Share price3 Dec 2010 15:49
The rise of +9,900.00% is not what it seems. The price has always been quoted in Euro's, as identified by Philosophical, and today this stock has switched over to trading in UK Pence. Yesturday it closed at 0.06Euro, ie a bit less than 6p, and it is now showing correctly at 6p. I.e. The share price hasn't actually changed at all today!
30 November 2010
Kedco plc
("Kedco" or the "Company")
Change in trading currency
Kedco plc (LSE: KED.L), the cleantech group focusing on clean energy production in the UK, Ireland and Eastern Europe, announces that as of 8.00 a.m. on 3 December 2010 the trading denomination of the Company’s ordinary shares of €0.01 each (the “Ordinary Shares”) will change from Euro to Pounds Sterling.
Kedco has taken the decision to change the trading denomination of the Ordinary Shares in order to better reflect its status as an entity that currently generates the majority of its revenues in non-Euro currency. In addition, Kedco’s two most imminent power generation projects are anticipated to generate revenues in Sterling.
The Sterling value of the Ordinary Shares at 8.00 a.m. on 3 December 2010 will be based upon the prevailing Euro to Sterling exchange rate as at 4.00 p.m. on 2 December 2010 as extracted from Reuters. Shareholders should note that the nominal value of the Ordinary Shares, being €0.01 each, will not be affected by this change. However from 8.00 a.m. on 3 December 2010, the settlement of trades in the Company’s Ordinary Shares will be effected in Pounds Sterling.
For additional information please contact:
Kedco plc
Donal Buckley, Chief Executive / Gerry Madden, Finance Director
+353 (0)21 467 0427
Deloitte Corporate Finance - Nomad
Jonathan Hinton / David Smith
+44 (0)20 7936 3000
SVS Securities plc - Broker
Ian Callaway / Alex Mattey
+44 (0)20 7638 5600
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