SOO - Solco Limited

[clowboy]

I see SES is listed in this months MONEY magazines penny hopefuls (pg 27)
Do you still have any holdings stefan?
It is always reasuring when so called experts agree with thoughts one already has.

Any comments welcome, speculative stocks provide the most fun IMHO.




Admin note: Solco Limited (SOO) was previously called Solar Energy Systems (SES)

[stefan]

Clowboy,

Yes, I'm still holding and I'll keep doing so. This is one of the stocks I consider worth holding as they are growing and I certainly like the idea of solar energy. I have a feeling that alternative energies will gain momentum with such high oil prices which I mentioned a few times before on this forum. I believe that companies who work in that field deserve my support and therefore my money.

Anyway, long story short, I hold and I'll keep adding.

Happy trading

Stefan

[clowboy]

Yes I would agree with you in that they will begin to gain momentum within a few years, however I dont know how much of that will be becuase of fuel prices (while not underestimating this factor). Personally I think that society is slowly getting on the bandwagon (so to speak) in terms of sustainable energy. Im not sure if it is a national law but it is certainaly law in WA (where I live) that houses (ones being built) must now meet enviromental standards (such as installation of insulation). Given the technological advancements of solar energy (ie there efficiency) and the huge incentives the govt gives for installing them it is certainly what I would install if I ever had the need arise.

Anyway I think that people generally want to go with the better option for the enviroment however as with everything cost is always an issue.

I would think that SES has a lot of potential and as always it will probally come down to managment.

I have been thinking about buying some stock for a couple of months now and the "tip" in MONEY further tested me but I am unfortunatley not in a posistion to take that sort of a risk ATM.

If you dont mind me asking what was your buy price? If you do NP.

Thanks for the feedback.

On a further note.......regardless of price fuel (oil) will eventually run out.

[stefan]

Hi Clowboy,


Yes I would agree with you in that they will begin to gain momentum within a few years, however I dont know how much of that will be becuase of fuel prices (while not underestimating this factor). Well, history has shown that people only change when they have to pay a lot of money if they don't. Only a minority will invest into the future just because they feel that it is the right thing to do. The vast majority will keep burning fuel like there's no tomorrow and for once that's really true. As you said, oil will eventually run out. It's just sad to see that we will have to run out of oil before we will start looking for better ways. It proofs again that we're not changing unless there is no other way.

I bought my SES shares at .215 after it rose to 20 cents and formed a new solid level there. I was looking for solar companies for a while and that one seemed to fit the picture.

Happy trading

Stefan

[still_in_school]

Hi Stefan,

currently also holding SES, though giving this stock some time to mature... do you have any expectations of, what the stock could look like in the nearer summer months... IMHO the market depth is showing the stock really wants to break that .27 mark, with also the hope of Money magazine publishing the stock... could see a nice bump up...

Cheers,
sis

[stefan]

Hi SIS,

No, I'm sorry but I don't have any expectations as to what this stock may be worth in a few months. I'm holding this one because I like it and because I think it has potential. Whether it will go somewhere within a few months is hard to tell. I take it that the money magazine is helping it a bit but then again it is already outside the buy price limit they set in there.

I'll just keep holding and I'll decide later on what to do once it starts moving above 30 cents (Which it never has so far).

Happy trading

Stefan

[RichKid]

The two stocks in money mag by Haslehurst are selections from the wider portfolio he describes weekly in the Bulletin's Speculator column. There was a whole page (almost) on SES in last weeks Bulletin so have a look there for more info.

Not all of Haslehurst's picks do well, some take a long time to come around. IMO, he buys and sells in a manner which makes it hard for readers to match as he only publishes weekly but I noticed recently that he gives some warning about the price he's looking to enter a stock at. His BQT and QRS picks from last months money mag have both gone south, BUT he did pick those in the Bulletin much earlier.
Hope this helps (remember that Origin Energy has a big investment in solar energy too).

Check out the tip sheets thread for more info on the bulletin column.

[JetDollars]

If SES can breakthrough 25 Cents resistance then I think it will continue it up trend for a while. SES has been trading at or below 25 Cents since 13/08/04, but only one time it actually breakthrough the 25cents (24/09/04) then the bear take controlled and pull it back to 24cents.

The EMS (8, 16, 24, 32) indicated a buy signal two days ago. Volume has increased in the last 14 days of trading, but the RSI just reach the overbought level.

If SES breakthrough 25cents then it will be in my buy portfolio. I will keep a close watch on this stock for my high risk portfolio.

[stefan]

Interesting chart, Jet.
Yes, there is quite some resistance at 25 cents. I think we just have to wait until there is some news coming out of it that indicates a positive fallout of the aquisition they made recently. There are a few interesting things happening in that field.

I don't expect wonders and a price higher than 30 cents would already be a nice event. (Especially if it happens this month so that I can keep a top spot in the competition... )

Happy trading

Stefan

[still_in_school]

Link for SES - http://www.sesltd.com.au/html/investor.htm

SES has already attracted some major institutional support.

Unilever Pension Fund (and associated parties) - currently 33% Shareholder
AMP Sustainable Development Funds Holds - 4%

though on the technical analysis, SES is still showing alot of bullishness, IMHO

Cheers,
sis

[stefan]

Unilever Pension Fund (and associated parties) - currently 33% Shareholder
AMP Sustainable Development Funds Holds - 4%sis, excellent points. It is always a benefit if the big players are starting to invest. I guess it will test the 25 cents this week and we will see what happens once it breaks it.

Happy trading

Stefan

[clowboy]

Time to take some of the limelight of MUL

Next week should be an interesting week for SES with the annual report due on the 25th of OCT.


Given the way the market reacted to the investor update report on 27th july if the report is good news it may be a good week for SES

[stefan]

Next week should be an interesting week for SES with the annual report due on the 25th of OCT.True. I had no intentions to post until next week but you're right. Too much talk about MUL! Time to focus on other stuff. So, yes, SES should slowly develop into an interesting company. I have to do a bit more reading about their future plans to find some hints regarding a possible move in its share price. I remain positive with an above 30 cents target. I'm looking forward to see some benefits of their recent aquisition so the annual report may give us some ideas about what's going to happen.

SES is one of about 5 companies forming my current portfolio and while I wouldn't put it up as a hot favorite, I certainly like the company as such.

Happy trading

Stefan

[JetDollars]

I think SES will either break $0.25 this week or fall back to around $0.21 support level.

I am stll waiting to enter my position.

[stefan]

SES in pre-open! Excellent investors news. First time profitable quarter with more than a million dollar cash in the bank after aquisition.

I like this company. Glad to hold some shares. Hopefully they can turn this into a success story.


Happy trading

Stefan

[clowboy]

Well.


I was hoping for financials from the meeting (wasn't it on monday?)

Anyway the shares didnt really do much with the news did they?

[stefan]

The AGM is scheduled for 30 November. (See news released yesterday).

SES is probably not on a daytraders list as it doesn't have the volume to be attractive enough. So news like the one yesterday may take a while to push up the price. Mind you it is already trading at rather high levels and I don't expect it to go much above 30 cents in the very near future. It will certainly become more interesting after the AGM as we will see more detailed figures and strategies.

Happy trading

Stefan

[clowboy]

fair bit of volume in SES today

Anyone have any ideas?

[still_in_school]

Hi Clowoby,

have been noticing that all day, though i think the volume is due to some reporting coming out in about 2 weeks time, just some buyers moving in early... thats my guess... though still holding stock at the moment, though waiting for a run above .30 cents, between now and the 30th of Nov, next reportings i believe...

Cheers,
sis

[stefan]

SIS,

I agree. I'm holding, looking for 30+ myself. But I have to say I'm reluctant to sell. I like this company and their products. Will watch closely what happens during the AGM but I'd expect nothing good news all the way. I think they are really getting it right there and as such I'm pleased to be a shareholder rather than an investor who's in for the quick profit.

Happy trading

Stefan

[stefan]

I'm glad to see SES finally reaching +30cents today. It's getting attention and I think there could be more in store. I'm going to hang on to it for a bit longer.

Happy trading

Stefan

[stefan]

Still holding strong at 0.33. Didn't show any sign of selling today which I take as a confirmation that it's regarded as a stock with serious potential in it. Never know what happens tomorrow but I think it will try .35 early next week if it can hold on tomorrow. There is a bit of a wall around that level though.

Happy trading

Stefan

[stefan]

If Tech could post a chart for SES then that would be most appreciated. I'm holding and it sure looks promising from a fundamental side of it.

Happy trading

Stefan

[tech/a]

Stef.

This ones actually heading North!!!

[stefan]

Tech, thanks for the quick reply.

I sure like what I see with this one. I'm holding based on my fundamentals and it's sure good to see something promising on the tech side of things as well.

Thanks again

Happy trading

Stefan

[Tric]

thnx stefan & tech/a for the above!

I bought into ses beg nov @ .24c and was going to take my profits today but read your posts last night, and have decided to stay in and watch what happens...

yes, stef they do have the fundamentals and finances and all importantly, an extremely good project/product, that's what got me into them.

Here's hoping the charts are on track...
:)

[Tric]

I sold out of this last week with a good profit but I've been watching to maybe buy back in...
18% down since posts on 13th Dec (low today @.26),
Worth a look when considering tech/a's chart.
Maybe a good buy at present?

Possibly name change to soo from ses (17th Dec) and now without old anns on comsec etc has had an impact on price?

[stefan]

SOO will have its pullbacks on profit taking but I'm still very bullish for the long term. It's back at 30 cents after a quick drop to 26 which would have been a good chance to buy back in indeed. But there may be others. It always takes a bit of an effort to go higher than 30 cents. I wasn't around much this week so I missed most of the action.

Happy trading

Stefan

[stefan]

I like what I'm seeing here. SOO has shown constant upward trends despite some profit taking. It is slowly growing and is now back above 35 cents. Will be most interesting to watch it develop from here. I'm still holding and still remain bullish based on the fundamentals including their products and recent aquisitions. With their new force in Europe, things are looking very promising to me. It will test its recent all time high shortly.

Happy trading

Stefan

[RichKid]

Nice breakout there from the triangle, flying towards 40c. You must be happy Stefan! Might return to trend soon to consolidate, but overall it's a robust outlook technically.

[clowboy]

Hey all,

Anyone have any thoughts on SOO lately?

Seems to be in freefall.

Directors resignation or insufcient profit?

[RichKid]

Looks like it's just returning to the underlying trend support line, probably will bounce off it around 30c, more volume would be nice. Have to wait and see if it goes to an even lower trend line around the mid 20's.

[RichKid]

Trying to post a chart with trendlines. Tech/A, GP or someone else may have to post one otherwise if they have time. Also appears to be some horizontal support at 30c, I'd look for volume confirmation for safety. Can't see why fundamentals would have changed for this.

...No good, can't post the trendlines. Sorry. In words: draw the lower trendline from the two lows at the bottom left of my chart above. Then draw the higher trendline from just before it took off on the recent trajectory, line should be somewhere around 30c for high one and mid 20's for low one with 180 day EMA in between the two. That's how I recall it looking anyway from my quick work on Bigcharts.com Tech had an old chart, it's more or less like mine but with more detail and greater accuracy- Tech/A will have the best view on this.

