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Modern Water, the owner of world-leading technologies for water and wastewater treatment and for water quality monitoring, announces that it intends to restructure its group of companies with the aim of focusing on its innovative membranes process technologies.

The Company is in advanced negotiations to sell the assets of Modern Water Inc., the Company's US-based monitoring division. The boards of Modern Water Services Limited and Cogent Environmental Ltd have decided to appoint liquidators.

In keeping with the new strategy of focusing on its core innovative membrane process technologies, Modern Water has decided to retain control of Surrey Aquatechnology Limited, a subsidiary which holds most of the Group's patents.

Simon Humphrey, Modern Water's CEO, said: "We are working on overcoming our liquidity problems in order to retain a restructured business that can service our customers with world-leading innovative technologies."

A further update will be issued as soon as there are any material developments.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information

Modern Water plc	+44 (0) 1483 696 000
Simon Humphrey, Chief Executive
Cairn Financial Advisers LLP  (Nominated Adviser)	+44 (0) 207 213 0880
Sandy Jamieson / Tony Rawlinson Ludovico Lazzaretti
Turner Pope Investments (Broker)	+44 (0) 20 3621 4120
Andy Thacker

 

Notes to editors

Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The Company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.