1 August 2011 – Vivergo Fuels and trading update

The group has announced that an independent adjudicator has determined that Vivergo unlawfully terminated its contract with Redhall Group and so the company is now seeking damages for this together with the payment of monies which have been withheld by Vivergo.  These monies total £16.7m at 30 June although any settlement remains subject to normal legal process and the timing of this remains uncertain.  Trading and cash flow in the third quarter of the group’s financial year, covering the three months to 30 June, have been in line with expectations and we move our recommendation back to BUY.