[tech/a]

Rich Private mail me.rwi at chariot dot com dot au

[clowboy]

I'd put my bet on a freefall.

Thanks for the responses guys.

[RichKid]

Thanks TechA for helping out, I'd still keep an eye on that lower trendline that would be intersecting around the mid 20s, origin of trendline is off the chart (to the left), it was in your earlier chart from a few months ago. Lack of volume is a real worry imo. Some of the trend intersection lines correspond to horizontal congestion(?) areas, top two shown by Tech. Some Gann retracement measurements may help if this continues down. A wait and see for me.

[RichKid]

I'll see if I can post a trendline chart. the line is a bit off as I'm still tinkering...

...yippee! it works, but I still haven't drawn the line correctly, you can't scroll horizontally (time axis) on Incredible charts so I find it difficult. Last look told me that SOO was flirting with 30c, if it breaks it'll fall imo til volume picks it up again imo but I haven't really studied the chart that well yet. just glad I've got something with a trend line up!

[clowboy]

Well it's still above 30cps ATM but it fell to a low of 27cps today.....

[RichKid]

Looks like a good candidate to apply Elliott Wave to, for those who know how. I'm on the sidelines waiting to see how this one turns out.

[clowboy]

Eliot wave???


Can anyone post complete market depth for this stock?

Westpac only goes ten deep (which sux)


Thanx in advance.

[tech/a]

Ill post it tommorow B4 open if I remember!!

[RichKid]

Eliot wave???


See this thread for a sample: http://www.aussiestockforums.com/forums/showthread.php?t=1032
also search ASF for other comments on EW. A free course from Elliott Wave international that you can download, search via Google, referred to in ASF by TechA etc. Too hard for me, somewhat hard to know where to label what and when...

[clowboy]

Any chance of that Market Depth Tech/A??

[clowboy]

Any up to date thoughts on this stock?

Seems to have changed trend direction (at least im hoping it has).

I meant to enter it in the stock tipping comp but forgot.

Am holding a small number of stock and so far so good.

[GreatPig]

I've been watching it for a little while, and actually had an order in to buy some a few days ago for 30 cents. However, it didn't go through for a while so I cancelled the order and bought something else instead.

Cheers,
GP

[Aussiejeff]

Unless they have a cracking announcement up their sleeve, I would say the charts would indicate a fall in the price in the short term.

Regards,

AJ

[Osberry]

This one had a big jump ! why

[tarnor]

Solar energy having a bit of a run atm..
I brought in on monday at 26c my reasoning was that DYE(solar energy) had just gone from 20c to 2$ in a few weeks because of german buying.. and last friday SOO had sky rocketed on the german exchange... So I think what you saw tuesday is everyone trying to get on to the next DYE expecting a huge move subsequently creating one..it was hit by some heavy selling on our exchange and it got sold off a bit in germany its building back now tho.. I sold half on the tuesday spike and traded it on the way down rather unsuccesfully, sellers thinning out now i think it wont be long before its over 30c again... the following is an extremely good post explaining whats going on



Hi guys,

Thought these points may interest:
- Since October last year the DrKW (Dresdner) Solar Index, which covers all solar companies listed in the world, has risen approximately 450%.
- This index is the number one performing index of any index in the world so far for 2006
- Some of the companies on this index have had astronomically large increases in market capitalisation in recent months. To name just a few Q Cells (a reasonably new listing, up 67% in 3 months to 3219 million euro), Solarworld (up 88% in 3 months to 3092 mill euro), and Conergy (up 82% to $1386 mill). There has also been some very large listings in the US in that time, with two companies representing some $6.5 billion euro of market cap!
- This is due largely to the sensational subsidy programs in Europe for both Solar electric (PV) and solar thermal (hot water). Yesterday's annoucement was very significant for Solco, particularly as there will be sales made to the Italian market, which is closely following Germany and Spain for the best subsidy programs (Solco is also in place in Portugal, from which they sell to Spain).
- Solco is one of the smallest companies on this index, and even after the recent run is still one of the worst performing (down 1.8% over the last 3 months). THis is a function of two major shareholders, selling stock, despite Solco's forecast to achieve its maiden profit. These shareholders sold most of their stock on Monday, and I suspect the balance on Tuesday.
- What started this run was a tip sheet in Germany called wallstreet-online.de calling a switch from Dyesol at ~ $2 to Solco at 18c. Wallstreet online is one of the largest of the tipsheets in Germany
- Large broking firms in Europe such as Dresdner and Credit Suisse are extensively covering the solar market. Co-incidentally (?) a lot of the buying in recent days in Solco has been from Credit Suisse.
yoinked from - van der Meijde - HC

[Investnix]

:) Hello everyone -
I currently live in Germany and would like to find out a little more about SOLCO , how do u people judge the future of this company ! :aus: in Germany are quite a few Investors interested in this stock - will there be any news coming up soon ???? What du u expect !?? :confused:

The candlestickchart for tomorrow looks rather interesting , there could be a change in trend coming up !!

the pattern looks like a bullish ´doji star´ !! :grinsking so thursday should bring a new uptrend !! :D

[sunboy]

There will be the result of the last half next week. I guess the Australians have not understood the potential of Solco. I think next week they will wake up and we will go very fast to the 1 Euro threshold. This stock is more attractive than for example Dyesol. Let's get started!!

[YOUNG_TRADER]

Have to admit, never even looked at the renewables sector, but after watching DYESOL go nuts and seeing these posts took a look at SOO (Solco)

It looks like a good company but I think 1st half results will be a bit dissapointing, from what I can see in 1st half they achieved sales of $9.5m (which is really good given that total 04/05 sales were $10.2m) however I think it will still be a loss of around $1m for 1st half.

I think company will beat forecast sales of $16m this year if they continue with good sales volumes, yet EBIT based on sales of $16m is only $0.4m.

Company looks good long term but needs to demonstrate a bit more ooomph, not to mention the fact that they planned 2 lots of capital raisings,

1. To institutions 6m@28c, as far as I can tell not even $1 was raised from this

2. SPP 3m@28c ended up being 2m@20c

It's on my watch list

[StockExplorer]

good morning Australia, good evening from Germany

wake up, see the good future of SOLCO, and invest in this company !

for further info:

http://www.solco.com.au/investors/announcements/half_year_review_of_operations_and_accounts

in Germany many investors are surprised that Australia seems to be not aware of the high potential in SOLCO.

The future is SOLCO :)

[canny]

I would expect another spike in Solco after their next ann - which they have alluded to.
The sector can only move forward with the onset of solar hungry consumers.
Both DYE and SOO should capture the market again soon IMO.

[YOUNG_TRADER]

It looks like a good company but I think 1st half results will be a bit dissapointing, from what I can see in 1st half they achieved sales of $9.5m (which is really good given that total 04/05 sales were $10.2m) however I think it will still be a loss of around $1m for 1st half.




Revenues = $9m Result= $0.6m Loss

I was very very close in my estimates!

So I reiterate what I stated before!



I think company will beat forecast sales of $16m this year if they continue with good sales volumes, yet EBIT based on sales of $16m is only $0.4m.

Company looks good long term but needs to demonstrate a bit more ooomph, not to mention the fact that they planned 2 lots of capital raisings,

1. To institutions 6m@28c, as far as I can tell not even $1 was raised from this

2. SPP 3m@28c ended up being 2m@20c

[StockExplorer]

Hello Australia

I expect SOLCO news until thursday.

read in Share Trader NZ from Steve Fleming:


Posted - 18/03/2006 : 11:03:32 AM
--------------------------------------------------------------------------------

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


:)

since friday the SOLCO share price is visible on NTV television !!!
For those in Europe: NTV text pages no 211 and 258/5

:)

and look at this:

http://www.solco.com.au/content/view/full/824

:)

for complete info:

http://www.solco.com.au/

[StockExplorer]

Hello again,

German SOLCO chat boards:

Wallstreet-Online (1290 postings):

http://www.wallstreet-online.de/ws/community/board/threadpages.php?&tid=00973612&fid=23&page=129


AktienCheck (128 postings):

http://www.aktiencheck.de/forum/_hot/236732/thread?page=5

:)

[StockExplorer]

Good morning from Germany again,

do you think Director Stone and family are going to waste money by investing in their own company ???

look at this:

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=SOO

look at the SOLCO Ltd. announcements
15/03/2006 Change of Director's Interest Notice 3 PDF !!!


I guess, they know what they do !!

:)

[robert toms]

I held SOO about three years ago....it is a feel good stock that has always had potential but never quite delivered as yet...I bailed out when they stated that they would make an initial profit,but did not deliver.Anyone know why the founding CEO left the company not so long ago ?
This one has had too many false dawns for me...but as you say plenty of potential,but not enough for me !
Good luck to you if it delivers for you !

[el_ninj0]

Looking very positive in my opinion. In the wake of DYE, i'd say SOO is bound to get atleast some residual ripple effect action. Also the germans seem to be pretty keen on this one, im suprised our good mate chicken hasn't already jumped into a wild ramp about this to be honest...

In real news:

Solco's AMP venture seems like a very positive step forward in gaining market dominance. Even on a below average house loan over 5 years you can save upto $15,000. I wouldn't say no to an extra 15,000.

Cant really say much about the chart though, its all over the place, who knows when the next spike will be, or fall for that matter.

Anyone got some good info that might build on my speculation?

[Investnix]

Solco`s chart looks pretty good at the moment !! :D

AU:SOO Solco Ltd (Sydney ASX) 3/20/2006 4:16 PM
hide quote detailed quote
add to favorites list favorites

chart help Help on Interactive Charting

Last:
0.265 Change:
+0.025 Open:
0.26 High:
0.265 Low:
0.255 Volume:
489,418
Percent Change:
+10.42% Yield:
n/a P/E Ratio:
n/a 52 Week Range:
0.165 to 0.43

http://bigcharts.marketwatch.com/charts/big.chart?symb=au%3Asoo&compidx=aaaaa%3A0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=4&size=2&state=9&sid=411187&style=320&time=4&freq=1&nosettings=1&rand=3425&mocktick=1

[StockExplorer]

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 !!

:)

[StockExplorer]

:)

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.

:)

[StockExplorer]

:)

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 !

:)

[StockExplorer]

:)

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.

:)

[StockExplorer]

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.

:)

[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.

:)

[joseppe]

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...?

[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.

:)

[StockExplorer]

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

[StockExplorer]

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.

[StockExplorer]

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 !!!
:)

[StockExplorer]

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:

[StockExplorer]

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.
:)

[StockExplorer]

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.

[StockExplorer]

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 .....

[StockExplorer]

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.

[noirua]

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.

[StockExplorer]

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.

[Joe Blow]

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.

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.

