the portfolio of international projects that the company currently holds. It is premature to assess the impact that these negotiations and if its successful completion will have on the figures end of this year and next, which will inform the market as it has greater visibility. To carry out this expansion is preparing a document for Enlargement, which will be processed in the near future for approval and made available on the website of the Alternative Investment Market and the Company itself. We remain at your disposal for any clarifications deemed appropriate. Sincerely In Sofia (Bulgaria), November 11, 2015"

I have given up on any outside activities today so have been looking at the Ebioss side of things. I have been an avid follower of them as they are far more transparent than REAC on any developments and their participation in our Biomass projects has been posted by them before anyone from REAC told us. last year's examinership gave us more insight and recently the Ebioss deal with China Energy has brought it to the fore (as well as recent Clay Cross planning permission and Newry deadline). So I first found out about Ebioss (EQtec) when reading through a planning application for Clay Cross, REAC had previously used a different technology for Newry that didn't work and then applied for a change to another tech provider for Enfield. So when the EQtec gasifier was mentioned in the Clay Cross I did some digging and came up with Ebioss. Ebioss are based in Bulgaria and listed on Madrid exchange in Spain. Last September they published an up to date business plan for 2015-2017 and it was in this they mentioned UK projects and the 2 they described seemed to be Newry and a 12MW plant (could have been Enfield at the time, but now we have Clay Cross as well). They mentioned investing in the projects as well as providing the technology. The examinership papers showed that Ebioss were going to invest €6m into the Enfield project. Ebioss passed a motion to raise €16m in debt (bond) for their planned expansion in their business plan. this had been delayed by a change in Bulgarian project plans and the new business plan was put forward. Please read the business plan below, http://www.ebioss.com/images/20_HR_ampliacion_informacion_Business_Plan_2015.pdf

That's me for now back to the weekend....

https://seenews.com/news/bulgaria-based-ebioss-energy-energy-china-group-to-jointly-develop-gasification-projects-527009 Bulgaria-based Ebioss Energy, Energy China Group to jointly develop gasification projects Author: Ebioss Licence: All rights reserved. SOFIA (Bulgaria), May 31 (SeeNews) - Ebioss Energy, a Spanish engineering and waste treatment company based in Bulgaria, said it has signed an alliance with state giant China Energy Engineering Corporation (Energy China Group) on the joint implementation of gasification projects in UK, China and and other key markets. "This agreement is based on the execution of international projects of power plants that transform waste into synthesis gas in order to obtain minimum 15% return of the total invested equity," EBIOSS Energy said in a statement on Monday, adding that its exclusive technology EGT EQTEC Gasifier Technology will be employed in the gasification projects. Ebioss has made available to Energy China Group for joint analysis part of its project pipeline worth a total 258 million euros ($287.5 million), it added. For its part, Energy China is responsible for developing the projects on the basis of an Engineering, Procurement and Construction (EPC) contract and for helping raise at least 75% of the project financing through Chinese and international banks. "Additionally, the Chinese holding is committed to provide at least 50% of the total equity needed for each project; therefore EBIOSS and/or other investors will pay in the rest of the total equity amount," the statement added. The two companies have formed joint work groups that will analyze the projects which will be carried out after a mutual agreement from both parties by formalizing for each project a contract regarding construction and investment. EBIOSS Energy's core business is the engineering, design and construction of thermoelectric power plants based on waste gasification. EBIOSS Energy has worked for customers such as Electricite de France, GDF Suez (ENGIE), Repsol, Endesa, Tecnicas Reunidas, Gas Natural, Siemens and General Electric. China's state energy holding company Energy China Group was established in September of 2011. It is one of the biggest solution providers for the energy industry in China, where it generates over 85% of its earnings. In 2015 its earnings amounted to 205.6 billion yuans. It employs 140,000.

Another translation from google http://noticias.lainformacion.com/economia-negocios-y-finanzas/informacion-para-empresas/financiacion-ofertas-de-acciones/Ebioss-Energy-China-conjuntamente-gasificacion_0_921507956.html UK, China, Financing, offerings, Banking Services. The Spanish Ebioss Energy has signed an alliance with the state holding Energy China to implement its technology in gasification projects that both companies jointly build both the UK and in Asia, especially in China, as reported by the company Monday. The agreement is implementation of international projects waste gasification plants that have a return on 'equity' of 15% annually. Ebioss explained that he has made available a part of China Energy 'pipeline' of projects for joint analysis by an approximate value of 258 million euros, of which a significant portion are in the UK. China Energy will be responsible for building turnkey projects and assist for the minimum funding of 75% of total investment by Chinese banks and / or international banks. It will deliver at least 50% of 'equity' required for each project, while Ebioss and other investors will contribute the rest to complete the 'equity' Total. The Chinese energy giant sub-contracted exclusively to the subsidiary Ebioss, EQTEC Iberia, to implement its gasification technology for all projects submitted by the Spanish. Thus, Ebioss, through this subsidiary, will be responsible for providing technology gasification and especially all the detailed engineering and construction of such plants technical design. The parties have structured joint teams to conduct an analysis of each project and run each of them only in case both business groups are in mutual agreement, formalizing for each project a construction contract work and individual investment. All these projects are subject to analysis and 'due diligence' for joint work teams. Ebioss stressed that, with this operation, reinforcing its gasification technology in the market for energy recovery and more immediately in the UK market. Also, the signing of this contract will allow the Spanish company to reduce its future capital needs to run its 'pipeline' international, thanks to the financial strength and easy access to financing its Chinese partner.

