Australian (ASX) Stock Market Forum

GOE - Go Energy Group

Jump to new
Re: SOO - Solco Limited

Thanks Bobdibob / Germany :

now even on German television ZDF:

actuell SOLCO share price (text page 645/3)

can be seen in most parts of Europe !!

:)
 
Re: SOO - Solco Limited

:)

Interesting for Australia:

Solco announces new home loan deal with AMP Banking
21.03.2006
Solco Ltd (ASX: SOO) today announced a commercial arrangement with AMP Banking, under which Solco’s customers will have access to discounted home loans.

Under the arrangements, AMP Banking will also rebate brokerage to Solco which will be used to help fund Solco’s sustainable water and power solutions in developing countries.

Solco customers will have access to a home loan package that provides a 0.80% pa discount off the AMP Banking’s standard variable rate (as well as other benefits such as no establishment or ongoing annual fees) to the home owner when they utilise Solco products which are designed to reduce household water and power bills while having positive environmental outcomes.

“By purchasing environmentally friendly Solco products, consumers will not only significantly reduce the household’s monthly power and water costs while also making a contribution to reducing greenhouse gas emissions but will now also have the opportunity to apply for a discounted home loan package through AMP Banking,” said Solco Managing Director Duncan Stone.

He said the home loan package was part of the total sustainable water and power product offering to its residential customers. These products include solar hot water systems and heat pumps, rainwater harvesting, grey water, home insulation, highly efficient home heating and cooling systems, and solar power.

Solco’s mission is to make a significant contribution towards changing the way the world accesses water and power, creating a sustainable and healthy environment for the planet while improving the populations’ quality of life.

“A percentage of every new Solco-AMP Banking Home Loan will go towards assisting Solco achieve this vision,” Mr Stone said.

A copy of the Solco-AMP Home Loan Brochure is attached. Full details of this package will be available on Solco’s website at www.solco.com.au in the coming weeks.

SOLCO AMP Brochure .pdf 190.76 kB

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

:)
 
Re: SOO - Solco Limited

:)

just to calm down the situation (after resignation of CEO Stone and CFO Arnott):

I talked with Robin Forbes (Non Exec. Chairman) this afternoon.

SOLCO business continues as usual !

SOLCO will now increase the profit of its business (this matter caused the conflict between Board and former CEO Stone).
After the huge expansion of the Company it is time to keep an eye on the revenues.

This should cause the rebound of SOLCO share price !

:)
 
Re: SOO - Solco Limited

:)

I talked with SOLCO this morning.

... it looks good ...

the board will meet on friday morning.

Statements will be given on monday or tuesday next week.

:)
 
Re: SOO - Solco Limited

we have been waiting for.....

Attention ASX Company Announcements Platform
Lodgement of Open Briefing ®
Solco Limited
126 Sheffield Road
Welshpool, Western Australia 6106
Date of lodgement: 12-Apr-2006
Title: Open Briefing ®. Solco. Directors On Strategy
Record of interview:
corporatefile.com.au
Solco Ltd announced last week the resignation of the Managing Director, Duncan
Stone, “because of conflicts with the Board over the business direction of the
Company”. Can you confirm that the disagreement was over acquisition strategy?
Chairman Robin Forbes
The Board’s prime objective is for Solco to be profitable as soon as possible.
Whilst Choice Electrics and the Solco Manufacturing Systems (SMS) international
business are profitable, the solar pumping and hot water businesses are
underperforming and require management focus. This needs to be addressed
before we embark upon the next stage of the acquisition program, such as that
Duncan proposed. While we have many growth opportunities, acquisitions at this
time distract management and we need to get back to basics in the short term and
focus on good growth opportunities in the existing businesses.
Our shareholders not only expect us to access the blue sky potential of our
decentralised sustainable solar power and water solutions for underdeveloped
communities, but also to deliver profits and dividends. We’re very much focused
on achieving these two goals in concert and the strategic review that we’ve been
undertaking for some time will help us deliver them.
corporatefile.com.au
Is the vision of becoming a global leader in the distribution of decentralised
sustainable water and power solutions still a strategic growth pillar?
2
Chairman Robin Forbes
Yes, we continue to see significant potential to build an international distribution
network for our products such as the solar pumps, water purification systems and solar
lighting, from the foundation of existing relationships with our SMS licensees.
However we want it to be a cautious, balanced expansion that’s focussed on the
most prospective markets. We’re actively marketing in Africa at the moment.
corporatefile.com.au
How will you achieve market penetration in the underdeveloped countries of Asia
and Africa? Is funding available for your products?
Chairman Robin Forbes
The key to reducing poverty in developing countries, such as those in Africa, is to
give the communities control over their supply of power and water. By providing
self sustainable water and power solutions that use the resources at their disposal,
instead of reliance on imports, living standards can be improved. Our successful
clean water purification projects in Sri Lanka and The Maldives and our water
pump and home lighting projects in East Timor are proof, plus our recent visits to
Africa confirm, that we have those solutions.
There is significant funding available through the initiatives of the G8 and the
UN’s Millennium Development Goals programme as well as programs sponsored
by the World Bank, national governments and major industrial companies to
empower local communities in developing countries.
We’ll access these markets through our SMS licensees and also through new
initiatives, such as selling to a government agency or a mining company that has a
charter to make a contribution to the local community. Our licensee in Mauritius
has good connections in Africa which will help open the market for us and has
been helpful in other areas as well.
corporatefile.com.au
What scope is there to improve performance in your current businesses? What
will be your operational focus?
Non-Executive Director John Beech
We’re planning to structure the business into two divisions; Power, which is the
national Choice Electrics solar power products distributor, based in Brisbane, and
Water, which is based in Perth. Water includes Hot Water Systems, Solar Pumping
and the SMS business.
Choice, with an annual turnover of $9 million, is a disciplined, profitable business
which has grown steadily over the last 23 years. While we acquired Choice in
March 2005, it has not been fully integrated into the Solco businesses.
We’ve set up an executive group, including Choice managers, to manage and
integrate the strategy of the two business units, to improve operational disciplines
and communications. Already Choice management has had some valuable input
into the West Australian Water operations.
3
The executive group is focusing on refining our Solar Pumping and Hot Water
System business models to ensure our products are targeted at the markets with the
greatest potential. Our Pumping strategy needs to be more focused on selling to
industry. We need to integrate our pump and hot water sales in Australia,
particularly on the east coast, where we may be able to leverage Choice’s
disciplined business systems and extensive distribution network of over 150
dealers. We need to consider adopting the Choice process of selling products in kit
form for customer installation which is more efficient and flexible than the
customised engineering and installation of the Solco products.
The strategic review has also put group overheads, which have been too high, and
working capital management, under scrutiny. We decided in late 2005 to
outsource parts of our manufacturing and we may be able to make greater savings
by additional outsourcing assembly closer to regional markets. We need to reduce
our freight costs.
The Hot Water Systems business needs to focus more narrowly on the markets in
Australia where we are most competitive, such as areas which are frost prone,
have poor water characteristics and low and medium water pressures rather than
competing with the leaders in the mass market across the product range. Our
research indicates that the opportunities overseas are much greater and therefore
our best option may be to invest more in marketing our SMS licenses and related
businesses.
corporatefile.com.au
The Solar Hot Water and the Solar Pumping divisions made losses in the
December 2005 half year. What factors contributed to these losses and what is the
outlook for these businesses?
Non-Executive Director John Beech
Both businesses failed to reach sales budgets and our overheads were too high.
The Solar Hot Water division felt the drop in government rebates to new home
owners and also suffered from low margins reflecting a long term contract with a
major builder that predates our acquisition of Solco. There were also redundancy
costs arising from the move to outsource assembly and reduce overheads.
While there’s been an improvement in hot water sales in the March quarter and the
low margin contract has finished, the world wide shortage of photo voltaic cells
has been a problem. Production costs, however, will be lower in the current half
year.
Solar pumping sales to the rural sector have been impacted by mild summer
weather conditions.
corporatefile.com.au
Growth by acquisitions has been one of the three pillars driving Solco’s strategy.
Given the recent management change, can you provide an update of your
acquisition policy?
4
Non-Executive Director John Beech
There are a number of companies that we’ve identified that would fit well with our
operations, particularly the Water Division, some of which are not big
acquisitions. It may not be long before our revenues and profit base are
sufficiently strong enough to justify activating a modest acquisition strategy.
corporatefile.com.au
Mr David Richardson, a former senior executive of the large engineering firm
WorleyParsons Ltd, was appointed to the Board in February. What was the
rationale for his appointment?
Chairman Robin Forbes
David has a strong strategic and operational business background with experience
in global markets which will be important to the ongoing development and
successful execution of Solco’s strategy to become a major participant in the
global sustainable energy and water market. He’s very focused on the bottom
line.
He has a track record of profitably managing his own start up business and
growing it to be a very significant enterprise within a public company which will
enable him to support our chief executive.
corporatefile.com.au
What are your plans for filling the role of Managing Director?
Chairman Robin Forbes
We need a chief executive to closely manage profit growth in our Power and
Water divisions and also to develop growth opportunities, whether by acquisition
or building on the opportunities to develop existing businesses. While John
Cooper, General Manager of Choice Electrics, is filling the role temporarily, we
don’t want him to be distracted from taking advantage of several significant short
term opportunities for growing Choice. We expect to announce a replacement for
Duncan soon.
corporatefile.com.au
Thank you, Robin and John.
For more information about Solco Limited, visit www.solco.com.au or contact
Robin Forbes on (08) 9268 2813 or John Beech on 0400 10 3675.
To receive future Open Briefings by e-mail, visit www.corporatefile.com.au.
DISCLAIMER: Corporate File Pty Ltd has taken reasonable care in publishing the information contained in this Open Briefing ®.
It is information given in a summary form and does not purport to be complete. The information contained is not intended to be
used as the basis for making any investment decision and you are solely responsible for any use you choose to make of the
information. We strongly advise that you seek independent professional advice before making any investment decisions.
Corporate File Pty Ltd is not responsible for any consequences of the use you make of the information, including any loss or
damage you or a third party might suffer as a result of that use.

:)
 
Re: SOO - Solco Limited

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.

:)
 
Re: SOO - Solco Limited

in Germany a strong idea comes up , that SOLCO soon could be taken over by strongly expansive solar industry , specially from Germany and that there is a big jump in the performance soon to be expected.
What is in the mind of australian friends of this interesting companie,which has a strong future anyway...?
 
Re: SOO - Solco Limited

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.

:)
 
Re: SOO - Solco Limited

SOLCO rebound?
Share price jumped up at Frankfurt. High trading volume (991.453 shares = 124.111,60 Euro)
:)
 
Re: SOO - Solco Limited

Summary Announcement. Solco. Financial Update

Date of Report: 29-Jun-2006

Solco Ltd (ASX: SOO) expects an EBITDA loss for the full year ending June 2006 of $2.3 million on projected revenue of $15.8 million. The estimated EBITDA loss for the second half year is expected to be in the order of $1.66 million on forecast revenues of $5.9 million. The loss in the second half reflects recent restructuring efforts.

This EBITDA loss follows a detailed review of operations by external consultants and the resignations of the previous CEO and CFO on April 3 2006. Significant once off restructuring costs and write-offs have been incurred to address operational problems identified in the external review.

The focus of the restructuring effort has been to return the Company to a cash positive and profitable operating position as quickly as practicable. Steady improvements in the underlying operating performance are being achieved.

The Company has restructured its business into a Power Division (the national Choice Electrics solar power products distributors based in Brisbane) and the Water Division based in Perth.

Gross margins are expected to improve due to a marketing focus on profitable areas, outsourced manufacturing, and stream-lined processes and cost reductions. In addition, stronger working capital and overhead management practices have been implemented, in part by better leveraging the successful Choice operation and experienced management team.

Management is now returning its attention to pursuing its vision to become a global leader in the decentralised sustainable power and water market. Solco is examining alternatives to expand its offshore licensing of its unique polymer solar hot water system as a result of encouraging ongoing technical and marketing work.

Solco’s domestic business is moving into emerging segments that are seeking to reduce their reliance on traditional high cost non renewable power sources. Solco’s range of solar power, thermal water heating and water pumping packages have a demonstrable immediate competitive advantage in sectors such as the mining, new eco residential developments and solar grid power systems.
 
Re: SOO - Solco Limited

What a show !!!

Look at Frankfurt. On 30.06.2006 SOLCO share price jumped up to 0,15 Euro.
Trading volume 10.272.298 shares = 1.499.037,75 Euro !!!
:)
 
Re: SOO - Solco Limited

up to 0,15 Euro and again down to almost 0,10 Euro !
Reason: push by a German stock letter recommendation followed by the usual fall back! :mad:

Nothing changed at SOLCO: business as usual. Expect news very soon.
Stay :cool:
 
Re: SOO - Solco Limited

just talked with SOLCO Chairman Robin Forbes:
"We expand the operations particularly in the solar part quite significantly. We are pretty well on budget".
In an update, probably next week, further informations will be given.
:)
 
Re: SOO - Solco Limited

Todays environmental problems have led to increasing demands for environmentally harmless, long lasting and high quality products.
Germany is far ahead of other countries, concerning the environmental business (Solarworld, Q-Cells, Conergy, etc.).
In Australia / New Zealand it is a starting market.
One of the most interesting companies in Australia is SOLCO Ltd.
SOLCO products help to create a sustainable and healthy environment and improve populations' quality of life.
SOLCO products: solar water heaters, solar pumps, solar power systems and water solutions (clean water / waste water treatment).

