Nature Group Regulatory News (NGR)

15 Jul 2005 16:08

Nature Technology Solutions Limited15 July 2005 Nature Technology Solutions Limited 15 July 2005 NATURE TO ENTER THE OFFSHORE RIG TREATMENT MARKET EQUITY FUNDRAISING OF £480,000 Nature Technology Solutions Limited ("Nature"), the UK and Norwegian oily wastewater treatment group listed on the AIM market of the London Stock Exchange, isentering the offshore wastewater treatment market on oil rigs and productionplatforms. Nature has more than 8 years of experience working with the oil industryutilising its patented green adsorbent, with past projects such as the Maureenplatform decommissioning and the Shell Sola refinery decommissioning. In response to oil industry requirements, and subject to trials as referencedbelow, the Nature Group will be offering, on a rental basis, on-rigcontainerised treatment units to enable oil companies operating offshore toreduce their costs of waste transportation and also to move towards the zeroimpact environmental requirements now looked for in many offshore locations.Trials of the first unit are expected offshore in Jan/Feb 2006. Nature has several years experience of operating treatment facilities, withstate of the art plants in Stavanger Norway onshore, and in Gibraltar, whereNature's operating company is also contracted by the Government of Gibraltar asits designated Port Waste Manager. Nature is in negotiations for further delivery of constant flow waste systems inthe Middle East and Europe, where a recent plant delivery and commissioning toDenmark's biggest manufacturer took place. In order to facilitate the formation of a new Nature offshore operationssubsidiary to launch this product in association with the SAR Group, one ofNorway's biggest offshore waste collectors, and Nature's existing partner init's successful onshore treatment plant in Stavanger, Nature has successfullyraised £480,000 (before expenses) from a placing of 96,000,000 new ordinaryshares at 0.5p per share. Accordingly, application has been made for the admission of 96,000,000 newordinary shares to trading on the AIM market. The new ordinary shares will rankpari passu with the existing ordinary shares of the Company and dealings in thenew ordinary shares are expected to commence on 21 July 2005. P Snell (including a company in which he has a notifiable holding) and REldridge, directors of the Company, have subscribed for 7,000,000 and 2,525,000Ordinary Shares respectively in the Placing. This information is provided by RNS The company news service from the London Stock Exchange