3 Nov 2011 15:15
3 November 2011
Hydrodec Group plc
(the "Company")
Posting of Circular
Further to the announcement released on 2 November of proposals to raise £5.5 million (before expenses) through a placing of 55,000,000 ordinary shares at 10p each and to put forward the terms of a new Long Term Incentive Plan for key executives (the "Proposals"), the Company announces that a circular relating to the Proposals has been posted to shareholders. The circular, which includes a notice convening a general meeting to be held at the Company's offices at 4th Floor, 120 Moorgate, London EC2M 6SS at 10.00 a.m. on 21 November 2011, will shortly be available to view on the Company's new website (www.hydrodec.com//investor-relations/shareholder-services/shareholder-circulars).
For further information please contact:
Hydrodec Group plc | 020 7786 9810 |
Neil Gaskell, Chairman | |
Mike Preen, Head of Corporate and Legal Affairs | |
| |
Numis Securities Limited | 020 7260 1000 |
Nominated Adviser: Hugh Jonathan Corporate Broker: David Poutney, Alex Ham | |
| |
Luther Pendragon | 020 7618 9100 |
Neil Thapar, Alexis Gore |
Notes to Editors:
Hydrodec Group plc
The Group's technology is a proven highly efficient oil re-refining and chemical process which was initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry and now supplies oil to several other industries. The Group takes spent transformer oil, including polychlorinated biphenyl ("PCB") contaminated oil, as the primary feedstock, which is then processed at its two plants enabling 99 per cent or greater recovery of oil for reuse while also eliminating PCBs, a toxic additive banned under international regulations, without environmentally harmful emissions.