LBN has a large holding in Energy Technique Plc see below. Also have a look at the recent announcements from LBN, they seems to be moving in the right direction at last.


In accordance with the Companys enhancement policy, London & Boston organised a consortium (including Harrell, the Chairman of Rotch, a company connected with the family of Geoffrey Dart and London & Boston) to invest 1.1m for 50.2% of Energy Technique, which has a full listing on the London Stock Exchange. The investment was completed on 15 June 2001. At that time London & Boston invested 230,354 in cash and 182,000 by the issue to Energy Technique of 1,820,000 Existing Ordinary Shares of 2p each in London & Boston at 10p each in exchange for the issue to London & Boston of ordinary shares in Energy Technique representing approximately 18.81% of Energy Techniques share capital plus options over a further 4% of this company exercisable within 5 years. Geoffrey Dart resigned as chairman of the company and Graham Mackenzie was appointed. Stephen Komly remains the senior non-executive director.

First established in 1879, Energy Technique specialises in the design, manufacture and distribution of high quality air conditioning and heating products. With an impressive customer list, including the Houses of Parliament, Nat West, HSBC and Barclays Banks, Marks & Spencer, Land Securities and Hilton hotels, The Savoy and Claridges hotels. The company has developed a high tech, energy saving, air conditioning system called the Ambassador System for commercial and hotel use. The consortium has brought and will continue to bring new introductions and business opportunities to expand Energy Techniques core Diffusion business.

The company has caused considerable excitement due to its innovative development of a system which removes all known airborne pathogens. The Company won the Fastest Moving Share Award for 2002 rising to 30p per share at one point from the 3p at which London & Boston arranged the re-financing of the company in June 2001

LBN has a 9.10 per cent holding in ETQ and also holds warrants over 4% of the enlarged company. See www.london-boston.com. for further details.