General Update
General Update 10th November 2010
Genwat makes progress with a site for an Energy from Waste plant and receives strong indications regarding its proposed IPO.
Genwat makes progress with a site for an Energy from Waste plant and receives strong indications regarding its proposed IPO.
Following on from various press announcements outlining funding for various Energy from Waste (“EfW”) and green energy projects, Genwat is pleased to report that it has also made tangible progress with a site with the majority of planning in place to build an EfW plant alongside strong indications for its large scale funding requirement.
Whilst the matter proceeds and the site’s location is obviously confidential, the Directors are pleased with progress in negotiations and expect to announce the outcome full by Christmas.
Should the negotiations come to fruition successfully, the site should be adequate to allow the directors to embark upon the flotation of Genwat, which has been discussed at length with the company’s advisors and proposed Brokers, all of whom have suggested that the proposition will be adequately compelling provided the market has sufficient appetite and robustness during 2011.
Whilst the matter proceeds and the site’s location is obviously confidential, the Directors are pleased with progress in negotiations and expect to announce the outcome full by Christmas.
Should the negotiations come to fruition successfully, the site should be adequate to allow the directors to embark upon the flotation of Genwat, which has been discussed at length with the company’s advisors and proposed Brokers, all of whom have suggested that the proposition will be adequately compelling provided the market has sufficient appetite and robustness during 2011.
