React Energy (REAC)

 

REAC's update

REACT Energy noted a report to Derbyshire County Council's planning committee has recommended permission be granted to an energy recovery facility at Clay Cross by the company's subsidiary, Clay Cross Biomass.

The company says that while the report by the strategic director - economy, transport and communities - recommends that permission is granted, there is no guarantee that the committee will adopt this recommendation. Further, in the event that the recommendation is adopted by the committee, there are a number of conditions precedent to the development of Clay Cross, including the raising of the necessary finance by the company to fund development.

The decision to grant the planning permission or not, subject to the fulfilment of the conditions set out in the report, is expected to be decided by the Committee at its meeting on 11 April.

At 2:14pm: (LON:REAC) React Energy Plc Ord Eur0.1 share price was +2.5p at 7.25p