News blog

ReEnergy Group

  • BY: Andrew Hore |
  • POSTED: 19/01/2009 |

ReEnergy Group has received the final cash from its disposal to VT Group.

In June 2008, ReEnergy sold its waste separation business to VT Group for £1.64m. There was a warranty claim of £96,000. The warranty claim was settled at just over £3,000 of the £150,000 that had been kept in escrow. After interest and bank charges ReEnergy will receive £148,000.

ReEnergy is looking to reinvest its cash in another business. There was £1.48m in cash at the end of June 2008 but a large chunk of this will have flowed out of the company since then. The closure of the London office in November will have cut the cash outflow.

The shares were unchanged at 1.125p each, which values ReEnergy at £1.15m.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds