Greenvironment: Reverse Split approved at the Annual General Meeting
(firmenpresse) - Berlin, 28th September 2011 - Greenvironment Plc (WKN: A0YEKX / Symbol: GIV) is pleased to announce that the shareholders of the company today unanimously approved all resolutions put to the 2011 Annual General Meeting (AGM) in London.
It included a reverse stock split on the basis of one (1) new common share for every existing ten (10) common shares (the "Consolidation"). This means that the holding of 10 shares of 1 pence par value will be converted into 1 share of 10 pence par value. The end result is that each shareholder will hold one tenth of the number of shares they previously held, but that their percentage holding in the Company has not changed.
The effective date of the change in share structure is 29th September 2011. The price per share on the market can be expected to increase tenfold. The rights of the Ordinary Shares following the Consolidation will be identical to those before the Consolidation.
For the avoidance of doubt, the Consolidation has not changed the net value of shares currently in issue (subject to market fluctuations). The Conversion has been implemented in response to a recent announcement from the Deutsche Boerse confirming that all Companies with shares traded on the Open Market of the Frankfurt Stock Exchange seek to ensure that the minimum par value per share is the equivalent of 0.10 Euro. The Company, Board of Directors and shareholders have now approved the necessary corporate action to change the capital structure to comply with the new directive by the Frankfurt Stock Exchange.
New share certificates in respect of the New Ordinary Shares are expected to be posted, at the risk of shareholders, by 5th October 2011 to those shareholders who, on the Share Consolidation Record Date, hold their Existing Ordinary Shares in certificated form. These will replace existing certificates which should then be destroyed.
Pending the receipt of new certificates, transfers of New Ordinary Shares held in certificated form will be certified against the register of members of the Company. All Existing Ordinary Shares standing to the credit of CREST accounts are expected to be consolidated into New Ordinary Shares at 8.00 a.m. on 30th September 2011. The new ISIN will be GB00B3TDV635.
Matti Malkamäki, CEO of Greenvironment Plc, said: "As of today Greenvironment has already now been able to secure 12 million Euro worth of revenues for the current fiscal year. This figure includes signed projects, some completed and some in completion but all scheduled for completion before the end of our current fiscal year (end of February 2012). So we are well on track to reach our forecast of more than 20.0 million Euro in revenues and a breakeven net profit for the current fiscal year. In the past three months alone, we received new orders with a total volume of nearly 7.0 million Euro. Our sales pipeline remains very strong.”
About Greenvironment
Greenvironment is a European company active in the decentralized energy generation market which plans, builds and operates cogeneration heat and power plants (CHP). The company offers CHP plants in a power range of 30 kWel to 4 MWel and is a market leader in the use of innovative microturbine technology in electricity generation from biogas and natural gas. Greenvironment is an important distribution and technology partner of Capstone Turbine Corp. (Nasdaq: CPST), the world-market leader in the production of microturbines.
Microturbines benefit from high availability, low maintenance requirements, low emissions, favourable EEG and KWKG bonus compensation and flexible heat utilization. All Greenvironment CHP plants are operated by a highly efficient centralized process management system at the operations centre in Berlin. See also the new CEO Blog in the investor relations sections of our website www.greenvironment.com.
The complete AGM agenda can be found on http://greenvironment.de/uploads/media/110902AGM_document_eng.pdf.
For further information:
Michael Gawenda
CFO Greenvironment Plc
Tel.:+49 (0)30 311 6712 30
Fax:+49 (0)30 311 6712 59
E-Mail: IR(at)greenvironment.com
LEGAL DISCLAIMER
This publication serves information purposes only and constitutes neither an offer to sell nor a solicitation to buy any securities of Greenvironment Plc. This press release contains forward-looking statements based on the beliefs of Greenvironment management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Greenvironment as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Greenvironment disclaims any intention or obligation to update these forward-looking statements.
Leseranfragen:
" alt="Silvermex reports interim unterground drill results from La GuitarraDatum: 28.09.2011 - 16:19 Uhr
Sprache: Deutsch
News-ID 69802
Anzahl Zeichen: 5433
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 264 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Greenvironment: Reverse Split approved at the Annual General Meeting
"
steht unter der journalistisch-redaktionellen Verantwortung von
Greenvironment PLC (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
