SOLCO Ltd ("SOO") sustainable energy co

[StockExplorer]

Talked with SOLCO-Chairman Robin Forbes this morning. SOLCO Board will meet on Monday, 16.04.2007. For future growth acquisitions are planned.
I guess there is already something in the pipeline. Expect news after above date.

[StockExplorer]

19.04.2007

Solco Ltd (ASX: SOO) The Directors of Solco are pleased to report to the market on the progress of its phased corporate re-invigoration.


Phase 1 (Addressing the Past)

The Company believes the significant negative operational performance has now been substantially arrested through systematic remedial action since late August 2006 under Managing Director (and major shareholder) David Richardson.

This program of remedial work to resolve the underlying problems of the past is not complete, and has lead to a revenue reduction, as underperforming lines of operation have been rationalised. However, the Directors believe that Solco now presents as a sound base from which to leverage the future potential of the Company.


Phase 2 (New Board)

From 18 April 2007 the Board of Solco is to comprise:

Steven Cole (Chairman)

John Beech (Non-executive Director and Company Secretary)

David Richardson (Managing Director)

Mr Robin Forbes has retired from his position as Non Executive Chairman of Solco Limited effective from 18th April 2007 although he will remain temporarily as an alternate director to Mr Richardson.

Mr Forbes' retirement was foreshadowed during the final quarter of 2006 as part of the re?structuring of Solco when it was agreed he would step down as a director when a new appointment was made. The Board would like to acknowledge Mr Forbes' contribution to the Company through some very challenging times and his stewardship over the recent period of transition.

Mr Cole brings high level commercial skills in the areas of corporate governance, capital and financial markets, and mergers and acquisitions expertise. In addition, Mr Cole's experience in strategic and business planning, and financial and risk management will be important as Solco develops and executes its growth strategy for the future.

Mr Richardson said he was pleased that Solco prospects are now such that it can attract the commitment of someone of Mr Cole's calibre to the Board.

Mr Cole said he believes that the world is only now beginning to realise the potential of the sustainable energy sector. "The opportunities for Solco, as an emerging participant in this dynamic sector, are significant. I am also delighted to be working with Managing Director, Mr David Richardson, and the team with strong commercial and engineering disciplines he is assembling at Solco."

Mr Cole has 30 plus years of professional, corporate and business experience, through his legal training, as well as a range of other non-executive and executive corporate appointments. Steven is a senior partner of leading national law firm Allens Arthur Robinson, Deputy Chairman of the Professional Standards Councils of Australia, Vice President of the Australian Institute of Company Directors (WA Division) and Chairman of two investment companies with over $20 million under management.


Phase 3 (Capital Raising)

Solco announces an initial capital raising program of $2.95 million for development and working capital to allow Solco to build its human and strategic infrastructure requirements pending refinement of its strategic pathway forward. These funds are to be raised as follows:-

1. $2.45 million (approx) from a 1:4 renounceable pro rata rights issue at 7 cents per share to existing shareholders (as at a Record Date, yet to be set, but anticipated to be in June) following preparation and lodgement of a prospectus with ASIC and ASX.

2. Subject to shareholder approval in EGM (anticipated to be held in June), and in compliance with applicable ASIC and ASX requirements, $0.5 million by the placement of 7,142,857 shares at 7 cents each to interests associated with Steven Cole (representing approximately 4% of Solco's fully diluted share capital base).


Phase 4 (Strategic Pathway Forward)

In anticipation of completion of the Phase 3 capital raising initiatives, the new Board, in conjunction with executive management, are actively developing Solco's future strategic pathway in the growth driven sustainable energy and water sectors,

[StockExplorer]

Third Quarter Report

30.04.2007

Solco generated a positive operating cash flow for the 3 months of $67k. This is the second consecutive quarter of positive operating cash flow.

The Company is benefiting from the tight control of its costs and working capital over the past 6 months. The latest result covers specific new expenditures aimed at growing the business.

Cash receipts for the quarter were $2.4m bringing YTD receipts to $7.9m.

