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Modern Water Secures Investment From Chinese Firm, Plans Fundraising (ALLISS)

Tue, 21st Aug 2018 11:21

LONDON (Alliance News) - Modern Water PLC on Tuesday said it secured an investment of GBP552,349 from Chinese company Hangzhou Shangtuo Environmental Technology Co Ltd, trading as Sunup.

The water & wastewater technology company said environmental technology company Sunup subscribed for 5.0 million shares at a price of 11 pence each. The stock was trading 4.4% higher on the day Tuesday at 9.40p per share.

Upon completion of the transaction, Sunup will be interested in 5% of the enlarged share capital of Modern Water.

Sunup has agreed to lock-in restrictions for 12 months following the subscription and orderly market restrictions for a period of 12 months after that. It has also been granted one non-transferrable warrant per share, exercisable within 12 months from completion of the subscription, at 13 pence per share.

"As a new shareholder we look forward to both contributing to and sharing in the long-term success of Modern Water," said Sunup Chief Executive Noah Tan.

"I am very pleased to welcome Sunup as a shareholder in Modern Water and look forward to working with Tan and the highly experienced and committed team at Sunup to capitalise on the significant demand for Modern Water's innovative technologies in China," said Modern Water Chief Executive Simon Humphrey.

Looking forward, Modern Water said it intends to give existing shareholders the opportunity to subscribe for shares, on the basis of one share for every ten held, at the same price as Sunup. The fundraising is planned after he publication of interim results.

The company did not provide the details when it will publish its half-year report.

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29 Apr 2014 12:32

Modern Water Creates Lateral Flow Tests And Reader

LONDON (Alliance News) - Modern Water PLC said Tuesday it has created a new range of immunoassay environmental monitoring strip (lateral flow) tests, as well as a hand-held device to read the results. The company, which creates water technologies for the production of fresh water and monito

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22 Apr 2014 12:16

DIRECTOR DEALINGS: Modern Water Chairman Acquires Shares

LONDON (Alliance News) - Modern Water PLC said Tuesday that Executive Chairman Neil McDougall acquired 33,000 shares at a price of 0.29 pence per share. Following this transaction, McDougall has an interest in 6.4 million shares representing 8.00% of the water technology company. Mode

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26 Mar 2014 12:11

Modern Water Says Severn Trent Has Bought A Trace Metal Monitor

LONDON (Alliance News) - Modern Water PLC Wednesday said water company Severn Trent PLC has bought one of its trace metal monitors after trialling it at a water treatment works in the UK. In a statement, the fresh water and water quality monitoring technology company said the trial was paid

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17 Mar 2014 12:38

Modern Water Installs Multiple Trace Metal Monitors In Argentina

LONDON (Alliance News) - Water technology company Modern Water PLC Monday said it has installed multiple trace metal monitors in Argentina, after seeing increased demand in South America for its products. The company, which develops and supplies systems for water monitoring, said it recentl

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12 Mar 2014 13:01

Modern Water Loss Narrows In 2013 As It Cuts Costs

LONDON (Alliance News) - Modern Water PLC Wednesday said its loss narrowed in 2013 as it cut costs and signed a number of new contracts, while its cash burn was also reduced. The company, which develops and supplies systems for water monitoring, posted a pretax loss of GBP4.8 million compar

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12 Mar 2014 10:05

UK BROKER RATINGS: Four Brokers Raise Close Brothers Price Target

LONDON (Alliance News) - The following UK shares received analyst recommendations Wednesday morning:
----------
FTSE 100
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BERENBERG CUTS TRAVIS PERKINS PRICE TARGET TO 1800 (1880) PENCE - 'HOLD'
----------
JEFFERIES CUTS LAND SECURITIES

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12 Mar 2014 09:03

Wednesday broker round-up UPDATE

Ashtead Group: Citi raises target price from 850p to 1075p keeping a buy recommendation. Barratt Developments: Goldman Sachs reduces target price from 527p to 502p and downgrades to neutral. British Land: Jefferies downgrades to hold with a target price of 707p. Brooks Macdonald Group: Canaccord

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12 Feb 2014 11:20

Modern Water Supplies Toxicity Monitor For River Clean-Up Research

LONDON (Alliance News) - Modern Water PLC Wednesday said it is supplying a Microtox M500 toxicity monitor for a river clean-up research project in collaboration with the University of Central Florida. "The UCF chose the Microtox M500 as it provides rapid toxicity testing with immediate resu

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4 Feb 2014 11:14

Modern Water Launches New Bench Top Ultraviolet Digester

LONDON (Alliance News) - Modern Water PLC Tuesday said it has launched a bench top ultraviolet digester that provides a quick and easy way to treat aqueous samples with UV light. In a statement, the water technology company said the product, the UV14000, eliminates organic compounds found i

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20 Jan 2014 09:13

Modern Water Launches New Trace Metal Monitor

LONDON (Alliance News) - Modern Water PLC Monday said it has launched a new trace metal monitor, the OVA7000 Duel Cell, a monitor that it says extends the range of detectable metals to up to ten in a single unit and offers 24 hour monitoring of three to six sample streams. Shares in the wat

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2 Dec 2013 17:01

STOCKS NEWS EUROPE-UK small caps close down 0.2 percent

The FTSE small cap index and junior-listed AIM shares shed 0.2 percent and 0.1 percent respectively, outperforming the mid-caps, off 0.9 percent, and the blue chips, 0.8 percent weaker. Ferrex gains 9.5 percent on positive initial drilling results from the Mebaga iron ore project in Gabon l

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26 Nov 2013 13:21

Modern Water Opens Office In Shanghai

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29 Oct 2013 11:00

Modern Water Signs Exclusive Agreement With Beijing Green Science and Technology

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18 Oct 2013 16:32

Travis Perkins CEO sells 50,000 shares ahead of next year's departure

The wife of the out-going Chief Executive of Travis Perkins on Thursday sold 50,000 shares on the same day the FTSE 100 builders merchant reported 'encouraging' sales momentum in the third quarter despite challenging conditions in retail markets. The transaction reduced Geoff Cooper's stake in the

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18 Oct 2013 07:32

DIRECTOR DEALINGS: Modern Water Non-Exec Buys 200K Shares

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