Business
MOU with E.ON
MOU with E.ON.
About this update from Mindflair Plc
[{"type":"text","content":"\n \n6 July 2006\n\n Oak Holdings plc \n\n Memorandum of Understanding signed with E.ON \n\nOak Holdings plc (`Oak' or `the Company'), the AIM listed property development\nand consultancy group, has signed a Memorandum of Understanding (`MOU') with\nE.ON, the world's largest investor-owned power and gas company, to collaborate\non the development of the South Yorkshire leisure and entertainment scheme\nknown as the YES! project.\n\nUnder the agreement, both companies will initially work together to provide\nresource and support for the next stage of the YES! Project, with a view to\ndeveloping sustainable solutions to the scheme's power, cooling and heating\nneeds designed to be more environmentally friendly and to enhance the\neducational side of the visitor experience.\n\nThe YES! Project, on the Pithouse West site adjacent to Rother Valley Park,\nreceived Resolution to Grant Consent by Rotherham Metropolitan Borough Council\non 11 May and is currently with the Government Office for determination of the\nPlanning Application. The scheme represents an inward investment of up to £300\nmillion and will provide in excess of 2,700 jobs in this important area of\nSouth Yorkshire which has suffered from considerable job losses. The scheme\naims to be the largest undercover leisure project in Europe and the MOU with\nE.ON marks a further significant step forward.\n\nStephen Lewis, Chief Executive said: \"The recognition by E.ON of the strategic\nnature of this project is the latest endorsement for the vision and belief that\nboth Oak and Rotherham Metropolitan Borough Council have in this scheme. We are\nprivileged to have secured an MOU with one of the largest, most innovative and\nmost respected organisations in energy supply. The MOU is wide ranging and\nallows Oak to draw upon the very best knowledge available in sustainability and\nenergy conservation. It also signifies the growing importance of YES! and how\nattractive YES! is to major international and national partners.\"\n\n * * ENDS * * \n\nContacts\n\nSteve Lewis, CEO Oak Holdings plc Tel: 020 7493 5522\n\nIsabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477\n\nNotes for editors:\n\n * AIM-listed Oak Holdings plc is a development company and property\n consultancy.\n \n * Its strategic focus has been on developing mixed-use, leisure-oriented\n projects in a...