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Name | Symbol | Market | Type |
---|---|---|---|
Sparkco2etcsec | LSE:CO2P | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-68.00 | -1.24% | 5,437.00 | 5,364.00 | 5,510.00 | 5,741.50 | 5,355.50 | 5,477.00 | 1,309 | 16:29:33 |
TIDMCO2P 25 February 2009 CarbonDesk Group Plc ('CarbonDesk' or 'the Company') Admission to trading on PLUS Business Activities CarbonDesk has established itself as an independent carbon credit broker and provides related advice to developers of projects with the potential to generate carbon credits. CarbonDesk's immediate objective is to build a profitable broking platform with revenues generated through broking carbon credits on behalf of clients on both the buy-side and the sell-side. CarbonDesk will not hold principal positions in the products it is broking. CarbonDesk also intends, in due course, to offer clients independent research on the carbon market. Where appropriate CarbonDesk will look to generate revenue from such services; however the Directors may decide to provide services as part of client marketing activities where they feel this is appropriate. CarbonDesk will also seek to provide consultancy services to developers of renewable energy and emissions-abatement projects in order to assist such clients in maximising the quality and quantity of carbon credits generated by their projects and liquidating those credits in the most effective way in light of their overall strategies. Financial Position Awabi Plc, which changed its name to CarbonDesk on 20 February 2009, has been an investment company and incurred expenses of GBP21,160 during the six month period from 1 May 2008, which date is the Company's year end and increased its net liabilities by the same amount. The Company announced its interim results for the half year ending on 31 October 2008 on 30 January 2009. Since this date there has been a significant fundraising, providing some GBP281,000 of net proceeds for working capital and the development of the group. CarbonDesk Ltd, a broker trading in carbon emissions which commenced trading in October 2008, was acquired on 20 February 2009. Directors Peter Holmes (42), Non-Executive Chairman Mr Holmes has held the following directorships during the past five years: Current directorships: Previous directorships: Albion Stockbrokers Limited Betachange.com Plc Apple Corporate Services Limited Blue Van Limited Campbells Financials Limited Burnstop (UK) Limited (dissolved) Campbells Group Limited Campbells Estate Agents Limited Campbells Rentals Limited Comvurgent Limited ENH Developments Limited Elite Strategies plc Exchange Developments Limited Envesta Telecom Plc IMS Maxims Plc Enviro-Tech.com Limited Synigence Plc Eros Telecom Limited T24 Limited Griffin Group Plc Kinetic Kudos Limited Macherton Limited Mercury Group Plc Mercury Property Services Limited Optimisa Plc Panda Software (UK) Limited Shipley James Limited (dissolved) Software Dialog Limited Sports-Nav Holdings Plc (dissolved) Brett Stacey (47), Chief Executive Officer and Head of Trading Mr Stacey has held the following directorships during the past five years: Current directorships: CarbonDesk Limited Bethlehem Technologies London Limited Bethlehem Technologies (Lesotho) Limited Svelte.im Limited David Bates (50), Director, Head of Research and Product Development Mr Bates has held the following directorships during the past five years: Current directorships: Previous directorships: CarbonDesk Limited Asia Equity Limited Carbon Trading Limited Wools (London) Limited Allen Bates Limited Oliver Rayner (32), Corporate Development Director Mr Rayner has held the following directorships during the past five years: Current directorships: Previous directorships: China Factor Ltd Merchant Capital plc DZ Consulting Ltd Caliber Partners Ltd Fenchurch Capital Ltd Updown Investments LLP Martin Perrin (54), Non-Executive Finance Director Mr Perrin has held the following directorships during the past five years: Current directorships: Previous directorships: Salisbury Assets Limited Advanced Renewable Energy Limited Advance Cornhill Limited Aeroplatforms plc Fivar Limited Lindstrand AeroPlatforms Limited Chatsford Corporate Finance Limited Datafreeze Limited Fiske plc Adjacent Technology plc Muir Finance Company Limited China Tradepath Limited Fairfax Perrin Limited Fenton Equities Limited Energy Asset Management plc Zakar Soft Drinks UK Ltd Lothbury Limited Significant Risk Factors Ownership of shares in the Company will involve a variety of risks which, if they occur, may have a materially adverse effect on the Company's business or financial condition, results or future operations. In such cases, the market price of the Ordinary Shares could decline and an investor might lose all or part of his or her investment. Shareholders and investors should be aware of the risks associated with an investment in a business in the early stages of development. Fuller details of these risks were given in the Awabi Plc's announcement made on 29 January 2009 Securities being admitted The Company has issued 1,055,594 new ordinary shares, ranking pari passu with existing ordinary shares, as initial consideration for the acquisition of CarbonDesk Limited, 2,256,660 new ordinary shares upon conversion of loan notes and 2,175,000 new ordinary shares for cash, in each case at a price of 10p per share. Significant shareholders are listed below: Name Number of Ordinary % of Enlarged Shares Issued Share Capital Brett Stacey 1,205,594 17.1 Peter Holmes 550,020 7.8 David Tucker 500,000 7.1 John Tucker 500,000 7.1 Jacqui Winterflood 500,000 7.1 Jorge Gracia 350,000 5.0 Tarek El Babir 300,000 4.3 Matt Brownie 250,000 3.6 Jeremy Friedlander 250,000 3.6 Luwan Scorer 250,000 3.6 Peter Edwards 250,000 3.6 Daniel Edelman 237,500 3.4 Warrants As announced on 29 January 2009, the Company has issued warrants in respect of new ordinary shares issued for cash and upon conversion of loan notes on the basis of one warrant per four new ordinary shares. In addition the Company has issued warrants to certain advisers as set out in the announcement. Warrants are exercisable at 10 pence per share at any time during a three year period from admission of the shares to PLUS markets. Admission Awabi Plc requested its shares be re-admitted to trading today, following the acquisition of CarbonDesk Ltd, the placing of shares and conversion of loan notes as outlined above. Enquiries: CarbonDesk Group plc Peter Holmes 07786 264 265 Martin Perrin 07785 505 337 Merchant Capital Limited (PLUS Corporate Adviser) Peter Redmond 020 7332 2200 The Directors of the Company accept responsibility for this announcement. END
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