Gran Tierra Regulatory News (GTE)

2 May 2007 15:13

Gas Turbine Efficiency PLC02 May 2007 Gas Turbine Efficiency plc2 May 2007 Gas Turbine Efficiency plc Placing Gas Turbine Efficiency plc ('GTE' or the 'Company'), a leading supplier ofadvanced cleaning, performance monitoring and fluid and control systems for gasturbines in the aviation and power generation industries, announces that it hasconditionally placed 7,456,140 new ordinary shares ('Placing Shares') of 0.2pence each in the capital of the Company ('Ordinary Shares') at 57 pence pershare (the 'Placing Price') to raise approximately £4.25 million (beforeexpenses). The Placing Shares have been allotted out of the Company's existingshare allotment authorities. The purpose of the Placing is to enable the Company to capitalise upon itscurrent and future growth initiatives as stated in its results statement of 16April 2007. Completion of the placing is conditional on admission to trading on AIM of thePlacing Shares and application for admission is being made today with admissionexpected to occur on or around 9 May 2007. Following the issue, the Company's issued share capital consists of 56,601,594Ordinary Shares with a nominal value of 0.2 pence each, with voting rights. TheCompany does not hold any ordinary shares in Treasury. The above figure of56,601,594 Ordinary Shares may be used by shareholders in the Company as thedenominator for the calculations by which they will determine if they arerequired to notify their interest in, or a change to their interest in, theshare capital of the Company under the Financial Service Authority's Disclosureand Transparency Rules. Enquiries: Gas Turbine Efficiency plcSteven Zwolinski, CEO +44 20 7929 8989 on the day +46 8 546 10 528 Libertas CapitalAamir Quraishi, Charles Goodfellow +44 20 7569 9650 Corfin CommunicationsNeil Thapar, Harry Chathli +44 20 7929 8989 About GTE Gas Turbine Efficiency plc, whose shares are trading on London Stock Exchange'sAIM market (Ticker: GTE), develops, assembles and markets cleaning systems, aswell as other associated equipment, for the internal cleaning of gas turbinecompressors. The Company sells its products globally to international blue chipcustomers in the aviation and industrial sectors and to date its products havebeen used on over 1,000 gas turbines across 34 countries in Europe, the MiddleEast, Asia and the Americas. Its operational centres are located in Stockholm,Sweden, St Petersburg, Russia, Troy, New York, Orlando, Florida and Houston,Texas, USA. Through Control Center, based in Orlando, Florida, USA, GTE alsodesigns and manufactures a wide range of fluid, combustion and controlsub-systems aimed at industrial gas turbines primarily in the power generation,oil & gas, aerospace and pharmaceuticals sectors. This information is provided by RNS The company news service from the London Stock Exchange