MWG.L Regulatory News (MWG)

28 Apr 2008 07:00

Modern Water PLC28 April 2008 Modern Water plc ("Modern Water" or the "Company") AGM Statement Modern Water plc, the company established to build and exploit a portfolio oftechnologies aimed at addressing problems of the availability of fresh water andthe treatment and disposal of wastewater, holds its Annual General Meeting at 10:00 a.m. today, 28th April, at the Company's head office in Guildford, Surrey.Neil McDougall, Modern Water's Executive Chairman, provides the following updateon trading to accompany the meeting: "Modern Water continues to make good progress across all aspects of theCompany's business. Our plans to install a proving plant for our desalinationtechnology in Gibraltar are on track and the plant should be operational bymid-2008. The proving plant will be located next to existing desalinationfacilities and will use the same feedwater. This is a significant opportunity toprove the efficiency of our process in a commercial environment and we arelooking forward to having the plant in place. Modern Water's strong cash position leaves the Company well positioned to takeadvantage of investment opportunities and we continue to receive a high level ofinterest from third parties; both from operators who are interested in using ourexisting technologies, and from other organisations who are looking to tap intoour resources and expertise. As we move from research and development to commercialisation, we are pleased toconfirm that we have a healthy and productive product pipeline. With a number ofinnovative applications of our technology being developed for near-term revenuegeneration, and several exciting longer term revenue opportunities, Modern Wateris well placed to focus on the deployment of our technologies. In summary, as we approach the one-year anniversary of our listing on the AIMMarket, the Modern Water business is in very good shape. Our core business ofdesalination technology, is approaching an exciting milestone and our broaderportfolio of technologies confirms Modern Water's position as a sectorspecialist with a clear focus on addressing the global shortage of fresh waterand the treatment of wastewater." For further information: Modern Water plcNeil McDougall, Executive Chairman 07740 930303www.modernwater.co.uk 01483 696000 HeadLand ConsultancyDudley White or Tom Gough 020 7367 5222 KBC Peel Hunt LtdJonathan Marren or Oliver Stratton 020 7418 8900 This information is provided by RNS The company news service from the London Stock Exchange