Executive Summary
Biofutures International plc is a newly incorporated company that has been established by the Directors to utilise their contacts and experience in order to establish, invest in or acquire assets, businesses or companies in the renewable fuels industry, located in Asia and Europe. The Directors intend to identify businesses or companies they consider to have the potential to produce a favourable return in both the short and medium terms. Acquisitions and investments will be funded with a mixture of cash, equity and possibly debt. The Directors intend actively to monitor any investments and/or acquisitions made by the Company. The Company has not yet commenced trading.
Company History
BIP was incorporated in February 2006, and was listed on the London Stock Exchange AIM market in May 2006, when it raised £3 million on flotation.
BIP made its first investment in November 2006, when it acquired the entire issued share capital of Zurex, a Malaysian company that had been issued with a licence to produce biodiesel from palm oil in Lahad Datu, Sabah, Malaysia. The consideration was satisfied by the issue of 66.67 million new ordinary shares in BIP to the shareholders of Zurex. The new shares issued then represented 45.13 per cent of BIP share capital.
At the same time, BIP raised £11 million through the issue of 44.2 million new ordinary shares at 25p per share.
At the Extraordinary General Meeting (EGM) on 6 June 2008, the Company became an Investing Company.
In November 2008, Zurex was granted an additional license to refine palm oil in Lahad Datu, Sabah, Malaysia.
Current Events
| Event | Event Date |
|---|---|
| Next year end (to be reported) | 31 - Dec - 2010 |
| Next prelim announcement | 29 - Apr - 2011 (TBC) |
| Next annual report due | 30 - Apr - 2011 (TBC) |
| Next AGM | 25 - Jun - 2011 (TBC) |
| Next interim announcement | 27 - Sep - 2009 (TBC) |
| Event | Event Date |
|---|---|
| Last interim announcement | 29 - Sep - 2010 |
| Last interim period end | 30 - Jun - 2010 |
| Last AGM | 25 - Jun - 2010 |
| Last annual report | 30 - Apr - 2010 |
| Last prelim announcement | 30 - Apr - 2010 |
| Last year end | 31 - Dec - 2009 |
First Half - October 2010 - Construction update
Based on the latest progress report, we are happy to note that the works on the…
