Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Virotec Intl Ld (VTI)

  Print      Mail a friend

Thursday 25 November, 2004

Virotec Intl Ld

Sale of HydroDec Technology

Virotec International Ld
25 November 2004

25 November 2004

                         Sale of HydroDecTM Technology

The Board of Virotec International Ltd ('Virotec')(ASX/AIM: VTI) is pleased to
announce that Vert-eco Group plc ('Vert-eco')(AIM: VRT), a UK based and AIM
listed public company, has satisfactorily completed due diligence and the
Vert-eco Board has formally agreed to the acquisition of Virotec's wholly owned
subsidiary, HydroDec Development Corporation Pty Ltd ('HydroDec').

Furthermore, the Directors of Vert-eco have called an Extraordinary General
Meeting and will unanimously recommend that Vert-eco Shareholders vote, inter
alia, in favour of:

 1.An ordinary resolution to approve the acquisition of HydroDec from Virotec
    including an issue of shares to Virotec; and
 2.A special resolution to change the name of the Company to HydroDec Group plc.

Consideration for the sale is approximately £7 million (approximately A$18
million), to be satisfied as follows:
 
 1. The issue of 60,000,000 shares in Vert-eco at 10p per share (which will
    represent approximately 38% of the expanded capital of Vert-eco); and
 2. Cash payments totalling £1.0Million (approx. A$2.52 Million) to be
    satisfied by:
    a) Cash consideration of £500,000 (approx. A$1.26 million); and
    b) The repayment of up to £500,000 (approx. $A1.26 million) of debt
       due from HydroDec to Virotec.

In addition, Virotec retains its ongoing royalty from HydroDec of 5 per cent of
its gross revenue. Virotec will also appoint two directors to the Board of
Vert-eco.

Virotec Chairman Mr Sheeran states, 'This transaction signifies the first major
demonstration of Virotec's corporate objectives as outlined to shareholders in
2002. Virotec has taken a technology, successfully consolidated and
commercialised that technology, and has now sought an appropriate avenue for
international expansion of the technology, while maintaining a significant 
ongoing interest in the technology. Virotec is committed to continuing to 
deliver its range of technologies worldwide by way of partnering and looks 
forward to successfully expanding more of its developing technologies in the 
near future.'

Today's agreement follows the announcement released on 1 October 2004 wherein
Virotec advised that it had agreed a non-binding heads of agreement with
Vert-eco for the sale of HydroDec to Vert-eco.

The Agreement is subject to a number of commercial conditions, the most 
significant being the approval of Vert-eco shareholders as noted above. The 
meeting of Vert-eco shareholders will be held on 20 December 2004. Vert-eco's
announcement in relation to this transaction can be viewed on the London Stock
Exchange website (www.londonstockexchange.com) by searching for news under the
code 'VRT'.

Virotec Chairman Mr Brian Sheeran concludes 'We are very happy with the Ag
reement with Vert-eco. We look forward to developing a mutually beneficial
relationship and to capitalising on our operating synergies. This transaction
meets all of Virotec's agendas. It repays Virotec's outstanding loans and
provides a significant ongoing interest in the upside of the HydroDecTM 
technology by way of its shareholding in Vert-eco and ongoing royalty from 
HydroDec's business activities. The sale also provides for a well funded, 
dedicated structure and management for the commercial advancement of the 
HydroDecTM technology'.

For more information in relation to Virotec, please telephone +617 5530 8014 or
visit www.virotec.com.

Notes on the HydroDecTM Technology:

HydroDecTM technology was developed over 12 years by Australia's Commonwealth
Scientific and Industrial Research Organization ('CSIRO'). The fundamental key
to HydroDec's success is the HydroDec hydrogenation reactor (a patented
modification of known oil refining technology). Essentially, 'dirty' feed oil is
passed through the HydroDec reactor under controlled conditions, contaminants
are destroyed, and a 'clean' feed oil is produced.

The reactor can be used as an oil re-refining system and/or a hazardous waste
treatment system to destroy Persistant Organic Pollutants 'POPS' (PCB, DDT, PCP,
HCB and dioxins). When used to re-refine transformer oils, the re-refined
HydroDec Superfine oil meets 'as new' specifications. When used to destroy
POP's, all POP's can be treated and virtually all the POP contaminant is
destroyed.

In operation, there are no chlorinated or halogenated products or noxious by
products from the process. The primary reactions occur in a closed loop. There
are no combustion processes and no potential hazardous emission points from the
process. Unlike incineration, the HydroDec process prevents the formation of
dioxins or other hazardous by products. Being based upon standard oil refinery
hydrotreatment processes and engineering, HydroDec's process parameters are
proven, reliable and scalable.

HydroDec Development Corporation Pty Ltd is the holder of a world wide exclusive
licence for marketing and distribution of the HydroDecTM Technology.


                            Virotec International Ltd
                               ABN 81 004 801 398
                                   PO Box 188
                            Sanctuary Cove QLD 4212
                                    Australia
                                www.virotec.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange