com:20081117:RnsQ2511I
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RNS Number : 2511I  
  
Voller Energy Group PLC  
  
17 November 2008  
  
Voller Energy Group Plc   
  
("Voller" or the "Company")  
  
Strategic Review  
  
Following the strategic review announced in February of this year Voller has now 
explored all routes available to it with regard to obtaining the additional 
funding necessary to exploit the market for its Emerald range of fuel cells. The 
Emerald fuel cell has been shipped to initial customers, its performance makes 
it suitable for a number of applications, and the Board believes that given 
access to suitable funding this ground breaking technology could be the focus of 
a successful business model whilst also making a contribution to the easing of 
the pressures on global warming caused by the burning of fossil fuels.  
  
Unfortunately, no new funding has been found and, whilst the Board continues to 
have discussions with interested parties ,which may or may not lead to the 
provision of a solution to the funding issues, the Board have reluctantly 
concluded that although the Company has achieved the creation of a marketable 
product, not all of the original strategic objectives of designing, developing, 
manufacturing and marketing fuel cell systems can be achieved. The Board is 
therefore of the opinion that it should take steps to wind down the business, 
and in due course to cease trading.    
  
The Board has resolved that, subject to Court and shareholder approval cash 
should be returned to shareholders by way of dividend. The Company intends 
thereafter to remain traded on AIM as a cash shell. The Company will have no 
trading business and therefore under the AIM rules it must seek the consent of 
shareholders for an investing strategy.  
  
A circular detailing the proposed dividend, the Company's investing strategy and 
the calling of a General Meeting will be sent to shareholders shortly.  
  
For further information please contact:  
  
Robin Francis, Chief Executive        
  
Voller Energy Group Plc          Tel: +44 (0) 1256 813 900  
  
John Depasquale/Richard Feigen  
  
Seymour Pierce        Tel +44 (0) 207 107 8000  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
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