[StockExplorer]

@ 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.
:)

[StockExplorer]

Summary Announcement. Solco. Suspension pending recapitalisation
Date of Report: 07-Aug-2006

Solco Ltd (ASX: SOO): The directors of Solco Ltd (“the Company”) request a suspension from trading while they undertake a process to recapitalise the Company.
The directors advise that the Company has not been able to close the placement announced on 13th July 2006 because the market has traded below the placement price of AU $0.18.
The Company is undertaking a further financial review of its business in light of the recently reported financial performance for the June quarter.
The Company has also commenced negotiations with parties to recapitalise the Company subject to the appropriate approvals. The Company considers that it is prudent to suspend trading in its securities pending an announcement as to the outcome of such financial review and recapitalisation negotiations.

[noirua]

Summary Announcement. Solco. Suspension pending recapitalisation
Date of Report: 07-Aug-2006

Solco Ltd (ASX: SOO): The directors of Solco Ltd (“the Company”) request a suspension from trading while they undertake a process to recapitalise the Company.
The directors advise that the Company has not been able to close the placement announced on 13th July 2006 because the market has traded below the placement price of AU $0.18.
The Company is undertaking a further financial review of its business in light of the recently reported financial performance for the June quarter.
The Company has also commenced negotiations with parties to recapitalise the Company subject to the appropriate approvals. The Company considers that it is prudent to suspend trading in its securities pending an announcement as to the outcome of such financial review and recapitalisation negotiations.

Recaps are very good for companies that are bullish about their prospects or wish to unlock capital value.
Solco are confident, even though their placement at 18 cents basically failed.
In this weaker position share holders are unlikely to benefit: http://www.altassets.net/knowledgebank/learningcurve/2006/nz9006.php

[StockExplorer]

Summary Announcement. Solco. Resignation of CEO

Date of Report: 15-Aug-2006

Solco Ltd (ASX: SOO): The Chief Executive Officer of Solco Dermot Patterson has resigned from Solco effective from 25thAugust 2006 to take up senior executive position in the health services industry where he has over 30years of international experience.

The directors acknowledged the important role that Mr. Patterson has played since joining Solco in early April in addressing operational and cost problems in the business.

The Company suspended trading in its securities on 7th August 2006 pending an announcement as to the outcome of a financial review and recapitalisation negotiations.

[StockExplorer]

Summary Announcement. Solco. Solco sign Agreement to Re-capitalise Company

Date of Report: 24-Aug-2006

Solco sign Agreement to Re-capitalise Company

On 22nd August 2006 the Company entered into a conditional Heads of Agreement with interests associated with non executive director, Mr. David Richardson to re-capitalise the Solco Group. Under the arrangement:

* Mr Richardson’s interests will procure for Solco to be provided up to $1.5 million in loan funds (on a secured basis) for immediate working capital requirements to alleviate Solco’s current financial pressures.

* The Company will be seeking shareholder approval to raise $1.5 million in equity by placing approximately 62 million shares or 43.5% of the diluted capital of Solco with interests associated with Mr. Richardson with the proceeds being applied to retire the $1.5 million loan in (i) above and otherwise for working capital purposes.

* Mr. Richardson will become the Managing Director of Solco effective from 28th August 2006 until 30 June 2007, with Mr Richardson’s remuneration to be reinvested in Solco equity representing a further 3.5% of the diluted capital base of Solco. Mr. Richardson has over thirty years of high level business experience. Most recently, Mr. Richardson was a senior executive with a large publicly listed engineering company.

* A shareholder rights issue by Solco is contemplated in the first half of 2007 to further recapitalise the Company for future growth business ventures. The present intention of Mr Richardson and his interests is to support such a rights issue to maintain their percentage holding in Solco. They have also undertaken to use their influence to seek to procure third party underwriting support for such capital raising.

The Heads of Agreement and associated transactions are conditional upon all requisite regulatory (ASIC and ASX) and shareholder approvals as well as completion of satisfactory due diligence by the Richardson interests on the Solco Group. The proposed timetable for the transactions is as follows:

- signing of formal documents (by 28 August 2006);

- issue of notice of shareholder meeting (by end of September 2006;

- shareholders’ meeting (by end of October 2006); and

- completion (by early November).

[noirua]

http://www.asx.com.au/asxpdf/20061002/pdf/3ysd3q7nz76fv.pdf


After glancing through the " Annual Financial Report " above, there appears to be a very dark cloud hanging over SOO. It becomes obvious why the CEO has departed and losses of nearly six million dollars looks, sadly, to be dire for shareholders.

The only hope is that some form of recapitalisation will be achieved, leaving shareholders with some interest in the company.

The Directors seem to have forgotten the number one important factor in managing a company, " THEY ARE THERE TO MAKE PROFITS ".

Good luck to everyone and especially Stockexplorer and friends in Germany who have an interest.

[noirua]

I have sadly seen this happen before and been in exactly the same position as shareholders of SOO. It is very difficult to just accept the investment error, not invest in a rights issue, and just walk away. The rights issue will be deeply discounted and draw in present investors who hope to get their money back.

Always hope your investment will come right in the end, even though it probably will not, and don't pour more good money after bad.

The new Directors will takeover and the old Directors will leave over time. The new board will have to pour a great deal of money into making this venture financially credible, and will end up owning over 50% of Solco. The name of the company may be changed, followed by a share consolidation.

[StockExplorer]

Shareholders in Europe (almost 100 shareholders with a total of approx. 4.7 million shares) intend to issue an open letter to Management and Board of SOLCO Ltd.
We request all SOLCO shareholders to participate and add questions, comments and suggestions to the text down below. Thank you for your co-operation.
For confidential messages email: StockExplorer@web.de


“On behalf of a number of European shareholders (see attached listing for details) we would like to express our gravest concerns about the recent recapitalisation plans as well as the lack of adherence to due process in terms of keeping shareholders informed about events that lead to the current financial crisis.

As a starting point we would like to note that SOLCO Ltd initially advertised its activities using words such as "ethical" and "sustainable", "service" and "results", which instilled trust and made shareholders believe, that SOLCO Ltd was worthwhile investing. Shareholders are concerned that, given the recent events, SOLCO Ltd is not fulfilling its promises implicitly contained in its company value statements as proclaimed on the web-site nor living up to its obligations towards shareholders.

In particular, the shareholders would point to the following shortcomings in terms of shareholder communication and commitment:

· SOLCO's share price was subject to a very substantial devaluation, experiencing a fall by more than 50 per cent since March 2006 with expectations of further share price erosion when trading will resume in mid-November this year;
· shareholders were not notified of significant and grave financial problems caused by warranty claims in the hot-water-solar branch and consequently were prevented from and unable to act appropriately;
· following investments in excess of AUS$3,5 million undertaken by the management for restructing purposes in 2006, no results have been made public nor have shareholders been informed about progress on such restructuring;
· shareholders are aware that the global SMS-licenses business is experiencing difficulties, however shareholders have not been officially notified by the SOLCO management;

In relation to the present recapitalisation proposal, shareholders are concerned that these restructuring activities will mainly benefit Mr. David Richardson and will exert enormous pressure onto shareholders.
· Firstly, shareholders will be subject to a very significant dilution in terms of share value and consequential loss of their invested money;
· if shareholder approval will be given, Mr. Richardson will own 47 % of SOLCO Ltd.(including his wages); and
· if shareholder approval is not given, Mr. Richardson will claim AUS$1,5 million from the company.
The above begs the question, what will become of SOLCO Ltd and shareholders are concerned that the future of SOLCO is at best dim and entirely uncertain in terms of reassurance of their investments."

[noirua]

Quite how all this fits in now to the fate of Solco, I'm not quite sure: http://www.solcosolar.co.za/index.htm

[StockExplorer]

SOLCO LTD important announcements:

Notice of Extraordinary General Meeting
Annual Report 2005/2006

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=SOO#headlines

any comments ?!

[noirua]

SOLCO LTD important announcements:

Notice of Extraordinary General Meeting
Annual Report 2005/2006

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=SOO#headlines

any comments ?!

Hi Stockexplorer et al, I have read the " Notice of Extraordinary General Meeting " and it does seem very strange that SOLCO fell from grace quite so quickly. Mr Richardson's interests had been selling shares during 2006 at high prices.

They say the asset value is 3.3 cents and they expect the company to trade at around that price, - don't forget to read paragraph 8.6 on page 34 - though Mr Richardson and his interests pick up shares at 2.475 cents and 2.75 cents, and they do not have to convert options until July 2007.

The " Genius Hot Water System " is expected to make further losses and requires upgrading. Solco have set aside $354,025 as warranty provision and they think this will have to be raised.

Unless the new Directors do something drastic the asset value will fall further. How they have worked out the asset value is a bit of a mystery, so it could be conservative - worse case scenario - at 3.3 cents. Analysts and the press may make further comments and you may be able to see a better picture in a months time, on the other hand you may not.

SOLCO are interesting to watch from hereon in and MAY prove to be cheap at 2.5 cents. Our Mr Richardson may well be a crafty old buzzard, that is, he is picking up stock at below asset value and the 3.3 cents could well be hiked in better circumstances.

The above is ONLY in " My Humble Opinion " and I have no interest in Solco Limited. The above is NOT a recommendation to buy, sell or hold SOLCO stock.

[StockExplorer]

received following from Australia:

...I attended the Solco EGM / AGM. All resolutions were passed, the company
should re-list in one - two weeks.

Here are some dot points I made from the presentation, which obviously was
all about addressing the issues the company has:
- reducing the cost base - since June 30, they have reduced the cost base by
$1.6 million.
- have addressed all major technical issues and management processes
(mentioned all management systems had broken down, which is true).
- most contractual issues with suppliers and dealers have been addressed
- Warranty issues: They had been receiving up to 30 calls per day, but many
were repeat calls, and a lot of them were plumbing issues only
- The Goal is profitability second half of 2007.
- They are removing low margin products, and / or improving the
manufacturability of products.
- They expect to be back in production of the Hot Water Systems by December.
- Have streamlined the assembly of the Sun Mill and are looking at other
products to complement it but have also lost the distribution of Lorenyz
pumps because of an issue with the Australian Lorentz distributor (which I
know in detail, and is a smart move).
- Choice continue to go well and are profitable.
- They have a grant for developing a polymer solar hot water "split system",
but wouldn’t give a timetable on when it will be ready as it needs to be
100% right
- They have a new business unit - Sustainable Global Business Solutions,
which is a consultancy business assisting new technology companies to
commercialise their products (and which can leverage off the existing Solco
distribution)
- The SMS business looks like selling again.
- The rights issue planned for next year is not for working capital, it is
for Future business.

All in all, my feeling is that there is more hard work to do, but the people
in there are the right ones to do it. Can it be done? Only time will tell....

[StockExplorer]

SOLCO share trading will resume on Monday 18.12.2006
(see latest ASX info) !

[noirua]

SOLCO share trading will resume on Monday 18.12.2006
(see latest ASX info) !

Good Luck, hope everything works out well for holders of Solco Ltd., and you get your money back in due course.

[noirua]

Solco have opened at a surprisingly high 9 cents a share this morning. NOT saying anyone should buy the stock at this price but may be worth watching over the next few months.

