SOURCE: EuroTrust A/S

December 20, 2006 10:30 ET

EuroTrust Secures Additional Financing for Ongoing Development of Business

KOLDING, DENMARK -- (MARKET WIRE) -- December 20, 2006 -- EuroTrust A/S (NASDAQ: EURO) today announced that it has privately placed 3,600,000 newly issued ordinary shares for (U.S.) $52.2 million ($14.50 per share), with two UK institutional investors, Invesco Perpetual and BlueCrest Capital Management. As a result of the placement, Invesco Perpetual and Blue Crest hold a 15.2% and 1.6% shareholder stake in EuroTrust respectively. EuroTrust A/S was advised by West Hill Corporate Finance Limited in London.

The proceeds of the placement will be utilized partly to bridge finance the equity component of 4 new wind farm projects, which were announced earlier today. It is anticipated that the debt financing of these new projects will be secured through a leading international bank. The balance of the proceeds will be used to finance the rapid growth in other wind farm and real estate development projects.

Bo Kristensen, CEO of EuroTrust, said, "We are very delighted to receive strong support from Invesco Perpetual and BlueCrest in effecting the share placement. Having two of the largest funds in the UK on board as shareholders further strengthens our resolve to realize our business strategy to acquire a substantial portion of the rapidly growing renewable energy market. The funds raised in this placement provide a strong platform for the Company to continue to develop its portfolio of wind farms."

About EuroTrust A/S:

EuroTrust (NASDAQ: EURO) owns European property and property development businesses and wind energy farms. More information about EuroTrust and its subsidiaries is available at

Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause EuroTrust's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others: (a) economic and other factors that could affect the development and sales of properties such as (i) a downturn in the housing market in Denmark or Norway, (ii) delays in obtaining necessary governmental permits and approvals, and (iii) delays in the construction of housing units; (b) factors that could impact the development and sale of wind energy such as (i) the availability of wind energy turbines for the development of new wind farms, (ii) the market price of electricity, and (iii) the amount of wind in any year; (c) the potential unforeseen impact of offerings from competitors; (d) our ability to raise additional capital to finance our growth aspirations; (e) our ability to control costs and expenses; and (f) general economic, political and labor conditions. More information about potential factors that could affect the company's business and financial results is included in EuroTrust's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 20-F for the year ended December 31, 2005 and quarterly reports on Form 6-K. EuroTrust undertakes no obligation to update any of the forward-looking statements after the date of this press release.

Contact Information

  • EuroTrust Contact:
    Bo Kristensen
    CEO EuroTrust
    +45 7550 2475
    Email Contact