Allgreentech International Plc to List on the Frankfurt Stock Exchange
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Allgreentech International PLC /
Allgreentech International Plc to List on the Frankfurt Stock Exchange
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First Malaysian company to go public in Germany
Petaling Jaya, Malaysia, June 01, 2011, the Board of Directors of Allgreentech
International Plc (Ticker: V7E, ISIN: GB00B65SNJ08), a UK registered investment
company with its operating headquarter in Petaling Jaya, Malaysia, today
announces its listing on the Open Market of the Frankfurt Stock Exchange. The
listing was achieved through a reverse merger with Veritrak Enerflo Plc.
Allgreentech's strategy is to buy, build and grow a portfolio of companies that
are aligned directly or indirectly to the Energy, Resources and Environment
sectors. The objective is to create shareholder value through exploiting
synergies between portfolio companies and improving their financial and
environmental performance.
Allgreentech, through its wholly owned Malaysian subsidiary Acepoint Venture
Sdn. Bhd., to date has built up a portfolio of three companies:
Malaysian Mega Galvaniser Sdn. Bhd. (MMG): With revenues of RM 33.69 million
(?7.78 million) and an EBIT of RM 5.15 million (?1.19 million) in 2010, MMG is
an ISO 9001:2008 certified hot dip galvanizing company with a large
international client base. Founded in 1996, to date the Company has galvanised
over 600,000 tonnes of steel for projects in Malaysia, China, Japan, Korea,
Australia, North America and the Middle East. By implementing a number of
measures, AGT managed to improve MMG's energy efficiency significantly and
thereby its financial performance. AGT furthermore is exploring opportunities in
relation to recycling waste heat and water.
Euro Metal Sdn. Bhd. (EM): With revenues of RM 59.47 million (?13.76 million)
and an EBIT of RM 946,077 (?218,494) in 2010, EM is primarily active in trading
of non-ferrous metals. EM is a major supplier of zinc to the galvanizing
industry as well as trades in related supplies in the region. Revenues are
generated mainly from sales of special grade and secondary zinc to local and
overseas customers. Euro Metal was a strategic acquisition to ensure that MMG
has a secure source for its main raw material, i.e. zinc. It also markets value
added services to clients and secures contracts for projects.
Allgreentech Properties Sdn. will acquire and manage the group companies'
buildings and land, enhance the value of these assets and pursue opportunities
external to the group's needs.
Mr Navin Sidhu, CEO for Allgreentech, stated, "At present we have a strong group
of core companies that provide a sound basis from which to expand our business.
What we offer is high quality, as witnessed by MMG's ISO certification and our
ability to take on complex international projects, at very competitive prices.
Although our current portfolio is wholly Malaysian, which provides a number of
important advantages such as low operating costs and certain tax benefits
related to our environmental initiatives, we intend to grow internationally.
Our existing companies already operate on a global scale and we are currently
pursuing opportunities outside of Malaysia in low energy consumption lighting,
as well as in solar, wind, and related energy production systems."
"We differ from other green companies in that our portfolio companies do not
necessarily have to be engaged in a business where revenues are generated from
green activities, though, as I indicated above, we are looking at opportunities
in this direction. Rather, we look at enhancing the environmental performance of
our portfolio companies as a strategic objective, one that serves to enhance
operations and hence the value of the business. Furthermore, we look to take
advantage of synergies between group companies. For example, Euro Metal is a
supplier to MMG, thereby securing for MMG its essential raw material and for
Euro Metal a stable customer relationship."
"Pursuing a listing in Germany is part of our strategy to increase our
international visibility as well as increase our local standing. We have a very
sound financial position and are able to pursue our strategy without needing
additional funds, however, it could happen that we come across certain
opportunities that do require raising capital, and having a listing will make
this easier."
"Although we commence trading on the Open Market, it is our intention to grow
through to more senior stock market segments. To do so, we intend to engage in
an open, transparent and active dialogue with the investment community, in
essence raising our corporate governance to a level not yet required of our
company."
Share information
Market segment: Open Market
ISIN: GB00B65SNJ08
WKN: A1C0ZW
Ticker: V7E
Shares outstanding: 3,256,397,615 Ordinary Shares
The Company will implement a reverse share split shortly to rationalize the
number or shares outstanding.
Accounting standard: IAS/IFRS
Designated sponsor: BankM, Repräsentanz der biw Bank für Investments
und Wertpapiere AG
About Allgreentech International Plc
Allgreentech International Plc is an investment company with its operating
headquarter in Petaling Jaya, Malaysia, that looks to create shareholder value
through buying, operating and improving companies directly or indirectly aligned
with the energy, resources and environment sectors. The Company aims to acquire
profitable companies and improve their financial performance through the
implementation of green initiatives that enhance operational initiatives. With a
current portfolio of three companies, active in galvanizing, metals trading and
property management, the company has managed to achieve strong synergies.
Management aims to create shareholder value through a buy, hold, improve and
grow strategy.
For more information
Allgreentech International PLC (Co. No: 07216586)
Mr. Navin S. Sidhu
5th Floor, West Wing, Quattro West, No. 4 Lorong Persiaran Barat,
46200 Petaling Jaya, Selangor, Malaysia
tel. +(603) 7957 1115, +(603) 7957 2115 fax. +(603) 7957 3115
email. info(at)allgreentechplc.com
url. www.allgreentechplc.com
SCHWARZ FINANCIAL COMMUNICATION
Frank Schwarz
Humboldtstrasse 11
65189 Wiesbaden
tel. + 49.611.1745.398.0
email. schwarz(at)schwarzfinancial.com
--- End of Message ---
Allgreentech International PLC
5th Floor, West Wing, Quattro West, No. 4 Lorong Persiaran Barat Petaling Jaya, Selangor Malaysia
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
Press Release as PDF:
http://hugin.info/147878/R/1520598/456937.pdf
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Source: Allgreentech International PLC via Thomson Reuters ONE
[HUG#1520598]
Datum: 01.06.2011 - 10:39 Uhr
Sprache: Deutsch
News-ID 55212
Anzahl Zeichen: 8331
contact information:
Town:
Petaling Jaya, Selangor
Kategorie:
Business News
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