News & Publications - Press Releases

23rd April 2009

Rurelec PLC announces that it has been notified by Peter Earl, Managing Director, that on 22 April 2009 he transferred 5,901,360 ordinary shares of 2 pence each ("Ordinary Shares"), representing half of his personal shareholding in the Company, to his wife Emma Earl at a transfer price of 11 pence per share.

Read more: Director/PDMR Shareholding/Holding in Company

20th April 2009

Conditional Placing of Equity, Disposal of interest in EDS, Capitalisation of IPC Loans, Director Share Purchase/PDMR, Notice of General Meeting and trading update

Rurelec plc (AIM: RUR) announces that it proposes to raise approximately £6.5 million before expenses from a conditional placing of 81,562,500 New Ordinary Shares at a price of 8 pence per Ordinary Share. The Ordinary Shares have been conditionally placed by Religare Hichens, Harrison and Daniel Stewart with institutional and other shareholders.

An increase in share capital of the Company is needed to complete the Placing and the other proposals set out in a circular to be sent to shareholders today. The Placing is subject to the satisfaction of certain conditions and to the shareholder approvals which will be sought at a General Meeting. Further details of the GM are set out below.

Read more: Notice of General Meeting and trading update

8th April 2009

Rurelec Plc (AIM: RUR) is pleased to announce that 10 million new ordinary shares of 2p each ("New Ordinary Shares") have been placed with investors at a price of 8 pence per ordinary share, raising net proceeds of £760,000 after expenses (the "Placing").

Read more: Placing, Issue of Equity and Total Voting Rights.

1st April 2009

Since the announcement of 2 March 2009, high demand for power from the local grid resulted in CAMMESA, the regulator, not allowing both gas turbines at the Energia del Sur plant to be off- line simultaneously which has resulted in a short delay in the completion of the project.

Read more: Update on CCGT project at Energia del Sur in Comodoro Rivadavia

2nd March 2009

Guaracachi Debt Rating

Rurelec is pleased to announce that its 50.01 per cent. Bolivian subsidiary, Empresa Guaracachi SA ("Guaracachi"), has recently received an improved AA debt rating (equivalent to AA2 SPVS) from Latin American debt rating agency, Pacific Credit Rating, for its latest local US $24 million public bond issue for its 96 MW CCGT expansion project in Santa Cruz.

Read more: Financing Update: Guaracachi Debt Rating and related party transaction

2nd March 2009

The Directors of Rurelec PLC are pleased to announce that the Company's wholly owned subsidiary in Argentina, Energia del Sur SA ("EdS"), dispatched its first commercial production of power from the new combined cycle unit into the power grid in Patagonia on Thursday 26^th February 2009, having successfully commissioned the new 60 MW combined cycle at the end of January.

Read more: First Commercial Power Dispatched from Argentine Combined Cycle Gas Turbine (CCGT) Project

Rurelec announces that on Tuesday 15th May funds managed by Tudor Capital (U.K.) Limited ("Tudor") agreed to subscribe for a total of 5,000,000 ordinary shares of 2 pence each of the Company ("Ordinary Shares") in placings for cash to occur in two separate subscriptions.

Read more: Placing of Shares

22nd December 2008

Rurelec PLC ("Rurelec" or "the Company"), the owner and developer of power plants in Latin America, announces that its Managing Director, Peter Earl, has today acquired 11,802,721 Ordinary shares in the Company from Independent Power Corporation PLC ("IPC") at a price of 28 pence per share. This shareholding represents 13.77 per cent. of the issued share capital of Rurelec.

Read more: Director/PDMR Shareholding