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NSO Nature Tech

9.125
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Nature Tech LSE:NSO London Ordinary Share JE00B3B5FZ40 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 9.125 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Update on disposal & training

20/03/2008 4:25pm

UK Regulatory


RNS Number:6266Q
Nature Technology Solutions Limited
20 March 2008


                      Nature Technology Solutions Limited
  Termination of sale discussions involving the Group interests in Gibraltar

              Possible expansion of oil waste reception locations

The Directors of Nature Technology Solutions Limited ("Nature" or the "Company")
have agreed to terminate negotiations for the sale of its 50% interest in Slop
Oil Reception and Treatment Ltd ("SORT"), a successful joint venture in
Gibraltar built up over the last 5 years. This termination has been caused by
the proposed ongoing shareholders being unable to agree future operating
procedures rather than any failure in the due diligence process relating to the
proposed $6m transaction.

Meanwhile, SORT continues to trade according to management's expectations. In
particular SORT is seeking to expand operations outside the immediate environs
of Gibraltar to take advantage of the significant increase in the company's
treatment capabilities and tank storage (from 1000 tonnes to over 6000 tonnes in
the last two years). To this end, SORT is exploring opportunities to establish
satellite operations linked to the facilities in Gibraltar. With its internal
investment programme almost complete, SORT paid its maiden dividends to
shareholders in 2007 and it is expected that the joint venture will continue to
be a significant contributor to Group cash flow.

After some years of considerable endeavour to establish other Nature treatment
locations in Europe, the Middle East and elsewhere, the Directors believe that
2008 will create opportunities for at least one new potential operating base by
the end of the year.

The deployment of equipment in Norway to commence treatment offshore also
continues to be a priority for the Group.

As announced on 5th February 2008, the results of the Company for the year ended
31st December 2007 will reflect its increased activity in 2007 and are expected
to show an improvement in profitability over last year.
For further information, please contact:

Nature Technology Solutions Limited
Richard Eldridge, CEO Tel: 01841 533 611
Nigel Sandy, Director Tel: 01373 473995

Seymour Pierce Limited
Jonathan Wright, Director Tel: 020 7107 8000




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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