TEG.L Regulatory News (TEG)

23 Dec 2005 13:02

TEG Environmental Plc23 December 2005 For Release 1:00pm 23 December 2005 TEG ENVIRONMENTAL PLC Proposed Change of Name TEG Environmental Plc ("TEG" or "the Company"), the leading green technologycompany, which converts organic wastes into natural organic fertilizer,announces in a letter dated 23 December 2005 to shareholders, that theextraordinary general meeting of the Company due to be held at 9:00 am on 22December 2005 was adjourned without the resolution relating to the name changebeing put to the shareholders. The Board has resolved to defer a change of nameof the Company to 2006 and to implement such change at the same time as thebusiness and assets of the Company are transferred to a newly incorporatedwholly owned subsidiary. Further details of the timing of the resolution will beprovided in due course. TEG has given confirmation that the subsidiary structure has been implemented inpreparation for the restructuring of the business. ENDS For further information please contact: TEG Environmental Group Plc 01772 314100Michael Fishwick, Chief Executive Binns & Co PR Ltd 020 7786 9600Tarquin Edwards 07879 458 364 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