[noirua]

Moving down and trading at 7.8 cents as of posting. I expected them to open around 3.5 cents yesterday and they would be interesting at that level.

[noirua]

Solco shares continue their downward path at 6.5 cents today, surely, they will not achieve my guessed for 3.5 cents. A very worrying stock are SOO and this share price performance recently adds another question.

[Caliente]

yeah, this is embarassing. And with such a bright future for solar too. This company appears to be the dogs bollocks.

[StockExplorer]

SOLCO closed today (28122006) at 0.09 (plus 38%).

For those interested: the most read discussion thread in Germany:
http://www.wallstreet-online.de/dyn/community/thread.html?thread_id=973612&forum_id=23&mode=pages&m=5.1.1.2.23&thread_page=434

another thread:
http://www.ariva.de/board/249656?secu=305579

[clowboy]

lol

yea, care to translate all that?

[ric371]

This stock has hit my radar and I think you guys are missing the point by looking to much backwards.
The severe and necessary restructure of this company has occured, they are no longer loosing money, and the new MD is busy solving some of the warranty issues they had.
Solco has some great core products in a fast growing field by the time of the next AGM the balance sheet will be positive and 8cents a share will seem like a gift.
I for one am buying this one and looking foward to some excelent returns.
This may prove wrong but I can see mostly upside.
:)

[noirua]

This stock has hit my radar and I think you guys are missing the point by looking to much backwards.
The severe and necessary restructure of this company has occured, they are no longer loosing money, and the new MD is busy solving some of the warranty issues they had.
Solco has some great core products in a fast growing field by the time of the next AGM the balance sheet will be positive and 8cents a share will seem like a gift.
I for one am buying this one and looking foward to some excelent returns.
This may prove wrong but I can see mostly upside.
:)

Hi, We can hardly be blamed for looking back at past events, considering the dreadful performance of the shares, failings by Directors and problems with one of Solco's products.

Fair enough, Solco now have a lot more cash, thanks to Mr Richardson, but he obtained his large interest at under 3 cents a share and some of this money is not yet paid - due on options in July 2007.

Solco still have a lot to prove, and they, Solco, may well be worth around 3 cents a share and may be good value at that. The price today is 8 cents however - are they worth that much?

[constable]

Hi, We can hardly be blamed for looking back at past events, considering the dreadful performance of the shares, failings by Directors and problems with one of Solco's products.

Fair enough, Solco now have a lot more cash, thanks to Mr Richardson, but he obtained his large interest at under 3 cents a share and some of this money is not yet paid - due on options in July 2007.

Solco still have a lot to prove, and they, Solco, may well be worth around 3 cents a share and may be good value at that. The price today is 8 cents however - are they worth that much?
just read the entire thread and has been an amazing fall from grace, pity the german buyers didnt materialise.
im with you noirua its a far from convincing story and 8 cents would seem expensive without some proven credibility coming from the company.

[ric371]

Hi, We can hardly be blamed for looking back at past events, considering the dreadful performance of the shares, failings by Directors and problems with one of Solco's products.

Fair enough, Solco now have a lot more cash, thanks to Mr Richardson, but he obtained his large interest at under 3 cents a share and some of this money is not yet paid - due on options in July 2007.

Solco still have a lot to prove, and they, Solco, may well be worth around 3 cents a share and may be good value at that. The price today is 8 cents however - are they worth that much?

Show me a company that has not had a problem with directors, even the big Australian had a failing, not that Solco compares with BHP, however Solco now has a MD with a large stake in sucess, all be it at 3 cents it still repersents strong motivation from a persn with a good track record, it has a new focus and a lot of good products to build on.

Even the professional experts argue about the correct method of company valuation and no stock sells at that value anyway.
I thought technical analysis was about pre empting the psycology of the crowd, I think the crowd will look at Solco in the months to come and respond in a positive way.

Most of you guys are way ahead of me in interpreting charts so what about looking at what is happening now and commenting on the likley next move of this stock, the way i see it is that the current pattern is typical of a stock coming back from the wilderness and looking for a level which appears to be around 8 cents, assuming that mr Richardson can do the business any positive announcement will kick the stock up a notch
Look at the recient activities of BLT as an example of what might happen and you cant tell me that was worth a jump from 7 cents to 45cents on the basis of that announcement but it happened and will again.

I would like to see some comments from a chartists point of view without the emotional baggage from the past.
So how about it!!!!!!!!!!!!!!!! :

[constable]

I would like to see some comments from a chartists point of view without the emotional baggage from the past.
So how about it!!!!!!!!!!!!!!!! :
Ric I think unfortunatly that the credibility of a company does rely on past performance (baggage) and without credibility why would you park your money there?
Without money coming into the stock obviously its not going to move.
Speculators and investors need promise has soo got promise?
While im no chartist it would seem soo has yet to break out of its downward trend and i cant see any significant increase in volume.
Jumping on it imo would be very speculative (but at least your not buying at the top!) and perhaps need some further signs that it's breaking that trend.
If it and when it does you would think there would be some good upside coming off such lows.
I assume your holding , good luck!

[noirua]

Show me a company that has not had a problem with directors, even the big Australian had a failing, not that Solco compares with BHP, however Solco now has a MD with a large stake in sucess, all be it at 3 cents it still repersents strong motivation from a persn with a good track record, it has a new focus and a lot of good products to build on.

Even the professional experts argue about the correct method of company valuation and no stock sells at that value anyway.
I thought technical analysis was about pre empting the psycology of the crowd, I think the crowd will look at Solco in the months to come and respond in a positive way.

Most of you guys are way ahead of me in interpreting charts so what about looking at what is happening now and commenting on the likley next move of this stock, the way i see it is that the current pattern is typical of a stock coming back from the wilderness and looking for a level which appears to be around 8 cents, assuming that mr Richardson can do the business any positive announcement will kick the stock up a notch
Look at the recient activities of BLT as an example of what might happen and you cant tell me that was worth a jump from 7 cents to 45cents on the basis of that announcement but it happened and will again.

I would like to see some comments from a chartists point of view without the emotional baggage from the past.
So how about it!!!!!!!!!!!!!!!! :


Hi, The Solco chart is less than two months old, since the share has been reinstated, and the conclusions I might make about the downward trend of the share price and the possibility of revisiting the 6.2 cent low, are not yet that certain, we must wait and see.

Mr Richardson bought 61,818,181 shares for A$1,530,000, 2.475 cents a share. So far, so good, for Mr Richardson, with the shares trading at 8 cents.

What other shares do, isn't that relevant for this stock. The return to trading in Solco isn't typical of a stock returning; Infact the early trading at 15 cents was quite remarkable, considering the price that Mr Richardsons' interest, Samvara Pty bought in at.
That's where the concern is really, 2.475 cents excellent, but 8 cents...

6 monthly chart: http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=SOO&companyName=&principalActivity=&industryGroup=NO#chart

[constable]

Hi, The Solco chart is less than two months old, since the share has been reinstated, and the conclusions I might make about the downward trend of the share price and the possibility of revisiting the 6.2 cent low, are not yet that certain, we must wait and see.
...
Interesting point noirua, can you really start a fresh after a trading halt with chart analysis? Wipe the slate so to speak.

[StockExplorer]

Talked with SOLCO-Chairman Robin Forbes this morning.
A short summary: the SOLCO business is in a stable condition.
There is no more cash burning.
Robin Forbes: “It's really a bit like starting a new company. You certainly need to look ahead 5 to 10 years and plan accordingly.”
The company is negotiating with two potential new directors. Robin Forbes (70) will – as indicated – step back.

My opinion: the company is probably in a better situation than ever before.
But time will tell the truth.

Warren Buffet: "Patience is a virtue !"

[noirua]

Talked with SOLCO-Chairman Robin Forbes this morning.
A short summary: the SOLCO business is in a stable condition.
There is no more cash burning.
Robin Forbes: “It's really a bit like starting a new company. You certainly need to look ahead 5 to 10 years and plan accordingly.”
The company is negotiating with two potential new directors. Robin Forbes (70) will – as indicated – step back.

My opinion: the company is probably in a better situation than ever before.
But time will tell the truth.

Warren Buffet: "Patience is a virtue !"

Hi, Just a bit out of context "patience is a virtue". Warren Buffett was talking in terms of moral soundbites when he wrote:

"Good things come to those who wait. Better a tortoise than a hare. Don't be greedy. Avoid temptation. Patience is a virtue."

Time, of course, will always tell; but that does not guarantee success. The other major point, as mentioned before, is that Mr Richardsons' interests bought in at 2.475 cents and others at far greater prices. He will have a much greater chance of success, financially, than all the other investors in Solco.

[ric371]

Hi, Just a bit out of context "patience is a virtue". Warren Buffett was talking in terms of moral soundbites when he wrote:

"Good things come to those who wait. Better a tortoise than a hare. Don't be greedy. Avoid temptation. Patience is a virtue."

Time, of course, will always tell; but that does not guarantee success. The other major point, as mentioned before, is that Mr Richardsons' interests bought in at 2.475 cents and others at far greater prices. He will have a much greater chance of success, financially, than all the other investors in Solco.

The shares you mention at 2.475 cents are only a small portion of the shares owned by Richardson, so I do not think that this comment is relevant and is a little out of context.

Regardles of the cost of shares owned by Richardson the job is being done, the company is no longer burning money and is on track for improved performance in a growing market with strong products. I believe that the market will recognise that very soon and kick accordingly.
So I am holding and building my stake.

[StockExplorer]

just released:

SOLCO generated a positive operating cash flow for the 3 months of $0,37m ...... !

see ASX-news
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=SOO

[The Mint Man]

I have had my eye on this one for a while. I started watching when it was at about $0.22, watched it go down to $0.16, then way up to $0.43 and then of course all the way down to $0.06. However I think that they have done alot of late. They have droped a few non performing product lines (from memory, feel free to correct), tried to cut back unnecessary expenses and seem to have a much more sense of direction now. I was almost going to pick it in the last stock comp, might be a decent one to go this time.
I Believe that companys like this will do really well in the future.... but time will tell.
I think smurf is an energy expert, Smurf how do you see this companys long term outlook?

cheers

[StockExplorer]

SOLCO receipts from customers increased by 27% 2Q to $3,42m (1Q: $2,699m). If this continues, more than 100% gain within a year??
SOLCO generated a positive operating cash flow for the 3 months of $0,37m (1Q: $-1,359m)!
Stock has increased from 2.6m (1Q) to $2,7m (2Q) and positions SOLCO well for the early part of 2007.
All looks very promising.

UN Intergovernmental Panel on Climate Change (IPCC) issued its strongest warning ever that human activities are causing a damaging global warming likely to bring more heatwaves, droughts and rising seas.
To slow down global warming, Governments will be forced to act accordingly.
These activities should cause increasing demands for environmentally harmless, long lasting and high quality products and could boost SOLCO sales. Using SOLCO-products, greenhouse gas emissions could be reduced.

I compare the present situation with another little solar company 3S SWISS SOLAR. This company increased sales by 130% and is now making profit for the first time in it’s history. In October 2006 share price was below 2,90 Euro and is now above 4,10 Euro.

