HDD Hardide Plc

RNS Number:6324D
Proventec PLC
26 May 2006


Press Release                                                        26 May 2006


                                 Proventec Plc

                         ("Proventec" or "the Company")

                         Reduction of holding in Hardide


Proventec Plc (AIM:PROV), a provider of specialist steam cleaning and coatings
technologies, today announces that it raised #1.0 million (after expenses) by
the sale of 8,598,350 ordinary shares at 12.5 pence per share in Hardide plc 
("Hardide") via an institutional placing to investors. The original holding of
29.9% in Hardide was held through Proventec's subsidiary, Flintstone Management
Services Limited ("FMS").  Post the placing, FMS retains 31,499,725 ordinary
shares in Hardide which equates to 21.5% of the increased share capital of the
company. FMS has undertaken not to dispose of any further ordinary shares in
Hardide, without the permission of Hardide's broker, Daniel Stewart & Co plc,
before 30 November 2006.

AIM-listed Hardide provides and applies tungsten carbide coatings to a wide
range of engineering components.  The Company's patented technology is unique in
that it combines both abrasion and corrosion resistant properties in one
coating. When applied to components, the technology is proven to offer dramatic
cost savings through reduced downtime and extended component life. Customers
include leading companies operating in oil and gas exploration and production,
valve and pumps manufacturing and general engineering.

David Chestnutt, Chief Executive of Proventec, said: "Through our FMS subsidiary
we have been long term original holders in Hardide and have been financially
supportive through the company's corporate development. The reduction of our
holding makes strategic sense for both parties, allowing Proventec to realise a
net profit of #580,000 for our shareholders whilst at the same time allowing
Hardide to diversify its current shareholder base with a number of additional
institutional holders.

"As part of the Company's stated strategy, the proceeds of this sale will be
used to develop Proventec's core businesses in hygienic solutions and
preventative coatings."

                                    - Ends -

For further information, please contact:
 Proventec Plc
 David Chestnutt, Chief Executive                     Tel: + 44 (0) 151 706 0626
 dchestnutt@proventecplc.com                                www.proventecplc.com


 Collins Stewart Limited
 Andrew Smith / Martin Eales, Corporate Finance       Tel: + 44 (0) 20 7523 8350
 meales@collins-stewart.com                                       www.cstplc.com


Media enquiries:
 Abchurch
 Henry Harrison-Topham                                 Tel: +44 (0) 20 7398 7700
 henry.ht@abchurch-group.com                              www.abchurch-group.com


Notes to editors

Proventec is a specialist and innovative provider of steam cleaning and coatings
technologies.  The Company was formed as a result of the reverse takeover of
InnoCleaning Magma Holdings BV and OspreyDeepClean Limited, a group of fire
retardant coatings and specialist steam cleaning businesses, by Flintstone
Technologies plc in August 2005.

Proventec provides solutions to a number of markets including the food retail
and preparation market, hospitality industries, and healthcare which includes
hospitals and suppliers of hospital equipment, transport infrastructure,
construction materials and consumer products.  The cleanings solutions are
designed to target and combat the spread of common food bacteria and HAI
(Hospital Acquired Infections), including MRSA.  The coating businesses have an
emphasis on preventative environmentally friendly solutions for its clients
delivering demonstrable health and/or cost benefits.

Proventec also provides coatings solutions such as fire retardants,
anti-abrasion and corrosion materials for industrial use.  In addition to
developing the technology and supplying the products, Proventec also provides
training support and financing options to its customers.

Through its subsidiary, Flintstone Management Services Limited, Proventec has
investments in the following companies: Biocote Limited, Firestop Chemicals
Limited, Hardide plc, Oxis Energy Limited and the Ultra Motor Company Limited.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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