7th May 2008 07:00
TEG Group (The) PLC07 May 2008 For release 7 May 2008 The TEG GROUP PLC (TEG) ("TEG" or "the Company") Grant of options The TEG Group PLC, the AIM-listed cutting edge green technology company, whichconverts organic wastes into natural organic fertiliser, announces that theCompany granted 96,577 options exercisable into Common Shares on 6 May 2008 toTanja Willis at an option price of 70p per share. The options vest after aperiod of three years and have a life of 10 years from the date of grant,subject to continued employment. Full details of the remaining outstanding shareoptions are disclosed in the Company's annual report and accounts. ENDS Contact: The TEG Group Plc Tel: 01772 314100 Michael Fishwick, Chief Executive Adventis Financial PR Tel: 020 7034 4758 Tarquin Edwards Canaccord Adams (Nomad) Tel : 020 7050 6500 Robert Finlay Editor's Notes: TEG TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product (ABP) waste. Planteconomics are predominantly driven by the gate fees charged, rather than thevalue of the end product (compost). The TEG process is an economic alternativeto landfill. The Silo Cage system, one of the few technologies in Europe capable of treatingthis waste, is a natural process producing compost as an end product, used as anexcellent soil conditioner that fertilises, retains moisture, provides structureand reduces the incidence of plant disease. TEG's Silo-Cages are housed inself-contained buildings, are not unsightly and are environmentally friendly. Customers include local authorities, waste management companies, foodprocessors, farmers and landowners. The Company's expanding market is driven byincreasingly stringent EU and UK legislation regulating the treatment anddisposal of organic waste. Statutory targets for the diversion of waste fromlandfill increase annually through to 2020, increasing TEG's market opportunityyear on year. The Waste Resource Action Programme estimates that 450 compostingplants will be needed by 2020 to satisfy local authority requirements alone, andthere is increasing demand from the private sector driven by ABP legislation. NOFCO is a marketing company specialising in the development of end markets forcompost products, an important aspect of all plant developments and key to localauthority development. The company has an expertise in the development ofagricultural and horticultural markets and this capability is to be provided tocustomers to enhance TEG's overall service offering. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TEG.L