Keep an eye out for this floating next month I believe. It could be another corker like WNG Worthington Nicholls. Sure to go off strong and its floating on the main market. Gordon Brown virtually handed it a golden handshake yesterday with his budget speech. Grants to be extended to more pensioners and others and grant limit raised. Dont miss it.

WEB SITE

http://www.eaga.com/index.htm

http://www.zeneagasolar.co.uk/default.aspx

Heres the first details..

EAGA PLC
08 February 2007




8th February, 2007



eaga plc

INTENTION TO SEEK ADMISSION TO TRADING ON

THE OFFICIAL LIST OF THE LONDON STOCK EXCHANGE



eaga (the Company), the UK market leader in the delivery of residential energy
efficiency solutions, today announces its intention to seek admission to trading
on the main market of the London Stock Exchange in 2007.

eaga has a proven track record in delivering outsourced programmes aimed at
eradicating fuel poverty in vulnerable households. In recent years eaga has
diversified its offering to become a significant provider of household energy
efficiency measures under the Energy Efficiency Commitment (EEC), and is a
significant player in the local authority and social housing sector. eaga has
developed a scalable infrastructure upon which it intends to capitalise on the
substantial opportunities that management expects to exist in government and
outsourcing, domestic energy efficiency, and social housing markets going
forward.

Brewin Dolphin Securities has been appointed as Sponsor and Broker to the
Company. The flotation is intended to be achieved by means of placing of shares
to institutional investors.

eaga has delivered energy efficiency measures to over 5 million UK homes, lifted
several million vulnerable people out of fuel poverty. Every day eaga improves
insulation in over 500 homes. The company also fits or repairs a central heating
system every minute of every working day.

Management, led by Chief Executive John Clough, has an excellent track record
which has seen revenues increase from inception in 1990 to a current year
forecast of 500m. Excellent profit growth and cash generation has enabled eaga
to achieve impressive organic growth. In recent years this has been supplemented
by key acquisitions that have increased eaga's delivery capability, broadened
its market exposure, and further enhanced eaga's profitability.

Commenting on the announcement, John Clough, Chief Executive, said:

'We are pleased to announce the intended flotation of eaga. Over the last
sixteen years we have built a very successful business and are now the UK's
largest provider of residential energy efficiency solutions. We have been
providing end-to-end solutions to serious environmental and social issues such
as the elimination of fuel poverty for many years. We are now an emerging force
in providing solutions to climate change challenges. The proposed flotation will
provide the company with the financial flexibility required to fund the next
phase of growth. It will also enable some of the existing shareholders
(principally the Employee Benefit Trust) to realise a proportion of their
respective investments.'

eaga's future revenue prospects are strongly supported by the Government's
environmental, energy and social policy commitments. eaga plans to extend its
services to become a leading residential infrastructure service provider by
broadening its local authority and social housing offering, extending its
aftercare services and able to pay central heating offering and capturing
further government and outsourcing delivery opportunities.

Enquiries:
eaga
John Clough, eaga Chief Executive 0191 350 6531

James Grugeon, eaga Communications Director


Brewin Dolphin Securities

Graeme Summers 0191 279 7531

Andrew Kitchingman 0113 241 0187




Tulchan Communications 020 7353 4200

Dominic Fry






Notes to editors:

1. Introduction

eaga is a UK market leader in the delivery of residential improvements in the
environmental, energy efficiency and social justice arenas. eaga's core focus
is working with government, local authorities and utility companies to lower
carbon emissions, combat fuel poverty and reduce energy consumption. The work
undertaken is principally focussed on the housing and social needs of low income
and vulnerable households.

eaga is based on a partnership structure and is 100% employee owned by two
employee trusts (eaga has two Employee Benefits Trusts (EBT) which sit at the
head of the employee owned partnership, holding shares in trust for the benefit
of all partners). The company has grown rapidly in recent years, building strong
relationships with its customers by:

developing a leading position as a significant deliverer of UK
governments' fuel poverty programmes, underpinned by over 15 years'
experience of dealing with the most vulnerable groups in society;

working closely with utility companies to support delivery of their
Energy Efficiency Commitment (under the Energy Efficiency Commitment
electricity and gas suppliers are required to achieve targets for the
promotion of improvements in domestic energy efficiency);and

undertaking key strategic actions to broaden activities throughout the
energy efficiency and home services supply chain, further embedding eaga
as an integrated supplier in its chosen markets, in particular the
social housing sector.

eaga's portfolio of products and services covers the provision of energy surveys
and advice, allocation and administration of energy efficiency funding,
installation of central heating systems, cavity wall and loft insulation,
renewable energy and a number of other ancillary products and services,
including insurance-backed aftercare provision.









2. Key Strengths

The Directors believe that eaga is in an excellent position to pursue the
significant opportunities developing in the environmental, energy efficiency and
social justice arenas, principally due to the following:

eaga has a strong and trusted reputation in both the public and
private sectors as an established and successful operator;

eaga is led by a highly experienced management team;

eaga has a strong visibility of earnings, with an order book currently
standing at 1.5 billion, arising from a number of significant
contracts in both the fuel poverty and social housing sectors;

eaga's leading position in a largely fragmented installation
marketplace makes the Company well-positioned to take advantage of
attractive consolidation opportunities;

eaga's national delivery infrastructure is well established and
provides a barrier to potential new market entrants;

over 7.2 million has been invested in developing eaga's industry
leading IT systems and infrastructure over the last 2 years. This IT
platform has not only provided the business with scalability it has
also been recognised by the National Audit Office as an example of best
practice and would therefore allow scope for diversification into
new business areas; and

eaga has a strong financial track record of growth with excellent
profits and significant cash generation.

3. Proposed Placing

The proposed placing will raise proceeds on behalf of existing shareholders,
principally the Employee Benefit Trusts.

