Regulatory News Item
Mar 16, 2011

Option agreement lapsed

In the Chairman's statement of June 2010 which accompanied the financial statements for the year ended 31st December 2009 we reported that we were in discussions with potential investors with a view to securing an additional £1.4m as the next stage of the financing programme initiated in November 2009. These additional funds were needed for the next stage of the Company's ongoing development plan, the establishment and planting out of a base farm in Brazil.

Unfortunately, lack of clarity from the Government regarding future support for biomass in the renewable energy industry and the reduction of greenhouse gas emissions in the UK has created a high degree of uncertainty and had a significant negative impact on the decision making process of potential investors.

Download PDF