are these shares worth buying? they had excellent results with increased profit. will they go up any more?

EK is long!

whoops - lol!

Press Releases

Proposed Restructuring
01 Mar 2011

On 15 February 2011, the Company announced that it had reached a non-binding agreement with its principal Loan Note Holders on the restructuring of its outstanding loan notes by converting them into equity. The Company also announced that a resolution would be put to Ordinary Shareholders to approve (if considered appropriate) the cancellation of the admission and trading of the Ordinary Shares to AIM and re-registration of GTE from a public limited company to a private limited company.

The Board of GTE today announces that it has entered into the Restructuring Agreement with its principal Loan Note Holders, which provides conditional upon, amongst other things, the approval by shareholders of the Resolutions, for the cancellation of the Loan Notes in consideration for the issue of Preference Shares.

Highlights

Cancellation of Loan Notes of approximately US$18,500,000 of principal and accrued but unpaid interest and the issue of up to 18,500,000 Preference Shares of US$1.00 each in the capital of the Company
Restructuring to create a strengthened balance sheet, which the Board believes will enable the Company to continue to explore strategic options including a sale of the Group while continuing to develop its business and operation
Preference Shares to initially have a liquidation preference of US$1.61 (within the first 6 months) payable in priority to any other class of share in the Company on certain exit events
Preference Shares to be convertible into Ordinary Shares at any time applying a conversion price US$0.0966 (which shall reduce every 6 months by US$0.00805 subject to a floor price of the US$ equivalent 0.002 at the time of conversion being the nominal value of the Ordinary Shares)
Holders of Preference Shares to be able to vote each Preference Share on an as converted basis
A circular is being posted to shareholders today setting out, amongst other things, the reasons for the Restructuring and the reasons why the Directors consider this to be in the best interests of the Company, and its stakeholders as a whole, and why they are unanimously recommending that shareholders vote in favour of the resolutions to be proposed at the General Meeting.

Included with the circular will be the Notice of General Meeting to held on 18 March 2011 at 11.00 am at the offices of Bird & Bird LLP, 15 Fetter Lane, London EC4A 1JP. A copy of the circular is available on the Company's website http://www.gtefficiency.com.

For further information:

Gas Turbine Efficiency plc
John Grant (Executive Chairman)
+44 (0)7768 465 042

Steven Zwolinski (Chief Executive Officer)
+46 (0)8546 10 528

Matrix Corporate Capital LLP
Nick Ellis / Stephen Mischler
+44 (0)20 3206 7000

Financial Dynamics
Nina Delangle
+44 (0)20 7269 7181

careful - i phoned gte 0207 831 8113

aware of no reason for the rise and are calling me back - just called me as i typed this!! there is no reason for this rise or no announcement - suggest maket speculation ref de-list and as a relatively low value share movement like this can happen

personally i would exit if able - already have! gla

make of that what you will or phone them yourselves

sorry that is 0207 831 3113

Speculation only. If restucturing goes ahead the Ord will be valued at 0.002. Current price 0.02. If it is not approved then loan is payable and seems the company has no funds to do so. Co expects a FY loss. Personally I will stay away.

ditto that vj - its amazing that some maniacs (imo) are still buying this t you rd in a swimming pool - thats how popular it will be when this ends up near worthless

gl

that you in t you rd did not refer to you by the way - seem more polite than putting the u in! cheers

imo get outta here while you can b4 reality checks in - gla!