SOLCO Ltd ("SOO") sustainable energy co

[Damo79]

Hmm.. by the looks of the depth chart, I think this morning could hurt

[tommy]

Is this what we have been waiting for? Down 18% today, I stop-lossed at a small profit...

_______


ASX RELEASE SOLCO LIMITED 01 March 2006

Solco commission new Manufacturing facility in Malta


Solco Ltd (ASX: SOO) has now completed commissioning of their latest Solco Manufacturing System (�gSMS�f) in Malta for its licensee MB Solco Ltd. The new manufacturing facility will produce a range of sustainable water and energy products including Solco�fs patented polymer
based solar hot water system (Solco GeniusTM ) for Malta and other selected Mediterranean markets.

The Maltese Government has demonstrated its strong commitment to renewable energy with a comprehensive rebate programme that includes significant rebates for solar hot water units. In addition, the Maltese Energy Company, Enemalta, has recently announced another surcharge
on local electricity charges.

MB Solco has also secured the sole rights to sell to southern Italy and Egypt and plans to distribute the full range of Solco products in due course.

MB Solco is a strategic partnership between Motherwell Bridge Mediterranean Ltd, of Malta, and Kaylor Rotomoulders Ltd, of Mauritius and Solco Ltd.

Motherwell Bridge also has operations extending to steel fabrication and crane maintenance, and is part of one of the largest groups in Malta that has interests in shipping, fast food and IT.

Kaylor has an excellent track record in rotomoulding in Mauritius over the past 15 years and is also a Solco SMS licensee.

Solco Managing Director, Mr. Duncan Stone said Solco has retained 20% interest in MB Solco Ltd because the Company is confident that it will generate significant returns under the strong local management team.


The Malta facility was completed within budget and ahead of schedule.
It is the second SMS facility in Europe to become operational in the
past 18 months following the commissioning of a facility for its licensee in Portugal.

Through its licensees, Solco is focused on developing and providing sustainable, decentralised power and water solutions tailored to the specific needs of households and communities in each region.

- ENDS -
For further information, contact Duncan Stone on (08) 9334 8100 or 0402 987 000.

[transmuter]

Ive held these for three years and have recently increased my holding fourfold as ive watched the company go from a nice idea to positive cashflow. The good news being referred has still yet to be announced. This extract is from corporatefile.com.au open briefing dated 14/12/06 and is referred to by Duncan Stone in a recent ASX share price query.
Once the European Instituions get a real hold of this we could be in for a few more rises...then again it can always drop!!! I'M HOLDING




START

Open Briefing®. Solco MD on Capital Management Plans

Solco Ltd MD, Duncan Stone has been interviewed by Corporatefile.com.au on the companies
capital management plans. This is a record of the interview.

EXTRACT FROM FULL REPORT

We’re also working with a leading Australian financial
institution on a highly innovative, low cost customer finance package which will help us sell a
whole range of integrated water and power saving systems to households. These include grid
feed solar power, both the steel and the polymer based solar hot water systems, and water tanks
incorporating the Davey Rainbank system that allows households to use rain water in toilets and
washing machines. The details of the finance package will be available in January.

END

[Damo79]

This is from an announcement made by SOO on the 19th of September last year:

Option Payment received from Western Africa
Mr Stone also announced that this week Solco had received a $30,000 USD option payment to
secure the Solco Manufacturing System rights for a number of countries in Western Africa
including Ghana. The businessman behind the deal is US based and has an excellent business
background with IBM and other major American businesses. The option must be exercised by
23 March 2006 and the fee is $900,000 USD.

Getting reasonably close to that date. It would be nice to see this option taken up. It's unlikely someone is going to throw away $30k USD for nothing. Maybe this could be 'the good news' ??

[steve fleming]

quote:Originally posted by Damo79

This is from an announcement made by SOO on the 19th of September last year:

Option Payment received from Western Africa
Mr Stone also announced that this week Solco had received a $30,000 USD option payment to
secure the Solco Manufacturing System rights for a number of countries in Western Africa
including Ghana. The businessman behind the deal is US based and has an excellent business
background with IBM and other major American businesses. The option must be exercised by
23 March 2006 and the fee is $900,000 USD.

Getting reasonably close to that date. It would be nice to see this option taken up. It's unlikely someone is going to throw away $30k USD for nothing. Maybe this could be 'the good news' ??

Thursday is D-day...although I would have thought that SOO would know one way or the other by now...anyway if this option is not taken up SOO will then be able to negotiate with other parties...