4. History

eaga was established in 1990 as a privately-owned company, the Energy Action
Grants Agency Limited, to lead Government funded efforts to improve the living
conditions of vulnerable people living in cold, damp and energy inefficient
homes. John Clough has been Chief Executive of eaga since 1990.

Until 2004, the business developed largely organically through focus on market
penetration and diversification as new market opportunities were identified.
Late 2004 and early 2005 saw a change in the development of eaga, marked in
particular by the successful re-tender for Warm Front. This was followed by the
acquisition in April 2005 of Mico Group, a leading insulation services provider,
which complemented eaga's existing business, enabling it to become integrated
into the supply chain and gain a foothold in the EEC market as a leading UK
installer of residential insulation products.

The business continued to expand and in May 2006 acquired Everwarm Group,
Scotland's largest installer of domestic insulation and an installer of central
heating systems.

eaga started a pilot scheme in 2003 to develop an in-house central heating
installation business, which was further developed to deliver heating systems
under the most recent Warm Front contract from early 2005. Since the beginning
of 2005, eaga has developed its central heating installation capacity
organically from a zero base to around 300 installation engineers generating
turnover of approximately 36 million.

In December 2006, eaga sought to build on its internal skills base and build its
position as a major player in the social housing heating sector through the
acquisitions of; White Horse Group, whose major trading arm is HEAT, and of JD
Heating. HEAT specialises in the design, installation and maintenance of
domestic central heating in the social housing market sector within Great
Britain, Northern Ireland and the Republic of Ireland. JD Heating specialises
in servicing and installing domestic central heating systems in the West
Midlands. These two acquisitions together have doubled the size of eaga's
heating operation.

In addition to these key strategic acquisitions, eaga has also completed a
number of smaller complementary acquisitions and strategic alliances with the
aim of driving profitability and further strengthening market position. This has
included the acquisition in November 2005 of an insurance intermediary business
authorised by the Financial Services Authority.

It is intended in due course that the Company will review its brand strategy
across the UK with a view to streamlining the range of identities under which it
currently trades.

eaga is now structured into three core sectors, Government Contracts,
Installation Services and Specialist Support Services, comprising six divisions:
Government Contracts, Heating, Home Services, Specialist Business Services,
Shared Services and Insurance.

5. Board of Directors

Executive Directors

John Clough MBE, Chief Executive (aged 47)

John has been Chief Executive of eaga since the business was established in 1990
having previously worked in strategic management positions with British Coal.
Under his direction, the Company has grown to become a leader in providing
services to environmental, energy efficiency and social justice challenges.
eaga has become a trusted supply partner to local and national governments and
energy utilities throughout the UK.

John has led the strategic development of eaga, broadening its core service and
installation offerings, transforming its financial performance and provoking
significant sustainable growth in both the public and private sectors. John's
vision has led to a culture which engages with its employees and drives
performance and service commitment. He is a member of the government's 'Fuel
Poverty Advisory Group', the CBI's national 'Public Service Strategy Board', the
Government's panel on 'Transformational Government for Older People' and a
founder trustee of the independent eaga Charitable Trust.

Ian McLeod, Finance Director (aged 38)

Ian joined eaga in 2004, joining the Board in early 2005. He is responsible for
all aspects of financial management and reporting across eaga and works closely
with Drew Johnson in delivering eaga's inorganic growth strategy.

Ian spent 14 years with PricewaterhouseCoopers prior to joining eaga, during
which time he gained extensive experience in advising many different companies
across a broad range of market sectors. Latterly during his career with
PricewaterhouseCoopers, Ian supported blue chip organisations in undertaking
complex M&A transactions, working closely with a major plc in effecting
inorganic restructuring of its retail arm from 2002 onwards.

Drew Johnson, Commercial Director (aged 47)

Drew joined eaga in 1991, having previously been with British Coal in supply
chain management and logistics. He was appointed to eaga's Board in 1999 and
has subsequently held a number of executive positions in operations and in
business and commercial development.

Drew has responsibility for eaga's commercial strategy, focussing on the
identification, development and delivery of opportunities for both organic and
inorganic growth. He has been instrumental in diversifying eaga's operations
and transforming profitability.



Dave Routledge, Organisational Development Director (aged 47)

Dave joined eaga in 2002 and was appointed to the Board in 2004. He is
responsible for strategic organisational development, HR, IT, service
excellence, corporate and government affairs.

Prior to joining eaga, Dave acquired his own strategic consultancy business
working with blue chip clients. In that capacity, Dave worked as advisor to the
eaga Board and developed the strategy for corporate restructure.

Dave previously held main Board level responsibilities for human resources and
operations within the pharmaceutical sector. He has experience of company
restructuring in the UK, USA and Europe and was part of a management buy-out
team backed by HSBC (Montague Private Equity). He then worked with Credit
Suisse First Boston to deliver the successful IPO of the business on NASDAQ .

Non Executive Directors

Charles Berry, Non Executive Chairman (aged 54)

Charles joined eaga's Board in 2005 as a Non Executive Director and was
appointed Chairman in June 2006. He is also Chairman of the Nomination
Committee.

He has extensive experience within the UK power sector; he was appointed to the
Board of Scottish Power in 1999 and was Chief Executive of the company's UK
operations with responsibility for power generation as well as trading business,
energy retailing and strategic transactions such as renewables and development.
Charles is currently a Non Executive Director of Securities Trust of Scotland
plc and Drax Group plc.

Prior to joining Scottish Power, he was Group Development Director of Norwest
Holst, a subsidiary of Compagnie Generale des Eaux, and has held executive
management positions with responsibility for technical, business development and
marketing within subsidiaries of Pilkington plc.

