Neos Resources Supplies 200 Tons UCO to Global Energy Group

LONDON--Neos Resources PLC (NEOS.LN), which produces, sources, processes, transports & finances non-edible crude oil & non-edible oil seed cake products in the Indian and S.E. Asia markets, said Friday it has successfully sourced and supplied 200 tons of Used Cooking Oil, or UCO to a global energy group for which it has received an undisclosed commission.

MAIN FACTS:

-Company has also now contracted to supply a further 500 tons of UCO.

-Company has received indicative terms for a $2.7 million trade finance facility from S.C.C.F. Structured Commodity and Corporate Finance S.A.R.L in order to fund the anticipated increased supply volumes.

-Neos' wholly owned subsidiary, D1 Oils Trading Ltd., has reached an agreement with BP International Ltd. to reduce the deferred consideration payable to BP International in connection with the acquisition by D1 Oils of 50% of D1-BP Fuel Crops Ltd. from BP International.

-BP International has agreed to accept 150,000 pounds in full and final settlement of the obligation to pay the remainder of the deferred consideration, which D1 Oils has Friday paid.

-Shares at 1240 GMT up 20% at 1 pence valuing the company at GBP1.16 million.

-Write to Ian Walker at [e-mail]

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