AGM Statement and Board changes

RNS Number : 6977I

Mercury Recycling Group PLC

20 June 2011

 



Mercury Recycling Group Plc

Chairman's Announcement for AGM

Board changes

I promised shareholders that I would notify them as soon as I had results from the ongoing discussions we were holding with Recolight, the operator of the UK's major producer compliance scheme within the lamp recycling sector.  I am pleased to say there have been constructive and positive discussions.  The expected outcome seems likely to be a helpful step in the right direction .

As I announced in my statement on 23^rd May, we are pressing ahead in the Battery Recycling market.  We have established the company Battnett (Battery Network), and we are investing in it so that I am now confident, following discussions we have had with the Battery Compliance Schemes, that we will be able to expand our current battery recycling levels by the end of this year.  I very much hope to be able to announce additional progress in this market soon.

As previously announced, Joe Dwek and Anthony Leon have retired from the board.  In addition, Nick Harrison has been appointed non executive Finance Director with immediate effect.

I would also like to advise shareholders that given the considerable experience of our new directors Giles Clarke and Nick Harrison in the natural resources sector, we have begun to explore opportunities in this area.  There have been serious discussions on various projects.  These are all still at an early stage.  I hope to be able to make further announcements as matters progress.

The Rt Hon The Lord Barnett JP PC

Chairman

For further information, please contact:

Mercury Recycling Group plc                    

Bryan Neill, Managing Director

Telephone [phone]

Shore Capital and Corporate Limited

Andrew Raca, Corporate Finance

Jerry Keen, Corporate Broking

Telephone: [phone]

 

END

 

 

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