Re-admission to trading on PLUS


 
TIDMCO2P 
 
25 February 2009 
 
CarbonDesk Group Plc ('CarbonDesk' or 'the Company') 
 
Admission to trading on PLUS 
 
Business Activities 
 
CarbonDesk has established itself as an independent carbon credit broker and 
provides related advice to developers of projects with the potential to 
generate carbon credits. 
 
CarbonDesk's immediate objective is to build a profitable broking platform with 
revenues generated through broking carbon credits on behalf of clients on both 
the buy-side and the sell-side. CarbonDesk will not hold principal positions in 
the products it is broking. 
 
CarbonDesk also intends, in due course, to offer clients independent research 
on the carbon market. Where appropriate CarbonDesk will look to generate 
revenue from such services; however the Directors may decide to provide 
services as part of client marketing activities where they feel this is 
appropriate. 
 
CarbonDesk will also seek to provide consultancy services to developers of 
renewable energy and emissions-abatement projects in order to assist such 
clients in maximising the quality and quantity of carbon credits generated by 
their projects and liquidating those credits in the most effective way in light 
of their overall strategies. 
 
Financial Position 
 
Awabi Plc, which changed its name to CarbonDesk on 20 February 2009, has been 
an investment company and incurred expenses of GBP21,160 during the six month 
period from 1 May 2008, which date is the Company's year end and increased its 
net liabilities by the same amount. The Company announced its interim results 
for the half year ending on 31 October 2008 on 30 January 2009. Since this date 
there has been a significant fundraising, providing some GBP281,000 of net 
proceeds for working capital and the development of the group. CarbonDesk Ltd, 
a broker trading in carbon emissions which commenced trading in October 2008, 
was acquired on 20 February 2009. 
 
Directors 
 
Peter Holmes (42), Non-Executive Chairman 
 
Mr Holmes has held the following directorships during the past five years: 
 
Current directorships:             Previous directorships: 
 
Albion Stockbrokers Limited        Betachange.com Plc 
 
Apple Corporate Services Limited   Blue Van Limited 
 
Campbells Financials Limited       Burnstop (UK) Limited (dissolved) 
 
Campbells Group Limited            Campbells Estate Agents Limited 
 
Campbells Rentals Limited          Comvurgent Limited 
 
ENH Developments Limited           Elite Strategies plc 
 
Exchange Developments Limited      Envesta Telecom Plc 
 
IMS Maxims Plc                     Enviro-Tech.com Limited 
 
Synigence Plc                      Eros Telecom Limited 
 
T24 Limited                        Griffin Group Plc 
 
                                   Kinetic Kudos Limited 
 
                                   Macherton Limited 
 
                                   Mercury Group Plc 
 
                                   Mercury Property Services Limited 
 
                                   Optimisa Plc 
 
                                   Panda Software (UK) Limited 
 
                                   Shipley James Limited (dissolved) 
 
                                   Software Dialog Limited 
 
                                   Sports-Nav Holdings Plc (dissolved) 
 
Brett Stacey (47), Chief Executive Officer and Head of Trading 
 
Mr Stacey has held the following directorships during the past five years: 
 
Current directorships: 
 
CarbonDesk Limited 
 
Bethlehem Technologies London 
Limited 
 
Bethlehem Technologies (Lesotho) 
Limited 
 
Svelte.im Limited 
 
David Bates (50), Director, Head of Research and Product Development 
 
Mr Bates has held the following directorships during the past five years: 
 
Current directorships:            Previous directorships: 
 
CarbonDesk Limited                Asia Equity Limited 
 
Carbon Trading Limited 
 
Wools (London) Limited 
 
Allen Bates Limited 
 
Oliver Rayner (32), Corporate Development Director 
 
Mr Rayner has held the following directorships during the past five years: 
 
Current directorships:            Previous directorships: 
 
China Factor Ltd                  Merchant Capital plc 
 
DZ Consulting Ltd                 Caliber Partners Ltd 
 
Fenchurch Capital Ltd 
 
Updown Investments LLP 
 
Martin Perrin (54), Non-Executive Finance Director 
 
Mr Perrin has held the following directorships during the past five years: 
 
Current directorships:              Previous directorships: 
 
Salisbury Assets Limited            Advanced Renewable Energy 
                                    Limited 
 
Advance Cornhill Limited            Aeroplatforms plc 
 
Fivar Limited                       Lindstrand AeroPlatforms Limited 
 
Chatsford Corporate Finance Limited Datafreeze Limited 
 
Fiske plc                           Adjacent Technology plc 
 
Muir Finance Company Limited        China Tradepath Limited 
 
Fairfax Perrin Limited              Fenton Equities Limited 
 
Energy Asset Management plc         Zakar Soft Drinks UK Ltd 
 
                                    Lothbury Limited 
 
Significant Risk Factors 
 
Ownership of shares in the Company will involve a variety of risks which, if 
they occur, may have a materially adverse effect on the Company's business or 
financial condition, results or future operations. In such cases, the market 
price of the Ordinary Shares could decline and an investor might lose all or 
part of his or her investment. Shareholders and investors should be aware of 
the risks associated with an investment in a business in the early stages of 
development. Fuller details of these risks were given in the Awabi Plc's 
announcement made on 29 January 2009 
 
Securities being admitted 
 
The Company has issued 1,055,594 new ordinary shares, ranking pari passu with 
existing ordinary shares, as initial consideration for the acquisition of 
CarbonDesk Limited, 2,256,660 new ordinary shares upon conversion of loan notes 
and 2,175,000 new ordinary shares for cash, in each case at a price of 10p per 
share. Significant shareholders are listed below: 
 
Name                          Number of Ordinary       % of Enlarged 
                                          Shares        Issued Share 
                                                             Capital 
 
Brett Stacey                           1,205,594                17.1 
 
Peter Holmes                             550,020                 7.8 
 
David Tucker                             500,000                 7.1 
 
John Tucker                              500,000                 7.1 
 
Jacqui Winterflood                       500,000                 7.1 
 
Jorge Gracia                             350,000                 5.0 
 
Tarek El Babir                           300,000                 4.3 
 
Matt Brownie                             250,000                 3.6 
 
Jeremy Friedlander                       250,000                 3.6 
 
Luwan Scorer                             250,000                 3.6 
 
Peter Edwards                            250,000                 3.6 
 
Daniel Edelman                           237,500                 3.4 
 
Warrants 
 
As announced on 29 January 2009, the Company has issued warrants in respect of 
new ordinary shares issued for cash and upon conversion of loan notes on the 
basis of one warrant per four new ordinary shares. In addition the Company has 
issued warrants to certain advisers as set out in the announcement. Warrants 
are exercisable at 10 pence per share at any time during a three year period 
from admission of the shares to PLUS markets. 
 
Admission 
 
Awabi Plc requested its shares be re-admitted to trading today, following the 
acquisition of CarbonDesk Ltd, the placing of shares and conversion of loan 
notes as outlined above. 
 
Enquiries: 
 
CarbonDesk Group plc 
 
Peter Holmes 07786 264 265 
 
Martin Perrin 07785 505 337 
 
Merchant Capital Limited (PLUS Corporate Adviser) 
 
Peter Redmond 020 7332 2200 
 
The Directors of the Company accept responsibility for this announcement. 
 
 
 
END
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