03/07/2008 

Green chemicals plc
("green chemicals plc" or the "Company")
 
Financing: Related Party Transaction; Share Placing
Financing
 
The Company has secured additional funding in the amount of £500,000 before 
expenses to finance its product development, regulatory approvals and 
commercialisation programme.
 
This falls into two elements: £250,000 of new equity capital and £250,000 of 
new, unsecured loan capital.
 
Share Placing
Hichens, Harrison & Co. plc, Financial Adviser to green chemicals plc, has 
placed 64,935 new ordinary shares of 5 pence ("Shares") at £3.85 each 
being the PLUS mid-market closing price on 27 June 2008) on the Company's 
behalf with Martin Penny, to raise £250,000 before associated costs. 
Mr. Penny is the founder and Managing Director of Jemella Group, trading as 
ghd (Good Hair Days), with which group the Company announced on 3 December 
2007 it had entered into a letter of intent. 
 
Welcoming Mr. Penny to the shareholders' register, Chairman David Norwood 
said, "We are delighted that Martin has decided to invest in green chemicals 
plc; we believe this, in part, reflects the progress we have made and 
continue to make in the development of innovative, "cleaner, greener and 
safer" permanent hair colorants. The potential professional and consumer 
market for such products is substantial, both domestically and 
internationally. We look forward to continuing to work with Martin's group 
and others to commercialise this technology." 
 
Loan Capital
Richard Farleigh, a significant (12.69 per cent on 30 June 2008) 
shareholder of the Company, a co-founder and former director of green 
chemicals plc's predecessor company, Primavera Capital plc, shall advance 
£125,000 of loan capital on the same terms as IP2IPO Limited ("IP2IPO"), 
a subsidiary of IP Group plc ("IP Group"). IP2IPO shall provide a like 
amount of loan capital in addition to the loan to the Company announced on 
19 February 2008.
 
Related Party Transaction
IP Group is the parent company of Techtran Limited and of the IP Venture 
Fund, which collectively control approximately 30.21per cent of the issued 
ordinary share capital of green chemicals plc as at 30 June 2008; the 
£125,000 loan from IP2IPO is therefore a related party transaction within 
the meaning of the PLUS Rules. The terms of the loan are confidential; 
the independent directors and the Company's advisers consider that the 
terms are fair and commercial having regard to the surrounding circumstances 
and that they do not disadvantage the Company relative to the probable cost 
of any alternative sources of loan capital presently available.
Stephen Winston, Chief Executive, observed, "The independent directors 
echo the Chairman's sentiments in relation to Martin Penny's investment in 
the Company and are also pleased that an equal amount of new loan capital 
has been made available simultaneously by two important and supportive 
shareholders, thereby further underlining their financial commitments to 
green chemicals plc's business plan."
 
The Company's ordinary share capital as enlarged by the allotment of the 
64,935 new Shares as described above will be £401,338 or 8,026,752 Shares.
 - Ends -
 
 David Norwood Clemmie Carr Graham Atthill-Beck
 Stephen Winston Simon Hudson
 green chemicals plc Tavistock Communications Hichens Harrison & Co. plc
 Tel: +44 113 3432924 Tel: +44 20 7920 3150 Tel: +971 50 856 9408 or 
 +971 4 343 1330
 

< back to latest news