Up almost 10% on very big volume in Frankfurt o/night...so that is promissing for Monday

[transmuter]

anyone interested in 0.8% off their home loan rate for using solco products that save you running costs (power and water). This is the "good news" that duncan stone was referring to.

http://imagesignal.comsec.com.au/asx...f/00599433.pdf

[Damo79]

quote:Originally posted by steve fleming

quote:Originally posted by Damo79

This is from an announcement made by SOO on the 19th of September last year:

Option Payment received from Western Africa
Mr Stone also announced that this week Solco had received a $30,000 USD option payment to
secure the Solco Manufacturing System rights for a number of countries in Western Africa
including Ghana. The businessman behind the deal is US based and has an excellent business
background with IBM and other major American businesses. The option must be exercised by
23 March 2006 and the fee is $900,000 USD.

Getting reasonably close to that date. It would be nice to see this option taken up. It's unlikely someone is going to throw away $30k USD for nothing. Maybe this could be 'the good news' ??

Thursday is D-day...although I would have thought that SOO would know one way or the other by now...anyway if this option is not taken up SOO will then be able to negotiate with other parties...

Up almost 10% on very big volume in Frankfurt o/night...so that is promissing for Monday

Well no announcement. So unfortunately looks like the option wasn't taken up. Oh well...

[Lizard]

Wow, this company has been interesting to watch!

Now we have the CEO leaving - due to conflicts with the board over the direction of the business - and the Financial Controller leaving due to "family commitments"...

[StockExplorer]

Summary Announcement. Solco. Senior Management Appointments & Company Re-structure
Date of Report: 18-Apr-2006

Solco Ltd (ASX: SOO) announces the appointment of Mr. Dermot Patterson as Chief Executive Officer of the Company to replace Mr. Duncan Stone who resigned on 3rd April 2006. Mr. Patterson has an impressive track record of strong international business management performance over more than 25 years. His extensive experience in international market development means Mr. Patterson is well equipped to lead the Corporate Development activities needed to drive the expansion of the Solco business in accordance with its strategic plan. Most importantly, he has deep practical knowledge all aspects of disciplined operations and asset management including the effective integration of alliances, dealer networks and acquisitions to maximize the synergies of such business relationships. Prior to joining Solco, he was CEO of the public listed Medec Limited and spent 20 years with Huntleigh Technology Limited, a large UK based international healthcare firm. In the last 10 years of that association, Mr. Patterson had responsibility for all operational and administrative functions for Huntleigh Australasia (including China and Japan), Canada and Latin America. Mr. Patterson has been working as an external consultant with the Solco Board and Management over the past 4 weeks undertaking a detailed business review as part of its strategic planning process.

The Board also announced a significant re-structure of its business to more effectively deliver its vision of becoming a world leader in the delivery of decentralized, sustainable water and power solutions.
The Company is to be organized into separate water and power divisions that both have a strong market focus and proper delegated authority to operate and control all aspects of their business based on a clear approved strategic plan and matching budget.
The Company has appointed Mr. Michael Starling to be the General Manager of the Water Division which will have responsibility for water products, technology and international business. Mr. Starling is a Chartered engineer with more than 14 years experience in water related projects in various UK Water Authorities and consultancies, most recently as water treatment team leader with global engineering firm, Sinclair, Knight, Mertz Consulting. Mr. Starling has completed an MBA and has been head of Solco’s international technology licensing activities and R&D since December 2005. Mr. John Cooper who has been Acting CEO of Solco will become the General Manager of the Power Division which will be managed through wholly owned Solco subsidiary Choice Electric Co. Mr. Cooper has over 20 year’s experience in the sustainable power industry, is highly knowledgeable on emerging new technologies and is well connected with international developers and suppliers of such products that can be effectively introduced through Choice Electric Co.’s wholesale network. The appointment of Mr. Patterson allows Mr. Cooper to focus on developing and expanding the Choice Electric Co.’s power business. Messrs Patterson, Cooper and Starling will, along with the Solco CFO, form the Executive Management Committee for Solco which will have responsibility for the development of strategic plans in conjunction with the Solco Board and lead responsibility for the execution of such plans and the management of all operational management activities.

[StockExplorer]

Summary Announcement. Solco. Third Quarter FY06 Cash Flow Report
Date of Report: 28-Apr-2006

Solco generated a negative operating cash flow for the 3 months of $606,000. As expected cash receipts for the quarter were lower than the previous quarter as a result of the Christmas closedown. In addition the final payment from the commissioning of our Maltese licensee was delayed but has been received during the first half of April.

Revenue receipts for the quarter were $3,15m taking the total receipts from customers today to $13.23m.

The company increased its inventory levels of solar modules by approximately $500,000 over this period in a strategic move to capitalise on opportunities in a market where supply is scarce.

The Company raised $691,000 after costs during the quarter from the proceeds of a share purchase plan and the exercise of options under executive employment arrangements.

The share purchase plan that was conducted during February raised $442,000 in cash before costs, which encouraged the Solco board given it occurred during a difficult period when the share price actually dropped below the issue price. The exercise of options also provided $280,000 in cash before costs.

Cash at Bank at the end of the quarter was $1.2m, down from $1.25m at 1st January 2006.

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probably a positive cash flow at the end of the year and an improving SOLCO share price !