Cancellation of ordinary shares held by Company

15 April 2015

Hydrodec Group plc

("Hydrodec", the "Company" or the "Group")

Cancellation of ordinary shares held by the Company

The Board of Hydrodec announces the cancellation of the 56,673,333 ordinary shares of 0.5p each of the Company held by it (the "Cancelled Shares") with effect from 17 April 2015.

The Group has treated the Cancelled Shares as if they were treasury shares since the Company acquired Virotec International plc in 2008. The cancellation follows the liquidation of a number of dormant subsidiaries within the Group structure which relate back to that transaction.

The Cancelled Shares have been excluded from the total number of issued shares with voting rights reported by the Company since 2008 and have been similarly excluded in any 'per share' calculation used in the Company's financial reporting. 

Consequently, following the cancellation, the Company's issued ordinary share capital, with voting rights, will remain unchanged at 746,682,805 ordinary shares. This figure should continue to be used by shareholders as the denominator for calculating if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

Notes to Editors:

Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. Spent oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic additive banned under international regulations. Hydrodec's plants are located at Canton, Ohio, US and Young, New South Wales, Australia. In 2013, Hydrodec acquired the business and assets of OSS Group, the UK's largest collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, with a national network of oil storage and transfer stations, currently serviced by a fleet of more than 90 trucks which collect used oil and other garage workshop waste from over 30,000 customers. Used oil is converted into processed fuel oil at OSS's plant at Stourport and principally sold on to the UK quarry and power industry. In line with our stated intention to develop a base oil re-refinery in the UK, we have an exclusive licence agreement with California-based Chemical Engineering Partners (CEP) to develop the CEP wiped-film evaporation and hydrogenation technology in the UK as well as the basic engineering for a 75 million litre per annum capacity base oil re-refinery.

Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.