Michael Roberts OBE, Non Executive Director and Deputy Chairman (aged 69)

Michael joined eaga's Board in 1999 as a Non Executive Director, and served as
Chairman until 2006 becoming Deputy Chairman in June 2006.

Michael is a past president of the Institute of Energy and is both well known
and respected in the energy efficiency world. Michael has broad ranging senior
executive experience, having served in PA Consulting and Shell.

Michael runs his own energy management consultancy business and has particular
experience in setting up energy management services for the government estate,
local authorities, public service bodies and private sector companies.

During the period of Michael's chairmanship, he has overseen the transition of
eaga in terms of growth of revenue, people and profits. Michael chairs the
Remuneration Committee and also sits on the Audit Committee.

Richard Burns, Senior Independent Non Executive Director (aged 48)

Richard is senior partner in the corporate practice of international law firm,
Hammonds. During his 25 years with the firm, he has developed particular
expertise advising on national and international mergers and acquisitions,
flotations and the raising of equity finance. Within Hammonds, Richard has
responsibility for the firm's corporate governance practice globally and has
advised companies and addressed conferences on the various codes of governance
which apply in the UK, Europe and in the US.

Richard is Senior Independent Non Executive Director and sits on the Audit
Committee, the Remuneration Committee and the Nomination Committee.



Quintin Oliver, Non Executive Director (aged 50)

Quintin lives and works in Belfast, Northern Ireland. He leads Stratagem, the
first dedicated lobbying and public affairs company to emerge after the peace
process development around Good Friday 1998; he ran the successful cross-party '
YES' Campaign for the subsequent referendum.

Quintin has worked in the public sector (as Welfare Rights Adviser to
Strathclyde Regional Council, 1977-1984), in the voluntary sector (as CEO of the
N. Ireland Council for Voluntary Action, 1985-1998) and now in the private
sector leading Strategem. He has wide European experience (founder of the
European, Youth Forum, 1976 and first President of the European Anti-Poverty
Network, 1991-1995). He is also experienced in the development of social
inclusion policies, and works extensively on the Middle East peace process.

Quintin is a member of the Remuneration and Nomination Committees.

Malcolm Simpson, Non Executive Director (aged 65)

Malcolm joined Greggs plc in 1973, becoming Finance Director in 1975. In this
capacity, Malcolm oversaw a period of strong growth as the company expanded both
organically and by acquisition and achieved flotation on the London Stock
Exchange. Malcolm was also responsible for the company's compliance with
corporate governance regulations and risk management. Prior to joining Greggs,
Malcolm trained as a chartered accountant with Peat Marwick Mitchell and spent
time at Procter and Gamble. Malcolm handed over the finance role in 2006 and is
currently Executive Director with responsibility for IT.

Malcolm is Chairman of the Audit Committee.

Heres what Gordon Brown had to say in his budget speech refering to Warm Front grants and energy efficiency..

Having already announced measures to speed up home insulation and to design out energy wasting products, I have been consulting with the major banks and building societies and encouraging them to create a new market - mortgages for immediate capital investment in energy efficiency that cuts consumption and cuts bills that in the end not only pays for itself but increases the sale value of the home.

To play our part, I am offering grants of 300 to 4,000 for pensioners installing insulation and central heating in their homes; will have, from next month increased by 50 per cent to 18 million microgeneration grants for homes; can confirm that until 2012 all new zero carbon homes up to half a million pounds will be exempt from stamp duty; and have asked Ofgem to examine how green homes can benefit more from the prices paid when they become not just sources of clean energy for themselves, but sell it back to the grid. ENDS.

It really does play into Eagas hand.

21st March 2007

eaga Budget response

Market-leading energy efficiency provider eaga has welcomed a renewed commitment by the Chancellor of the Exchequer to cut carbon emissions from UK homes.

Household energy use accounts for around 27% of all UK carbon emissions.
In his speech Gordon Brown said the objective for Britain was low carbon homes that would benefit the climate through lower emissions and benefit consumers through lower bills.
Last week he told an audience of the Green Alliance there were approximately 8 million homes left in the UK that would benefit from insulation, and that the Government wanted to reach them all within 10 years.

This would save 2 million tonnes of carbon each year and take around 30 off an average households annual energy bill.

Through the Warm Front scheme, managed by eaga, the Government is offering grants between 300 and 4,000 to pensioners for insulation and heating improvements to their homes. Grants are also available to homeowners and tenants who rent from private landlords who are on qualifying benefits.

John Clough MBE, eaga Chief Executive, said: We welcome this long term commitment by the Chancellor, who has put residential energy efficiency at the heart of efforts to tackle climate change.

The message is clear: insulating your home will save you money on your bills and help tackle climate change its as simple as that.

The Chancellors announcement that until 2012 all new homes that are zero carbon rated and valued up to half a million pounds will be exempt from stamp duty is also a positive step forward and raises the profile of energy efficiency.

Mr Clough said while the support for low income and vulnerable groups through Warm Front was particularly encouraging, there was also good news for the wider public with, for example, extra funding for microgeneration projects.

A 6m increase in funds was made available through the Low Carbon Buildings Programme - providing a total of over 18m to help meet the demand from households for microgeneration technologies such as solar thermal panels.

The Low Carbon Buildings Programme provides grants ranging from 400 for individual households to 1,000 for community organisations,

For more information on residential energy efficiency visit www.eaga.co.uk. To find out if you qualify for a Warm Front grant contact 0800 316 2814.

Ends

GF you old temptress - I will have to study this in more detail - looks interesting

He He, thought you might be lurking SD.

No joking I think its going to be a strong one.

Ive got the Brokers figures coming in the morning.

Ill post them.

Hi gf,

I have had a quick scan of the above report and I have to say that I'm impressed so far. Funnily enough I have a Geordie friend who has been working with Eaga in their Newcastle office for a few years. I think I will be dropping him a wee mail to ask him about his views on the co... and pending float date etc..

