Armadale Capital Regulatory News (ACP)

24 Jul 2009 11:22

Watermark Global

("WET" or "the Company")

AGM Statement

At the Annual General Meeting of the Company held today at 10.00 am, all resolutions were duly passed.

Peter Marks, Chairman, made the following comments:

"The Company has made substantial progress in the continued development of the Company's core Acid Mine Drainage (AMD) water treatment project in South Africa. Importantly, as the project has continued to advance and mature, the need to find a sustainable solution to the growing AMD problem has become increasingly urgent. There is also an increasing imbalance between rising demand and declining supply of potable, as well as industrial water, in the region which firmly underpins Watermark's business plan and proposed rollout strategy.

"The Definitive Feasibility Study, for which we recently raised in June approximately £2m, is well under way and we expect it to be completed in September. In addition we are now heavily engaged with the environmental process - seeking authorisation from all the necessary regulatory bodies. This is a time consuming process but again we are making good headway.

"We look forward to updating shareholders on the progress we are making soon."

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