13 Aug 2015 11:49
Nature Group PLC
("Nature" or the "Company" or the "Group")
Vessel Acquisition
Nature Group PLC (AIM:NGR), the provider of port reception facilities and waste treatment solutions for the oil, marine and process industries, is pleased to announce that it has acquired the Hydrovac 12 vessel, a large-volume double hulled tanker, (the "Vessel") from Ship Invest B.V ("SIBV") for a total consideration of €3.1 million (the "Acquisition"). The Acquisition is being funded through a combination of debt facilities made available by ING Bank and the Company's own cash resources.
The Vessel has been leased by the Company from SIBV since 2013 and deployed in its Rotterdam waste treatment operations. In view of its importance to the Company's operations in the region it has now elected to acquire the outright ownership of the Vessel to secure its long-term and continued availability and the Company also expects to generate additional profitability of approximately £117,000 per annum through its ownership.
SIBV is a wholly-owned subsidiary of Port Invest B.V., which owns 19,000,000 ordinary shares in the Company, representing approximately 24 per cent. of its issued share capital, and of which Andreas Drenthen, Non-Executive Director of the Company, is also a director and shareholder. The Acquisition is therefore classified as a related party transaction under the AIM Rules for Companies. Accordingly, the independent directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. The Company commissioned an independent expert valuation of the Vessel by Van Duyvendijk & Zn B.V., which confirmed a valuation of €3.2 million.
For further information contact:
Nature Group PLC |
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Jan Vesseur, CEO | Tel: + 31 6462 878 96 |
Kieron Becerra, CFO | Tel: + 350 200 73905 |
Nigel Sandy, Chairman | Tel: + 44 (0)1208 816 744 |
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Cenkos Securities plc |
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Neil McDonald | Tel: +44 (0)131 220 9771 / +44 (0)207 397 1953 |
Nick Tulloch | Tel: +44 (0)131 220 9772 / +44 (0)207 397 1950 |
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Hermes Financial PR |
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Chris Steele | Tel: +44 (0)7979 604 687 |
Trevor Phillips | Tel: +44 (0)7889 153 628 |
About Nature Group
A company with more than 25 years' experience in waste water treatment and a unique corporate social responsibility (CSR) strategy that enables us to be truly a part of Nature and responding to the ever expanding and demanding legislative framework.
Nature Group combines port reception services and facilities, offshore treatment services and the latest sustainable waste treatment technologies in a steadily growing global network. Nature Group is traded on the AIM market, (ticker: NGR). www.ngrp.com
Nature Group (NGR)