Riverfort Regulatory News (RGO)

27 Jul 2007 13:07

Caldwell Investments PLC27 July 2007 RELEASED ON BEHALF OF:VIRIDAS PLC (FORMERLY CALDWELL INVESTMENTS PLC) (AIM: CDW) 27 JULY, 2007 VIRIDAS PLC OUTLINES ITS PLANS AT AGM FOR BIODIESEL CROPS • Fertile Sites Selected In Brazil For Mechanical Planting Of First 200,000 Trees • Planned Target of 100,000,000 Trees Over Seven-Year Programme • Interim Placing Raises £450,000 Before Major Financing In Autumn Announcing completion at the AGM today of an interim placing of shares at 12.5pto raise £450,000, Mr. Stanley Wootliff, chairman of Caldwell Investments - nowto be known as VIRIDAS PLC - said the money would be used to create ViridasBrasil Agronegocios Ltda. and the planting of 200,000 jatropha trees as an earlycommitment to starting a biodiesel project in Brazil. He introduced the newchief executive officer Mr. Fernando Lunardini, 37, a former McKinsey associatepartner, who joined the company last month. Mr. Lunardini told shareholders: "We have now put in place a team of experts forour much bigger transformational plan which, subject to funding, would aim atplanting 100,000,000 jatropha trees on 35sq kms of land within the next sevenyears. Part of today's placement will be used for completion of options overfurther prime land identified. A major fund raising is planned for the autumn". He added that the company would be unique in being in charge of every aspect ofproduction from developing the most productive variety of jatropha oilseed andplant, choosing the most fertile sites, to managing the planting, the pickingand crushing operation. "It will also be one of the pioneers of mechanical planting of jatropha fromseed. Our small trial carried out in January of germinating 1,000 jatrophatrees was very successful and confirmed fertile conditions such as to allow usto sow the seed mechanically rather than planting saplings - giving substantialsavings. "Our policy is to go for fertile and flat land suitable for machine planting.Better land and better irrigation gives better oil yields" he said. "Positive interest has been received from potential investors and customers inEurope, Brazil and America where keenness to participate had been expressed. "We are now looking at this project with ever increasing confidence followingthe encouragement from all parties with whom we have had discussions." All resolutions before the annual general meeting were passed. NOTE TO EDITORS Jatropha, which is grown for its seed oil, has a higher yield per hectare thancorn and soya and with the gradual build up of oil sand production in NorthAmerica is seen as contributing to the security of energy supply. BP saidrecently it regarded jatropha as a key feedstock. Anticipated regulatory leddemand for biodiesel generally is put at approximately 11m tonnes a year from2010. The jatropha tree itself starts to give a yield of oilseed after one year andreaches maturity after four years. It is robust and hardy and has a lifespanof 30-50 years PHOTOGRAPHS OF NEW CEO AND CHAIRMAN AVAILABLE FROM COLPR Further info: STANLEY WOOTLIFF, Executive Chairman, Viridas Plc , 0113 2350632 JOHN GREENHALGH/RON MARSHMAN, City of London PR Limited, 020 7628 5518 http://www.caldwellinvestmentsplc.com/ Caldwell Share Price This information is provided by RNS The company news service from the London Stock Exchange