I wouldnt want to miss out on another possible golden opp like I did with the WNG float! I just didnt have the cash available at the time. boo...hoo...

Thanks again,

Ian

Ian, please share any info you can after your talk with your budy.

Would be much obliged.

I sure will!

Right I'm going to my kip my eyes are like dogs bawls sitting in front of this P.C!!!

Adios gf

I have read about this GF , in scsw , do you know when it floats ??..

Checked it out on Digital Look and i can't find it

Jimmy, not sure the day it floats but a pal of mine says its certainly in April.

Will try and get more info.

GF, sounds good, you are usually on the money and there is a good similarity in story with the likes of wng, so I'll be in when they float. Cheers for spotting it.

Cheers GF ,this is one i'm interested in ,,i'll keep looking as well ..

Me too.
Like it lots, GF.
Between us all we should find the float date and get it on here smartish.
alan

I've just mailed my friend @ eaga and if I obtain anything of any relevance worth posting I'll keep you guys upto date.

Have a good weekend all!

Cheers,

Ian

Thanks Ian much appreciated.

Well Ive got the figures from the broker Brewin Dolphin for the year 2007/2008 but obviously these will have to be uprated as a result of Gordons Browns budget so lets call them the pre budget forecasts for the company...

Sales for the full year are expected to be 522 million and Operating profit to be 37 million.

I think we will get a upgrade anyday from the analyst covering this one.

It says in my write up that 89% of that has already been contracted .

Is that before the financial year starts beginning of June?.

By the way just got last years figures for comparison and the forecasts show this one growing very strongly...

"We have a strong financial track record. Last year revenues were 354 million and underlying operating profit was 19.5 million".

Just image what the new upgraded forecasts will be.

Yes GF ,it says 89% is already in the bag ..Looks a fairly low risk punt to me unless the market crashes.

Thanks for bringing this to our notice GF, looking forward to float day (not the beauty queen type...................oh I don't know though).
kim

89% in the bag in the bag already.

Thats some going guys.

Its the Starting SP now that counts.

Interesting to read the company web site and realise that this one as expansion plans abroad and also expansion plans here into Sola etc, etc with a Dutch company.

International businesses - gives the Company presence in Canada, India and the Czech Republic, aiming to deliver Eaga's existing products and services into new geographies. The focus of our small Canadian operation is on the able-to-pay market. India provides new products on a small scale, to municipalities and utility companies that have international applications. Our Czech presence is represented by a small training school for heating engineers who are prepared to work in the UK where there is a shortage of skilled labour.

Three important points from the recent RNS which points to GROWTH..

eaga has a strong visibility of earnings, with an order book currently
standing at 1.5 billion, arising from a number of significant
contracts in both the fuel poverty and social housing sectors;

eaga's leading position in a largely fragmented installation
marketplace makes the Company well-positioned to take advantage of
attractive consolidation opportunities;

eaga's national delivery infrastructure is well established and
provides a barrier to potential new market entrants;


NICE..........

VERY nice!

As an observer of this excellent site for some time now , I can see that this is a classic GF post, solid no frills company, good sales ,profits and cash flow, immense scope for future growth both organic and through add ons.
Carry on the good work GF you are a very ,very nice man.

GF ,do you have any idea of the float price ,,shares issued etc ???

Not yet Jimmy. Ill post it as soon as there is word.

BB thanks for that lets hope this one is as good as it sounds, solid strong and reliable.

In the highly competitive new build sector cost is king and you need a proven renewable energy answer that delivers with the minimum of disruption.

Zen Eaga Solar gives you the lowest cost, unique and practical renewable energy solutions designed to achieve:

Cost effective solar thermal installation that integrates with most standard central heating systems. So, no change to the specification and installs in hours.
Large carbon dioxide reduction versus the installation cost. This means that you reach your green commitment quickly and more cost effectively than any other renewable solution.
The system provides more than 60% of the hot water all year round even on cloudy days and in the UK climate.
Zen Eaga Solar can also provide training to roofing companies and central heating installers to help reduce the cost of installing a solar thermal system.
We can offer as much, or as little, input as you require, but it will cost you nothing to find out more (much like our customers fuel bills).

Just got the Annual report of a builder that i am invested in and that is harping on about the challenge of a government directive that all new build homes must have a carbon neutral footprint within the next 10 years.
Another area these might profit from???
Alan

Most certainly alan and I believe tucked in somewhere on the companys sites there is a referal to this.

Hi everyone, like the look of EAGA especially with the Government's support. I did see that EAGA lost the contract for Scotland's fuel poverty programme which it had for around 15yrs - is this correct if so does anyone know why, or if it is relevant? Also has anyone seen any potential problems for EAGA in the forthcoming year?

Cheers,

WB, you have to look forward with this one.

No ones saying its the perfect company in fact it all depends on the float SP on day of deliverance.

If the underlying value is there, its a buy, a solid buy I would say but then again if pre market shannanigans take this too high on DAY ONE it might be a good idea to sit back and watch hoping for a better entry point.

Remember this Worthy Nicholls did not go off with a bang, but my goodness it made up for it afterwards.

Cheers GF.

Hi gf,

My friend got back to me the other day and unfortunately couldnt supply me with any more information than is currently already available within the public domain.

Rgds,

Ian

Cheers Ian, thanks for trying.

I think we will all have to keep a sharp eye out for the day of float.

Should be able to get that info on Digital Look GF, i can't see anything as yet though. Also kyoto has the ipo float thread ,he may dig it up.

SCrazy also feature new issues on their site.

Interesting thread, GF. Will keep my eyes peeled for the float.

Remember though its all about the kick off price.

Too high and the P/E will look too high

Too low and maniacs across the board will be buying

In between and the Market Makers will have a 'field day'

All about judgement I guess.

anyone have any further news?

