Information  X 
Enter a valid email address

Legendary Invest PLC (LEG)

  Print      Mail a friend

Wednesday 06 November, 2013

Legendary Invest PLC

Investee company update - Bosques Energeticos

RNS Number : 2898S
Legendary Investments PLC
06 November 2013
 



6 November 2013

 

Legendary Investments Plc ("Legendary")

Investee Company Update - Bosques Energeticos EBE S.A. de C.V. ("Bosques")

 

Early and high yielding plants developed

Legendary, the proactive investment company, is pleased to report that exciting progress has been made at its investee company, Bosques where the best strain of the generation two elite pongamia ("G2P") is flowering in less than two years and already exhibiting seed pods, and the recently developed high yielding generation four jatropha ("G4J") is yielding seeds in as early as six months and producing high yields.

In November last year, we reported that Bosques elite pongamia had flowered in two and a half years, where the norm for elite pongamia is four years or more. Legendary is now pleased to report that the best strain of the G2P scions which were successfully rooted in November 2011, have flowered in 23 months and are exhibiting seed pods (which at maturity contain seed). We believe that this is another first for Bosques. Bosques has 120 G2P of which some 30% have already flowered and are already exhibiting seed pods.

Bosques has also developed early and high yielding G4J. The G4J commences yielding seeds in as early as six months. In addition, it exhibits multiple branching leading to high yields. Under optimal conditions, G4J is projected to yield 6,000 plus kg of seeds per hectare in year five. Bosques has 4,000 G4J plants. Bosques jatropha, including G4J, unlike many jatropha, is edible. Cake from edible jatropha can be used as animal feed, further increasing the value of the G4J.

Reducing the time to seeds and increasing yield brings forward and increases cash flows.

While Bosques has developed elite plants and continues to refine them further, it is in discussions to obtain access to around 1,500 hectares of land suitable for growing its plants on a larger scale.

Zafar Karim, Executive Chairman, of Legendary said:

"We are pleased with the progress being made at Bosques. The strategy of focussing on research and innovation is paying off. Each generation of plant has been superior to the previous with both time to yield and yield improving. The next step is to plant on a larger scale."

For further information, please contact:

Legendary Investments Plc

Zafar Karim / Thomas Reuner

 

020 8201 3536

Grant Thornton UK LLP

 

Colin Aaronson/ Melanie Frean / Jen Clarke

 

020 7383 5100

SI Capital                

 

Nick Emerson/ Andrew Thacker

01483 413500

Newgate Threadneedle

Caroline Evans-Jones

020 7653 9850

 

 

About Legendary Investments Plc

 

Legendary is a proactive investment company that focuses on making investments in and assisting companies which exhibit the potential to generate returns of many multiples through capital appreciation.  Typically, Legendary invests in small companies where there are clear catalysts for value appreciation and the companies are operating in sectors exhibiting long term growth. Examples of such sectors include technology, energy, natural resources and mining. Legendary is incorporated in the UK, which is its principal country of operation.


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

a d v e r t i s e m e n t