Last checked at 26 May 2009 11:23
Gas Turbine Efficiency plc
("GTE" or the "Company")
Result of General Meeting
The Board of GTE announces that all of the resolutions proposed at the general meeting of the Company held earlier today in relation, inter alia, to the Placing to raise £7.0 million (approximately $10.5 million) before expenses were duly passed.
Application has been made for the admission to trading on AIM of the 29,200,000 New Ordinary Shares to be issued pursuant to the Placing and it is expected that dealings in these shares will commence at 8.00 a.m. on Friday 29 May 2009.
Following Admission, the Company's issued share capital will consist of 101,597,594 Ordinary Shares, each of which has a nominal value of 0.2 pence and one vote. The Company does not hold any New Ordinary Shares in treasury. Immediately following Admission, the above figure of 101,597,594 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
| Gas Turbine Efficiency plc | |
| Steven Zwolinski, CEO | +46 (0) 8 546 10 528 |
| Collins Stewart Europe Limited | |
| Hugh Field / Bruce Garrow | +44 (0) 20 7523 8350 |
| Mirabaud Securities LLP | |
| Peter Krens | +44 (0) 20 7878 3360 |
| Financial Dynamics | |
| Jon Simmons / Susanne Yule | +44 (0) 20 7831 3113 |
About GTE
Gas Turbine Efficiency plc (GTE) designs, manufactures and supplies proprietary cleantech energy saving and performance enhancing systems to the aviation, industrial and combustion industries. GTE's extensive portfolio of patented cleantech solutions save fuel, reduce emissions, increase availability, and extend turbine and parts life.
The Group also provides solutions for burning a wider variety and quality of primary and alternative fuels. Specific products and services developed by our world-class technology team include compressor cleaning and power augmentation systems; fuels management systems; combustion design, repair, upgrade and monitoring; and fluid and control auxiliaries. The Group's systems and associated services are provided to turbine end users and OEMs including General Electric, Pratt & Whitney, Rolls Royce, Caterpillar-Solar and Siemens from operation centres in Europe and the USA. GTE's shares are traded on London Stock Exchange's AIM (Ticker: GTE).