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Nature Technology Solutions

  • BY: Andrew Hore |
  • POSTED: 29/11/2007 |

Nature Technology Solutions is selling its 50% interest in Slop Oil Reception and Treatment Ltd for nearly as much as its market capitalisation. 

Waste water treatment company NTS has signed a letter of intent to sell the Gibraltar-based business for $6m (£2.9m). This is “a significant premium to book value”. Completion is expected within 60 days. At 0.65p, NTS is worth £3.2m.

NTS made a small profit in the first half of 2007 and had cash of £556,000 in its balance sheet at the end of June 2007. Investments, likely to be all or predominantly Slop Oil Reception and Treatment Ltd, were valued at £1.8m. The net asset value was £2.6m.

Management has hinted that it may distribute some of the proceeds from the disposal to shareholders.

NTS operates a waste water treatment facility in Norway.

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