18th Apr 2006 09:02
Nature Technology Solutions Limited18 April 2006 Nature Technology Solutions Limited (the 'Company') Issue of Equity & Trading Update The Directors of Nature Technology Solutions Limited completed arrangements on13 April 2006 for a placing of 44,000,000 new shares of nominal value 0.01peach, at a price of 0.5p per share, in order to raise £220,000 before costs. Theshares are being placed with private and other investors. The share capital inissue after the placing will be 439,593,384 shares of 0.01p each. The following directors of the Company are taking part in the placing: Director Shares Share interests Per cent. of total following placing issued share capital Richard Eldridge 800,000 21,901,554 4.98%Einar Gamman 1,000,000 1,042,600 0.24%Peter Snell 1,000,000 8,940,000 2.03% In addition, House of Italy Limited, of which Mr Snell is a director and has aminority interest in, is taking part in the placing with 2,000,000 shares. The Company has received two orders for installations of treatment equipment asannounced in the preliminary results statement recently. Whilst the Groupcurrently has considerable cash funds in its subsidiary Northern Treatment AS,these are allocated to completion, trials and commercial launch of the on-rigcontainerised treatment module for the offshore oil industry, which treatswastewaters towards the zero discharge standard required now offshore Norway,with expectations that such standards will be looked for in other offshorelocations in due course. The Directors feel that the intensive work program forthe Company for the next six months should be undertaken with additional cashresources in place. An application for the new shares will be made to AIM. Admission is expected totake place on 24 April 2006. - Ends - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Nature Group