The acquisition of One Delta Limited by Cholet Investments will result in a reverse takeover under the AIM Rules. On completion of the acquisition and prior to admission to AIM, Cholet Investments will, subject to shareholder approval, change its name to One Delta plc.

The business of the enlarged group, of which the main country of operation will be Jersey, will be that of One Delta. One Delta was incorporated on 7 October 2008. Its founders, Sean Reel and Phil Dale established the company to address the market demand for flood protection products. Since incorporation One Delta has diversified and is focused on the incorporation of recycled plastic materials into the design and production of a number of innovative products intended to provide effective, cost-efficient and environmentally sustainable solutions across a wide range of sectors.

One Delta is currently engaged in the design, testing and accreditation of products with a view to achieving commercial application in three principal sectors:

defence;

security fencing; and

mobile, off-building flood defence.

Current product pipeline

PXP Security Fence PXP Security Fences offer a new, sustainable product for security, crowd control, property and event management fencing. PXP Security Fences are an environmentally sound, rapid-erect, recycled fencing product that is available for either purchase or lease. The PXP Security Fence has the potential to become a cost effective, replacement for the traditional solutions that use wood, steel or brick structures for major events, commercial and residential markets.

INSTANT Flood Barrier ("IFB") This product is well placed to take advantage of the recent government recommendations that have placed responsibility for flood response onto the UK's local authorities. IFB is a flat packed, rapid-erect, flood defence barrier made from RWP that is easily transported, stored and is reusable. The One Delta Management consider that IFB is a significant advancement on historical fixed defence systems and traditional sandbags.

BROOKS Defence The Brooks Defence solutions offer rapid-erect, lightweight, mobile, anti-ballistic ground force protection systems for use by the military. The concept has been well received by the Ministry of Defence and certain defence companies alike. The technology used in the products is being developed with an anti-ballistic facility and the products are now set for Ministry of Defence testing.

As mentioned above, One Delta uses recycled plastic materials in its design and development process. Specifically each proposed product range incorporates components manufactured from recycled waste products (RWP), utilising a process called Powder Impression Moulding (PIM). The use of RWP provides advantages in terms of the relative ease of securing supplies and the low cost of raw materials.

The One Delta Management recognise the versatility of the RWP component and have identified further commercialisation applications for the technology which, together with the pipeline products referred to above, afford the potential to create additional revenue streams in the future.

Listing exchange: AIM

Expected first day of trading: 2012-01-12

Expected money raised: £275,750