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Amendment to payment terms for its first equipment acquisition
3rd March 2005
Rurelec today announces that it has successfully renegotiated the payment terms in respect of its acquisition of Energia para Sistemas Aislados SA ("ESA"), owner of two 3 MW reciprocating dual fuel engines, announced on 11th October 2004.
Read more: Amendment to payment terms for its first equipment aquisition
Placing of 8,750,000 Ordinary Shares at 40 pence per share. Acquisition of 50% interest in Patagonia Energy Limited. Re-admission to trading on AIM
6th July 2005
Rurelec PLC, the British company established to develop rural electrification projects in Latin America has entered into an agreement to purchase for cash a 50 per cent. interest in Patagonia Energy, a company incorporated in the British Virgin Islands, from Basic.
Result of EGM. Acquisition of 50% interest in Patagonia Energy. GBP3.5m Placing
29th July 2005
The Board of Rurelec PLC, the company established to develop rural electrification projects in Latin America, announces that at the Extraordinary General Meeting of the Company held today, 29 July 2005, the three Ordinary Resolutions and the Special Resolution were approved by shareholders.
Preliminary results for the year to 30 June 2005
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Placing of 46,938,775 Ordinary Shares at 42 pence per share. USD 35 million Acquisition of a majority stake in Empresa ElÈctrica
Guaracachi, S.A. Re-Admission to trading on AIM
Rurelec today announces that its wholly owned subsidiary Birdsong Overseas Limited has agreed the acquisition of Bolivia Integrated from Southern Integrated for a total consideration of up to USD 35 million. Bolivia Integrated indirectly owns a majority stake of 50.00125 per cent. in Empresa ElÈctrica Guaracachi, S.A. ("Guaracachi" or "EGSA") Bolivia's largest power generation company.
22 September 2005
The board of Rurelec announces the appointment of Sir Duncan Robin Carmichael Christopher KBE CMG as a non-executive director of the Company.
Sir Robin, aged 60, who recently retired as the British Ambassador to Argentina has over forty years experience in Latin America and in Argentina and Bolivia in particular.
Sir Robin is a trustee for The Brooke Hospital, Prospect Burma and St. Matthew's Children Fund (Ethiopia), all of which are charitable trusts. He is also a Hon. Fellow of the Institute for the Study of the Americas (ISA) at London University.
There is no further disclosure required pursuant to schedule 2(g) of the AIM Rules.
Commenting on the appointment, Rurelec's Chairman, Jimmy West said "I am delighted to welcome Sir Robin to the Board and believe that his experience in our target markets will assist the Company greatly in its further development".
For further information, please contact:
Peter Earl 020 7793 7676
Rurelec PLC
Paul Shackleton 020 7776 6550
Daniel Stewart & Co. plc
Christian Dennis 020 7588 5171
Hichens Harrison & Co. plc
Daniel Stewart & Co. plc, which is regulated by the Financial Services Authority, is acting as nominated adviser to the Company. It will not be responsible to any person other than the Company for providing the protections afforded to its customers or for advising any other person on the contents of any part this announcement. The responsibilities of Daniel Stewart & Co. plc as the Company's nominated adviser under the AIM Rules are owed solely to the London Stock Exchange and are not owed to the Company or any Director or Shareholder or to any other person, in respect of any decision to acquire Ordinary Shares in reliance on any part of this announcement or otherwise. Daniel Stewart & Co. plc is not making any representation or warranty, express or implied, as to the contents of this announcement.
Interim results for the 6 months ended 31st December 2004
Chairman's Statement
30th March 2005
Rurelec today announces its first results since joining the AIM Market in August 2004.
Since its flotation, Rurelec has moved to acquire power generation assets for installation in isolated areas of Latin America serving rural communities in Bolivia and Argentina. I am pleased to report that Rurelec now owns outright 12 MW of gas fired and dual fuel capacity in the form of two Worthington and three GE Jenbacher 616 gas engines. Rurelec also has the right to acquire a further 5MW of dual fuel machines and has made arrangements to lease a further 4 MW of GE Jenbacher capacity.
Acquisition of power generation equipment out of receivership and onward sale
24th February 2005
Further to its announcement dated 25th January 2005, Rurelec announces that the acquisition of nine Jenbacher 616 gas engines has completed today.
Read more: Acquisition of power generation equipment out of receivership and onward sale
Acquisition of power generation equipme nt out of receivership
On-sale to Independent Power Corporation PLC ("IPC")
25th January 2005
Rurelec announces that yesterday it acquired for a purchase consideration of £1 million in cash nine Jenbacher 616 gas engines with a total nominal capacity of 18 MW (together with associated ABB generators and heat recovery systems) from Trevor O'Sullivan and Simon Bower acting as Receivers to Medina Finance Limited, a company in administrative receivership (the "Vendors").
Read more: Acquisition of power generation equipment out of receivership