Lloyds Share News (LLOY)

LONDON (Dow Jones)--Water Hall Group PLC (WTH.LN), a holding company, said Thursday that its residual investment of 0.8 million shares in Lloyds Banking Group PLC (LLOY.LN) is regarded as non-core and it will therefore be sold at an opportune time. MAIN FACTS: -The U.K. planning system, especially in Hertfordshire, places considerable restraints on the development of the business making it difficult for the board to forward plan with any degree of confidence especially when coupled with the present economic environment. -Negotiations with a specialist operator to commercially utilize for electricity generation the landfill gases arising from Southfield Wood and Old Water Hall are at an advanced stage; any contract would be conditional upon the proving of the gases to produce 1 MW of electricity for at least a 10 year period, a process which would be expected to take six months from the signing of the contracts. -It is the board's intention to seek an early meeting with the board of Petards PLC (PEG.LN), in which it owns 29.99%, to explore the options open to it. -Company is undergoing a period of transition which the board believes will result in the Company's direction being defined within a sector where it can add skills and value through the development of a growing business coupled with a sustainable and progressive dividend policy. -Water Hall shares at 1110 GMT unchanged at 3.25 pence valuing the company at GBP1.84 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires June 24, 2010 07:12 ET (11:12 GMT)