Symphony Environmental Tech. PLC Exercise of Warrants and Director Dealing (7471O)
May 21 2018 - 8:02AM
UK Regulatory
TIDMSYM
RNS Number : 7471O
Symphony Environmental Tech. PLC
21 May 2018
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain
21 May 2018
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
Exercise of Warrants and Director Dealing
Symphony Environmental Technologies Plc ("Symphony" or
"Company") announces that the Company has received notice to
exercise warrants representing 2,200,000 new ordinary shares of 1p
each in the Company ("Warrant Shares") by Somerston Environmental
Technologies Limited ("Somerston"). The warrants were granted on 9
June 2015.
The Warrant Shares (which will rank pari passu with the
Company's existing Ordinary Shares in issue) will be issued and
allotted ("Allotment") on or around 29 May 2018. Upon Allotment,
Symphony will receive GBP330,000 cash proceeds. Application will
then be made for the Warrant Shares to be admitted to trading on
AIM ("Admission") which is expected to take place at 8.00 a.m. on 4
June 2018.
Following Admission, the enlarged issued share capital of the
Company will be 154,344,377 Ordinary Shares. The above figure may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the Disclosure and Transparency Rules.
Following Allotment, Somerston will be interested in 33,710,000
Ordinary Shares representing approximately 21.8% of the enlarged
issued share capital of the Company.
Mr Shaun Robinson, a non-executive director of Symphony, has a
15.3% interest in Somerston and his beneficial interests in the
Company following Allotment will increase by 337,333 Ordinary
Shares to 11,513,546 Ordinary Shares representing approximately
7.5% of the enlarged issued share capital of the Company.
Enquiries
Symphony Environmental Technologies
Plc
Michael Laurier, CEO Tel: +44 (0)
20 8207 5900
Ian Bristow, CFO
www.symphonyenvironmental.com
Cantor Fitzgerald Europe
David Foreman/Richard Salmond Tel: +44 (0)
(Corporate Finance) 20 7894 7000
Alex Pollen (Sales)
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
Symphony has developed and continues to develop, controlled-life
plastic technology which helps tackle the problem of microplastics
by turning ordinary plastic at the end of its service-life into
biodegradable materials. It is then no longer a plastic and can be
bioassimilated in the open environment in the same way as a leaf.
The technology is branded d(2) w(R) and appears as a droplet logo
on many thousands of tonnes of plastic packaging and other plastic
products around the world. In some countries, most recently Saudi
Arabia, oxo-biodegradable plastic is mandatory.
To view a short BBC World Service film introducing d2w
oxo-biodegradable (controlled-life) plastic technology please click
on one of the following links:
From within the UK-
http://www.symphonyenvironmental.com/d2w/d2w-brochure-5/
From outside of the UK -
http://www.bbc.com/storyworks/the-british-bid/symphony
In addition, Symphony has developed a range of additives,
concentrates and master-batches marketed under its d2p(R) brand,
which can be incorporated in a wide variety of plastic and
non-plastic products so as to give them protection against many
different types of bacteria, fungi, algae, and insects, and against
fire. d2p products also include odour, moisture and ethylene
adsorbers as well as other types of food-preserving technologies.
We have also launched d2p anti-microbial household gloves and are
developing a range of other d2p finished products for retail
sale.
Symphony has also developed the d(2) Detector(R), a portable
device which analyses plastics and detects counterfeit products.
This is useful to government officials tasked with enforcing
legislation, and Symphony's d(2) t tagging and tracer technology is
available for further security.
Symphony has a diverse and growing customer-base and has
established itself as an international business with 74
distributors around the world. Products made with Symphony's
plastic technologies are now available in nearly 100 countries and
in many different product applications. Symphony itself is
accredited to ISO9001 and ISO14001.
Symphony is a member of The Oxo-biodegradable Plastics
Association (www.biodeg.org) (OPA), the Society for the Chemical
Industry (UK), and the Pacific Basin Environmental Council.
Symphony is also a strategic partner of the Commonwealth business
initiative, and actively participates in the Committee work of the
British Standards Institute (BSI), the American Standards
Organisation (ASTM), the European Standards Organisation (CEN), and
the International Standards Organisation (ISO).
Further information on the Symphony Group can be found at
www.symphonyenvironmental.com and twitter @SymphonyEnv
See also Symphony on Instagram A Symphony App is available for downloading to smartphones.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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