Liam, speaking after the Annual General Meeting on 29 April 2013.
Liam, speaking after the Annual General Meeting on 29 April 2013.
Message from Directors
14th March 2013
PROVENTUS RENEWABLES PLC
(“PREN” or “the Company”)
4 MW Hydropower Plants acquisition agreed
Proventus Renewables Plc (“PREN” or “the Company”), a Pan-European company involved in the renewable energy sector focused on activities in Central and Eastern Europe, is pleased to announce the signing of a Memorandum of Understanding (“MoU”) with National Power Company Surdulica LLC. (hereinafter referred to as “NEPC”), a Republic of Serbia based company involved in the construction and operation of Hydroelectricity Power Plant (the “Hydropower Plant “)
PREN has agreed to acquire 50% stake in two hydropower plants of 2 MW each from NEPC in Serbia subject to due diligence.
The consideration for the acquisition shall be financed partly in cash and partly by issue of shares to NEPC shareholders. The project value is approximately Euro 15 Million. Two hydropower plants, MHE Dzep and MHE Ljuti Dol are of 2 MW each.
The scheduled start of work, production and sale of power for MHE Dzep and MHE Ljuti Dol is 1 May 2013.The Contract on the Sale of Power is concluded with the Public Enterprise Electric Power Industry of Serbia for 12 years with guaranteed prices.
Mr. Todor Todorov, CEO of Proventus Renewables said “NEPC’s co-operation with PREN will allow us to develop diverse and new source of renewable energy in our portfolio of renewable energy assets, which will give PREN steady revenue inflows, almost immediately”
The Directors of the company accept responsibility for the contents of this announcement.
For further information on Proventus Renewables plc, please contact:
Liam McGrattan (Chairman)
Todor Todorov (Chief Executive Officer)
Samrat Deep Bhandari (Chief Financial Officer)
Website: http://www.proventus.co
Email: info@proventus.co
Telephone: 0044-203-006-3247
Notes to Editors
The projects
MHE Dzep
The hydropower plant “Dzep” belongs to the category of small, flowing hydropower plants with a medium drop. This hydropower plant covers the water of the basin area of the Dzep River formed by the rivers Mutnica and Garvanica. The Dzep River is a left tributary of the river Juzna Morava, which flows into it directly upstream from Dzep.
The Mutnica and the Garvanica, as the rivers forming the river Dzep, are formed on the western slopes below the top of the Cemernik Mountain, and the direction of the basin is east-west. Directly upstream from the settlement of Dzep the construction of a mechanical facility of MHE Dzep is planned, and water intakes are located 3km upstream. One water intake is located on the Garvanica River, 836m upstream from its confluence with the River Mutnica, and the other on the Mutnica River at 825m upstream from the confluence of the two rivers.
MHE Ljuti Dol
This hydropower plant covers the water of the basin area of the Božicka River, Toplodolska River and other streams of the aforesaid basin. The SHE Ljuti Dol facility is situated in the Cadastral Commune of Gornja Lisina, Municipality of Bosilegrad. The water intakes are situated on the site of the streams Bratin Dol, Gložanska and Romanova Mahala.
Background to Proventus Renewables Plc
Proventus Renewables Plc (“PREN” or “the Company”), is an Ireland-based company involved in the renewable energy sector focused on activities in Central and Eastern Europe. PREN is currently engaged in development and operations of wind farms, hydro-power plants and solar farms in Eastern Europe (Serbia, Greece and Bulgaria). The company is optimally positioned to be at the forefront of the renewable energy sector and in diverse renewable energy technologies.
Background to National Electric Power Company (NEPC)
NEPC has invested in green field projects in the renewable energy sector since 2007.
National Electric Power Company works on green field investments in the field of energy sources, mainly in the territory of the Republic of Serbia, aimed at future exploitation of energy from those sources. Having in mind the renewable energy sources potentials (wind, solar, biomass, geothermal and hydro energy) as well as the valid legal framework, NEPC undertaken investments in small hydroelectric power plants projects.
The term small hydropower plant (MHE) refers to the power plants the installed power of which does not exceed 10 MW.
The first development projects of the NEPC are located in the south of the country, which has resulted in the selection of Surdulica as the seat for the company, which is also the centre of NEPC activities.
