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Nature Technology Solutions Ltd

  • BY: Andrew Hore |
  • POSTED: 23/12/2008 |

Nature Technology Solutions Ltd is buying the other 50% of its port waste services Gibraltar-based business.

Wastewater treatment company Nature is paying 14.04m shares to WOMS for 50% of Slop Oil Reception and Treatment Ltd. Nature chairman Richard Eldridge – or at least his family trust Trucial Energy Ltd – is paying 20p a share for 2.39m of these shares. 

WOMS will end up with 29.99% of Nature and Eldridge and his family interests will own 10.5%. WOMS is owned by a family trust of Darren Laguea, the MD of SORT and a proposed director of Nature. 

Earlier this year Nature planned to sell the business but the deal fell through. Nature would have received around £2.9m for its 50% stake.

SORT made profits of £437,000 on turnover of £1.05m in the six months to June 2008 and it should produce a similar second half profit.

At 8.5p a share, nature is valued at £2.11m before the latest share issue – or around £3.3m after it.

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