My opinion: similar should happen to SOLCO. We have seen the low and share price should rise from now on.

Disclaimer: I am neither an investment advisor nor do I offer investment advice. You should seek advice from your financial advisor before acting on ANY information you read on this site or sites of a similar nature. It is reminded that your investment decisions are made absolutely at your own risk.

[noirua]

The shares you mention at 2.475 cents are only a small portion of the shares owned by Richardson, so I do not think that this comment is relevant and is a little out of context.

Regardles of the cost of shares owned by Richardson the job is being done, the company is no longer burning money and is on track for improved performance in a growing market with strong products. I believe that the market will recognise that very soon and kick accordingly.
So I am holding and building my stake.

Hi rick371, I'm unsure as to whether there was a translation problem when you say " The shares you mention at 2.475 cents are only a small portion of the shares owned by Richardson...".

The shares bought by Mr Richardson at 2.475 cents represent 43.75% of the currently issued shares of Solco Ltd. They are not a small part of Mr Richardsons' interest; They are infact a very large part of that interest.

[noirua]

SOLCO receipts from customers increased by 27% 2Q to $3,42m (1Q: $2,699m). If this continues, more than 100% gain within a year??
SOLCO generated a positive operating cash flow for the 3 months of $0,37m (1Q: $-1,359m)!
Stock has increased from 2.6m (1Q) to $2,7m (2Q) and positions SOLCO well for the early part of 2007.
All looks very promising.

UN Intergovernmental Panel on Climate Change (IPCC) issued its strongest warning ever that human activities are causing a damaging global warming likely to bring more heatwaves, droughts and rising seas.
To slow down global warming, Governments will be forced to act accordingly.
These activities should cause increasing demands for environmentally harmless, long lasting and high quality products and could boost SOLCO sales. Using SOLCO-products, greenhouse gas emissions could be reduced.

I compare the present situation with another little solar company 3S SWISS SOLAR. This company increased sales by 130% and is now making profit for the first time in it’s history. In October 2006 share price was below 2,90 Euro and is now above 4,10 Euro.

My opinion: similar should happen to SOLCO. We have seen the low and share price should rise from now on.

Disclaimer: I am neither an investment advisor nor do I offer investment advice. You should seek advice from your financial advisor before acting on ANY information you read on this site or sites of a similar nature. It is reminded that your investment decisions are made absolutely at your own risk.

Hi Stockexplorer, Unfortunately, an increasing part of polution is produced by Developing and Emerging Nations. The only small plus is, that as temperatures rise, less polution is produced by heating of homes in winter.

UK Supermarkets are now reducing packaging and will now sell more fruit and vegetables with no packaging.

Another thought, perhaps most of the Airports in the world should be closed as that is the worlds most dangerous polluter at the moment. I work at home, do not travel by Aircraft and my car is a gas conversion. How about you?

Solco shares have been falling and at 7.2 cents are at a disastrous low point. No sign of any recovery at the moment.

[StockExplorer]

Hi Noirua, to be honest, I’m using a relatively big car (10 - 12 ltrs/100km), but drive less than 6.000 km per year.
I agree, air traffic is a huge polluter at the moment and it is not acceptable to fly across Europe for less than 30,- Euro (if you get one of those rare tickets) and furthermore, why is no tax on Kerosene ?

For more than 10 years I’m using a hot water solar system, which works very well. Even in Germany HWS can be used in 8 from 12 months.
The sun sends no bill !
I hope, the new SOLCO polymer hot water solar "split system" will be soon on the market.
Don’t forget, SOLCO has an extended distribution network and is therefore closed to the customer.

In spite of all the trouble in the past, I am now confident about the future of SOLCO.

[ric371]

Hi Stockexplorer, Unfortunately, an increasing part of polution is produced by Developing and Emerging Nations. The only small plus is, that as temperatures rise, less polution is produced by heating of homes in winter.

UK Supermarkets are now reducing packaging and will now sell more fruit and vegetables with no packaging.

Another thought, perhaps most of the Airports in the world should be closed as that is the worlds most dangerous polluter at the moment. I work at home, do not travel by Aircraft and my car is a gas conversion. How about you?

Solco shares have been falling and at 7.2 cents are at a disastrous low point. No sign of any recovery at the moment.

They appear to me to have been on an incline for the last 2 weeks and may well break 8c again , the news from mangment is positive

closed at 7.7 today and buyers outnumber sellers

Have they turned the corner or am I an incurable optomist??

[noirua]

They appear to me to have been on an incline for the last 2 weeks and may well break 8c again , the news from mangment is positive

closed at 7.7 today and buyers outnumber sellers

Have they turned the corner or am I an incurable optomist??

Hi, There were only 6 trades on the ASX on Friday, all in the first 90 minutes, for 176,891 shares. All the trades went through at 7.7 cents and bid/offer remained at 7.7c/7.8c all day. The last three trades looked like one buyer.

Australia operates a true bid/offer system, only one price, with no market makers. So it's difficult to see buyers and sellers in the same light as Germany.

Solco are probably pointing in the right direction now. It's all about making profits and not losses. By this time next year you will be a lot happier about the company, however, the share price is an entirely different matter.

[ric371]

Hi, There were only 6 trades on the ASX on Friday, all in the first 90 minutes, for 176,891 shares. All the trades went through at 7.7 cents and bid/offer remained at 7.7c/7.8c all day. The last three trades looked like one buyer.

Australia operates a true bid/offer system, only one price, with no market makers. So it's difficult to see buyers and sellers in the same light as Germany.

Solco are probably pointing in the right direction now. It's all about making profits and not losses. By this time next year you will be a lot happier about the company, however, the share price is an entirely different matter.
And to 9c this morning on a similar volume to Friday
Now 10cents on 2 trades of nearly 100,000
Someone knows something we dont??

[StockExplorer]

Now released:

SOLCO Half Year Report (- 31.12.2006)

http://www.solco.com.au/investors/announcements/half_year_31_december_2006_financials

[ric371]

I think it is worth noting how well Solco weathered the correction.
with the number of "expert" posts in this thread back a month or two ago that claimed that they were overvalued at anything over 2 cents

[StockExplorer]

Solco Ltd Settles Two Contractual Issues
16.03.2007

Solco Ltd (ASX: SOO): Solco Limited has signed agreements to settle two matters previously highlighted as actual and contingent liabilities in its accounts.

Acquisition of Solco Industries

In August 2004, Solco (formerly SES Limited) acquired Solco Industries Pty Ltd and Poly Tuff Pty Ltd. Initial consideration was paid in the form of shares in Solco. There were additional payments potentially due under a Net Proceeds calculation for each sale of an SMS license up until 30th June 2006 as defined in the Sale Agreement.

In late June 2006, an interim settlement was reached for payments due under the sale of the Malta license which was to form the basis for subsequent payments for the Malaysia, Tunisia and Ghana transactions which were being progressed but have yet to be completed. Solco has now reached a final settlement on these transactions with the previous owners of Solco Industries Pty Ltd. The full and final settlement involves the re-payment of funds loaned to Solco under a convertible note of $200k and additional payments of $168k by 30th May 2007.

Possible Legal Action

The inventor of the original Sun Mill pump that Solco sells submitted a claim against Solco when it operated as Solar Energy Systems Pty Ltd (SES). The matter has now been settled at no significant cost or future liability to the Company.



For further information, contact Mr. David Richardson on +61 8 9334 8102 or Mr. John Beech 0400 10 3675

http://www.solco.com.au/investors/announcements/solco_ltd_settles_two_contractual_issues

[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.

[noirua]

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.


Interesting, I hope it all works out well.

[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, and will report to the market and its shareholders as these plans are finalised.

It is foreshadowed that in addition to organic growth, this pathway will include strategic acquisitions of complementary businesses in target sectors to assist Solco in achieving the economies of scale and scope necessary for it to drive shareholder value as a public listed corporation.

To allow the Board to respond quickly to strategic acquisition opportunities as they may arise, at the proposed June EGM, approval will also be sought from shareholders to authorise the Board to issue up to 35% of Solco's share capital base for such purposes.

The new Board has great confidence in the future prospects of Solco as displayed by their commitment to the Company including personal financial investment.


Indicative Timetable

An indicative timetable for the capital raising and EGM is set out below (subject to fine tuning):
- mid/late May : prepare and dispatch notice of EGM
- early June : lodge prospectus with ASIC/ASX
- mid June : Record Date for rights and dispatch of rights issue offer to shareholders
- mid/late June : hold EGM and complete share placement
- early July : close rights issue offer
- mid July : issue securities under rights issue


Solco will keep the market progressively informed of material developments as and when they may arise. For further information, contact John Beech 0400 103 675.

[noirua]

Looks mildly upbeat, but the right issue and placement at 7 cents may hold the price back for a while. Will foreigners who are not registered as living in Australia be included in the rights issue, as it is quite expensive to include them these days?

I remain a little concerned as far as the present price of 9 cents is concerned. Matters have moved on and risk factors have reduced markedly, however, not enough to treble the value compared with Mr Richardson and his interests buy-in price, because profits are not yet being banked.

[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/quarterly_updates/appendix_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/200705/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

[chops_a_must]

Nice!

Are there any other companies that anyone knows of that are involved in the actual installation of solar systems?

[SIIVS]

SOO is at 0.165 at the moment, what is the expectation growth in price or a slump? is it worth buying now as the govt has planns for cleaner energy?

[Taurisk]

Nice!

Are there any other companies that anyone knows of that are involved in the actual installation of solar systems?

Hi Chops
I rang Solco about pricing a unit for my home and had a long discussion with very helpful staff, who also told me they had been fielding a lot of calls for the last two days. We got to talking about sliver cells (the latest in solar cells) and the salesman said that Origin were working on this, but he didn't know how they were progressing; and he was going to check up.
(Origin also pay dividends BTW).

I bought a small holding in both, SOO and ORG; both are up atm.

Taurisk

[noirua]

Solco seems to be drifting and closed at 10.5 cents after an enouraging price lift a few months ago.
I was always doubtful of the price rise that was many times the cash raising placing price.
The efforts of the directors have led to the enthusiasm that appears to have been overdone.
Would not be surprised to see the stock drift further.

[noirua]

Solco have announced a deeply discounted 1:4 rights issue at 7 cents a share. The stock may well come under pressure and may try to test the 7 cent level. This often happens, as was seen in the case of UXA.

[StockExplorer]

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
www.solco.com.au/investors/announcements/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:

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:

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 this case, the Australian domiciled nominee companies will receive a prospectus and an application
form from Solco. Generally they will promptly forward all the details to the foreign based nominee or
intermediary acting on behalf of a foreign shareholder to enable them to consider or further process
such an offer. These foreign based entities may or may not forward the information in a timely manner
to the beneficial owner of the shares to enable them to provide the necessary instruction back through
the chain the Australian domiciled nominee company.

You may wish to contact your nominee company or intermediary through whom you deal to get them
to obtain details of the offer from the Australian domiciled nominee company in whose name your
shares are registered in Australia. Once you have the offer through the appropriate channels you will
be able give your instructions as to how you wish them to deal with the offer to participate in that
rights issue outlined in the prospectus.

