Group history

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Biofutures was incorporated in February 2006 and was admitted to trading on the AIM market on the London Stock Exchange in May 2006, when it raised £3 million on flotation.

Biofutures made its first investment in November 2006, when it acquired the entire issued share capital of Zurex, a Malaysian company that holds a licence to produce biodiesel derived from palm oil in Malaysia. The consideration was satisfied by the issue of 66.7 million new ordinary shares in Biofutures to the shareholders of Zurex. These new shares represent 45.13 per cent of Biofutures share capital.

At the same time, Biofutures raised £11 million through the issue of 44.2 million new ordinary shares at 25p per share.