re: Ann: Full year results announcement and p... Disc on Acq of...

re: Ann: Full year results announcement and p... Disc on Acq of further interest on Oakey $19M in FY2012 results, one off. This was a great deal, refer below.

?? In FY2012 ERM Power increased its effective
ownership interest in the Oakey power station from
12.5% to 83.33% adding 235 MW of power
generation to the ERM Power portfolio
?? The additional interest was acquired at a cost (debt
plus equity) less than half of the estimated
development cost of an equivalent new power station
and without construction risk
?? With a controlling interest, ERM Power will look to
maximise the commercial value with a wide range of
options including:
?? recontracting
?? refinancing
?? divestment
?? combination of the above, and
?? vertical integration
?? Current project debt will be repaid by December 2014