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Nature Technology Solutions Ltd

  • BY: Andrew Hore |
  • POSTED: 05/02/2008 |

Nature Technology Solutions says the sale of the stake in its Gibraltar-based joint venture will be delayed. 

Additional time will be needed to gain approval of the change in the site lease with the government of Gibraltar. There will be an extension to the letter of intent of up to six weeks.

NTS will receive $6m (£2.9m) for its stake. It still intends to return at least some of the cash to shareholders.

NTS will be left with its Norwegian operations in Stavanger. It is carrying out trials of the treatment of waste received from a designated offshore rig. If this treatment is successful onshore then it could lead to a first deployment of the Offshore Rig Unit in the North Sea.

Nature intends to release its 2007 results during May. The shares jumped 0.15p to 0.75p.

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