News blog
Renova Energy
- BY: Andrew Hore |
- POSTED: 17/10/2008 |
Brewin Dolphin has resigned as nominated adviser to Renova Energy.
Renova has until 18 November to find a replacement or its quotation will be cancelled.
The shares have been suspended since 20 May 2008. At 3.125p a share, Renova is valued at £1.02m.
The company’s US subsidiaries filed for Chapter 11 protection on 20 June. This happened after the company ran into financing problems for its ethanol plant in Heyburn, Idaho. The core ethanol production and distribution business is trading profitably but that cash can’t be repatriated to the UK holding company.
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