Molectra Loan Agreement
August 02 2007 - 3:02AM
UK Regulatory
RNS Number:3772B
Greenhouse Fund Limited (The)
02 August 2007
For immediate release 2 August 2007
The Greenhouse Fund Ltd
("Greenhouse" or "the Company")
Loan to Molectra for purchase of site
The Directors of Greenhouse (AIM:GHF) are pleased to announce the issue of a
draw down loan of up to AUS$4.5m to Molectra Australia Pty Ltd ("Molectra"), its
58% owned subsidiary.
The loan will allow Molectra to continue its commercialisation plan. The funds
will be used to secure a site for the establishment of the first full-scale
Molectra plant, designed to process c.2.5 million tyres per year or 20,000
tonnes. It is anticipated that this full scale plant will cost c.#6 million to
build and take c.12 months to construct. A site outside Sydney in New South
Wales, Australia, has been identified and final negotiations are now taking
place with the authorities.
The secured loan is for up to AUS$4.5m, bears interest and is repayable by
Molectra within a year, or on demand by Greenhouse.
Greenhouse Vice-Chairman Brian Sheeran commented,
"We are delighted that Molectra are looking to secure a site for the next stage
in the commercialisation of their technology, and look forward to them
commencing the building of the full scale plant. This is a key step in the
overall development process that will allow many other areas to move forward."
For further information please contact:
Paul Gazzard,
Greenhouse Advisor Ltd.
Tel: 0207 355 7660
Email: pg@greenhousefund.co.uk
Charles Ryland/Ben Willey
Buchanan Communications
0207 466 5000
Email: charlesr@buchanan.uk.com
Email: benw@buchanan.uk.com
Evolution Securities
Fergus Marcroft/ Stuart Andrews
0207 071 4300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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