Not yet steve.

Im told the float as been held up temporarily due to some legalities on a contract that have to be sorted out before admision to the market.

Oh well ,WNG was delayed if i remember ,and that turned out to be a corker..

I dont think theres any problems Jimmy.

Company just having a 'Spring Clean' before floating.

Are they still going to float in April ??

Not sure Jimmy.

Obviously not, anyone have any further news?

Just got news through from a poster on finfoex......

Float date 4/6 weeks.The issue is not ISA able.You would need to buy at issue price and transfer them to an ISA.The broker says it should go well.Asked How Well they will not say for obvious reasons.

Thanks for that GF.

The deadline for applying for these shares has now passed. You had to be a private client of Brewin Dolphin to get the new issues. They will float on the 7th June and are expected to be in the region of 180p.

did you get any GF?

Well done GF ,what do you think of the price?? i'll be having a close look at these,i read somewhere the other day that Brown's promising to pump cash in to social housing.

Steveo, no Im on a level playing field as usual.

And Jimmy Im cumulating a war chest suffice to say.

United to win I hope SATURDAY.

whats the PE gunna look like on this one after the float?

Not sure what the market cap is yet chad.

This indeed is looking like a beauty and have hopefully got some in the placing...awaiting my broker but not sure how soon before 7/6 I'll know.

gf, just from one of your old posts, my broker is telling me it is ISAable unless of course they are just handling the admin on my behalf, as naturally I want this one nicely wrapped up under the umbrella.

Just a note of caution, beware the mm's will probably mark this up dramatically on opening, as they will be licking their lips with anticipation. Unfortunately I am on holiday so will have to wait until my return as I will not be able to monitor it. Wife will kill me!!!

GH thanks for that.

Isable should make it an even bigger attraction.

I think I'll have to open at least some position, bloody typical I'm away when all this happens, should invest in a blackberry.

Todays government postponement of HIPS may well effect the float of EAGA as the legal concern seems to be about residential emissions?

Postponement only until August ,i can't see that making any difference to this float halifax.

gf, what you were saying about not in the ISA on application is correct. My broker has come back to me to say they were advised inorrectly. I have 50% of my request so will doubtless have to buy the rest in the market.

Cheers for that GH.

gf - this is still on the full list isn't it? Would like to add a tranche in the ISA when trading begins too.

Yes Greyhound, it is to float on the main market.

Thanks Jimmy for that.

A company set up with the aim of replacing the jobs of hundreds of former Newcastle miners is on the verge of a 450m stock market flotation that will hand its employees an average 140,000 payout each.

The Daily Telegraph has learnt that green support services company Eaga is imminently set to float on the official list of the London Stock Exchange.

The listing, which could be announced as early as today, will hand each of the company's 3,000 employees a significant chunk of cash and shares in the business, which is 100pc-owned by an employee benefit trust (EBT).

Ex-miners strike a rich seam of cash from 450m flotation

450m float.

A bit higher than I was hoping for.

float price 180p

I can't find anything on Digital Look about this it might be me ,they have changed their site and i don't know my way around it.... GF or Greyhound,, have you any definate figures for this one ??

Jimmy lifted from Finfoex site....

Private clients scaled back to one third at 181p.Expected to open around 200p on 7th June.As they have been scaled back and the market is holding up it may be a good thing to top up.

Father in Law got some of these through his broker, scaled back of course, 3x oversubscribed is the message.

Thanks chaps ,,i may hang fire on these for the moment.

is it still floating tomorrow, what is the EPIC please as I can't see to find it underr EAGA.

jimmy, my broker tells me float price is 180p as I've already paid for my 50% allocation. Not sure what the ticker is yet...

and I should have said there, they've already told me how many shares I have.

Ticker should be out 7 am in the morning.

I will change the present one of its not correct.

The ticker is EAGA

Good stuff.

So what do we think is going to happen to this one on the open?

It will be better for those looking to buy if they float on a bad day like it was today,,,whats going to happen ?? i havn't got a clue ,i stopped trying to second guess the market short term a long time ago :-)
I'll be watching .

Placing statistics


Placing Price 181p

Total number of New Ordinary Shares being placed on behalf of the Company 16,574,586

Total number of Sale Shares being placed on behalf of the Selling Shareholders 104,972,375

Number of Ordinary Shares in issue immediately following Admission 250,259,337

Percentage of the enlarged issued ordinary share capital the subject of the Placing:

New Ordinary Shares 6.6%

Sale Shares 41.9%

Market capitalisation at the Placing Price 452.97m

Estimated net proceeds of the Placing receivable by the Company 25.45m

Thanks for that Micky

Now got my second tranche in the ISA nicely tucked away.

Well I've joined this circus.
Sorry guys if its the usual Alan touch and its all downhill from here!!!
Alan

Blimey what a stormy start and just look at thos e sells althought it is 218p way above the placing price of 181p.

Looks to me like it could be the employees of the company who are all share holders taking a quick profit in anticipation of the holiday season.

It reminds me of the gas and electric and other privatisation jobs under maggie.

Just watching at the moment.

Opened at 225p I see.

A few funds booking a healthy immediate profit I imagine. Steadily picking back up from the 210p level.

I'm in .

I tried 3 times to buy with Hoodies online and they wouldn't deal---did me a favour as the sp was plummetting so I'm now sitting on the sidelines for a bit waiting for the dust to settle!

Still watching as I did with WNG after I picked some up pre float.

All about timing, I guess.

8 million buys, against 20 million sells. Not TOO good a start.

Don't rely on the buy/sell info - it's not accurate. That said heafty first day volume.

I bet those that picked them up at 181p think its been a good start LOL.

GF

I think it will fall further. A lot of profit taking going on. I'm sitting on the side at the moment untill things settle down.

