Australia's Environmental Group at 13-1/2-year high on successful trial results

Environmental

08/12/2021 24:45

** Shares of emission control systems provider Environmental
Group  EGL.AX  rise as much as 34.3% to A$0.235, their highest
since May 12, 2008
    ** Co says results from commercial water trial have shown
successful removal of PFAS, a group of man-made chemicals which
may affect health adversely, from various water streams
 urn:newsml:reuters.com:*:nASX1JxV0W
    ** Says the results "exceeded expectations" and proved the
effectiveness of EGL's technology in separating PFAS from a wide
range of liquid waste types
    ** Co also receives commitments to raise A$4.75 mln ($3.38
mln) via placement at an issue price of A$0.175 per share - same
as co's last closing price
    ** Shares on track for their best day since Sept 7
    ** Volumes are 4.9 times the 30-day average of 323,714
shares
    ** As of last close, stock up more than five times in value
this year

     ($1 = 1.4049 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))