The directors all bought some shares today, see the announcements, and with the next financial report due out soon, its heading North.
The following article is re plans for 100 Australian franchises, the Malta deal, and the licence deal with am American company.
"Solco Ltd Managing Director Duncan Stone says the company has a growth initiative planned for accessing the Australian metropolitan markets.
He told Open Briefing Solco was examining the feasibility of establishing a network of 100 franchisees which will provide a total sustainable water and power solution to households. Across Australia governments have passed new legislation to make homes and businesses more environmentally friendly by reducing their water and power consumption.
He said the Malta manufacturing license transaction had put Solco ahead of budget. The plant is expected to be installed by the end of December 2005 and the licensee is a substantial industrial company which was a subsidiary of the UK based engineer Motherwell Bridge.
Solco has signed an option agreement with an American company for a manufacturing license for a number of Westerna African countries for 5 percent of the $US900,000 ($A1.2 million) license price. If the option is exercised before it expires March 23 next year (2006) it will be Solco's largest and most profitable license sale ever.
The Malaysian licensee's plant will be operating from next month. The Portuguese licensee, 19 percent owned by Solco, has received approval to sell the Solartech Genius in Spain where it qualifies for the full rebate available for mandatory solar hot water systems in new houses.
Solco is on track to meet its $16 million revenue target this year (2005/06) and is budgeting for its maiden profit this year."
GOE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