MS

Surely there was always going to be a certain amount of hype at the beginning?
This BB started in march, 3 months before the float, which shows how much interest there was.
I agree with mickey. I think it's best to watch the sp settle before jumping in. Might be a 'corker like WNG' or a bit disappointing like GTL.

Im watching.

No more than that.

Same as WNG delivered me 250% plus very quickly.

I'm watching too GF ,i didn't like the market conditions this morning,i think this could be the correction we've been waiting for ,(no more than that though) ,i don't think it's a market crash on the way like some do. WNG did the same for me as you know ,and i will be buying back in to Worthington if we see a deeper correction.

Picking up nicely in these turbulent markets. I wonder how long before some of the acquisition cash is put to good use?

Well it caught me off guard this afternooon turnining positive.

same for me , i'm watching the market as a whole .

Today tomorrow and next week are irelevant. Next 6 -18 months is where the money will be made , good luck to anyone picking the bottom ... better man than me.

Regards

Rumour mill says this has been tipped by SCSW over the weekend.

SCSW first talked about it earlier in the year and have wanted to add once floated. The float was delayed owing to audit issued about whether carbon credits are intantigle assets or not. Anyway, it's their main buy recommendation.

Good stuff.

Thats the MM's wacking it up first thing then !!

Just as i said ,opened nearly 10% up

Looks to have settled though Jimmy.

Well for the time being.

It's annoying though that they do that GF.

It is just early days, jimmy, EAGA has lots of potential.

Yes i know that ,it's just a pratice that i highlighted on another thread and it's annoying. I'm sure EAGA has a long way to go.

jimmy, there was demand at the open following the weekend tip, nothing unusual.

Greyhound ,,that's obvious, and when a share is tipped it often goes up ,but the MM's open it up on the monday before people have a chance to get in ,,in this case it was opened up about 8.5 % they always do it with a couple of tip sheets i know of . However i agree EAGA looks a good hold .Cheers Jimmy.

gf, jimmy, have you bought into this yet?

Greyhound ,no i havn't ,i bought in to a couple of others (short term) ,i think it opened up a bit too much for me ,i'm watching this though and may get in later.

Got three tranches now.

I think more tip sheets will cover it in the very near future.

I tend to agree and hearing about contracts in higher margin work that may be forthcoming before too long. Shall be checking Sun. Tel. and others later to see if this gets a mention.

Positive today.

So there's our first acquisition since the float adding to their capacity and increasing the customer base bringing along local authorities which should prove lucrative contracts going forward. Onwards and upwards.

Eaga buys heating installation company RG Francis for up to 11.2 mln stg
AFX


LONDON (Thomson Financial) - Residential energy efficiency provider Eaga PLC said it has acquired Essex-based heating installation and repair company RG Francis Ltd for up to 11.2 mln stg.

Eaga said it bought RG Francis for an initial 9.6 mln stg, with a further 1.6 mln stg payable based on its performance for the year ended Sept 30.

RG Francis recorded turnover of 13 mln stg for the year ended September 2006 and has 120 employees.

Eaga chief executive John Clough said: 'RG Francis extends our national footprint in this sector by cementing our foothold in London and the South East.'

tf.TFN-Europe_newsdesk@thomson.com

ndi/ndi/ra

Eaga buys heating installation company RG Francis for up to 11.2 mln stg - AFX


LONDON (Thomson Financial) - Residential energy efficiency provider Eaga PLC said it has acquired Essex-based heating installation and repair company RG Francis Ltd for up to 11.2 mln stg.

Eaga said it bought RG Francis for an initial 9.6 mln stg, with a further 1.6 mln stg payable based on its performance for the year ended Sept 30.

RG Francis recorded turnover of 13 mln stg for the year ended September 2006 and has 120 employees.

Eaga chief executive John Clough said: 'RG Francis extends our national footprint in this sector by cementing our foothold in London and the South East.'

tf.TFN-Europe_newsdesk@thomson.com

Broker report research....

http://www.hoodlessbrennan.com/stock-research-prices/research/?cid=129485&EntryId=7549

Click on the PDF file.

Thanks goldfinger - very comprehensive and bullish report from hoodless brennan on EAGA.

Looks like a very good read indeed, had a quick scan but will take a more detailed look on the tube.

does EAGA pay a dividend?
Alex

Alex, not last year, not sure what they will do this year...

http://investors.eaga.com/eaga/uploads/finreports/EagaPartnershipLtd.pdf

Positive from the off.

Finally ticking higher gf. How long before we see some contract wins I wonder.

Positive update today to see trading is in line with expectations.

Cant be long GH,, looks like we could be on our way...

Eaga plc
06 July 2007



eaga plc - Pre-close Trading Update

6 July 2007


Pre-close trading update


Support Services group eaga plc, a UK market leader in the delivery of
residential improvements in the environmental, social justice and energy
efficiency arenas, is pleased to provide the following update on trading in
advance of the announcement of its results for the year ending 31 May 2007 and
prior to entering its closed period.


eaga has traded in line with Directors' expectations as set out at the time of
the Group's flotation in June 2007. The Group will continue to focus on its
strategy for growth during the coming financial year, the first element of which
was the recently announced 11.2 million acquisition of south eastern based
social housing heating installation and repair company RG Francis.


John Clough MBE, eaga plc Chief Executive, commented: 'I am pleased to report
good progress across the business. Following our successful flotation on the
Official List of the London Stock Exchange on 7 June 2007 we are also well
placed to pursue further growth in our core markets'


eaga is scheduled to announce its preliminary results on 6 September 2007.


ends



Contacts:


eaga plc James Grugeon, Director of Corporate Communications
+44 191 2458342


Brewin Dolphin Graeme Summers +44 191 279 7531
Securities Andrew Kitchingman +113 241 0187

High time we started heading higher here especially after our recent acquisition of RG Francis and a trading statement in line with expectations. Perhaps an update before too long on new contract wins?

