Directors' Share Dealings and

RNS Number : 9654U

TEG Group (The) PLC

02 July 2009

 



For release

2 July 2009

The TEG GROUP PLC (TEG)

('TEG' or 'the Company')

Directors' share dealings and grant of options

The TEG Group, the AIM-listed cutting edge green technology company which converts organic wastes into natural organic fertiliser, announces that on 1 July 2009 it was informed that on 1 July 2009, Mick Fishwick and Tanja Willis each acquired 10,000 ordinary shares in the Company at a price of 46 pence per share. Following the share purchase, Mick Fishwick will be beneficially interested in 21,000 shares and Tanja Willis will be beneficially interested in 21,000 shares.

In addition, the Company announces that, pursuant to a resolution of the Remuneration Committee, on 1 July 2009 the Company granted to Mick Fishwick and Tanja Willis 625,803 options and 314,423 options respectively, exercisable into ordinary shares at an exercise price of 46p per share. The options vest after a period of three years, have a life of 10 years from the date of grant and are subject in each case to the individual's continued employment with the Company. 

Following the grant of options, Mick Fishwick will hold 1,591,151 options and Tanja Willis will hold 795,576 options, representing 3.0% and 1.5% respectively of the current issued share capital in the Company.

ENDS

Contact:

The TEG Group Plc                              Tel: [phone]

Tanja Willis, Finance Director

Peckwater PR                                        Tel: [phone]
Tarquin Edwards

Canaccord Adams (Nomad)              Tel : [phone]

Robert Finlay
Guy Blakeney

Editor's Notes: 

TEG

TEG provides an in-vessel composting technology, which is one of the few approved technologies capable of treating animal by-product (ABP) waste. Plant economics are predominantly driven by the gate fees charged, rather than the value of the end product (compost). The TEG process is an economic alternative to landfill.

The Silo Cage system, one of the few technologies in Europe capable of treating this waste, is a natural process producing compost as an end product, used as an excellent soil conditioner that fertilises, retains moisture, provides structure and reduces the incidence of plant disease. TEG's Silo-Cages are housed in self-contained buildings, are not unsightly and are environmentally friendly.

Customers include local authorities, waste management companies, food processors, farmers and landowners. The Company's expanding market is driven by increasingly stringent EU and UK legislation regulating the treatment and disposal of organic waste. Statutory targets for the diversion of waste from landfill increase annually through to 2020, increasing TEG's market opportunity year on year. The Waste Resource Action Programme estimates that 450 composting plants will be needed by 2020 to satisfy local authority requirements alone, and there is increasing demand from the private sector driven by ABP legislation.

NOFCO is a marketing company specialising in the development of end markets for compost products, an important aspect of all plant developments and key to local authority development. The company has an expertise in the development of agricultural and horticultural markets and this capability is to be provided to customers to enhance TEG's overall service offering.

 

END

 

 

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