Statement re SGS temporary suspension as a DOE
PRESS RELEASE
EcoSecurities: Statement re SGS temporary suspension as a DOE
Dublin, 14 September 2009: EcoSecurities Group Plc ("EcoSecurities"),
a leading organisation in the business of sourcing, developing and
trading carbon credits from greenhouse gas emissions projects, has
noted the temporary suspension of SGS United Kingdom Ltd's ("SGS")
accreditation for validations and verification of Clean Development
Mechanism ("CDM") projects by the CDM Executive Board at EB 49 on
11 September 2009.
SGS are one of a number of the Designated Operational Entities
("DOE") used by EcoSecurities to validate and verify registrations
and issuances from its portfolio of CDM projects. EcoSecurities has
appointed SGS as DOE in respect of:
* 7 projects which are currently being verified comprising
approximately 370,000 CERs; and
* 7 projects which are currently being validated comprising
approximately 2.5 million CERs in the net pre-2012
portfolio.
Bruce Usher, CEO, EcoSecurities stated: "While this situation is
unfortunate for the CDM, the effect on EcoSecurities is not expected
to be significant due to the small number of projects and the related
portfolio CERs that SGS is working on for EcoSecurities. The board of
EcoSecurities is confident that the Company will manage the impact of
SGS's temporary suspension."
-Ends-
Enquiries
For further information please contact:
EcoSecurities Group plc
James Thompson, CFO +353 1 613 9814
Adrian Fernando, COO +353 1 613 9814
Citigate Dewe Rogerson
Kevin Smith +44 (0) 20 7282 1054
Ged Brumby +44 (0) 20 7282 2996
RBS Hoare Govett Limited
Justin Jones +44 (0) 20 7678 8000
Hugo Fisher +44 (0) 20 7678 8000
Director's Responsibility Statements
The directors of EcoSecurities accept responsibility for the
information contained in this announcement. To the best of the
knowledge and belief of the directors of EcoSecurities (who have
taken all reasonable care to ensure that such is the case), the
information contained in this announcement is in accordance with the
facts and does not omit anything likely to affect the import of such
information.
Financial Advisers
RBS Hoare Govett Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting
exclusively for EcoSecurities and no one else in connection with this
matter and will not be responsible to anyone other than EcoSecurities
for providing the protections afforded to clients of RBS Hoare Govett
Limited nor for providing advice in relation to this matter, the
content of this announcement or any matter referred to herein.
Rule 8.3 - Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Irish Takeover Panel Act
1997, Takeover Rules, 2007 and 2008 (the "Takeover Rules"), if any
person (other than a "recognised intermediary") is or becomes
"interested" (directly or indirectly) in 1 per cent. or more of any
class of "relevant securities" of EcoSecurities, all "dealings" in
any "relevant securities" of EcoSecurities (including by means of an
option in respect of, or a derivative referenced to, any such class
of "relevant securities") must be publicly disclosed in accordance
with Rule 2.9 of the Takeover Rules, including the details set out in
Rule 8.6 of the Takeover Rules, by no later than 3.30pm (London time)
on the London business day following the date of the relevant
transaction. This requirement will continue until the date on which
the offer becomes, or is declared, unconditional as to acceptances,
lapses or is otherwise withdrawn or on which the "offer period"
otherwise ends. If two or more persons "act in concert", to acquire
an "interest" in "relevant securities" of EcoSecurities, they will be
deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Takeover Rules, all
"dealings" in "relevant securities" of EcoSecurities by the offeror
or EcoSecurities, or by any of their respective "associates", must be
disclosed by no later than 12.00 noon (London) on the London business
day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose
"relevant securities" "dealings" should be disclosed, can be found on
the Irish Takeover Panel's website at www.irishtakeoverpanel.ie. The
Irish Takeover Panel also provides an appropriate form for any
disclosures under Takeover Rules 8.1 or 8.3.
'Interests in securities' arise, in summary, when a person has long
economic exposure, whether conditional or absolute, to changes in the
price of securities. In particular, a person will be treated
as having an 'interest' by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative
referenced to, securities.
Terms in quotation marks are defined in the Takeover Rules, which can
also be found on the Irish Takeover Panel's website. If you are in
any doubt as to whether or not you are required to make a disclosure
under Rule 8, you should consult the Irish Takeover Panel.
In addition to copies of the documents listed as available for
inspection in EcoSecurities' response circular to the offer of 77
pence per ordinary share made by Guanabara Holdings B.V.
("Guanabara") dated 4 August 2009, a copy of this announcement will
be available for inspection at the offices of Matheson Ormsby
Prentice, 70 Sir John Rogerson's Quay, Dublin 2 during normal
business hours on any weekday (Saturday, Sunday and public holidays
excepted) whilst the offer of 90 pence per ordinary share made by
Guanabara on 4 September 2009 remains open for acceptance.
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund