TEG.L Regulatory News (TEG)

7 Dec 2005 07:01

TEG Environmental Plc07 December 2005 For immediate release 7 December 2005 TEG Environmental Plc Notice of EGM Extraordinary General Meeting to be held on Thursday, December 22nd 2005 TEG Environmental Plc ("TEG" or "the Company"), the AIM-listed cutting edgegreen technology company, which converts organic wastes into natural organicfertiliser, gives notice of an Extraordinary General Meeting ("EGM") to be heldat 9:00 a.m. at TEG's offices in Preston on December 22nd 2005. The purpose ofthe EGM is to consider a resolution to change the name of the company. The Board feels that in view of the Company's recent and considerable progress,now is an appropriate time to put an effective structure in place to ensure thecompany is both focused on shareholder interests and strategic direction, aswell as the important day to day management of a technology and recyclingbusiness. To this end, the Board believes it is appropriate to create anoperating subsidiary to look after the day to day interests of the business,while the PLC Board continues to focus on the interests of the shareholders andthe strategic direction of the business as a whole. The Board is therefore proposing that as from January 1st 2006 the parentcompany is renamed The TEG Group PLC, which will initially have two 100% ownedsubsidiaries, TEG Environmental Ltd and The Natural Organic Fertiliser CompanyLtd (which has previously been held in trust for the company by a Director). TEGEnvironmental Ltd will become the operating company and the Natural OrganicFertiliser Company Ltd will be dormant for name protection purposes. ENDS For further information please contact: TEG Environmental PlcMick Fishwick, Chief Executive 01772 314 100 Binns & Co PR LtdPeter Binns / Tarquin Edwards 020 7786 9600 Notes to Editors: TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product waste. Planteconomics are driven by the gate fees charged, rather than the value of the endproduct (compost). The TEG process is an economic alternative to 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 fertilizes, retains moisture, provides structureand restricts weed growth. TEG's Silo-Cages will be housed in a self-containedbuilding, are not unsightly and are environmentally friendly. Potential 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. This information is provided by RNS The company news service from the London Stock Exchange