So what does that mean? - Well Company documents during the examinership showed that Ebioss were in line to invest 6m into the Enfield project, they are currently lending REAC £750k in short term loans. - Ebioss have also stated they would like to seek an AIM listing in the future (currently on MAB in Spain). - Last year Creditors accepted shares at 11p to cover their £5.7m debts - Those shares are out of lock-in later this Summer - Total shares in issue are 75m (including the above shares issued to creditors) - At 11p that would value the Company at £8.25m - Add all the above together and what you can read about the link up with China Energy and one long suffering shareholder could be forgiven for seeing a perfect business opportunity for Ebioss now. - Whatever happens the UK projects are the REAC ones of Newry, Clay Cross and to some extent the possibility of Enfield, these are described in the RNS twice (point 2 and point 7) and the second reference states 'more immediately in the UK market'. - So possible takeover or a large part of the project finance sorted, - I can't help feeling that Ebioss would be better off cleaning up the mess and acquiring REAC, gives creditors a chance to get their money back, gives REAC directors an exit, FBD still carry 50% of Newry and Ebioss get a project portfolio and an AIM listing and there are still the smaller heat generation projects and wind turbine projects that could probably get £5m between them.... DYOR!!!

The signing of this contract is the result of many months of negotiations with several leading construction groups in the energy sector, interested in implementing our waste gasification technology in international projects. EBIOSS management team, has signed this contract considering the socio Energy China as the ideal place to undertake our future strategic growth plan candidate for the following reasons: - Technical capacity of implementing international energy plants - Knowledge and interest in technology and gasification waste sector - Strong international presence, especially in the Asian market and China, strategic for EBIOSS.. - Financial capacity, both project financing and own resources that reduce and / or avoid investments in equity projects by EBIOSS and minimize future dilution of its shareholders in a macro capital already announced on 11 of November - Mutual respect and a high degree of interest between the two groups Also, the signing of this contract allows EBIOSS reduce future capital needs to run its international pipeline, with financial and easy access to finance your new partner Energy China strength. Consequently, EBIOSS is revising downward the new needs of capital to reduce future dilution of its shareholders in an upcoming capital increase, affecting the latter to its relevant fact published last November 11: "... In this day has been published in the Register of Bulgaria the minutes of the Board of Directors of the Company held on November 5, 2015, and the report of the Council on the reasons for the exclusion of the right emption in the next capital increase plans to make the Company. The Extraordinary General Meeting of Shareholders of EBIOSS held on 10 April 2014 unanimously agreed (i) to delegate to the Board of Directors of the Company the power to approve an increase in share capital within two years from the celebration of the Board, for a maximum amount of 40 million BGN (20,451,675 euros), as well as the power to define the conditions of enlargement, and (ii) the exclusion of preferential subscription rights. Under the above, the Board of Directors held on November 5, 2015 has adopted the agreement for an increase in capital through the creation and circulation of up to 34,336,047 common shares with a nominal value of 1 BGN, determining a minimum issue price of BGN 3.52 (1.80 euros) and excluding preferential subscription rights. The agreement is adopted to allow entry to certain strategic investors in the shareholding of the Company in a deal which will run the portfolio of international projects that the company currently holds ... " The Board of Directors will review in the coming weeks the impact of this agreement on its business prospects, new capital requirements and financial instruments used for obtaining such resources and will inform the market as make the decision to respect. Contract signing ceremony at the headquarters of Energy China, Beijing. About Energy