Cash at bank at the end of the quarter was $870k up by $21k as at 1st January 2007.

As announced on the 16th March two contractual issues were settled. The first saw a final settlement reached with the original owners of Solco Industries, including an initial $33k cash payment made during this quarter. The second, involving possible legal action with the original inventor of the Sunmill pump, had no current or future impact on cash.

http://www.solco.com.au/investors/qu..._4c_march_2007

[StockExplorer]

SOLCO up 55% !

Budget to energise solar power

The Government has revealed a range of measures to tackle climate change will be part of tonight's Budget, including spending $150 million over the next five years to increase the use of solar power in homes, schools and community buildings.
http://www.abc.net.au/news/newsitems...5/s1916879.htm


SOLCO-owned CHOICE ElECTRIC
has been very active in the Solar
Schools program in Queensland, which is
administered by the Environmental
Protection Agency of Queensland (Qld
EPA). Choice was contracted to install 5kw
grid-connect school systems for 19 schools
in the Torres Strait; 8 of which were
completed in 05/06. All of these school
systems have now been successfully
installed and commissioned on time and on
budget.
Choice has over the past five years installed
65 grid-connect systems in Queensland
schools working with Qld. EPA and Ergon
Energy. Due to the successes with solar
schools Choice has been awarded 3 more
2kw grid-connect school systems in late
2006, giving us the opportunity to work
closely with Energy Solutions Team.
The newly formed Choice Western
Australia, whilst only operating for a short
period has been awarded 13 solar schools
with 8 of these systems successfully
completed to date. Choice presence in WA
will be expanded during 06/07 to become
part of our core Distribution and Project
business.
Annual Report 2006 http://www.solco.com.au/investors/annual_reports


SOLCO SP ASX 08.05.2007
Code Last % Chg Bid Offer Open High Low Vol
SOO 0.135 55.17% 0.135 0.140 0.090 0.140 0.090 3,299,329

0,135 AUD = 0,0823 Euro

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received following for FOREIGN SHAREHOLDERS
July 20, 2007
Dear Shareholder,
RENOUNCEABLE 1:4 RIGHTS ISSUE (“ISSUE”)
- RECORD DATE : 20 JULY 2007
- RIGHTS TRADING COMMENCES : 16 JULY 2007
- RIGHTS TRADING CLOSES : 31 JULY 2007
Solco Limited’s prospectus for the Issue is dated 5 July 2007 and has been lodged with both ASIC
and ASX. A copy of the prospectus may be viewed on
http://www.solco.com.au/investors/an...nts/prospectus.
Solco has a significant number of Foreign shareholders and wishes to ensure that they have the
maximum opportunity to participate in the rights issue where it is allowed under the ASX Listing Rules
and Corporations Act and to derive some benefit where they are precluded from the rights issues
under the regulatory framework.
Solco’s Foreign shareholders generally fall into one of two categories:
1. Foreign Shareholders registered with overseas addresses on the Solco Australian Share
Register managed by Computershare. Under the regulations, these foreign shareholders are
not able to participate in the rights issue. However arrangements have been made for the
rights of such Foreign Shareholders to be traded and any funds obtained will be remitted as
explained below
2. Foreign Shareholders who hold their shares through a nominee company with an Australian
address on the Solco Australian Share Register managed by Computershare. These Foreign
shareholders can only participate in the rights issue if they properly instruct the Australian
domiciled nominee company holding the shares on their behalf to accept their entitlement to
shares and provide the necessary funds through that channel. This option is explained in
detail below.
Foreign Shareholders registered with overseas addresses on the Solco Australian Share
Register
Although the Issue prospectus will only be made available to shareholders at the Record Date with
registered addresses in Australia and New Zealand, Solco has appointed:
#61623;#61472; Zenix Nominees Pty Ltd (a related entity to Hartleys Limited stockbrokers) of Level 6, 141 St
George’s Terrace, Perth, Western Australia.
o Phone : 61 8 9268 2888
o Fax : 61 8 9268 2800
o Attention: Talena Maes
to facilitate the sale of rights under the Issue for the benefit of foreign registered shareholders, in
accordance with ASX Listing Rule and Corporations Act requirements.
The net proceeds of the sale of the Rights (if any) after deducting all costs involved in the sale
process and subsequent distribution of such proceeds, will be distributed in Australian dollars to
overseas Shareholders for whose benefit the Rights have been sold in proportion to their
shareholdings as at the Record Date, save that individual amounts of less than $10.00 will be retained
by the Company.
Once the period of rights trading has passed either the Share Registry or the Company will remit
funds to the addresses held on the data base. Full details of these arrangements are set forth in the
Issue prospectus.
In this manner foreign registered shareholders may gain the benefit in value of the rights attaching to
their shares if there is an active market in the trading of such rights.
If you are a foreign registered shareholder at the Record Date you may care to contact Zenix
Nominees Pty Ltd (as above) or Solco Limited to ensure that your entitlement to participate in any
trading of rights attaching to your shares is registered.
If you are a foreign registered shareholder at the Record Date you may wish to make sure all details
are correct by contacting Solco Ltd’s Share Registry:
#61623;#61472; Computershare Investor Services Pty Ltd, GPO Box D182, Perth, Western Australia.
Telephone – 61 3 9415 4000 Fax – 61 8 9323 2033 www.computershare.com
Foreign Shareholders who hold their shares through a nominee company with an Australian
address on the Solco Australian Share Register
If shares are held through an Australian registered nominee company or intermediary, then the
beneficial foreign shareholder is treated as an Australian shareholder under the regulatory framework.
In t

