http://www.crystalox.com/

With 25 years in solar technology development, PV Crystalox Solar is a leading manufacturer of multicrystalline silicon ingots and wafers, the key component in solar power systems.

Its customers, the world's leading solar cell producers, combine these wafers into solar modules to harness the clean, silent and renewable power from the sun.

PV Crystalox Solar is playing a central role in making solar cost competitive with conventional hydrocarbon power generation, and as such continues to seek to drive down the cost of production whilst increasing solar cell efficiency. The gap between the cost of solar power production and utility energy is decreasing year on year.

With a long history of production with high growth and profitability, PV Crystalox Solar is well placed to benefit greatly from the rapid growth in the solar energy market

London, United Kingdom: PV Crystalox Solar Plans Listing on London Stock Exchange

PV Crystalox Solar, a producer of solar-grade silicon products for solar electricity generation systems, today announced its intention to proceed with an initial public offering of its ordinary shares, which are intended to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

JPMorgan Cazenove has been appointed as sponsor to the Company and global coordinator and sole Bookrunner in relation to the offer. Jefferies International Limited has been appointed as co-lead manager.

PV Crystalox Solar, initially established in the UK in 1982, is a highly specialised supplier to the worlds leading solar cell manufacturers, producing multicrystalline silicon ingots and wafers for use in solar electricity generation systems. The Group was one of the first to develop multicrystalline technology on an industrial scale, setting the industry standard for ingot production.

PV Crystalox Solar manufactures silicon ingots in Oxfordshire, United Kingdom, with the majority of its output shipped to Japan, where it is sold either as ingots or as wafers after processing by a sub-contractor. The balance of the Groups ingots are processed into wafers for European customers at the Groups facilities in Erfurt, Germany. The German operation is constantly developing the Groups wire saw technology for the production of thinner wafers.

PV Crystalox Solar has strong, long-established relationships with major solar cell manufacturers, including Sharp and Schott Solar. The Group does not compete with its customers and is therefore able to work closely with them to improve wafer quality and minimize costs.

By focusing purely on the production of solar-grade silicon products, the Group benefits from the higher margins available to companies in the upstream of the photovoltaic value chain, where there are fewer competing manufacturers and higher barriers to entry.

PV Crystalox Solar has an established record of delivering strong financial performance. The Group recorded revenues of 242m for the year ended 31 December 2006, an increase of 32% (31 December 2005: 183m) and a 56% increase in Group pre-tax profits to 49m (31 December 2005: 31.3m)

In 2006 the Group produced silicon wafers and ingots corresponding to a solar electricity generation capacity of 215 MWp. As at the end of 2006 the Group had available production capacity equivalent to 288 MWp and employed around 200 staff.

Iain Dorrity, Chief Executive Officer, PV Crystalox Solar said PV Crystalox Solar has a long and successful history as one of the worlds leading manufacturers of solar-grade silicon products. Over the last five years we have been consistently profitable, trebling our sales and continuing to grow our margins. We look forward to listing on the London Stock Exchange, which we believe will further enhance our ability to grow the business.

The Group is proposing to build its own polysilicon production facility in Germany to secure an additional source of feedstock. The Directors believe that in-house polysilicon production will provide greater flexibility in sourcing its silicon feedstock. PV Crystalox Solar expects the facility to commence operation in 2009 with an initial planned production volume of 900 metric tonnes in that year, rising to 1,800 metric tonnes in 2011
http://www.solarbuzz.com/news/NewsEUCO396.htm

Yep, rain in Oxford this week. I hope that helps.

Cheers Dai most helpful :-)

Nice gains today so far, perhaps benefitting from ReneSola.

Closing at new highs today. I suspect it won't be too long (late July) when we'll see some broker recommendations. Big divergence today from ReneSola which has fallen some 4.4%.

Anyone got any forecast earnings ?

Another fast rise so far this morning, up another 8% and this is just the beginning I hope. Medium term this could be a nice multi-bagger.

Greyhound, I told them to watch this space but they didn't listen! :-). I owe you one. Thanks.

i am hare.

After yesterday's gain only reasonable to expect some retracement - nothing goes up in a straight line. It's still very early days and on the initial float we didn't see a runaway share price. Personally I think it's onwards and upwards here, even now as I write the price coming off its earlier lows.

Hoodless Brennan prefer you to deal on-line because they make more money out of you that way. e.g.,Whenever I try to sell I find I can only do so in 500 share batches, which brings them 4 x commission on the 2,000 shares I try to sell as a norm. Seems a costly exercise for a " low-cost " service. This, is in-spite of 2,000 shares being the obligatory
service that the MM's are obliged to accept.

I prefer to use traditional brokers and speak to people. For higher risk stocks I hold you want to be able to deal (either up or down), should you need to while those online are fiddling to try and get done in small volume. My own preference - costs more, but pays for itself.

Kito if you telephone them they will often sell larger quantities than you can sell online. They are very frustrating I agree--that's why I do a lot more on my selftrade account for bettter results.

What does the last RNS mean: I'm confused

Announcement of Exercise of Over-Allotment Option

PV Crystalox Solar Plc announces that, in connection with its initial public
offering of ordinary shares, (the "Offering"), JPMorgan Cazenove Limited, as
stabilising manager and on behalf of the underwriters of the Offering, has today
given notice to exercise in full the over-allotment option in respect of
19,089,995 existing ordinary shares at the offer price of 130 pence per ordinary
share. None of the proceeds arising from the exercise of the over-allotment
option will be payable to the Company.

Following the exercise of the over-allotment option, 188,081,886 ordinary shares
will be held in public hands, representing a free float of approximately 45.1
per cent of the issued share capital of the Company.

I'm probably not going to explain this very articulately, however my understanding is that on a float they can issue more shares should the main broker choose to, effectively to stabilise the price. I recall there being some 6 week time frame in being able to do this or something?? Ultimately I see the effect being as increasing supply as a means of holding back the share price. Hope that helps.

I've taken another tranche here.

Thinking of adding some more myself.

I added yesterday @155 but got worried in the evening as I was confused by the RNS. All looking good this morning.

green shoe Definition

A provision in an underwriting agreement which allows members of the underwriting syndicate to purchase additional shares at the original. This is a useful provision for underwriters in the event of exceptional public demand. The name comes from the fact that Green Shoe Company was the first to grant such an option to underwriters. also called overallotment provision.

This would also go some way in explaining why in the initial days of the float the price didn't run away and we had the ability to get in as near as damn it at 130p

exceptional public demand--I like the sound of that!! patience needed.

if there is "exceptional public demand" then sp should be doing (even) better ...... do wish "the public" would get their buying boots on, especially if they are potential ex-holders of SOLA!