Leaf Clean Energy Company Portfolio Update - MaxWest (9965I)
June 06 2014 - 1:00AM
UK Regulatory
TIDMLEAF
RNS Number : 9965I
Leaf Clean Energy Company
06 June 2014
Leaf Clean Energy ("Leaf" or the "Company")
6 June 2014
Portfolio Update - MaxWest investment written to nil
Leaf Clean Energy have been advised by the Company's
representatives on the Board of MaxWest Environmental Systems,
Inc., ("MaxWest") that it is experiencing severe financial
difficulties. Maxwest recently requested further funding from Leaf
and other investors to finance its business but neither Leaf nor
any other investor made an additional investment.
The Company has a 44.0% interest in MaxWest and as at 31(st)
December 2013 the Company valued its interest as US$17.2 mn (out of
a total portfolio value of US$162.6mn). On the basis of this new
information the Company has written the value of the investment to
nil.
Enquiries:
Leaf Clean Energy +1 (415) 264 5096
Mark Lerdal, Chairman
Cenkos Securities plc 0207 397 8980
Ivonne Cantu, Nomad
This information is provided by RNS
The company news service from the London Stock Exchange
END
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