Member Info for Walkley

"Mouchel Group plc is pleased to announce that it has appointed Goldman Sachs International as its financial advisor and corporate broker with immediate effect." Sounds expensive, I hope they are worth it!!

At last a post that is really helpful with actual information. Fed up with reading, not just on this board, that this or that share will soar tomorrow. Shares are the price they are because as much cash thinks the price is too high as thinks it is too low. Re a possible rights issue, contracting companies tend to need significant resources (cash or facilities - but cash is better). They may even need to earmark funds to give the granter of the contract confidence that they can meet the up front costs of the contact which often begin with a negative cashflow for the contracting company. Mouchel would be better placed to gain new contracts with a stronger balance sheet. My guess, with no information, would be a fully underwritten £50m rights issue. Lots of fees, most of their money back and bonuses all round for the banks who have supported Mouchel over the past few months!!! The higher the share price by the end of March the lower will be the dilution of existing shareholders. The lower the share price the higher percentage of a profitable (albeit underlying profit) company with a £500m+ turnover (current market Cap £15m) will go to the institutions prepared to back a rights issue.

At the AGM, Chairman Martin Brooks will make the following statement: "We have made a strong start to the year with trading in the first quarter exceeding management expectations. A particular feature has been the positive organic revenue growth in both the public sector and engineering information management division, in addition to the acquisition-driven uplift in trading. "The integration of McLaren with recently acquired CTSpace is progressing rapidly under a single divisional management team and we are already becoming recognised as a global domain expert in enterprise engineering information management. "As the Group expands, we are launching a graduate recruitment initiative for the first time, to secure the services of high-calibre staff to meet our need for an expanding UK workforce. "It is still too early to provide full-year guidance, particularly as the Board is mindful of the continuing uncertain global economic outlook, but it is nonetheless an extremely encouraging start to the trading year."

Lonrho is a share holder in Rubicon and has 2 directors on the board. Sounds as if we are likely to become a bigger shareholder!

Rubicon discussing buying Fly 540 from Lonrho. Could only be a good thing though suppose depends on how much Lonrho would be prepared to pay to get rid of it! Fly 540 lost £7.9m (excluding head office costs) on £14.5m revenue in 6 months to 30 Sept!

Is something happening - 30p at last

At last some positive movement to go with the announcements.

Check the date please - think that news is from a year ago when we were on a different planet!

dv8123 - the banks who supported Mouchel were paid in new shares. They must expect to be able to sell them in due course -hopefully at a considerably higher price.

Over £400k traded today all but 1 trade buys at or over 28.7p

Chairman spends £50k buying shares at 28.15p! What more does the market need? Though we have had a good run the latest acquisitions should have lifted the price to 40p at least.

Detailed article at OilBarrel: http://tinyurl.com/8yev4wz "We at Oilbarrel.com have been wondering why we have heard so little recently from AIM-listed Alkane Energy, the profitable alternative Energy company. Well, now we know, the management have been working day and night trying to finalise the conditional acquisition of the entire share capital of Greenpark Energy for a total consideration of £5.725 million. If and when completed (and it is not a very big “if”) the acquisition will mean an important piece of horizontal integration with some interesting wrinkles; and, as Alkane CEO Neil O’Brien put it, the deal will mean a “ significant step change in the scale of Alkane” . Greenpark Energy is, after Alkane, one of the largest independent UK Operators of coal mine methane (CMM) and is a wholly-owned subsidiary of GEL/GPEL..... ..But even without subsidy the company is proceeding in a profitable manner as the trading update released with the Greenpark acquisition announcement, shows. Although in the past Alkane as been bedevilled by the volatility in gas prices, the company has produced its sixth straight year of profits. It has ironed out the prices swings through rolling out more plants regularly and producing increased electricity output each year. Guidance for 2011 is that revenue will turn out to be £9.5 million (£2010: £6.6 million). This was achieved on output likely to be revealed as 140GWh against 120GWh in 2010 and average electricity prices which should come out at £51/MWh against an average of £44/MWh in 2010. For 2012 Alkane took the decision to forward place electricity prices for much of the year’s output from the group’s existing sites. Accordingly around 60 per cent of the group’s expected 2012 output, is contracted at an average price of £56/MWh. But this excludes new capacity from Greenpark. The gas price has now weakened with 12 month forward electricity contracts being quoted around £48/MWh. House broker VSA Capital says in 2012 it anticipates a reduced operating margin per site. Even so its predicts an increase in total turnover to £15.5 million and a pre-tax profit of £2.8 million (£2.0 mllion estimated for 2011) and earnings per share of 2.8p a share (2011 estimate2p a share). One of the interesting wrinkles in the takeover is that it will deliver immediate operational assets and cash flow, avoiding the development lag of between 9-18 months between Alkane identifying, developing and funding the construction of new sites prior to them generating revenue which is inherent in the group’s organically developed sites. Alkane has beaten off the bogey of price volatility for another year. Yes, the takeover really is a step change for the company. The current share price rose to 20p following the news. VSA has a target share price of 38p a share."

I am convinced that this company is badly undervalued. Price is only where it was a year ago. Turnover this year is going to be 50% up and profits will be up, though must have been spending money on development. The only fly in the ointment is the wholesale electricity price currently about £40/MWh , but they have fixed 60% of next year (excluding latest acquisition) at £56/MWh. This may be worrying some but the variable cost of production is only about £7.50/MWh, so even if £40 holds we will still be quids in. Best news is minimal dilution (subject to seeing the terms of the convertible loan) - though had the share price been 40p or so it might have been tempting not to borrow so much. Still think a dividend would be well received and allow further acquisitions.

Still able to buy at 19.1p (just bought further 12,500) What more does the market want? Revenue up 44% an earnings enhancing acquisition that adds further 33% to capacity. Price target by analyst 36p .

Very positive , except for last line. Revenue in 2011 up 44% (average price received for electricity +16% on last year) and 56% of next years electricity fixed at 10% higher than this year (presumably excludes new capacity from acquisition) "revenue of c.£9.5 million (2010: £6.6m); o full year electricity output of circa 140GWh (2010: 120GWh); and o average electricity sales price for 2011 is expected to be approximately £51/MWh (2010: £44/MWh). · 60% of 2012 output, excluding capacity from the Acquisition, now contracted at an average price of £56/MWh · Current price weakness in power market

"This acquisition is a significant step change in the scale of Alkane and adds significantly to our operating capacity and project pipeline. In addition, the acquisition will allow us to triple our capacity in power response for the National Grid." Acquisition of Greenpark for total consideration of up to £5.725 million Greenpark management estimates of unaudited revenue and EBITDA related to the CMM and power response business being acquired of c. £3.4 million and c. £1.9 million, respectively, for the year ended 31 December 2011. 9 sites in total close to Alkane's operating geographical area with a total of 45MW of existing grid connection capacity and further additional grid potential; o 16 modular reciprocating engines and associated plant and equipment with an estimated book value of approximately £9 million;

Positive RNS, but not sure what any of it means financially. Shares ticked up nicely though after a 40% rise in the last year.

Lats year we had a notice of results and trading update on 11 Jan. Has been very quiet this year. Lets hope no news is good news and they are working out just how big a dividend to announce!!

Henderson are probably buying because they think the shares are worth more, Schroders are selling because they think the opposite. It called the market!

That was on Mouchel website but really would have expected something more from the AGM.