13 Feb 2009 07:00
Ludgate Environmental Fund Limited
("Ludgate Environmental" or the "Company")
Announcement re Hydrodec Group plc
The board of Ludgate Environmental Fund Limited ("LEF") has noted the statement made by Hydrodec Group plc ("HYR" or the "Company") on 10 February concerning the fact that the Company had not secured debt financing for the new Laurel North American refinery development by the end of January 2009 which had been the Company's expectation. In addition, the Board of LEF has noted the significant fall in the value of the Company's shares both before and after the announcement. Based on the Company's closing share price on 11 February 2009 the impact of the fall in value of the Company's shares on LEF's Net Asset Value would be a reduction of 6.56 pence per LEF share from the £1.12 per share as at 31 December 2008
For further information contact:
Ludgate Environmental Fund Limited +44 (0) 20 7621 5770
John Shakeshaft, Chairman
Ludgate Investments Limited +44 (0) 20 7621 5770
Nick Pople / Nigel Meir
PricewaterhouseCoopers LLP (Nomad) +44 (0) 20 7213 8898
Melville Trimble
Carbon International +44 (0) 20 7483 7202
David Hopkins / Samantha Hill
Fairfax I.S. PLC (Broker) +44 (0) 20 7598 5368
Ewan Leggat