Notice of Results and Current Cash Balance

RNS Number : 5419B

Camco International Ltd

18 April 2012

 



18^th April 2012

Camco International Ltd

("Camco")

Notice of Results and current cash balance

Camco International Limited ("Camco" or "the Company"), a global developer of clean energy projects and solutions to reduce greenhouse gas emissions announces that it will be publishing its full year results for the year ended 31^st December 2011 on Tuesday May 22^nd.

The Company's cash balance as at 13th April 2012 was approximately €17million (€11.3 million at 31 December 2011)¹, following on-going performance of the business this year and completion of certain carbon transactions. Camco's joint venture in South East Asia also holds a cash balance of approximately €20 million as at 31 March 2012.

Scott McGregor, Camco CEO said "Our teams have been working hard this year with respect to restructuring our carbon business model in light of market conditions and I look forward to announcing our full results and restructuring in May. Since the year end our clean energy projects business has continued to expand as planned and our carbon business has performed well considering the difficult carbon pricing environment."

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¹ The company holds project cash balances in addition to corporate cash balances disclosed above. The projects cash balance are for specific clean energy projects in the USA and represent drawn down of debt and equity funds to be utilised for construction of projects. As at 13 April 2012 this project cash balance was €2.5m and as at 31 December 2011 €3.5m. Total cash balances including project cash (excluding SEA JV cash) at 13 April 2012 are €19.5m (€14.8m 31 December 2011).

Enquiries:

Camco	[phone]
Scott McGregor, Chief Executive Officer
Singer Capital Markets (Camco Nominated Adviser and Broker)	[phone]
Jonathan Marren
Kreab Gavin Anderson (Investor Relations)	[phone]
Ken Cronin
Citigate Dewe Rogerson (PR Advisor)	[phone]
Chris Gardner / Malcolm Robertson

Notes to editors:

About Camco

Camco International Limited (Camco, AIM: CAO) is a global developer of clean energy projects and solutions to reduce greenhouse gas emissions with operations in the US, the UK, China, Africa, Russia and SEA.

Camco has a 20-year track record in project development, technical delivery and policy development, working with local industry, multinational companies, governments and regulatory bodies.

The Carbon Project Development business has created one of the largest emission reductions portfolios and has structured ground breaking and innovative arrangements for the sale and delivery of emission reductions to compliance and voluntary buyers.

Camco's Clean Energy Project Development and Investment teams collaborate with industry, project developers, equipment providers and investor groups to create emissions-to-energy projects and maximise sustainable energy production across a range of industries; including agricultural methane, industrial energy efficiency, coal mine methane, municipal solid waste, biomass and landfill gas.

The Energy and Carbon Advisory teams provide strategic, commercial and technical expertise accrued over two decades to deliver low carbon energy and sustainable development solutions.

www.camcoglobal.com

 

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