![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Greenhouse | LSE:GHF | London | Ordinary Share | GB00B0T2CP59 | PARTCIPATING SHS NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6663T Greenhouse Fund Limited (The) 26 March 2007 For immediate release 26 March 2007 The Greenhouse Fund Ltd ("Greenhouse" or "the Company") Independent Engineering Report on Molectra plant received and Additional investment in Molectra Technologies Independent Engineers report on the Molectra process The Directors of Greenhouse (AIM:GHF) are pleased to announce that they have received an independent engineers report on the Molectra process that confirms management's initial estimates for both capital and operating costs for a full-scale plant and strongly endorses the economic and commercial viability of the Molectra process. Following the start of production at the Molectra pilot plant in Brisbane Australia, announced on 15 February 2007, Greenhouse commissioned a report from Wiley & Co. ("Wiley"), to analyse all aspects of the plants operation. Wiley is an internationally renowned engineering firm which was involved in the construction of the plant from inception. The aim of the report was to examine the construction, commissioning and operation of the pilot plant, and crucially, the operating and capital costs associated with the ten-fold scale up from pilot to full-scale plant. The Wiley report strongly endorses the economic and commercial viability of the Molectra process. This full-scale plant is designed to process c.2.6 million tyres per year or 26,000 tonnes, which is ten-times the capacity of the current pilot plant. It is anticipated that a full scale plant will cost c.#6 million to build and take c.12 months to construct. Based on the Wiley report, the Directors expect the operating cost associated with processing this volume would be c.#70 per tonne. Various target sites outside Sydney in New South Wales, Australia, are currently being considered for the full-scale plant, and further announcements will be made in due course. Additional investment in Molectra Greenhouse also announces it has invested an additional c.#1.2million in Molectra Technologies Pty Ltd ("Molectra Technologies") in cash via a convertible note. The convertible note is unsecured, cannot be redeemed for a cash alternative, and must be exercised before 31 December 2008. Upon conversion, Greenhouse would receive a 39% shareholding in Molectra Technologies. Greenhouse can alternatively elect to redeem the note for 39% of the assets of Molectra Technologies, which redemption would translate into a 26% stake in Molectra Australia Pty Ltd ("Molectra Australia"). Greenhouse already has the right to acquire 32% of Molectra Australia, so the note gives Greenhouse the right to acquire in total a controlling 58% stake in Molectra Australia. The investment also gives Greenhouse the right to appoint two directors to the board of Molectra Technologies with various controlling rights. The funds will be used to repay existing debts and will provide additional capital for the pilot plant through 2007 to develop further the process and ensure the plant becomes an international showcase site for Molectra's technology. Preliminary results It is anticipated that Greenhouse's preliminary results for the year-end 31 December 2006 will be issued in early April 2007. Greenhouse Chairman Nigel Wray commented, "The Wiley report is a significant validation of the Molectra technology and its economics. The additional investment gives Greenhouse the right to acquire a majority stake in Molectra Australia, which I believe will be of very considerable strategic and economic benefit in the future for Greenhouse's shareholders. Molectra now represents a valuable investment for the Company and I look forward to announcing further developments as Molectra's technology is taken to its next stage of operation." For further information please contact: Paul Gazzard, Greenhouse Advisor Ltd. Tel: 0207 355 7660 Email: pg@greenhousefund.co.uk Charles Ryland/Ben Willey Buchanan Communications 0207 466 5000 Email: charlesr@buchanan.uk.com Email: benw@buchanan.uk.com This information is provided by RNS The company news service from the London Stock Exchange END MSCKGGZFLKGGNZM
1 Year Greenhouse Fund Chart |
1 Month Greenhouse Fund Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions