RED.L Regulatory News (RED)

5 Feb 2009 07:00



5 February 2009

Camco International Limited (the Company)

MCF earn-out payment

Camco International Limited (Camco), a leading climate change business in the growing carbon and sustainable development markets, details a payment in relation to the acquisition of MCF Finance and Consulting Co. Ltd (MCF) which was announced on 25 September 2006. The payment has been calculated pursuant to an agreed earn-out formula and reflects the value contributed to Camco since the acquisition. 

Consideration will be paid in the form of Ordinary Shares in Camco and an application has been made for the admission of 1,655,232 Ordinary Shares to AIM. These shares are expected to be admitted to trading on 10 February 2009 but are subject to lock-in arrangements which prohibit their sale until 22 September 2009. Following admission, Camco will have a total issued share capital of 169,165,197 Ordinary Shares. 

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About Camco

The Camco Group is a leading climate change business in the growing carbon and sustainable energy markets. We offer a full range of carbon-related services to public and private organisations worldwide. The Group has a 20-year track record and manages one of the world's largest carbon credit portfolios.

The Group consists of three business segments:

The Camco carbon assets business is a leading project developer with one of the world's largest carbon credit portfolios. We partner with companies to identify, develop and manage projects that reduce greenhouse gas emissions, and then arrange the sale and delivery of carbon credits to international compliance buyers and into the voluntary market.

The consulting practice consists of Bradshaw, ECCM, ESD and ESD Sinosphere. It combines specialist technical, strategic and financial expertise and experience accrued over two decades to deliver a sustainable low carbon society. We are positioned to work with our clients to turn climate change liabilities into economic, social and environmental assets. 

Camco Ventures works with project and technology developers, early stage businesses and investor Groups to commercialise climate change mitigation technologies, projects and services. Part of this business is the Camco asset management vehicle.