Some buys just appearing - have we been mentioned in IC or somewhere I wonder?

Been a bit quiet. Novice to this lark so forgive the question.. but is it a just a case of hold (I do at 218p) on ?

Not long before the results (6th September).

Certainly expect it to liven up afterwards (if not before !!)

Ian

Decent results out today.

Yes, so let's hope we start to see a little upward momentum. And I suspect more acquisitions will be added to the fold in the coming months.

I hope for the acquisitions, because (though I don't understand it) I am told that a company with net assets and no debt is a little open to being bought out.

Sell out of EAGA at 182p...it has no substance and starting to weaken. Believe me, it is not the float of the year.

Well after today's statement and even in the current climate, trading expectations are in line. This should still be a very good long term hold and clearly they are looking at new contracts and acquisitions. Sentiment will turn.

Acquisitions of 3 wall insulation companies. Expected to be earnings enhancing immediately, all adding to the cash generative nature of the business. Still a strong buy and good medium/long term gains in my opinion.

Slowly starting to edge a bit higher here. Not flavour of the month but good to acquire while it's less popular.

Bit of a turnaround from yesterday's fall and on a red day. Maybe finally bottoming out here.

EAGA is a clear sell at 173p...the bottom is still not reached as seen from the graph. In 2008, it will approach 100p.

On a slide at 158p now. This is a good SHORT.

But you've ignored the fundamentals by picking an arbitrary 100p. There are plenty of stocks taking a hammering, more market specific rather than stock specific. Good long term hold. And the volume is nothing to talk about.

I am SHORTING - not a long -term holder of EAGA.

AGM earlier, trading statement to reiterate all in line with expectations. Nothing fundamentally wrong here in my opinion, so sticking with it

Nicely back at the float price. A lot of shorts getting closed and having spoken to a few others today I feel reassured that the we're well placed going forward.

Picking up nicely today, looking as though this is bottoming out now.

Nice early rise again and I reckon we'll be heading higher now for good. Good support company and tax free gains.

This has been very volatile of late and remains in down trend but recent statement confirms trading is in line with expectations. Rebounding nicely now and perhaps we'll start to break out of this down channel.

Looks like the shorts are getting squeezed and/or news imminent. Either way I still hold it's cheap at this level and post Feb interims it'll be a lot healthier.

Dept for Environment announces that funding fro Warm Front Scheme will exceed 800m over next 3 years - additional 300m commitment.

Eaga sees significant increase in potential pipeline.

good day.

The slide is beginning now.

Nice rise of 5% to finish the year with. Onwards and upwards hopefully in 2008!

Got this right...good short.

Its not great is it..

Good interims today.
I just worry sometimes when I look at yesterdays trading that something gets out before we see it.

Eaga today said its first-half pretax profit rose to 14.5 mln stg from 9 mln boosted by a mix of organic growth and acquisitions, as the scale of environmental challenges is becoming more visible.

Eaga said its financial year continues to develop in line with its expectations, with the full-year outlook unchanged. Its aim is now to leverage its business position, delivering strong organic growth as well as acquisitions where appropriate.

The 'green' support services company announced an interim dividend of 1 pence per share.

Looks good to me and perhaps now we'll reverse the trend. KBC Peel Hunt also come out with buy rec.

They do have a lot of promise and are in a good industry at the right time. So it would be good to think that the bottom has been reached.

Nice to see strong director buying. Perhaps not long before we break above this down trend.

As per Greyhound's post - very encouraging and another sign that the bottom may have been reached:

Eaga said chief executive John Clough acquired 67,000 shares at 149.25 pence each, lifting his stake in the company to 6.34 mln shares or 2.5 pct. The company also said finance director Ian McLeod and commercial director Drew Johnson acquired 67,000 shares each at 149.25 pence apiece, taking their holding in Eaga to 5.08 mln shares or 2.0 pct each.

Very broadly speaking, over 160p and we're breaking out of this downtrend. At 160p we would also have a nice inverted head and shoulders, a break then signifying higher levels. Still a very good hold in my opinion particularly as the fundamentals are very good, if not yet it's popularity.

Chicken & Egg but as the SP rises the popularity will grow!

Float of the year - huh! - this was obviously overpriced at floatation ( about the start of 2007 ), ansd just where is this company adding value?
Of course it isn't - it shifts grant from Government to low-income pensioners - note that's NOT low-income families....the way I read it.

The clue was in the Prospectus, that the employees' investment scheme wanted out! Normally they would be investing at floatation time, having maybe a small discount, then a lock-in clause and with the business doing well would reward them and Retail Investors ( ie Us!).

I don't believe this business adds any value - it is a scheme to launder Public Money - OK that may be a bit strong, but they won't install insulation or central heating for free - they will want a profit and the risk is that they will employ the cheapest contractor, who in turn owes no contractural duty to the pensioner - so all manner of "short-cuts" can be perpetuated, also with the knowlesdge they may not live until the G'tee runs out ( or is that "luck"?). It would be far better for Government to offer a direct contract, avoiding this "middleman" business.

Furthermore I'm not sure that "central heating" is really the way we should be going - since heat-loss ( and therefore carbon), is a function of surface area and temperature difference. The more room you heat, the greater the heat-loss and of course the higher the temperature-setting...! Therfroe we should be cutting down on central heating - by heating "sitting rooms" and using heated blankets in our bedrooms we could hugely reduce our energy consumption (and Cost). I';m not sure that low-income homes (or pensioners) should be increasing their spending by installing central heating.

