29th Nov 2007 07:01
Nature Technology Solutions Limited29 November 2007 Nature Technology Solutions Limited ("NTS" or the "Company") Proposed sale of Gibraltar joint venture interest The Directors of NTS are pleased to announce that they have signed a Letter ofIntent with a substantial Mediterranean based oil waste group for the sale byNTS of its 50% interest in its Gibraltar based joint venture Slop Oil Receptionand Treatment Limited ("SORT"). The proposed consideration payable to NTS is $6million in cash. Due diligence is currently underway and completion is expectedto occur within 60 days. The Directors of NTS consider that the sale of the Company's interest in SORT onthese terms would be an attractive realisation of the investment bearing in mindthe likely recurring earnings of SORT and will be at a significant premium tobook value. A further announcement concerning the disposal will be made upon the signing ofthe definitive sale and purchase agreement and a circular will be sent toshareholders upon completion of the sale as the Directors are considering thereturn of funds to shareholders in respect of some element of the cash proceeds. Enquiries: Nature Technology Solutions Limited 01841 533 611Richard Eldridge, Chairman Seymour Pierce LimitedJonathan Wright 020 7107 8000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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