Solar Energy Systems (now SOLCO) was established in 1998.
In September 2004, Solar Energy Systems acquired Solco Industries; a solar hot water systems manufacturer established in 1988. Choice Electric, with 16 years of profitable operation, was purchased in March 2005.

SOLCO has manufacturing licensee’s in Sri-Lanka, Mauritius, Malaysia, Borneo, the Philippines, Portugal and on Malta.

SOLCO Total Revenues
2004: 2,30 Mill. AUD
2005: 10,23 Mill. AUD
2006: 15,80 Mill. AUD
The company is on target to break even this year.

SOLCO Ltd. is ready for today’s and tomorrow’s markets!

----

On 30.06.2006 a German stock letter (NTV page 299/Frick) recommended SOLCO as a buy.
The Peak of SOLCO share price with 0,153 Euro was on that day.
Now we experience an extreme fall of SOLCO share price.
This has nothing to do with the SOLCO business!
It’s simply a bad, but wellknown manipulation by short selling.
Due to the falling share price many shareholders got nervous and sold their shares.
It is the intention of short sellers to bring the share price to an all-time low.
Getting close to that point, on one of the next days we will probably see a strong buy of SOLCO shares and the share price will rise again.
For Australia and New Zealand - being ahead of Europe - it is a chance to buy shares before short sellers will do so.

All my posts are my personal opinions and by no means recommendations.
 
Re: SOO - Solco Limited

G8 summit: most countries favourite nuclear power for further use, even not knowing where to leave the nuclear waste!
With those world leaders this planet will never survive !!
Isn't crazy to use an electric heater, instead of using endless and inexpensive solar power ????
You better count on SOLCO .....
 
Re: SOO - Solco Limited

Did someone ever presented a bill for the real costs of burning coal and oil?
Many of us have been a victim of a striking back planet. The future will be worse.
The increasing number of extreme drought, rain, storms, will cause very painful and expensive damage.
Not to forget health problems, caused by polluted environment.

The problem of today: just a very few clever people look ahead and see the consequences of today’s misbehaviour.

I’m using a hot water solar system for almost 10 years and I’m really happy with it. Even in Germany you can use it approx. 8 of 12 month without paying money for the production of hot water. The breakeven was about four years ago.

I hope, SOLCO management is doing a good job. The coming update will be interesting. SOLCO share price is already rising.
 
Re: SOO - Solco Limited

Solco have come down in price from 43 cents to 16 cents and seemed last year that capital raising was strongly needed, my view then was " desperately needed ". A very laudible company that deserves to succeed.

The placement of 8 million shares at 18 cents does seem to have set a pattern for the future, that is further fund raising. The heralded German interest does seem to say that there is lack of Aussie interest - what do Germans know about Australia.

Will come right some day, but for now 16 cents looks about right until enough funds are obtained from placings.
 
Re: SOO - Solco Limited

The time to buy a stock is when it has reached a low and is prepared to soar again. Now is that time. This stock has seen .43 and can easily return there again quite soon.

All my posts are my personal opinions and by no means recommendations.
 
Re: SOO - Solco Limited

StockExplorer said:
The time to buy a stock is when it has reached a low and is prepared to soar again. Now is that time. This stock has seen .43 and can easily return there again quite soon.

All my posts are my personal opinions and by no means recommendations.
Click to expand...

StockExplorer, if you are going to make claims such as the one above then here at ASF you are expected to back them up with something. You state that your posts are not recommendations but you then recommend people buy without presenting any case to back up your view.

In future, posts such as these, which are blatant ramps, will be deleted.
 
Re: SOO - Solco Limited

@ Joe Blow
sorry, I'm probably too far ahead.

----

talked with SOLCO this morning. For the coming update we have to wait a few weeks more. Robin Forbes is presently in Europe. Business is back on track. Choice is doing very well !

Some interesting news:
SOLCO Ltd. is now distributor for German Company OKU (Pool and Solar Tech)
http://www.okuonline.com/docs/en/site/salespartner.php
The SolarFlow RO Unit http://www.solco.com.au/products/solco_water_solutions/solarflow_ro_unit
has been improved and is now able to produce up to 2000 ltrs drinking water per day.
:)
 
Top