LONDON--Neos Resources PLC (NEOS.LN), which produces, sources,
processes, transports & finances non-edible crude oil &
non-edible oil seed cake products in the Indian and S.E. Asia
markets, said Friday it has successfully sourced and supplied 200
tons of Used Cooking Oil, or UCO to a global energy group for which
it has received an undisclosed commission.
MAIN FACTS:
-Company has also now contracted to supply a further 500 tons of
UCO.
-Company has received indicative terms for a $2.7 million trade
finance facility from S.C.C.F. Structured Commodity and Corporate
Finance S.A.R.L in order to fund the anticipated increased supply
volumes.
-Neos' wholly owned subsidiary, D1 Oils Trading Ltd., has
reached an agreement with BP International Ltd. to reduce the
deferred consideration payable to BP International in connection
with the acquisition by D1 Oils of 50% of D1-BP Fuel Crops Ltd.
from BP International.
-BP International has agreed to accept 150,000 pounds in full
and final settlement of the obligation to pay the remainder of the
deferred consideration, which D1 Oils has Friday paid.
-Shares at 1240 GMT up 20% at 1 pence valuing the company at
GBP1.16 million.
-Write to Ian Walker at ian.walker@dowjones.com
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