FNT Fountains

 

TIDMFNT 
 
RNS Number : 1403V 
fountains PLC 
06 July 2009 
 

+-----------------------------------+------------------------------------+ 
| Press Release                     |                        6 July 2009 | 
+-----------------------------------+------------------------------------+ 
 
 
 
 
Fountains plc 
 
 
("Fountains" or "the Company") 
 
 
EDF Energy Networks Limited 
 
 
Fountains (AIM:FNT), the environmental support services company, announces that 
it has concluded its long-term discussions with EDF Energy Networks Limited 
("EDF"). The Company has been awarded a contract for the management of 
vegetation in the vicinity of overhead electric lines and electrical plants in 
the areas of Cambridgeshire, Essex and the Northern Home Counties. Under the 
terms of the contract, EDF guarantee to undertake a minimum vegetation 
management spend of GBP6.0m in the first 12 months and is ultimately expected to 
provide revenue of approximately GBP9.0 million per annum based on year one 
spending levels. The contract is anticipated to cover a six year period with two 
optional three year extensions. EDF has the right to reduce it's contracted 
minimum annual spend by up to GBP2.0m per annum following the first 12 months 
before incurring demobilisation costs. 
 
 
This is the second large scale contract that the Company has successfully 
tendered for in 2009, along with British Waterways which was announced in 
February. 
 
 
Commenting on the announcement Richard Haddon, Chief Executive Officer of 
Fountains, said "It is very pleasing to be in a position to announce this 
contract following many months of negotiation. Winning long term contracts such 
as this has been part of our strategic approach since 2006. We have been 
actively working with EDF under an interim arrangement for the last three months 
and I am delighted that we can now fully mobilise." 
- Ends - 
 
 
For further information: 
+-----------------------------------------------+------------------------+ 
| Fountains plc                                 |                        | 
+-----------------------------------------------+------------------------+ 
| Richard Haddon, Chief Executive               | Tel: + 44 (0) 1295 750 | 
|                                               |                    000 | 
+-----------------------------------------------+------------------------+ 
| richard.haddon@fountainsplc.com               |   www.fountainsplc.com | 
+-----------------------------------------------+------------------------+ 
| Nomad: Collins Stewart                        |                        | 
+-----------------------------------------------+------------------------+ 
| Mark Dickenson / Stewart Wallace              |  Tel: + 44 (0) 20 7523 | 
|                                               |                   8350 | 
+-----------------------------------------------+------------------------+ 
 
 
Media enquiries: 
+-----------------------------------------------+------------------------+ 
| Abchurch                                      |                        | 
+-----------------------------------------------+------------------------+ 
| Charlie Jack / Stephanie Cuthbert             |   Tel: +44 (0) 20 7398 | 
|                                               |                   7718 | 
+-----------------------------------------------+------------------------+ 
| charlie.jack@abchurch-group.com               | www.abchurch-group.com | 
+-----------------------------------------------+------------------------+ 
 
 
+-----------------------------------------------+------------------------+ 
| EDF Energy Limited                            |                        | 
+-----------------------------------------------+------------------------+ 
| Andrew Brown, Director of Corporate           |   Tel: +44 (0) 20 7752 | 
| Communications                                |                   2268 | 
+-----------------------------------------------+------------------------+ 
 
 
Notes to editors 
 
 
Fountains plc is a leading environmental support services provider. The Company 
delivers a diverse range of integrated managed services for its broad network of 
clients, in the UK and the US, which include local authorities, rail networks, 
energy providers, national parks and corporate and family landowners. In 
addition to its traditional service, Fountains has developed sophisticated 
geospatial technology software that creates high quality maps to predict future 
vegetation growth, enabling Companies to proactively plan. 
 
 
Headquartered in Banbury, fountains was established as a forestry management 
operation in 1957. The Company listed on the AIM market in 1995 and has since 
developed into an extensive environmental support service company. Today the 
Company employs 800 staff.  For further information visit www.fountainsplc.com 
 
 
 
 
EDF Energy is one of the UK's largest energy companies which provides power to a 
quarter of the UK's population via its electricity distribution networks in 
London, the South East and the East of England.  EDF Energy supply gas and 
electricity to over 5 million customers and generates about 5GW of energy from 
its coal and gas power stations, as well as combined heat and power plants and 
wind farms. 
 
 
EDF Energy employs nearly 13,000 people at locations across the UK and is a core 
part of EDF Group, one of Europe's largest power companies.  For further 
information visit www.edfenergy.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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