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

Viridas PLC (PRS)

  Print      Mail a friend

Wednesday 16 March, 2011

Viridas PLC

Option agreement lapsed

RNS Number : 0175D
Viridas PLC
16 March 2011



"Viridas" or the "Company"


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. 


The Directors continue to believe that environmental, geo-political and economic considerations will provide opportunities for a successful jatropha business, but in the difficult current economic and political climate they no longer believe it will be possible to raise the funds necessary to progress the Viridas project within an acceptable timeframe.


The Directors stated in September 2010 that without tangible investor commitment by the end of the year the feasibility of the jatropha project would have to be reviewed.


Accordingly the Directors have been exploring the potential for the company to enter into a transaction using Viridas as a quoted vehicle. In pursuit of this the company announced on 20th January 2011 that it had entered into an option agreement with certain African Investors. The agreement provided, inter alia, for a number of payments to be made by the option holder. The third payment, which was due by close of business on 14 March 2011, has not been made and the option has now therefore lapsed.


In view of the above and the very small amount of funds remaining available to the Company, the Directors are reviewing the options available to the Company which might include placing the Company into some form of administration or other insolvency process. At the moment the Company has the funds to settle in full all creditors of the Company with the exception of liabilities arising from the director contracts.


Under the AIM Rules, the Company will be classified as an investing company. Accordingly, if the Company is not wound up, it will have to seek shareholder approval for a new investing policy.



For more information please contact:


Viridas plc:

Stanley Wootliff, Executive Chairman           +44 (0) 113 235 0632


Nominated Adviser:

Arbuthnot Securities

Antonio Bossi/Paul Gillam                              +44 (0) 20 7012 2000

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