Riverfort Regulatory News (RGO)

30 Jun 2009 11:58



30th June 2009

Viridas PLC

("Viridas" or "the Company")

AGM Statement

Viridas is pleased to announce that all the resolutions put to the shareholders of the Company at the Annual General Meeting and separate General Meeting held today were duly passed.

At the Annual General Meeting, Stanley Wootliff, Chairman, made the following statement:

"Viridas is currently in discussions with a number of potential investors regarding the provision of funding to progress its Jatropha project and based on these discussions the Directors are optimistic that funding for stage three of development will become available.

The Directors believe that recent UK legislation setting out fiscal incentives and penalties for the electricity generating industry regarding the use of sustainable biomass for co-generation has presented Viridas with an exciting additional opportunity to supply the UK market with sustainable biomass.

Our production plans for 60,000 tonnes of crude jatropha oil for the European market will also produce 120,000 tonnes of sustainable biomass. The Company has already been approached by several leading industry players to enter a supply agreement for this biomass."

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