20 Jan 2010 14:34
20 January 2010
CINPART PLC
('Cinpart' or the 'Company')
Statement re: Share Price Movement
The directors of the Company ("Directors") note the recent movement in the Company's share price together with certain press and bulletin board speculation.
Further to the announcement made by the Company on 22 December 2009 the Company can confirm that Active Energy, a subsidiary of the Company, is now in advanced discussions with a subsidiary of a UK focused blue chip energy supplier regarding a memorandum of understanding relating to the development of new markets for the VoltageMaster product. To the extent that these discussions are successful a further announcement will be made by the Company.
-ENDS-
Enquiries:
| Cinpart Plc | |
| Kevin Baker, Chief Executive Christopher Foster, Executive Director | Tel: 020 3176 3033 Tel: 020 3176 3031 |
| Merchant John East Securities Limited (Nominated Adviser) | |
| John East/Simon Clements | Tel: 020 7628 2200 |
| Mirabaud Securities LLP (Joint Broker) | |
| Rory Scott | Tel: 020 7878 3360 |
| Rivington Street Corporate Finance Limited (Joint Broker) | |
| Dru Edmonstone | Tel: 020 7562 3389 |
| Hansard Group (Public Relations) | |
| Kirsty Corcoran/Justine James | Tel: 020 7245 1100 |
About Cinpart:
Cinpart plc (AIM: CINP) is a holding company that owns 72.2 percent of Active Energy Limited. Active Energy manufactures and supplies the VoltageMaster, a device that can reduce electricity consumption in commercial buildings by up to 20 percent.
Other wholly owned subsidiaries in the Group include Derlite Co Limited; based in Thailand, this company is an international manufacturer of electrical and non-electrical components specializing in ignition systems for gas appliances and Gasignition Limited; a trading company supplying electrical components to small and medium-sized European gas appliance manufacturers.
About Active Energy:
Active Energy owns the rights, intangible assets and intellectual property of VoltageMaster, a range of voltage optimisation equipment for commercial buildings that reduces voltage, and consequently energy consumed, by up to 20 percent. The VoltageMaster, a sophisticated, easy to install device that is adaptable to complement existing infrastructures, optimises the voltage used in a building by adjusting the electricity voltage supplied to the whole building. In addition, the reduced energy consumption produced by the VoltageMaster provides reduced carbon emissions.
Active Energy (AEG)