|Shareholders are referred to the SENS announcement released on 13 November 2017 wherein the company announced that it was in discussions with various parties to secure offtake agreements, which may have a material effect on the price of the company?s securities.|
Shareholders are advised to continue to exercise caution when dealing in the company?s securities until a further announcement is made.
|Shareholders are advised that the Company has entered into advanced discussions with various parties to secure offtake agreements, the full impact of which is currently being determined and which may have a material effect on the price of the Company?s securities. Accordingly, shareholders are advised to exercise caution when dealing in the company?s securities until a full announcement is made.|
|Sales for the interim period grew to R1.4 million (2016: R512 000) whilst gross loss was recorded at R428 000 (2016: profit of R126 000). Operating loss widened to R17.1 million (2016: loss of R9.3 million). Total loss attributable to owners of the parent worsened to R16.7 million (2016: loss of R9.1 million). Furthermore, headline loss per share was 21.15 cents per share (2016: loss of 11.76 cents per share).|
|Renergen announced that it has received a positive environmental authorisation or record of decision (?RoD?) on Tetra4?s Environmental Impact Assessment (?EIA?) by the Petroleum Agency of South Africa (?PASA?) on 29 September 2017, a process which has taken over two years and involved multiple rounds of public participation.|
Tetra4 has also announced that it will become the first company to produce Liquefied Natural Gas (?LNG?) in the country and among the first to sell LNG locally, resulting in significant financial savings to the end-user. Gas in liquid form overcomes the challenges of size and weight of vessels to hold the gas as well as the high pressures associated with the gas.
South Africa has seen calls for less dependence on coal as a source of energy over the years. Lower use of coal will reduce greenhouse gas emissions and less demand will lessen environmental risk in various industries across the country. By pursuing the production of LNG, Renergen has taken the first step in the development of energy in South Africa.
When producing LNG, the liquefaction of gas allows for condensation of the energy around 625 times its natural state. This form of gas increases the energy density to levels comparable to diesel, implying Tetra4 can now deliver its gas nationally. This ground-breaking initiative will see trucks and buses using LNG, supplied by Tetra4, travel up to 2 000 kilometres compared to the current 500 kilometres, which are now powered by compressed natural gas (CNG).
|A review of the financial results for period ended 31 August 2017 by management has indicated that the loss per share and headline loss per share is expected to be between 19.85 cents and 22.39 cents, reflecting an increase in the loss of between 56% and 76% compared to the loss per share and headline loss per share of 12.73 cents for the period ended 31 August 2016.|
|Shareholders are hereby advised that all the ordinary and special resolutions, as set out in the notice of the Annual General Meeting (?AGM?), were passed by the requisite majority of shareholder votes at the AGM held on 29 September 2017 at 1st Floor, 1 Bompass Road, Dunkeld West, Johannesburg.|
|Notice is hereby given that the company?s annual compliance report in terms of section 13G(2) of the Act has been published and is available on the company?s website at www.renergen.co.za.|
|Shareholders were advised that Renergens?s annual report, containing the audited group financial statements for the year ended 28 February 2017, was disseminated to shareholders on Monday, 19 June 2017, and contains no modifications to the audited results which were announced on SENS on 30 May 2017. The annual report is also available at www.renergen.co.za.|
Notice of AGM
The annual general meeting of Renergen will be held at 1st Floor, 1 Bompas Road, Dunkeld West, 2196, on Friday, 29 September 2017 at 10h00 to transact the business as set out in the notice of the annual general meeting on pages 92 to 96 of the annual report. The date on which shareholders must be recorded as such in the share register to be eligible to vote at the annual general meeting is Friday, 22 September 2017, with the last day to trade being Tuesday, 19 September 2017.
|Renergen released their final results for the 12 months ended 28 February 2017. As Renergen published results for the 14 months ended 29 February 2016 following its listing, no comparatives are given. Revenue was recorded at R1.7 million, gross loss was recorded at R405 000. Operating loss came to R23.0 million and loss attributable to owners of the parent was R13.8 million.|
|Renergen and the Industrial Development Corporation (IDC) today announced funding of R218 million to develop the pipeline and associated installations, compression station and the power and steam plant at Renergen's subsidiary Tetra4's Virginia Project, subject to conditions precedent. The funding is over an eight-year term. Following the recent uncontested submission of the Environmental Impact Assessment for the construction of the pipeline at Virginia, Tetra4 now awaits the final record of decision for development to commence.|
|The board of directors of the company hereby notifies shareholders that the company has decided to change JSE designated advisor to PSG Capital (Pty) Ltd, with effect from 1 June 2017. |
|A review of the financial results for the year ended 28 February 2017 by management has indicated that the loss per share and headline loss per share is expected to be between 20.38 cents and 24.04 cents, reflecting a decrease in the loss of between 34.2% and 44.2% compared to the loss per share and headline loss per share of 36.53 cents for the year ended 28 February 2016.|
|The board of directors of Renergen (?the board?) hereby notifies its shareholders of the following changes to the board, which become effective on 7 December 2016.|
Dr Bane Maleke has been appointed as an independent non-executive director.