Magical Productions plc, the GXG quoted company, releases the first cut promotional trailer for its maiden production
28th February, 2013
SYMBIOSIS HEALTHCARE PLC
(“SHC” or the “Company”)
Appointment of New Directors
The Board of Directors of Symbiosis Healthcare Plc are pleased to announce the appointment of Dr. Samir Jassem Said, as director and Mrs Ritu Bhandari as independent non-executive director of the company with effect from 27th February 2013.
Dr. Samir is holds a PhD in Medical Laser, and is currently the Chairman of the Gulf Deutschland Gmbh. He has more than 30 years experience of working on projects in Germany, Kuwait, Iraq, Qatar, Tunisia, Oman, Bahrain, UAE, and Jordan. His research and projects have been for international organisations and state departments, covering diverse areas such as Maintenance of medical equipment, military equipment, laboratory set-up and maintenance, mineral and organic fertilizers, Solar energy in Kuwait, Laser powered engines, and application of lasers for the destruction of Tanks. Dr. Samir’s focus is on developing Symbiosis in the Middle-east with co-operation of strategic investors and state-governments.
Mrs. Ritu Bhandari is a Bio-medical scientist, and has over 5 years of work experience with NHS Trust Hospitals. She also holds a M.SC in Endocrinology and Reproductive Physiology. Her focus will be tp advice the Board on International expansion program, with focus on medical tourism.
Dr. Muhammad Aleem Mirza, the Chairman and Managing Director of Symbiosis Healthcare PLC, stated “The Board is delighted to welcome Dr. Samir and Mrs. Bhandari, and we are confident that they will make a valuable contribution to its deliberations”.
Dr. Mirza also announced that Non Executive Directors – Mr. Adrian Stevenson and Mr. Shamim Mirza, have decided to stand down from their positions with immediate effect.
The Board of Symbiosis Healthcare PLC acknowledged the time and commitment of both Adrian and Shamim to Symbiosis over many years.
Dr. Muhammad Aleem Mirza has also taken over as Company Secretary.
For further information on Symbiosis, please contact:
Symbiosis Healthcare Plc
Dr. Muhammad Aleem Mirza, Director
Tel: +44 203 0063240
Em: aleem.mirza’symbiosis-healthcare.com
William Albert Securities Limited
Contact: Mr. Albene Mendy
Tel: +44 203 0063247
Em:albene.mendy@williamalbert.com
MAGICAL PRODUCTIONS PLC (“MPL” or the “Company”)
Re-registration as a Public Limited Company
The Board of Directors of Magical Productions Plc (formerly Magical Productions Limited) is pleased to announce that the Company has been re-registered as a Public Limited Company (PLC) with effect from 16th January 2013.
The resolution to re-register the Company as a Public Limited Company was passed with the objective of paving the way for more prospective investors to subscribe for the Company’s shares following its successful admission to the GXG Market in the last quarter of last year.
“One of the building blocks to a strong foundation for expansion of the company is now in place” commented Mr. Bharat Chohan, Chairman of the Board.
The Directors of the company accept responsibility for the contents of this announcement.
For further information on Magical Productions Plc, please contact:
Magical Productions Plc
Mr. Bharat Kumar Chohan
Tel: 0203 051 5961
Email: bharat.chohan@magicalproductions.co
William Albert Securities Limited
Contact: Mr. Albene Mendy
Tel: +44 203 0063247
Em:albene.mendy@williamalbert.com
DAX has witnessed a correction this week and with a loss of 181 points. A long black candle completes an Evening Star pattern, which is a top reversal pattern as per Japanese candlesticks. On the other hand the index has been pushed back within a rising wedge pattern once again, from which it tried to break away in the recent weeks.
This strong comeback of the bulls just above the previous major top of the index is an alarming bell for the immediate short term bulls at least, as the bears have not only taken the bulls by a surprise but also knocked them down real hard. However the decline has been arrested just around 7500 for now, being the intermediate term moving average support. The short term momentum indicators have been pointing out towards a negative divergence building up from quite a while and are still not giving any positive signals.
Having said that, the index remains in a strong intermediate uptrend and the corrections are likely to be utilized as a buying opportunity by traders and investors. 7000 odd levels remains the key support for the index over next few weeks which is the likely target for this leg of correction and we therefore recommend traders to book profits on rallies for now while aggressive shorts can be built on rallies with a stop loss above 7900 for targets of 7000-6950.