By heating washing water "as required" there is a huge saving in consumption since the alternative is to have a hot-tank constantly full ( and losing heat 24/7 ) - this represents a huge cost over a year ( although obviously more in the winter). . . . . yet there are relativly few cheap water heaters, that look hardly better than something designed in the 1920's.

What do others think?

The sheme is a vote winner!

More Director buying shows continued confidence:

Eaga said nonexecutive director Malcolm Simpson bought 25,000 shares in the company at an average price of 149.94 pence per share on Jan 29. Following the deal, Simpson is interested in 58,149 shares representing 0.23 pct stake in the company.

New buy rating by Panmure

Eaga wins BBC Digital switchover contract. That should see further gains now.

A constant flow of good news at the moment is certainly encouraging. No surprises that Directors are snapping up stock.

I bought a few this afternoon.

Welcome to the environmental services party mitzy! Good to see you're already in the blue with this morning's small sp rise :-)

About ime i had a winner Q.

I know, I've been feeling a little like that lately although I'm currently in Portland Gas (PTG) which is on a storming run at the moment! Otherwise there's been a lot of red on my screens.

Tell me about it I've held MMG for 7 years and down 50% in one day...

Nightmare! Sometimes it makes you want to give it all up and plough your money into growing cucumbers.....

Good to see EAGA responding positively today after what I can only assume was a bout of profit taking yesterday.

A good day maybe 200p this week.

Yes it would be nice for those who bought shares when EAGA was floated to be able to get their money back.What is the future for this type of goverment subsidised company if the Conservatives ever get back into power?

I still think the demand is there halifax and it wouldn't be the first thing on their agenda to change. I also think that one of the large energy firms may snap up EAGA well before that.

Well I can see we continue to rise here whilst I've been sunning myself for a couple of weeks.

Halifax, I tend to agree with Queen's comments. Also think we'll continue to see bolt on acquisitions here and increasing contracts making earnings more visbile.

I was just thinking ahead to the possibility of a change of emphasis in goverment spending which will have to be reined in with a slow down in the economy and how this would impact io companies largely dependant on goverment subsidised activities.

What the hell is in here that merits a 24% drop this morning????

Eaga said its third-quarter profitability was in line with its expectations as revenues increased significantly compared to last year. The residential energy efficiency provider said some challenges continue to impact its fourth quarter, but the overall business is broadly on track to achieve its current-year expectations.

With record volumes of work coming throughout the business and a balance sheet that offers scope for further expansion, its prospects remain strong, it added. The company said despite challenges its social housing business will improve over the coming months with long-term outlook remaining positive.

While increase in operating cost due to pressure on commodity pricing, particularly vehicle fuel and copper, would be addressed through commercial discussions, though there is a time lag in the process, Eaga said.

queen the final para is a disguised profit warning.

Not based on the rest of the statement it isn't halifax.

Totally overdone. Saying to myself wait a few weeks and we'll be where we were. Seen it all before.

What happened today.

Looks like more weakness on the way for EAGA...increasing operating cost and commodity price not favourable for it...100p on the way

Sorry but I think that's rubbish hyleo98. I may be proved wrong in time but even if costs are rising it's picking up more & more business and will be able to pass on a lot of those costs. It may not breach 2 this year but I think it'll end the year nearer that mark than 1. As Greyhound says, today's negative reaction was totally overdone.

We will see, queen1, I hope you haven't forgot the advice I gave you on AGC.

Who could forget those gloating posts every now and again. Must make you feel really special.

Seems to be a fair bit of director buying at the moment.

And in fair size too.

Queen1, sorry to remind you

Life's not worth living hlyeo98 without you sticking in falling knives.

I'm trying to save you from falling knives, queen1

How very altruistic.

100p now...was that all rubbish I was talking above?

Oh shut the f**k up.

Well I'm still sticking with it. The fundamentals aren't bad. Directors buying at these cheap levels. Fuel and bills rising and more households requiring Eaga's services.

Hohoho...the vulgarity is coming out.

Well that's a shocker - I didn't realise you could spell '98.

I agree Greyhound. The market they're in and the current turmoil in household energy heavily suggest that EAGA will turn this around. And if they don't you and I will be joining the Directors in losing some cash. But if this happens be prepared for smug and snide comments from other posters who seem to live to laugh at others.

EAGA will be relegated from FTSE 250 in due course.

What a placing! Brewin Dolphin must have laughed all the way to the bank!!

It is losing its grip on the 100p level...prepare for another slide.

Goldfinger got this one right when he compared it to WNG in the heading!

Halifax, I guess EAGA did not 'float' because of Gordon Brown...LOL

And also Gordon Brown is the least popular prime minister in British history according to the polls. What a nerd!

Eaga raised to buy from hold at Citi.

Trading in line, cheap, cheap cheap!

Good to see they've appointed JPMorgan Cazenove as joint broker too.

More importantly, they must be one of the very few who talk about next year in terms of confidence and strength.

positive results out today, with a positive outlook for next year.

hlyeo98 on 11th June wrote: "It is losing its grip on the 100p level...prepare for another slide." As usual, how very insightful. But I'm not sure a 60% rise in the share price in less than three months qualifies as a slide. And the future's looking good as well:

Eaga swung to a full year pretax profit and said it is confident that the company will continue its growth and make substantial progress in the year to May 2009. For the year to end-May, the green support services company reported a pretax profit of 28.4 million pounds from a loss of 87.4 million pounds, a year earlier as revenues grew 32 percent to 639.0 million pounds. Its balance sheet remains net cash positive.

Chairman Charles Berry said: 'With the scale of environmental challenges set alongside wider global economic pressures, advancing technological change and growing social need; the opportunities for Eaga are both significant and long-term. The drivers within Eaga's core markets remain positive.'

The company has declared a final dividend of 2 pence per share, giving a total dividend for the year of 3 pence per share.

showing life again up 13.5p....