The largest of the Australian domiciled nominee companies holding Solco shares on behalf of foreign
shareholders is ANZ Nominees. You may wish to contact Jeremy Duggan who is Announcements
Manager with ANZ Nominees in Melbourne , Australia to ascertain whether the foreign intermediary
through which you deal has been sent a prospectus and application form. Mr. Duggan’s contact
details are jeremy.duggan@ANZ.com and his phone number is 03 9273 6466.
I trust this information will assist you to be able to participate or otherwise obtain benefit from the
rights issue by the Company. We thank you for your support.

Yours faithfully,
John Beech
Company Secretary

[noirua]

SOO are firmly under pressure as markets decline. Trading at 9 cents this morning it may well be a wait and see situation on the rights issue. Looking determined to test 7 cents and may well drop to 6 cents shortly, imho.

[noirua]

SOO are firmly under pressure as markets decline. Trading at 9 cents this morning it may well be a wait and see situation on the rights issue. Looking determined to test 7 cents and may well drop to 6 cents shortly, imho.

Down to 7.2 cents. Just before I comment on my clever forecasting it is fair to say that the "Great Slide" in markets made this happen. The company appears quite well set for the future, even so, it's 6 cents very soon, IMHO.

[StockExplorer]

ASX notice 30.08.2007:

Preliminary Final Report

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=SOO#headlines

[BIG BWACULL]

Down to 7.2 cents. Just before I comment on my clever forecasting it is fair to say that the "Great Slide" in markets made this happen. The company appears quite well set for the future, even so, it's 6 cents very soon, IMHO.
Great slide yes, 6cents yes, after that report (Thanks Stock explorer) Looks Like a Slippery dip :eek: Well from the first page any way :eek:
Is there light at the end of the tunnel :confused: :banghead:

[noirua]

Great slide yes, 6cents yes, after that report (Thanks Stock explorer) Looks Like a Slippery dip :eek: Well from the first page any way :eek:
Is there light at the end of the tunnel :confused: :banghead:


There is a light at the end of the tunnel but, is this light, we see, a "Gorilla with a flash light"?

[StockExplorer]

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/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=Soo#headlines

[StockExplorer]

ASX Announcement :

21/11/2007 New CEO and Restructured Board

http://asx.com.au/asx/statistics/announcementSearch.do?method=searchByCode&issuerCode=SOO&timeFrameSearchType=Y&year=2007

[StockExplorer]

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

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

[noirua]

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

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


Hi StockExplorer et al, I hope Mr Rudd & Co give Solar Systems a lot of financial help and that means substantially subsidizing the whole industry.
However, it is more a case of a rush to sell coal and iron ore from new mines and expand ports over the next 7 years.
Much of the revenue, 20 cents a tonne on coal, goes to develop UCC mines etc.,
Not much likelyhood of a big about turn here and that's taking a 25 year view on it.

This industry is one to go for, exactly when, I'm not quite sure - Good Luck

[noirua]

It's been, all quiet on the western front as far as Solco has been concerned since the November 2007 A.G.M.
The shares have slumped to just 7 cents and no news at all.
That purchase of 45% of SOO, by David Richardson, at just 2.7 cents a share, still galls and the market in the stock is very quiet.
Has the new CEO and restructured Board done anything since hailing themselves as the new coming last year?

[Taurisk]

It's been, all quiet on the western front as far as Solco has been concerned since the November 2007 A.G.M.
The shares have slumped to just 7 cents and no news at all.
That purchase of 45% of SOO, by David Richardson, at just 2.7 cents a share, still galls and the market in the stock is very quiet.
Has the new CEO and restructured Board done anything since hailing themselves as the new coming last year?

Hi
One of my pet gripes - why on earth do we here in sunny Australia not throw everything into the solar basket???
What with the new technology of sliver cells around and all sorts of innovations in the field, you still only get the large solar panels, which are expensive (even though there is a good Government grant) ugly and according to a number of electricians I spoke to, don't last.
I held SOO at one stage but was disgusted with nothing happening on that front. Then went to a solar store here in Perth, they seemed to be busy but it was a very small outfit - when I asked about sliver cells they told me to ring ORIGIN, which I did, but knew nothing about it.

You can't even get a decent array of solar garden lights for a reasonable price. Or is the public so apathetic, they don't know or ask for new technology? At least our domestic electricity supply should be supplemented by solar. Any suggestions?

Cheers

Taurisk

[noirua]

Hi Taurisk, Australia may be waiting until all the coal and oil has gone before they take solar energy seriously. It's taken more seriously in Germany and the U.K. and the sun is a rarer component out there.

I believe they are building some large wind farms near Whyalla, SA. It seems the mining companies are leading the financing charge on wind farms.

[noirua]

All the German investors in Solco seem to have disappeared. Even though they are undoubtably the experts on this stock.
Back to 7 cents, the price of last years rights issue, the company seems to have become bogged down.
Has that 2.7 cent purchase to bail out SOO come back to drag this stock down and haunt it?

[noirua]

Solco have declined further and have closed at just 5 cents with the companies supporters abandoning this thread after previous confident views. Negative cashflow of $2.484 million in the last 9 months does not seem good whilst the company is confident about trading ahead.
2.7 cents was Mr Richardson's buy price for the stock, and the trading price moves down closer.

[Aussiejeff]

Solco have declined further and have closed at just 5 cents with the companies supporters abandoning this thread after previous confident views. Negative cashflow of $2.484 million in the last 9 months does not seem good whilst the company is confident about trading ahead.
2.7 cents was Mr Richardson's buy price for the stock, and the trading price moves down closer.

This plunge in SP is hardly surprising, given the Fed Government has effectively slashed community interest in Solar Voltaic installations (and put the viability of suppliers into question) by significantly reducing the rebate threshold to households with total income under $100,000 in the recent Budget.

Unless those bumbling Federal Idiots change their policy quick-smart, then one would expect ALL solar voltaic suppliers are probably going to suffer significant downturns in business for an unknown period of time.

[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/diskussion/973612-5981-5990/solar-energy-solco-ltd-aus-australien

[StockExplorer]

Appendix 4E and Annual Report
http://www.asx.com.au/asxpdf/20080829/pdf/31c19lgzwr95f2.pdf

extract :

Revenues from ordinary activities up 63% to 16,829,930 AUD

Profit from ordinary activities after tax attributable up 105% to 119,405 AUD

Net profit for the period attributable to members up 105% to 119,405 AUD

[StockExplorer]

SOLCO LIMITED (ASX : SOO)
ABN 27 084 656 691

Re: Continued Profit Growth to 31 December 2008

Solco announces the following un-audited financial key performance indicator outcomes for its
operations for the 6 months to 31 December 2008 with comparator performance for the 2 prior
periods:
Relevant Key Performance Indicator 6 month period
01/07/08 to 31/12/08 (Note 1) 01/01/08 to 30/06/08 (Note 2) 01/07/07 to 31/12/07 (Note 3)
Revenue 11,433,020 9,543,637 6,965,755
EBITDA 501,173 392,529 (210,111)
EBIT 477,840 359,735 (240,330)
NP 477,840 359,735 (240,330)
Note 1: Un-audited, Note 2: Audited, Note 3: Reviewed

Despite the global economic downturn, demand for photovoltaic (PV) energy products remains strong,
underpinned by indicated continuing government support for clean energy solutions to assist in
reducing greenhouse gas emissions.
Over the last 6 month period Solco has continued to focus on its core wholesale distribution operations
(Choice Electric) as well as to continue to rationalise non core business lines.
Further, to lend additional strength over forthcoming months to assuring timely execution of the
Company’s strategies, Mr David Richardson has accepted the role of “Director with responsibility for
operational and management development”.
“These are testing economic times for many companies, and despite Solco’s continuing demonstrated
growth and profitability, David’s depth of relevant experience, and more active engagement with the
executive team, will assure Solco is well positioned to continue to drive shareholder value” said Steven
Cole, Solco’s Chairman.
Mark Norman, Solco’s CEO, said “Having worked closely with David in the past, I look forward to both
his leadership and his support as we together tackle the opportunities and issues presenting to the
Solco group.”
____________________
Darren Crawte
Company Secretary
29 January 2009

http://www.solco.com.au/pdf/solco_asx_29_01_2009.pdf

[StockExplorer]

ASX ANNOUNCEMENT 29.04.2009

SOLCO LIMITED (ASX : SOO)
ABN 27 084 656 691

Re: Solar Photovoltaic sales continue to drive growth

Strong Photovoltaic (PV) System demand resulted in sales to customers of $7.89 million during the 3rd
quarter driving total sales for the fiscal year to date of $19.33 million, a 73% uplift on the comparable
period last fiscal year.
Solco’s continued focus on its core wholesale distribution operations (Choice Electric) as well as
continuing to rationalise non-core business lines has been instrumental in profitable growth and
positive net operating cash flows of $1.04 million for the quarter.
Inventory levels of $4.82 million and cash at bank of $3.47 million allow Solco to continue to provide
and purchase in-demand products to service the needs of our customers within the growth driven
market sector of renewable energy.
Trading conditions, EBIT margin levels and product appeal to Australian consumers were assisted by:
• continuing discounting of international pricing in foreign currency terms for silicon based PV
panels due to reduced European demand;
• modest improvement of AUD$ against other currencies over the quarter, although Solco
operates on a fully hedged basis for major international purchases;
• and government sponsored renewable energy rebate initiatives.
The attractiveness of domestic and commercial solar power installations across Australia will continue
to be enhanced if PV panel prices continue to fall and black energy costs rise further. This situation
may lead to increased competition in the Australian green energy market from new domestic and
overseas entrants, especially in light of current difficulties in other sectors and markets. We believe
Solco is well positioned within the Australian market to take advantage of this expected growth and
combat competitive challenges.
With fallout from the world economic crisis continuing and cohesive long-term government energy
polices across all states yet to be delivered, performance growth can not be assured. However,
Solco’s forward order book and continued projected customer demand continues to be strong.
______________________
Darren Crawte
Company Secretary
29 April 2009

http://www.asx.com.au/asxpdf/20090429/pdf/31h9d0njnxybc0.pdf

[StockExplorer]

July 28, 2009

Canberra, Australia: Astronergy and Solco Start Marketing Thin Film Modules

Astronergy, a Chint company, and Solco Ltd are combining to bring Astronergy’s range of high quality panels to Australia. This includes Astronergy’s second-generation amorphous / microcrystalline silicon tandem thin film PV (a-Si/µc-Si) modules.

Astronergy has invested US$150 million into solar panel production, both crystalline silicon and thin film. The first 30 MW production of the tandem thin film solar modules will reach full capacity in Q4 this year, while crystalline silicon panels have been in production since 2006. Astronergy’s thin film conversion efficiency has reached 9% currently, and the goal is to achieve 10% conversion efficiency in the near future.

“Whether in terms of technology or in terms of scale, Astronergy is leading the market for high-end thin-film PV modules,” said Dr. Liyou Yang, who is the President and CEO of Astronergy.

