LBB.L Regulatory News (LBB)

2 Aug 2007 07:00

Greenhouse Fund Limited (The)02 August 2007 For immediate release 2 August 2007 The Greenhouse Fund Ltd ("Greenhouse" or "the Company") Loan to Molectra for purchase of site The Directors of Greenhouse (AIM:GHF) are pleased to announce the issue of adraw down loan of up to AUS$4.5m to Molectra Australia Pty Ltd ("Molectra"), its58% owned subsidiary. The loan will allow Molectra to continue its commercialisation plan. The fundswill be used to secure a site for the establishment of the first full-scaleMolectra plant, designed to process c.2.5 million tyres per year or 20,000tonnes. It is anticipated that this full scale plant will cost c.£6 million tobuild and take c.12 months to construct. A site outside Sydney in New SouthWales, Australia, has been identified and final negotiations are now takingplace with the authorities. The secured loan is for up to AUS$4.5m, bears interest and is repayable byMolectra within a year, or on demand by Greenhouse. Greenhouse Vice-Chairman Brian Sheeran commented, "We are delighted that Molectra are looking to secure a site for the next stagein the commercialisation of their technology, and look forward to themcommencing the building of the full scale plant. This is a key step in theoverall development process that will allow many other areas to move forward." For further information please contact: Paul Gazzard,Greenhouse Advisor Ltd.Tel: 0207 355 7660Email: pg@greenhousefund.co.uk Charles Ryland/Ben WilleyBuchanan Communications0207 466 5000Email: charlesr@buchanan.uk.comEmail: benw@buchanan.uk.com Evolution SecuritiesFergus Marcroft/ Stuart Andrews0207 071 4300 This information is provided by RNS The company news service from the London Stock Exchange