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”).


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.


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.


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.


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.


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.


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.


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.


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.


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

 Information  X 
Enter a valid email address

Virotec Intl Ld (VTI)

  Print      Mail a friend

Friday 08 July, 2005

Virotec Intl Ld

Placing and trading update

Virotec International Ld
08 July 2005

8 July 2005
                            VIROTEC INTERNATIONAL LTD

                          Placing to raise £9 million
                                 Trading Update


Virotec International Ltd ('Virotec' or the 'Company')(ASX/ AIM: VTI) plans to
raise up to £9.0 million (AUD$21.186 million*) net of expenses in a conditional
placing (the 'Placing') with Institutions arranged by Numis Securities Limited
('Numis'). The Placing will involve the issue of up to 31,000,000 new ordinary
shares in the Company at a price of 30p (AUD$0.706*) per share. Immediately
following the Placing the total number of shares in issue will be 237,895,894.

The proceeds from the Placing will be used for the following purposes:
•Expand sales and marketing infrastructures in Europe;
•Expand sales and marketing infrastructures in USA;
•Streamline and expand product distribution in the USA, Europe and Australia;and
•General working capital.

Commenting on the announcement, Mr Brian Sheeran, Virotec's Chairman and CEO,
said 'This Placing will allow us to expand both our global presence and
production capacity immediately to meet the growing demand for Virotec's
technologies. We will also use part of the Placing to bring in a number of new
institutional shareholders, further strengthening our share register'.

Under the Placing, the Company has conditionally placed up to 31,000,000 new
ordinary shares (the 'New Shares') at a placing price of 30p (AUD$0.706*) per
share to raise £9.3 million (AUD$21.892 million*) (before expenses). The Placing
has been arranged by Numis. The Placing is subject to a Placing Agreement
between Virotec and Numis becoming unconditional and not being terminated prior
to 14 July 2005 the expected date of Admission or such later date (being no
later than 28 July 2005) which the Company and Numis may agree. The New Shares
will rank pari passu in all respects with the existing Virotec Shares on issue.
It is expected that dealings in the New Shares will commence on AIM on 14 July

* Exchange rate: AUD$2.354 per £1.00, as at 5pm BST, 7 July 2005

Trading Update

Virotec announces that further to its comments regarding its projected financial
result for the year ended 30 June 2005, as announced on 1 December 2004, Virotec
expects to record its maiden profit in the 2005 year. Based on current
calculations and circumstances, Virotec expects to record a profit before tax of
between AUD$3.2 million and AUD$4 million.

In addition, Virotec is pleased to announce that it has entered into a strategic
alliance agreement with the Al-Othman Group of Al-Khobar, Saudi Arabia. The
agreement grants an exclusive right to Al-Othman to market and sell Virotec's
environmental services throughout the Kingdom of Saudi Arabia for a renewable
period of eighteen months.

The agreement includes a revenue performance target of AUD$5.0 million in the
first 18 months of operations and in the event the target is not met, a
Licensing Fee of AUD$200,000 will be payable. All costs associated with the
alliance and the implementation of projects are to be borne by the Al-Othman
Group, and Virotec will begin supplying expertise and training to Al-Othman
staff in the coming months.

'We are extremely keen to extend Virotec's global expansion strategy to the
Kingdom of Saudi Arabia', said Dr Lee Fergusson, Virotec's Chief Operating
Officer. 'To have been approached by such an esteemed partner with an
established government and local industry network throughout the Kingdom and to
begin working on large-scale environmental projects in the region is very

The Al-Othman Group of companies ( is privately owned by the
Al-Othman family, with business activities across a range of industries,
including consulting, dairy and food manufacturing, plastics, and industrial
trading. The Group has an estimated annual turnover of US$300 million. Mr George
Abraham, Director of the Al-Othman Group, said 'After conducting a comprehensive
due diligence of environmental technology and remediation companies in Australia
we have chosen to work with Virotec International because their track record of
success speaks for itself and the suitability of their technologies to the Saudi
Arabian market is very high'.

Market feasibilities have begun, and several projects are at the initial
analysis, testing and scoping phase. It is expected that Virotec's technical
field personnel will begin on-site work within the next two months.

'We believe that the coming decade in Saudi Arabia is going to be one of great
expansion in environmental awareness and application', explained Mr Brian
Sheeran, Virotec's Chairman and Chief Executive Officer. 'We look forward to a
working with Al-Othman management and staff as we position our two companies
with an early-to-market strategic position in the Saudi market'.

Issue of Shares pursuant to the Executive Share Incentive Plans

Virotec also advises that it has today issued the following securities:

2,138,889 Ordinary shares issued at a price of AUD$0.72 per share pursuant to
          the short term incentive plans for executives as approved by 
          shareholders at the Company's Annual General Meeting on 28 November 
          2003 in respect of the year ended 30 June 2005.

340,000   Ordinary shares issued at a price of AUD$0.72 per share pursuant to 
          the long term incentive plans for executives as approved by 
          shareholders at the Company's Annual General Meeting on 28 November 
          2003 in respect of the year ended 30 June 2005.

In accordance with the terms of the short term incentive plan, any shares issued
under the plan cannot be disposed of for a period of 12 months from the date of

The current issued capital of Virotec (prior to the issue of securities under
the placement set out above) is as follows:

206,895,894 Ordinary shares

4,312,500   Options (unquoted) with various expiry dates between 30 July 2005 
            and 31 March 2007 and exercisable at various exercise prices between 
            AUD$0.21 and AUD$1.00.

For more information please contact:

Angus Craig
Virotec International Ltd
+61 7 5530 8014

David Poutney
Nick Westlake
Numis Securities
+44 (0) 20 7776 1500

Nick Fox
Patrick d'Ancona
+44 (0) 20 7153 1540

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

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