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Last 1.63 GBp
Change Today 0.00 / 0.00%
Volume 0.0
As of 11:35 AM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

ncondezi energy ltd (NCCL) Snapshot

1.63 GBp
Previous Close
1.63 GBp
Day High
1.63 GBp
Day Low
1.63 GBp
52 Week High
09/19/14 - 8.00 GBp
52 Week Low
07/27/15 - 1.63 GBp
Market Cap
Average Volume 10 Days
-0.20 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for NCONDEZI ENERGY LTD (NCCL)

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ncondezi energy ltd (NCCL) Details

Ncondezi Energy focuses on the development of thermal power plant project in northern Mozambique. It also owns 100% interest in the Ncondezi project that is located in the Zambezi coal basin in the Tete province, Mozambique, which covers an area of approximately 38,700 hectares in the Zambezi coal basin. The company was formerly known as Ncondezi Coal Company Limited and changed its name to Ncondezi Energy in July 2013. Ncondezi Energy was incorporated in 2006 and is based in Road Town, the British Virgin Islands.

39 Employees
Last Reported Date: 06/26/15
Founded in 2006

ncondezi energy ltd (NCCL) Top Compensated Officers

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Executives, Board Directors

ncondezi energy ltd (NCCL) Key Developments

Ncondezi Energy Announces Executive and Directorate Changes

Ncondezi Energy announced that Paul Venter has decided to step down as Chief Executive Officer (CEO) and Executive Director. Mr. Venter joined Ncondezi as Chief Operating Officer (COO) in June 2012 and was appointed CEO in February 2013. Mr. Venter helped transition Ncondezi from a mining exploration to a power development company and has been responsible for delivering the Company's power development strategy including the in principle commercial deal that was agreed with EDM in September 2014 and extended in March 2015. Chris Schutte, Ncondezi's current COO, will take over the day to day project development activities going forward. The company also announced that Mr. Aman Sachdeva has been appointed as a new Non-Executive Director of Ncondezi acting as AFC's nominated director. Mr. Sachdeva is 49 and brings a wealth of experience to the Ncondezi Board having spent more than 20 years in the infrastructure industry, specializing in the energy sector; ranging from project finance, management consulting, regulatory affairs, mergers and acquisitions, power system planning, energy conservation and marketing. Mr. Sachdeva is currently the founder and CEO of Synergy Consulting, an independent consulting practice with a focus on project finance, which has to date closed projects worth $12 billion.

Ncondezi Signs MOU with Shanghai Power as Potential Strategic Investor

Ncondezi Energy Limited announced that it has signed a non-binding Memorandum of Understanding ('MoU') with Shanghai Electric Power Company Limited to progress and agree a transaction where SEP could potentially become the controlling shareholder in the 300MW power plant project, located near Tete in northern Mozambique. The MoU documents SEP and Ncondezi's mutual intention to further cooperate with each other and sets out a work plan and timetable, with a view to executing a legally binding Joint Venture Agreement Heads of Terms ('JVAHOTs') during fourth quarter 2014. It is currently the intention within the MoU that the JVAHOTs will outline a transaction whereby SEP acquires a controlling equity position in the Power Project. In addition, it is also the intention that SEP will acquire a minority interest in the Ncondezi Mine Project ('Mine Project'). Following execution of this MOU, the Parties will commence the negotiation of the JVAHOTs. Such process shall run concurrently with the final due diligence process to be conducted by SEP in order to meet the fourth quarter 2014 timetable. Ncondezi has agreed to give SEP a short period of exclusivity to agree the JVAHOTs.

Ncondezi Energy Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

Ncondezi Energy reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported loss before taxation of $2.903 million compared to $3.774 million a year ago. Loss attributable to equity shareholders of the parent company was $2.925 million or 1.6 cents per basic and diluted share compared to $3.816 million or 3.2 cents per basic and diluted share a year ago. Net cash flow used in operating activities after tax of $1.472 million compared to $4.011 million a year ago. Payments for property, plant and equipment was $1,000.


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