Thursday, 11 March 2010

Leaf Clean plans share buy-back

Date: Wednesday 10 Mar 2010
LONDON (ShareCast) - Leaf Clean Energy, which recently saw its plans to merge with carbon trader Trading Emissions fall through, said it plans to buy back just under 15% of its shares at no more than 65p a share. The clean energy investment company’s net asset value (NAV) per share at the end of 2009 was 158.23 US cents, equivalent to around 105.7p per share. The company said its investments are performing ‘adequately against a difficult background’ and it remains confident that its portfolio will generate value. ‘The prospects for the environmental/clean energy market look considerably more positive than six months ago, as the underlying drivers remain strong - increasing focus on climate change and the environment more broadly and energy security issues,’ the company’s asset advisor, EEA Fund Management, said. The company saw loss before tax in the six months to 31/12/09 narrow to $22.83m from $39.51m in the corresponding period of 2008.