JSM Financial: Trading Emissions Plc’s take over of Leaf Clean Energy may be blocked by investors.

Feb. 22, 2010 - PRLog -- JSM Financial has learned that two funds, Scottish Widows Investment Partnership and Moor Capital Investment, who together own over 25% of Trading Emissions Plc, look set to oppose the take over of Leaf Clean Energy.

The vote, scheduled for February 19 requires 75% support from Trading Emissions shareholders. In early November last year Trading Emissions offered to purchase Leaf Clean Energy, in a reverse takeover, to create the largest carbon–reduction firm listed on the London stock exchange, and potentially valued at $367 million.

“I am going to vote against,” JSM Financial believes  Johnny Russell, who oversees the two funds was recently quoted as saying, adding that he felt that the merger was more likely to work better in a few years time when investors could better see the value of Trading Emissions’ carbon credits. Trading Emissions is a London based investor in greenhouse gas reduction projects in developing countries that are able to generate tradable credits under the Kyoto Protocol’s Clean Development Mechanism.


Even after last years dismal result at the Copenhagen Climate Summit firms that create carbon credits are still attracting significant takeover bids. JPMorgan Chase & Co acquired EcoSecurities for $194 million, while Opcon AB recently made an all stock offer for Tricona AB thought to be worth in the region of around $150 million, CIG sources report.

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