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Mercury Recycling

  • BY: Andrew Hore |
  • POSTED: 20/06/2011 |

Fluorescent tubing recycler Mercury Recycling says that its new directors Giles Clarke and Nick Harrison have experience in the natural resources sector and they are exploring opportunities in this area.

Mercury’s main shareholder is Westleigh Investment Holdings Ltd, whose boss is England and Wales Cricket Board chairman Giles Clarke. Westleigh also has a stake in Amerisur Resources, which is exploring for oil and gas in Colombia and Paraguay, and Clarke is its non-executive chairman.

Nick Harrison has been appointed non executive finance director, while Joe Dwek and Anthony Leon have resigned.

Mercury is continuing with its existing operations and is investing in its Battnett battery recycling business and hopes to expand battery recycling levels.

Mercury is trying to negotiate better prices for recycling services from Recolight, which operates the main compliance scheme within the lamp recycling sector. Management says that the negotiations have been constructive and positive. The EU wants 85% of lamps recycled by 2016.

At 9.75p a share, Mercury is valued at £3.49m.

Mercury has switched its nomad and broker from Smith & Williamson to Shore Capital.

Download the June 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJune2011_21.pdf

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