Newry Biomass Limited authorised to issue shares
Newry Biomass Limited, a joint venture with renewable energy group Kedco and Farmer Business Developments, has this week received assurances from HM Revenue and Customs, which authorises the company to issue shares under the Enterprise Investment Scheme. The Enterprise Investment Scheme offers tax relief incentives to investors who purchase new shares in participating companies.
Gerry Madden, Kedco chief executive said, “The Enterprise Investment Scheme is becoming an increasing part of the UK Coalition Government’s ‘growth agenda’, a key economic policy. This provisional assurance for Kedco’s biomass plant is in our view a perfect fit between this growth agenda and the UK Government’s stated commitment to supporting renewables in the long term.”
Newry Biomass Limited received authorisation following the receipt of a properly completed Enterprise Investment Scheme Compliance Statement. The share price is 1.45 pence.
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