Dr Maleke holds a MBA from Dalhousie University (Canada) and a PhD - Strategic Management, from the University of Bath (UK). He spent 20 years in senior management at the Development Bank of South Africa (DBSA) and held the position of Regional Executive for the SADC and East Africa Regions.
Mr Reginald Edmond Cooke has resigned as an executive director but will continue his involvement in the operational aspects of Tetra4 (Pty) Ltd. in his capacity as a consultant.
|Sales for the interim period came in at R512 000 (nil) whilst gross profit was R126 000 (nil). Operating loss widened to R9.3 million (loss of R4.7 million). Total comprehensive income attributable to owners worsened to R9.1 million (nil). In addition, headline loss per share tumbled to 12.73cps (283.06cps).|
|A review of the financial results for the six months ended 31 August 2016 by management has indicated that the loss per share and headline loss per share is expected to be between 19.81 cents and 5.65 cents, reflecting a decrease in the loss of between 93% and 98% compared to the loss per share and headline loss per share of 283.06 cents for the six months ended 31 August 2015.|
Production commenced in May 2016 with compression taking place from the first of the Company?s current 12 wells, which was the major contributing factor to the positive change in earnings.
Renergen's financial results are expected to be released on SENS on or about 18 October 2016.
|The board of directors of Renergen (?the board?) hereby notifies its shareholders that Mr Russell Broadhead has resigned as an independent non-executive director and member of the Audit and Risk Committee with effect from 10 October 2016. |
The decision to resign was made following his acceptance of a position as executive director of a company operating in the renewable energy sector.
The board has commenced the process to appoint a new independent non-executive director and shareholders will be advised once an appointment has been made.
|Shareholders are referred to the Independent Reserves Update Report included in the circular distributed to shareholders on 28 October 2015 ('2015 Report') and are hereby advised of the results of the latest independent reserve review of the Virginia Project held by the company's subsidiary Tetra4 (Pty) Ltd., dated 30 September 2016.|
Net Reserve volumes have increased, primarily based on drilling results during the past 12 months.
Net reserve volumes have increased the total Proved and Probable Reserves to 100 927 MMcf, an increase of 24% since the 2015 Report.
Reserve volumes have been reported on a company net basis. This illustrates the volumes attributable to the company after all burdens have been accounted for.
The exploration costs incurred amounted to approximately R4.8 million, which consisted primarily of the drilling of four wells over the last 12 months and the updating of the detailed geological model.
Based on the success of this campaign, the new geological information allowed for the addition of a number of Probable and Possible locations adjacent to the wells as well as new Proved locations along the fault lines that were further defined by drilling.
The revised reserve volumes have resulted in an updated economic assessment of the company's Virginia assets as detailed in the relevant SENS note.
Venmyn Deloitte's report indicates a value of R6.6 billion representing P1 Proven gas reserves at 10% discount and P2 Probable gas reserves at 20%, which demonstrates the financially prudent and sophisticated scientific methodologies being used in determining where to drill, shows a good understanding of the reserve, demonstrates management's ability to continue to enhance and unlock shareholder value in the country's first and only onshore petroleum production right. The above reserve estimates were signed off on the 30th of September 2016 by a qualified reserves evaluator, Mr R Bertram, and is based on assumptions including USD/ZAR of 12 and a gas sales price of ZAR 210/GJ.
Renergen and Venmyn Deloitte will host a call at 12:00pm SA today (05 October 2016) to discuss the results of the Reserve Update. Dial +2711 535 3600 to join the call. The presentation and Independent Reserves Update Report are available from www.renergen.co.za. Email investor queries to email@example.com
|Shareholders are advised that, at the annual general meeting of Renergen, all the resolutions as set out in the notice of annual general meeting were passed by the requisite majority of shareholders.|
|Shareholders are advised that the Annual Report for the year ended 29 February 2016, together with the Notice of Annual General Meeting incorporated therein (?2016 Annual Report?), was distributed to shareholders today, 30 August 2016 and contains no modifications to the audited provisional results published on SENS on 27 May 2016. The 2016 Annual Report is also available on Renergen?s website (www.renergen.co.za).|
Notice is hereby given that the first Annual General Meeting of shareholders of Renergen will be held at 10:00 on Friday, 30 September 2016 at First Floor, 1 Bompas Road, Dunkeld West, 2196, to transact the business stated in the notice of the Annual General Meeting.