One thing I rarely do is post at weekends but last night rushed by and I didn't get time to post all I had found. Hopefully people will be looking at the EBIOSS RNS, (blame google for the translation) FRAMEWORK CONTRACT SIGNING OF COLLABORATION WITH ENERGY CHINA STRATEGIC On May 26, 2016, EBIOSS Energy has signed a strategic partnership agreement with China Energy Engineering Corporation Limited International Company (China Energy Group). This agreement is based on: 1. Coordination between the two business groups for international projects waste gasification plants that have a return on equity of at least 15% annually. 2. EBIOSS has made available a part of China Energy pipeline of projects for joint analysis by an approximate value of 258 million euros, of which a significant portion are in the UK. 3. In this contract, the parties have assigned the following responsibilities: to. China Energy is responsible for building projects turnkey EPC contract. b. China Energy is responsible for assisting the minimum funding of 75% of total investment by Chinese banks and / or international banks. c. China Energy commits to contribute at least 50% of the equity required for each project; EBIOSS and / or other investors, the rest to complete the total equity.............. d. China Energy sub-contracted exclusively to the subsidiary Ebioss, EQTEC Iberia, its engineering to implement its gasification technology, EQTEC Gasifier Technology, for all projects submitted by Ebioss. and. EBIOSS, through its subsidiary EQTEC Iberia, is responsible for providing its proven gasification technology and, especially, all detailed engineering and construction of such plants technical design. F. To increase the competitiveness of gasification technology both parties agree to, if technically possible to manufacture between 60-70% of teams in China. Therefore it could increase the profitability of each project. 4. The parties agree that this contract does not give any ownership or exclusive right EBIOSS gasification technology, EGT EQTEC Gasifier Technology, or on their intellectual property. 5. The parties have structured joint teams to conduct an analysis of each project and run each of them only in case both business groups are in mutual agreement, formalizing for each project a construction contract work and individual investment. 6. EBIOSS brings projects to build gasification plants mainly in the European area and brings China Energy projects in the Asia and especially in China. All these projects are subject to analysis and due diligence by designated teams work together. 7. The contract has a duration of two years, renewable for equal periods prior mutual agreement of the parties. With this operation, strengthen its technology gets EBIOSS Gasifier Technology EQTEC market energy recovery and more immediately in the UK market. The signing of this contract is the result of many months of negotiations with several leading cons

Hi Cliveas, I have watched the moves this week and tonight have looked into it further, this is my post from another site, This is an extract from my post 269 back in April, "The planning being granted would be a huge bonus in it's own right, but it would also give their partner Ebioss another gaisification plant order and increase the critical mass for investment. Ebioss are lending REAC some money at the moment to push forward their Biomass portfolio, but previously were going to invest €6m in the Enfield Biomass project and they have made no secret that they would like to enter the UK market and also have a listing on the UK's AIM market (they are currently listed in Madrid). I could see a takeover from Ebioss who would be able to use all of the tax losses and gain an AIM listing to boot." Having ignored this for a while, I decided to look up something after seeing the recent buys, so for anything REAC, people will know I go to Ebioss, they tell us far more than REAC ever do. So on their site I see an RNS from 30th May 2016 and the google translation of that RNS is very exciting. As with anything translated by Google there is some weird comments, but the gist of it is quite encouraging. You have to remember that the projects Ebioss are involved within the UK are REAC's ones. Read the RNS (maybe translate it unless you are fluent in Spanish) and see what you think...... htTp://ebioss.com/images/Firma_Contrato_Marco_Colaboracion_Estrategica_Energy_China.pdf

and uneducated...... Were you late to the party? Bought at the peak on Tuesday?

No problem always happy to educate the unwashed.....

If you really want to keep it real, then you will do some research, the funding will take months to organise (Enfield took years and still hasn't reached financial close). The Clay Cross project will cost £50m to build out and so will not be on a loan, the Company get the permits and everything sorted then look to raise funding through a consortium of finance partners. At this point they will attempt to cover any costs up to this point and will go forward looking for a free carry on a portion of the equity of the project. Newry is the first they will concentrate on as it is a third of the size and they have permissions and offtakes all in place, but the funding (£8m) on that has still not been finalised and has taken many months. They will now need to fulfil all of the conditions for Clay Cross, including remediation works to the site, finding the mine shaft and making good if it affects the footprint of the building and potential decontamination of the building area of the site. So keep it real and realise this is a medium/long term investment and not one where things like Clay Cross suddenly all happen in a short period of time. Planning has taken over 2 years and permitting/offtake agreements will take time to, arranging the finance on this scale will also take a long time. DYOR, Trout.

React Energy is partnering Falcon Waste in the Clay Cross project, Falcon Waste is a subsidiary of Larkfleet Group, which on top of other things runs some of the largest solar farms in the country. The business plan with these big projects is to get the permissions all granted and offtakes signed, then go to financiers to fund the build out for a % of the project equity, REAC take out all their development costs up to financial close and are left with a free carry on the project going forwards. This project will take £50m to build out, it is not the case the company has a placing to fund it..... There are looking at completing financing and reaching financial close at Newry sometime before end of June and that is approx. £8m. With planning granted (if it is granted) then I can see them looking to attract finance by using the scale of both projects. DYOR,