Business
INTERIM RESULTS FOR THE 6 MONTHS TO 30 JUNE 17
INTERIM RESULTS FOR THE 6 MONTHS TO 30 JUNE 17.
About this update from Oracle Power Plc
[{"type":"text","content":"\n \nRNS Number : 1629S Oracle Power PLC 29 September 2017 \n\nInterim Results\n \n \nOracle Power PLC\n29 September 2017\n \n \n \nORACLE POWER PLC\n(\"Oracle\" or the \"Company\" or the \"Group\")\n \n \nUNAUDITED INTERIM RESULTS FOR THE 6 MONTHS TO 30 JUNE 2017\n \n \n \nOracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the Thar desert in the south-eastern Sindh Province of Pakistan, today announces its unaudited interim results for the six months ended 30 June 2017.\n \n2017 Highlights : January -June \n· \"Letter of No Objection\" issued by Central Power Purchasing Agency;\n· Power from the project to be accommodated within high voltage transmission line;\n· Water access allocated;\n· Change of name, reflecting broader strategic objective to be an integrated resource and energy company.\n \n2017 Highlights : Since 1st July \n· Public hearing for power plant Environmental and Social Impact Assessment held in Thar;\n· Strengthening of Board;\n· Loan Agreement for working capital arranged.\n· Memorandum of Understanding agreed in principle with two Chinese State-owned Enterprises for development and funding of Thar project. \n \nCHAIRMAN'S STATEMENT FOR THE 6 MONTHS TO 30 JUNE 2017\nChairman's Statement\nI am pleased to present the Company's results for the six months ended 30 June 2017.\n \nBoard Appointments\nWe have made two recent appointments to the Board, Mr Mark Steed in July 2017 and Mr Andreas Migge in August 2017. I am grateful for the experience they bring to the Company, Mark in the field of international stock and commodity markets, corporate finance and trading in securities in emerging economies, and Andreas as an investment banker with a strong investment and cross border experience in the resources and energy sector. \n \n \nOperational Update\n Since Oracle's elevation to the Priority List, originally announced on 9 January 2017, the Company has continued to seek suitable Chinese partners as Engineering, Procurement and Construction contracto...