Environmental Clean Technologies Ltd (ASX:ESI) (ECT or Company) is pleased to provide the following update on its integrated Indian demonstration project.
Following on from a previous status update (ASX, 17 October 2017), and subsequent clarifications made on the Company’s website (http://ectltd.com.au/clarification-india-project-review-process/), NLC India Limited (NLC) have advised ECT that the appointment of the consultant to perform the independent, external financial review has now been finalised, and the work program has commenced.
Overview of Activities
As outlined in the tender document prepared by NLC, the scope of the financial review has been approved and the timeframe for deliverables set out as below:
Submission of draft report by 21st of November 2017
Presentation to NLC & NMDC by 5th of December 2017
Final report by 19th of December 2017
ECT’s formal role in the process includes engagement under Non-Disclosure Agreement (NDA) in support of the provision of all required background information and administration of the data room.
Chairman & Managing Director (CMD) of ECT India, Mr Ashley Moore, stated, “ECT personnel will be actively involved in supporting this program and I look forward to providing an update on this process at this year’s AGM (22 November 2017)”
The Company will provide further updates as progress is made and as required to ensure compliance with continuous disclosure obligations.
For further information, contact:
Glenn Fozard – Chairman [email protected]