The board of directors of the Company determined that, in terms of section 62(3)(a), as read with section 59 of the Companies Act, 2008 (Act 71 of 2008), as amended, the record date for the purposes of determining which shareholders of the Company are entitled to participate in and vote at the Annual General Meeting is Friday, 23 September 2016. Accordingly, the last day to trade Renergen shares in order to be recorded in the Register to be entitled to vote will be Tuesday, 20 September 2016.
|Renergen released their maiden final results for the 14 months ended 29 February 2016. Operating loss came in at R18 million, loss attributable to owners of the parent was R18.5 million, while headline loss per ordinary share was recorded at 36.53 cents per share. |
Renergen successfully listed as a special purpose acquisition company (?SPAC?) on the AltX of the JSE on 9 June 2015 being the first listed alternative energy company on the JSE.
Renergen acquired its first viable asset, Tetra4 (Pty) Ltd. (?Tetra4?) in November 2015 which holds the 187 000 hectare Natural Gas field in Virginia, near Welkom, with proven reserves of 25 billion cubic feet of Natural Gas and Helium as the first and only onshore petroleum (and Natural Gas) right in South Africa.
An offtake agreement for the Helium from the Virginia gas field was concluded between Renergen, the Linde Group and African Oxygen Ltd. (?Afrox?) on 3 May 2016. On 19 May 2016 Tetra4 signed an agreement with Megabus (Pty) Ltd. (?Megabus?) to supply compressed Natural Gas to ten of their buses in the Free State. The first compression site was completed in May 2016. Revenue generation commenced in May 2016.
|Further to the listing of Renergen on AltX on 9 June 2015, the company is preparing its inaugural set of year-end financial results for the 14 month period ended 29 February 2016. Accordingly, Renergen hereby advises shareholders that the basic loss per share and headline loss per share are expected to be between 30.31 cents and 37.05 cents due to expenditure incurred to prepare operations to become revenue generating after year-end.|
The financial information on which this trading statement is based has not been reviewed or reported on by the company?s auditors. Renergen's year-end financial results are expected to be released on SENS on or about 26 May 2016.
|Shareholders are advised that alternative energy company, Renergen, and Unitrans Passenger (Pty) Ltd. have signed a contract through their respective subsidiaries, TETRA4 (Pty) Ltd. (?TETRA4?), and Megabus (Pty) Ltd. (?Megabus?), for the supply of compressed natural gas (?CNG?) by TETRA4 to Megabus, to power 10 buses operating from the Megabus depot in the town of Virginia, Free State province, South Africa. |
This contract marks the first sales of locally produced onshore natural gas, and is being used to fuel buses which operate the first Scania Euro 6 bus engines powered by CNG on the African continent. Construction of the compression facility is complete with initial gas having been compressed, marking the first major step towards creating an energy efficient gas economy in the Free State.
|Shareholders are advised that alternative energy company, Renergen, through its subsidiary, TETRA 4 (Pty) Ltd. (?TETRA 4?), and leading supplier of gases and welding products, African Oxygen Ltd. (?Afrox?), have signed a contract for the commercialisation of the Free State Helium and Natural Gas field operated by TETRA 4.|
The 187,000 hectare Helium and Natural Gas field in Virginia, near Welkom, has proven reserves of 25 billion cubic feet of Helium and Natural Gas. The contract will enable Afrox to locally source and supply Helium to numerous specialised and industrial markets by 2018/19.
Under the agreement, TETRA 4 has contracted the Helium offtake to The Linde Group, via its Global Helium business. JSE-listed Afrox, a member of The Linde Group, will operate the processing plant and market the Helium.
|Renergen announces the appointment of Luigi Matteucci as an independent non-executive director and a member of the Audit Committee with immediate effect, in compliance with paragraph 3.59 of the Listings Requirements of the JSE Ltd.|
In addition, Reginald Cooke, currently an independent non-executive director, will become involved in operational aspects of Tetra4 Pty Ltd, a major subsidiary of Renergen, and will therefore cease to be an independent non-executive director, but will remain an executive director of the board.
|This is the company's maiden interim results therefore there are no comparatives. Operating loss amounted to R4.7 million, while total comprehensive loss came in at R4.7 million. Headline loss per share was recorded at 283.06cps.|
Renergen draw attention to the accumulated loss of R4 748 247 at 31 August 2015. The total assets exceed total liabilities by R68 208 463. Financial statements have been prepared on the basis of accounting policies applicable to a going concern. The ability of the Company to continue as a going concern is not in question as it remains liquid and solvent.