Yang spent 20 years in thin-film R&D, including an earlier role at BP Solar. He holds 18 patents in the field.

Launching this collaboration at the Australian industry’s annual ATRAA conference in Canberra, Mark Norman Solco’s CEO and Managing Director said “The collaboration between Astronergy and Solco Ltd’s subsidiary Solco Choice Electric will bring a quality and competitively-priced range of modules onto the Australia market. I am personally convinced that the Astronergy manufacturing process for the traditional crystalline modules is one of the best that I have seen anywhere in the world, and the new thin film product opens up many opportunities for large scale deployment across commercial and industrial rooves and facades.”

Source:
http://www.solarbuzz.com/news/NewsASMA245.htm

[StockExplorer]

a new SOLCO / Choice Electric Web Site is available !
Have a look :

Choice Electric Co.

Welcome

Choice Electric Co. is a dynamic solar power wholesale company with over 20 years experience in solar energy equipment. Warehousing facilities on both the East and West coast of Australia support a distribution network that spans the country and extends into the Asia-Pacific region. We are proud of our products and our ongoing commitment to reliability and one-call technical assistance.

We have strong relationships with our many suppliers, as well as with local and state governments, and their representative organisations. This allows us to offer the comprehensive sales knowledge and technical support to back-up the long-term management of systems and installations.

Recently, we have been heavily involved in providing solar systems for schools across the country. To date we have installed over 75 of these systems throughout Western Australia and Queensland, including the remote Torres Strait Islands, and there are more in the pipeline for the future.

http://www.choiceelectric.com.au/index.php

[StockExplorer]

Solco Ltd (ASX: SOO)
ABN 27 084 656 691

Record Profit and Maiden Dividend
Solco continues its corporate and business turnaround to post a record profit of $1.79 million for the fiscal
year 2008/2009 and deliver a maiden unfranked dividend of 0.25 cents per share. The dividend is expected
to be paid on 30 September 2009 for registered shareholders as of 2nd September 2009

http://www.asx.com.au/asxpdf/20090825/pdf/31k8xhrl96ffjm.pdf

----

Appendix 4E and Annual Financial Report

Revenues from ordinary activities up 68% to $27,779,135
Profit/ (loss) from ordinary activities after tax attributable to members
up 1400% to $1,791,012
Net profit (loss) for the period attributable to members
up 1400% to $1,791,012

The complete report :
http://www.asx.com.au/asxpdf/20090825/pdf/31k8xc69mxvv20.pdf

[michael_selway]

Solco Ltd (ASX: SOO)
ABN 27 084 656 691

Record Profit and Maiden Dividend
Solco continues its corporate and business turnaround to post a record profit of $1.79 million for the fiscal
year 2008/2009 and deliver a maiden unfranked dividend of 0.25 cents per share. The dividend is expected
to be paid on 30 September 2009 for registered shareholders as of 2nd September 2009

http://www.asx.com.au/asxpdf/20090825/pdf/31k8xhrl96ffjm.pdf

----

Appendix 4E and Annual Financial Report

Revenues from ordinary activities up 68% to $27,779,135
Profit/ (loss) from ordinary activities after tax attributable to members
up 1400% to $1,791,012
Net profit (loss) for the period attributable to members
up 1400% to $1,791,012

The complete report :
http://www.asx.com.au/asxpdf/20090825/pdf/31k8xc69mxvv20.pdf

Hey not bad

Solco Ltd (SOO, formerly Solar Energy Systems Limited) engaged in the wholesale and distribution of solar power and pumping solutions through a combination of imported and locally-sourced products. The company also develops and manages several infrastructure projects in Australia and overseas.

http://******************/images/stockpricecharts/600_420/2186.jpg

Thanks

MS

[StockExplorer]

from "Trading Markets" :

Hunt for bargains

Sep 15, 2009 (The Australian - ABIX via COMTEX) -- AUSTF | Quote | Chart | News | PowerRating --
Australian investors in the stock market are advised to not rely on measurements such as price-to-earnings ratio as an indicator of true value. This is especially true during the global financial crisis and the recent recovery of share prices.
Among the recommendations of experts are Qmastor, NetComm, Solco, Austin Engineering, and Thorn Group.

Publication Date: 16 September 2009

STANDARD AND POOR'S ASX 200 INDEX
STANDARD AND POOR'S ASX 300 INDEX
CITIGROUP PTY LTD
PAPERLINX LIMITED - ASX PPX
ELDERS LIMITED - ASX ELD
FAIRFAX MEDIA LIMITED - ASX FXJ
AUSTEREO GROUP LIMITED - ASX AEO
PACIFIC BRANDS LIMITED - ASX PBG
SUNCORP-METWAY LIMITED - ASX SUN
ONESTEEL LIMITED - ASX OST
BLUESCOPE STEEL LIMITED - ASX BSL
QANTAS AIRWAYS LIMITED - ASX QAN
TOWER LIMITED - ASX TWR
CHALLENGER FINANCIAL SERVICES GROUP LIMITED - ASX CGF
TABCORP HOLDINGS LIMITED - ASX TAH
TATTS GROUP LIMITED - ASX TTS
TELSTRA CORPORATION LIMITED - ASX TLS
TELECOM CORPORATION OF NEW ZEALAND LIMITED - ASX TEL
PREMIER INVESTMENTS LIMITED - ASX PMV
GOODMAN FIELDER LIMITED - ASX GFF
WESTFIELD GROUP - ASX WDC
QMASTOR LIMITED - ASX QML
NETCOMM LIMITED - ASX NTC
SOLCO LIMITED - ASX SOO
AUSTIN ENGINEERING LIMITED - ASX ANG
THORN GROUP LIMITED - ASX TGA
WISE OWL AUSTRALIA PTY LTD
SILVER LAKE RESOURCES LIMITED - ASX SLR
ANDEAN RESOURCES LIMITED - ASX AND
HIGHLANDS PACIFIC LIMITED - ASX HIG
TFS CORPORATION LIMITED - ASX TFC
CASH CONVERTERS INTERNATIONAL - ASX CCV

http://www.tradingmarkets.com/.site/news/Stock%20News/2529167/

[moXJO]

Whats with the jump in price. Just noticed it hit a high of .13 today. People finally taking a shine to this stock?

[skc]

Very nice breakout in the last 2 days on relatively high volume (although still a very thinly traded stock). Now sitting on 2 year high. Hopefully it can consolidate at this level over the next few weeks.

Tiny market cap at $30m with 200m shares outstanding. Net profit $1.8m so an honest PE of 16.7. But the growth potential is there in the quarterly sales figures.

Jun 07 - $2.7m
Sep 07 - $2.9m
Dec 07 - $4.1m
Mar 08 - $3.8m
Jun 08 - $5.5m
Sep 08 - $4.5m
Dec 08 - $7.4m
Mar 09 - $7.9m
Jun 09 - $9.4m

That's 16% compound growth per quarter, through winter and the GFC (Sep 08 was a down quarter) no less! The momentum is amazing. The next quarterly report due out by end of the month. A confirmation of the trend may provide the next leg up.

If FY10 sales reach $35-40m, and using the current net profit margin of 6.4%, NPAT = $2.2 to $2.6m, which puts the forward PE at 13.6 to 11.7. Alternately, a PE of 16 next year will imply a share price target of ~19c, or ~16.5c in today's dollar (discounting at 15%). So current share price is not that big a bargin.

However, further upside will come from greater sales - $50m is not too big a stretch from recent trend - and margin expansion (to ~7%) due to higher $A, cheaper China sourcing and better spread on fixed overheads. These will push NPAT up to ~$3.5m and a high side share price target of 24c.

Supporting the increaed sales is the new feed in tariff arrangements in Vic (starting next month) and NSW (Jan 2010). The words will spread and should boost sales in these two states.

[donkeykong]

The annual report is released tomorrow, will be interesting to see how it goes and whether it breaks above $0.15.

[skc]

SOLCO released their quarterly sales today.


Solco has continued to generate strong sales of $7.38m for the first quarter, showing a 50% increase when compared to the comparative quarter last financial year (although a decrease of 13% to the 30 June 2009 quarter due largely to government delays in releasing the remaining 50,000 pre-approvals for the now finished Solar Homes and Communities Plan's (SHCP) rebate program).

A bit less than I was hoping for but the market didn't bat an eyelid. Sept seems to be a low quarter for some reason historically. Still on track to generate sales of $35m for the year and support current valuation.

A bit worrying that operating cash flow was negative at -$900K, although the company said it was due to reduction in trade creditors. Otherwise the cashflow would be +$700K. Cash at bank is $3.6m so that seems plenty.

[skc]

SOO announcement made on 22 Dec said, for 6m to end of 2009, the turnover guidance is $14.5-15.5m, while NPAT is $1.5-1.7m.

The revenue figures are pretty pedestrian. First quarter sales was $7.4m, so they had a flat Q2 with sales ~$7 to 8m. The Q2 figure was similar to Dec 08 numbers ($7.8m), indicating sales growth is probably rounding out.

The NPAT number however was quite high, considering that FY08-09 the 12 month NPAT was only $1.8m. It will be interesting to see the details of the latest half year profit and see if it contains any one-offs or brought-forward income.

If there are no surprises, full year NPAT of $2.5m should be easily achieved, while $3m is not out of the question. With PE ~12 gives a valuation of ~15 to 18c.

On the technical the chart just looks like a nice little flag with pretty low volume for the last 3 months, and 11c should hold up well base on the above fundamentals.

[skc]

Positive quarterly report from SOO. Shares jumped 25% as a result.

Sales in quarter ~$8.5m, but most importantly the free cash flow of almost $3m in the quarter. Compare to -$0.9m in Q1... seems like their cash flow a bit lumpy.

They now have $6m in the bank... should be an interim dividend coming. Half a cent will only cost $1m. Still leaving them with plenty to operate their business.

All earlier analysis remain valid... still eyeing 15c+

[StockExplorer]

May 31, 2010
As a result of close collaboration, Solco and SolarEdge today announced a joint partnership agreement for the supply of a distributed power harvesting solution that will maximize power generation throughout a solar photovoltaic system’s lifecycle, while dramatically reducing complexities and costs.

“Solco welcomes this strategic agreement with Solaredge, who has proven to be a reliable and committed partner,” said Mark Norman, CEO and Managing Director of Solco Ltd. “Our partnership reflects the intensive quest by both companies to create highly efficient and cost-effective PV systems. The combination of SolarEdge technology and Solco’s technical expertise will significantly enhance the energy output of solar power systems installed in Australia. We expect customer response to be immediate, demonstrating the viability and effectiveness of this collaboration, and the abilities of this new solution.”

