NTR plc Announces Sale of 3.5 Million Shares of Green Plains Stock
Sale reflects NTR’s strategy to rebalance its portfolio of renewable energy investments
September 12 2011
Dublin, 12th September 2011: NTR plc, a leading investor in renewable energy and sustainable waste management businesses, today announces that it has agreed to the sale of 3.5 million Green Plains shares back to the company at a price of $8.00 per share. Green Plains will pay 50% of the repurchase amount to NTR this week, with the balance due within 90 days. Prior to this transaction, NTR held approximately 11.2 million shares, or 30.8%, of Green Plains’ outstanding shares.
“The sale of approximately one-third of our investment in Green Plains is part of a rebalancing of our portfolio of renewable energy investments,” said Neil Parkinson, Chief Financial Officer of NTR. “Green Plains continues to be a strategic holding for us and we look forward to sharing in its continued success.”
“We believe this transaction demonstrates our confidence in the business we have built and our strategy going forward," said Todd Becker, President and Chief Executive Officer of Green Plains. “The repurchase of our common stock at this price is an accretive transaction that creates value for our shareholders.”
“NTR is a long-term, valued investor in our company. We are pleased that they are committed to our growth strategy and will continue to be our single largest shareholder,” added Becker.
Ends
Notes to Editors
About NTR plc
NTR plc is a leading investor in renewable energy and sustainable waste management businesses. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy and sustainable waste management businesses in the USA and Ireland. www.ntrplc.com
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) is North America’s fourth largest ethanol producer. The Company markets and distributes approximately one billion gallons of renewable motor fuel on an annual basis, including 740 million gallons of expected production from the Company’s nine ethanol plants located throughout the U.S. Green Plains owns and operates grain handling and storage assets and provides complementary agronomy services to local grain producers through its agribusiness segment. Green Plains owns Blendstar LLC, a biofuels terminal operator with locations in the southern U.S. Additionally, Green Plains is a joint venture partner in BioProcess Algae LLC, which was formed to commercialize advanced photo-bioreactor technologies for the growing and harvesting of algal biomass. www.gpreinc.com
Issued on behalf of NTR plc by:
Heneghan PR, Nigel Heneghan / Rachel Watchorn
Tel: + 353 1 660 7395 / Email: nigel@hpr.ie / rachel@hpr.ie