Last checked at 4 Jul 2008 12:00
4 July 2008
Bioganix Plc
The directors of Bioganix Plc ('Bioganix' or 'the Company'), the AIM listed waste management services group, are pleased to announce that trading in its shares has recommenced following the publication of its Annual Report and Accounts today. These Accounts are entirely consistent with the Preliminary Results announced on 15 May 2008 and include an unqualified audit report. Copies of the accounts are available on the company's website www.bioganix.co.uk and are in the process of being sent to shareholders.
The company is pleased to report that it is continuing to make good progress on a number of fronts:
The Sharpness facility opened for deliveries of waste in May enabling the commissioning of the Plant to take place. The initial deliveries, supplied by Cory Environmental on behalf of Gloucester County Council, are now being supplemented by deliveries from a range of commercial and municipal customers including the receipt of source segregated food waste and card from The Glastonbury Festival. The gradual increase in overall tonnage, coupled with the seasonal peaks in garden waste production means that the Plant is currently processing volumes of waste at a rate slightly ahead of management's expectations. By the end of June over 4,000 tonnes of waste had been processed.
The Parham plant is currently operating at near full capacity. The settlement arrangements with a major customer ("the Customer") referred to in the Trading Update on 15 April 2008 are now being implemented. Cash payments have been received in accordance with the agreed schedule and the Customer has been processing material supplied by Bioganix in one of the Customer's own facilities, for a reduced gate fee as agreed.
Continued progress is being made as regards the proposed new facility in Buckinghamshire. A positive screening opinion for the proposed site has been received and preparations for the submission of the full planning application are now well advanced.
The Company continues to explore a number of other significant opportunities within the waste and "green energy" markets for composting and anaerobic digestion applications.
The Company expects to announce its interim results for the six months ended 30 June 2008 on 29 September 2008.
Contacts:
| Nick Helme | 01568 619115 |
| Managing Director - Bioganix Plc | |
| Julian Morgan | 01568 619101 |
| Finance and Commercial Director - Bioganix Plc | |
| Mike Coe | 0117 933 0020 |
| Blue Oar Securities Plc | |
| Tom Cooper / Paul Vann | 0117 920 0092 |
| Winningtons Financial | 0797 122 1972 |