TEG.L Regulatory News (TEG)

19 Mar 2007 15:56

TEG Group (The) PLC19 March 2007 For immediate release 19 March 2007 TEG GROUP PLC (TEG) ("TEG" or "the Company") INSTITUTIONAL PLACING UPDATE TEG Group Plc, the leading green technology company, which converts organicwastes into natural organic fertiliser announces that it is investigatingraising additional equity for the future development of its business by way of aplacing of shares with institutional investors. A further announcement will bemade in due course. Contact: The TEG Group Plc Tel: 01772 314100Michael Fishwick, Chief Executive Adventis Financial PR Tel: 020 7034 4757Annie Evangeli Cannacord Adams (Nomad) Tel: 020 7050 6500Robert Finlay / Chris Bowman Editor's Notes:TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product (ABP) waste. Planteconomics are predominantly driven by the gate fees charged, rather than thevalue of the end product (compost). The TEG process is an economic alternativeto landfill. The Silo Cage system, one of the few technologies in Europe capable of treatingthis waste, is a natural process producing compost as an end product, used as anexcellent soil conditioner that fertilises, retains moisture, provides structureand reduces the incidence of plant disease. TEG's Silo-Cages are housed inself-contained buildings, are not unsightly and are environmentally friendly. Customers include local authorities, waste management companies, foodprocessors, farmers and landowners. The Company's expanding market is driven byincreasingly stringent EU and UK legislation regulating the treatment anddisposal of organic waste. Statutory targets for the diversion of waste fromlandfill increase annually through to 2020, increasing TEG's market opportunityyear on year. The Waste Resource Action Programme estimates that 450 compostingplants will be needed by 2020 to satisfy local authority requirements alone, andthere is increasing demand from the private sector driven by ABP legislation. NOFCO is a marketing company specialising in the development of end markets forcompost products, an important aspect of all plant developments and key to localauthority development. The company has an expertise in the development ofagricultural and horticultural markets and this capability is to be provided tocustomers to enhance TEG's overall service offering. This information is provided by RNS The company news service from the London Stock Exchange