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ASX notice 30.08.2007:

Preliminary Final Report

http://www.asx.com.au/asx/research/C...=SOO#headlines

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APPENDIX 4C – SEPTEMBER 2007

FIRST QUARTER CASH FLOW REPORT

For the quarter ending 30th September 2007, Solco Ltd sales
revenue from ordinary operations increased by a healthy 27% to
$3.3m compared with the corresponding period for 2006.
Although net operating cash flow for the period was negative $195k
this is accounted for by the timing delay of cash receipts from the
increased sales and the increased working capital needs to support
the expanded business (receivables up by $459k with inventories
down by $295k and payables also down by $43k for the quarter).
Cash at bank as at 30 September 2007 was $3.38m, up by
$2.575m since 1 July 2007 due largely to the capital raisings by
way of options conversion, pro-rata rights issue and placements
already reported to shareholders.

http://www.asx.com.au/asx/research/C...=Soo#headlines

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ASX Announcement :

21/11/2007 New CEO and Restructured Board

http://asx.com.au/asx/statistics/ann...pe=Y&year=2007

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SOLCO could be one of the winners of Labor’s Solar Australia !

Read this :
http://www.alp.org.au/download/now/s...mes_policy.pdf

[StockExplorer]

from the German Wallstreet-Online Solco forum (by Halotri25)

quote
Many thanks for your enquiry.

I am happy to report that the turnaround of your company is progressing well with sales continuing to grow. The March 08 quarter saw sales of $3.749M which is a 55% increase on the corresponding period last year ($2.422M).

I haven't issued a forecast to the market for the June 08 quarter but nothing has changed from my past statements.

On potential mergers and acquisitions, we have been actively pursuing opportunities but have found some unreal expectations in terms of price from other companies in this industry. It is our feeling that this will change and a period of consolidation is likely to occur. For us to acquire or merge with another company, we need to have our business operating correctly so that integration risks are minimised. This has been part of our focus and I'm pleased to say a lot of progress has been made.

I intend to report the preliminary results of the past financial year (July 07 to June 08) to the market in the next couple of weeks. At that time, I will also outline our ongoing strategic directions.

I thank you for your patience as we complete the turnaround of this company. Like you, I believe the time for the Solar industry in Australia is here.

Kind regards,

Alex Lamond
CEO | Solco Ltd
unquote

source
http://www.wallstreet-online.de/disk...aus-australien