|Shareholders are referred to the ?Results of General Meeting? announcement released on SENS today, 25 November 2015, wherein shareholders were advised that the acquisition by RENERGEN of 90% of the issued share capital in and claims against of Molopo South Africa Exploration and Production (Pty) Ltd. (?Molopo?) from Windfall Energy (Pty) Ltd. (the ?Acquisition?) had been approved. |
Consequently, in compliance with paragraph 3.59 of the Listings Requirements of JSE Ltd., shareholders are hereby advised that, with immediate effect:
* Mr Clive Angel has resigned as an executive director and Financial Director of the company having served his term which terminates upon the approval of the Acquisition;
* Ms Fulu Ravele CA(SA) has been appointed as Financial Director of the company; and
* Mr Nick Mitchell has been appointed as an executive director of the company and Chief Operating Officer.
|Shareholders are referred to the announcement published by Renergen on 18 August 2015 relating to the acquisition by the Company of 90% of the issued share capital and (Pty) Ltd. from Windfall Energy (Pty) Ltd. (the ?Molopo Acquisition?).|
Renergen shareholders are furthermore referred to the announcement published by Renergen on 28 October 2015, whereby shareholders were advised that the Circular, incorporating a notice convening a general meeting of shareholders at which ordinary and special resolutions would be considered for purposes of approving the Molopo Acquisition (?the General Meeting?) had been distributed to shareholders.
Shareholders are hereby advised that the General Meeting was held on 25 November 2015 at 1st Floor, Building 8, Inanda Greens Business Park, 54 Wierda Road West, Wierda Valley, Sandton. All resolutions were approved.
|Shareholders are referred to the detailed terms announcement published by the Company dated 18 August 2015 relating to the acquisition by the Company of 90% of the issued share capital and claims of Molopo South Africa Exploration and Production Proprietary Limited from Windfall Energy Proprietary Limited (the ?Molopo Acquisition?). Shareholders are hereby advised that the JSE has formally approved the circular relating to the Molopo Acquisition (the Circular) and that the Circular was distributed to shareholders today, 28 October 2015.|
Notice of general meeting
Notice is hereby given that a general meeting of Renergen shareholders will be held at 10:00 on Wednesday, 25 November 2015, at 1st Floor, Building 8, Inanda Greens Business Park, 54 Wierda Road West, Wierda Valley, Sandton (the General Meeting), to consider and if deemed fit approve, the resolutions relating to the Molopo Acquisition as contained in the notice of General Meeting which forms part of the Circular. The date on which shareholders must be recorded in the share register of the Company for purposes of being entitled to attend and vote at the General Meeting is Friday, 20 November 2015, with the last day to trade being Friday, 13 November 2015. The Circular incorporating the notice of General Meeting is also available on the Company?s website www.renergen.co.za and can be viewed at its offices at Unit 14 Boskruin Business Park, Randpark Ridge Ext 56, Johannesburg 2156, during office hours.
|Further to the listing of Renergen as a Special Purpose Acquisition Company (?SPAC?) on the Alternative Exchange of the JSE on 9 June 2015, shareholders are advised that while the Company was incorporated in October 2014, no historical financial information for the year ended 28 February 2015 exists as the Company had no operations during such period. Renergen?s first reporting period will be for the six month period ending 31 August 2015 and the Company?s first Integrated Annual Report will be prepared for the year ending 28 February 2016.|
|Shareholders are advised that the Company has entered into negotiations which, if successfully concluded, will result in the acquisition of a viable asset and may have a material effect on the price of the Company?s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company?s securities, until a further announcement is made.|
|Renergen announced the appointment of Brett Kimber as independent non-executive director and chairman of the Board with effect from 17 June 2015, in compliance with paragraph 3.59 of the Listings Requirements of the JSE Ltd. Mbali Swana relinquished his position as chairman and is appointed as deputy chairman with effect from 17 June 2015.|
|Renergen is an integrated alternative energy business that invests in early stage renewable energy projects across Africa - emerging markets.|
As an investment holding company Renergen aims to participate in the growth of the African alternative energy sector, take advantage of investor demand and benefit from the growing need for alternative and renewable energy in South Africa and in sub-Saharan Africa. Renergen has successfully raised R74 million by way of a private placement through the subscription of shares from leading investors, including the Directors, who will cumulatively hold a minimum interest of 5% in the Company. It is the intention of Renergen to maximise returns to shareholders by acquiring viable alternative and renewable energy businesses which are integral to their vertical integration in the supply chain.
While Renergen is currently considering a number of acquisitions, no formal binding agreements have been entered into.