Biofutures International plc Temporary Suspension (1500T)

TIDMBIP

RNS Number : 1500T

Biofutures International plc

10 December 2012

Biofutures International Plc

("Biofutures" or the "Company")

Proposed Acquisition of Platinum Nanochem Sdn. Bhd.

Suspension of Trading on AIM

The board of directors of Biofutures ("Board") is pleased to announce that it has entered into a conditional share sale agreement ("Agreement") to acquire Platinum Nanochem Sdn. Bhd. ("Platinum") (the "Acquisition"). Platinum is a Malaysian based company, which utilizes nanotechnology for the production of speciality chemicals and materials from renewable sources.

The two technologies held by Platinum are the SimPlat(TM) technology and the Catalyx(TM) technology. The SimPlat(TM) technology enables the production of a wide variety of intermediate and specialty chemicals from liquid waste and process residue materials. The Catalyx(TM) technology enables the production of graphitic nanomaterials. These include graphene nanoplatelets, a performance enabling nanomaterial, which is known for being exceptionally lightweight. The graphene nanoplatelets possess a wide range of intrinsic properties, from enhanced electrical and thermal conductivity to exceptional mechanical load bearing capacity and performance, that can be transferred into other existing materials creating higher value products possessing significantly enhanced property values.

Platinum is presently generating revenue from its operations, producing green fuel additives for the oil and gas sector which is set for capacity expansion. Platinum is currently focused on (1) expanding into the oilfield chemicals markets through the production of graphene-enhanced chemicals; and (2) developing alternative applications of graphene through strategic partnerships.

The Board believes that the Acquisition offers a way forward for the Company to leverage on its existing assets to revitalize the current position of the Company and enhance shareholders' value.

The Acquisition will constitute a reverse takeover under AIM Rule 14 and hence is conditional upon the publication of an admission document and the approval of Biofutures' shareholders at a general meeting. Biofutures expects to convene the general meeting and complete the transaction before the end of first quarter of 2013. Accordingly, trading in the Company's shares will be temporarily suspended until such time as it publishes an admission document for the enlarged group.

For further information, please contact:

 
 Biofutures International plc        Tel: + 603 6203 5136 
 Joe Wong, Chief Executive Officer 
 www.biofuturesplc.com 
 
 Daniel Stewart & Company plc        Tel: + 44 (0) 20 7776 6550 
 Antony Legge / Emma Earl 
 www.danielstewart.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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