Further Update on Industrial Accident (7709H)

TIDMNGR

RNS Number : 7709H

Nature Group PLC

02 June 2011

Nature Group PLC

Further Update on Industrial Accident

Nature Group Plc ("Nature" or the "Group"), the provider of port reception facilities and waste water treatment solutions for the oil, marine and process industries, provides an update on the explosion that occurred on Tuesday afternoon at its waste treatment facility in Gibraltar.

The CEO and Vice-Chairman of Nature, together with directors of Nature Port Reception Facilities Limited ("NPRFL") (Nature's Gibraltar subsidiary), attended the facility yesterday to assess the damage caused by the explosion. Although damage is severe, management notes that the entire site has not been impaired and believes the waste water and bio-treatment facilities are intact and can be fully operational after partial clean-up of the site. Some storage and reception tanks have been damaged, though a full assessment cannot be undertaken at this moment as access to the site is restricted.

The Group's Gibraltar plant is fully insured under standard conditions. It also has a cover for business interruption. NPRFL's insurers have appointed an independent surveyor and a technical forensic team will conduct an investigation as soon as the site is accessible. It is impossible at this stage to ascertain the exact cause of the explosion.

Local management and staff are working hard to resume normal collecting operations within the next few days and putting the bio-treatment facility back into operation as soon as possible. The operation and treatment of third party cargoes however will be affected and Nature does not at this stage know exactly how long it will take for operations to resume with normality. Although full operational capacity is not expected for several months, the directors are preparing contingency plans to enable operations to continue as free from disruption as possible.

Nature's board and local staff express their sincere regret at this severe incident and the inconvenience caused to the general public in Gibraltar, as well as to people on board the passenger vessel, "Independence of the Seas". Nature also expresses its gratitude to the emergency services and all others involved who responded magnificently to the situation.

Nature's thoughts are also with all those injured by the explosion, particularly the employee of its subcontractor, who is still in critical condition in a specialized burns centre in Seville.

Nature and its local management will do their utmost to minimise any environmental damage caused by this accident to the Bay of Gibraltar and surrounding areas and the Group is assisting local authorities wherever possible.

Nature has opened a special section on its newly launched website to give regular updates on the clean-up and rebuilding process as well on any other relevant news with regards to this unfortunate incident at www.nrgp.com.

Further information and updates will hereafter be available on Nature's website or if necessary via RNS release as governed by AIM rules.

For further information please contact:

 
 Nature Group Plc 
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 Richard Eldridge             Chairman              Tel 0044 1841 533611 
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 Andreas Drenthen             CEO                   Tel 0031 181 291144 
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 Peter Snell                  FD                    Tel 0044 7000 892481 
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 Northland Capital Partners   (Nominated Adviser) 
---------------------------  --------------------  --------------------- 
 Shane Gallwey                                      Tel 0044 2077 968823 
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 Rod Venables                                       Tel 0044 2077 968827 
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 WH Ireland                   (Broker) 
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 Sebastian Wykeham                                  Tel 0044 2072 200473 
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 Ruari McGirr                                       Tel 0044 2072 201666 
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 Hermes Financial PR 
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 Chris Steele                                       Tel 0044 7979 604687 
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 Trevor Phillips                                    Tel 0044 7889 153628 
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This information is provided by RNS

The company news service from the London Stock Exchange

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