The SolarEdge power harvesting solution includes PowerBoxes, which are PV module-integrated power optimizers, solar PV inverter, and solar monitoring software. This unique end-to-end solution enables production of up to 25% more energy from the PV installation, while reducing costs and complexities. The SolarEdge system offers significant improvements over existing solutions, especially in optimizing power output from each module, regardless of adjacent module performance. The SolarEdge solution allows installers and system owners of all system types to benefit from constraint-free design, real-time module-level monitoring, improved maintenance at reduced cost, optimal site-area utilisation, theft prevention mechanisms, enhanced safety and extraordinary reliability, which all contribute to faster return on investment.

http://www.solaredge.com/articles/solaredge_solco_20100602

[noirua]

SOO deserve to succeed in this genuine green sector and should get a lot more help from Rudd & Co. I would like to see the stock nearer 20c but markets are seeing red in the United States and I doubt SOO can resist this downward trend.
There are stronger companies in somewhat greener sectors who may well see the merits of the company.
Best of good fortune StockExplorer and others invested in Solco Limited - you deserve it.

[skc]

New profit guidance on track for profit before tax $3.15m... wouldn't surprise me if they don't need to pay tax from all the accumulated losses, so my earlier estimates turned out to be quite reasonable.

Revenue was $35m - so quarterly turnover of $7-8m is about where they stall.


If there are no surprises, full year NPAT of $2.5m should be easily achieved, while $3m is not out of the question. With PE ~12 gives a valuation of ~15 to 18c.

What is uncertain is what PE the market would like to prescribe for this stock, given the current market conditions.

With 200m shares on issue, EPS is 1.575c. PE 10 gives 15c. Today's jump to 9.8c still only price this stock on PE of 6.2. If the directors were to declare a dividend (say 0.5c or 1/3 of earnings) that might boost the share price somewhat...

[StockExplorer]

Astronergy Enters Into Exclusive Agreement With Solco Ltd.
08/02/2010

Leading Chinese solar company, Astronergy (also known as Chint Solar), has today announced an exclusive agreement with Solco Ltd., headquartered in Perth, Western Australia. Solco will be the exclusive distributor of Astronergy solar modules for Australia, New Zealand, Papua New Guinea, Nauru, and other Oceania nations, and Astronergy will be the premier Chinese module supplier to the Australian company.

Solco will distribute Astronergy's entire line of solar products, including monocrystalline solar PV, polycrystalline solar PV, and high-efficiency thin film PV. The high quality modules will be used across the complete range of solar applications including PV systems for residences, government and schools as well as larger scale projects.

Increased demand in South West Pacific market and the addition of more sales channels in the region has already made its impact on the companies’ joint effort. It is expected that this year’s shipment volume will be double the original amount outlined in the contract.

Founded in 1989 and listed on the Australian Stock Exchange with offices and distribution centers across Australia, Solco is a well established and rapidly expanding solar systems design, supply and installation service company.

"With our quality panels reaching more customers in the Oceania Region through the trusted solar systems provider Solco, we will have greater access to the developing Oceania market," said Astronergy CEO Dr. Liyou Yang. "This is a win-win situation for both companies."

"We expect that Solco will be able to achieve even greater successes in local markets. Astronergy will work hard to foster long-term cooperation with Solco," noted Chief Sales and Marketing Officer, Mr. Alan Yuan.

Solco's Chief Executive Officer, Mark Norman, believes the partnership with Astronergy will be the cornerstone in securing a reliable supply of quality solar panels for its customers throughout Oceania.

"This agreement with Astronergy will allow us unique access to a growing supply of products from China which will undoubtedly enhance our operations and future development opportunities. We firmly believe this is the opening phase of our strong and expanding relationship with Astronergy and its global parent, the Chint Group."

"Astronergy products consistently achieve an excellent level of quality and performance," said Solco CEO Mark Norman "and we are delighted to announce this Agreement."

http://www.astronergy.com/press_detail.php?news_id=51

[noirua]

Well done Solco with an ASX announcement at 5.23pm to give everyone the chance to digest the information. I guess everyone invested from Germany will be staying up to watch the early trades.

[skc]

Interesting article here on Lend Lease going into the solar market. Good background reading on the industry in general.

http://www.businessspectator.com.au/bs.nsf/Article/A-new-lease-on-life-for-solar-pd20100806-82SHT?OpenDocument

Will they be a threat to SOO? Or may be they can takeover SOO and get a great instant footprint and knowhow. SOO at market cap of $20m will be soo (sic.) easy to swallow even with takeover premium of 30-50%.

Pure speculation of course...

No change to earlier analysis... NPAT of $3m and PE of 10 => 15c per share target. Full year release in a couple of weeks. Let's see if they get some love from the market then.

[StockExplorer]

ASX Announcement
31 August 2010

RECORD REVENUE AND PROFIT GROWTH

Solco Limited (ASX: SOO, “Solco” or “the Company”) is pleased to announce a record profit before tax of
$3.29 million for the 2010 financial year – an increase of 84% over 2009, coupled with a record revenue of
$34.5 million. It exceeded the $3.15 million profit forecast provided in July 2010 by 4.5% and is the second
consecutive year of profit growth following the re-structure of Solco’s Board and Senior Management team
in the 2008 fiscal year.
“This outstanding result demonstrates Solco’s ability to maintain robust growth while preserving strong
operating margins in the face of significant business challenges” said Mark Norman CEO. “It is the result of
dedication and focus by our national team and underpins our strategic plan for future growth. To support this
growth, the Company’s national network continues to expand with the recent securing of office and
warehouse premise in Melbourne, which will be operational in September.”

complete report :
http://www.asx.com.au/asxpdf/20100831/pdf/31s6t0xzsb2dy1.pdf

see also :

31/08/2010 Preliminary Final Report
http://www.asx.com.au/asxpdf/20100831/pdf/31s6sl4bsfpmkk.pdf

31/08/2010 Annual Financial Report
http://www.asx.com.au/asxpdf/20100831/pdf/31s6tl2lpyq8w4.pdf

[skc]

Profit as per expectation, but market not willing to give the valuation it deserves.

NPAT $4.8m actually higher than Profit before tax thanks to some tax credits.

Using the before tax figure, $3.29m at PE 10 gives market cap of $33m or 16.5c. Currently the stock trades at PE of 6.4.

It's a shame they decided not to pay any dividend, although they can afford to looking at their financials. Cash on hand > $6m. A 0.25c dividend would only cost $0.5m.

[UBIQUITOUS]

It's a shame they decided not to pay any dividend, although they can afford to looking at their financials. Cash on hand > $6m. A 0.25c dividend would only cost $0.5m.

I would be VERY concerned if I were a shareholder in a small company with growth aspirations, and that company began to pay out dividends - unless of course that company had more cash coming out if it's ears than it could ever possibly reinvest. Solco does not appear to fit in that category :2twocents

[skc]

I would be VERY concerned if I were a shareholder in a small company with growth aspirations, and that company began to pay out dividends - unless of course that company had more cash coming out if it's ears than it could ever possibly reinvest. Solco does not appear to fit in that category :2twocents

I don't disagree.

But paying out a small amount (like $0.5m from $4.8m NPAT which is only ~11%) can also signal to the market that they are confident of the business prospects and don't need to hold onto all the cash unnecessarily.

[StockExplorer]

ASX Announcement 16 November 2010

SOLCO DECLARES DIVIDEND PAYMENT
50% increase on FY2009 dividend payment

Solco Limited (ASX: SOO) is pleased to announce a dividend payment for shareholders of 0.375 cents per share relating to the financial period ending 30 June 2010, following a second consecutive year of record profit and growth.
The Company, an established and profitable solar energy wholesale supplier, will provide shareholders with a total dividend of approximately AUD$750,000, a 50% increase on its maiden dividend payment in 2009.

Dividend details
Amount: 0.375 cents ($0.00375) per share
Franked/ Unfranked: Unfranked
Record Date: 26th November 2010
Anticipated payment date: 18 January 2011

Solco’s Chief Executive Officer Mark Norman said he was pleased to continue providing strong shareholders returns.
“We believe this dividend payment reflects Solco’s growing status as profitable company - and a leading entity within Australia’s wholesale solar energy supply sector. In the last financial year we achieved a record 84% increase in profit before tax, and are pleased to reward our shareholders for
their continued support,” said Mr Norman.
“Through the continued growth of our core divisions and the expansion of our national sales network and capabilities, we are currently on track to sustain this growth in the 2011 financial year.”

ENDS

http://www.asx.com.au/asxpdf/20101116/pdf/31txj0y6c5y0kr.pdf

[pixel]

Looking at the (weekly) chart, it doesn't look too bad.

39966

Daily turnover is a bit low; at 200M issued shares, an average 150K volume a day suggests they're "tightly held". Maybe the holders value their company higher than non-holders are prepared to pay?

If the current setup were to play out as an ascending triangle break above 13.5c, 15c resistance should come under pressure, and a target at 18c, maybe higher, might come into view by early 2011. So far, it's a little speccie, but I'll take the challenge and start building a position.

39967

[StockExplorer]

Solco Newsletter January 2011

http://www.solco.com.au/pdf/newsletter/Solco%20Newsletter%20January%202011.pdf

[StockExplorer]

15/03/2011 Investor Presentation

http://www.asx.com.au/asxpdf/20110315/pdf/41xfjnf6c3x5b4.pdf

[StockExplorer]

30 August 2011

ASX ANNOUNCEMENT

SOLCO CONFIRMS RECORD PROFIT WITH 2011 FULL YEAR RESULTS

Highlights:

Record revenue of $53.7 million
Revenue growth of more than 56 per cent on the previous year
Record pre-tax profit of $3.6 million
25 year milestone for Group
Industry shift presents upside for Solco

Solco Limited (ASX: SOO) (“Solco” or “the Company”) today released its full year
results, which confirmed earlier guidance of a pre tax profit of $3.6 million for the 12
months to 30 June 2011.

The company’s 56% growth in revenue to $53.7 million was driven by the ongoing
success of the company’s Products division, which wholesales a range of solar
products, and the continued expansion of the company’s Projects and Power Divisions.

Executive Chairman David Richardson said the strong results reflected the advantages
of the Solco business including the company’s national footprint, wide range of solar
products and its strategy of growing the business well beyond the residential market
and into the development of commercial scale solar installations and projects.

“Our strategy is proving successful and it remains unchanged for the coming year. We
will continue to build our wholesale division while increasing our market share of grid-
fed power generation through larger scale commercial installations and build-own-
operate power generation projects through strategic joint venture partnerships,” said Mr
Richardson

“After 25 years in the industry our experience, scale and strategy has given us the
ability to make the most of growth and weather any challenges in the sector. As
Government Solar programs are devolved we anticipate a reduction in the products
consumed by the residential solar market, but with steadily rising power prices and
solar energy coming closer to grid-parity, the time is now right for the commercial PV
market to expand.”

“With our proven business model, the right people, the right relationships, and the right
products and experience, Solco is one of the best positioned solar energy companies
to take advantage of the shift from a domestic to a commercial PV market,” he said.

ENDS

SOLCO*LTD*
ABN*27*084*656*691*
12*Brennan*Way,*Belmont*WA*6104,***P.O.*Box*37,*We lshpool*DC,*WA*6986*
Office:*61‐8‐9334*8100***Free*call*1800*454*161*** Fax:*61‐8‐9334*8199**
www.solco.com.au