Symphony Environmental Tech. PLC EU court hearing
March 21 2023 - 3:00AM
RNS Non-Regulatory
TIDMSYM
Symphony Environmental Tech. PLC
21 March 2023
This is a Reach announcement and the information contained is
not considered to be material or to have a significant impact on
management's expectations of the Company's performance. Reach is an
investor communication service aimed at assisting listed and
unlisted (including AIM quoted) companies to distribute
non-regulatory news releases into the public domain. Information
required to be notified under the AIM Rules for Companies, Market
Abuse Regulation or other regulation would be disseminated as an
RNS regulatory announcement and not on Reach.
21 March 2023
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony," the "Company" or the "Group")
EU Court Hearing
The case brought by Symphony Environmental Technologies Plc
against the Commission, Parliament, and Council of the European
Union was heard on 20 March 2023 in the General Court of the EU in
Luxembourg. Symphony's case is that Art. 5 of the Single-use
plastics Directive 2019/904 is unlawful and is claiming for losses
and reputational damage.
Symphony is represented by Josh Holmes KC and Jack Williams,
Barristers from Monckton Chambers, the leading specialists in EU
law.
Symphony does not accept that Article 5 applies to its
technology, but the confusion caused worldwide by the wording of
the legislation is obstructing the adoption of the technology. For
every day it remains in force Symphony suffers loss, but more
important, ordinary plastic continues to be used, and thousands of
tons of it are getting into the open environment, where it will
persist for 50 years or more.
The Court hearing was heard by five judges, including the
President of the Court. A written judgment will be delivered in due
course, which the Company's legal advisers estimate could be 12 to
15 months after the hearing, and without prior notice.
Enquiries:
Symphony Environmental Technologies Plc
Michael Laurier, CEO Tel: +44 (0) 20
8207 5900
Ian Bristow, CFO
www.symphonyenvironmental.com
NOTES TO EDITORS:
About Symphony Environmental Technologies Plc
www.symphonyenvironmental.com
d2w- Symphony has developed and continues to develop, a
biodegradable plastic technology which helps tackle the problem of
microplastics by turning ordinary plastic at the end of its
service-life into biodegradable materials.
See
https://www.symphonyenvironmental.com/additives/biodegradable-plastic/
It is then no longer a plastic and can be bioassimilated in the
open environment in a similar way to 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, much of which has been recycled before it degraded. In
some countries in the Middle East this type of biodegradable
plastic is mandatory.
d(2) p- The Group has also developed a range of additives,
concentrates and masterbatches marketed under its d(2) p(R) ( "
designed to protect") trademark, 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, viruses,
fungi, algae, moulds, and insects, and against fire.
d(2) p products also include odour, moisture and ethylene
adsorbers as well as other types of food-preserving technologies.
The Group has also launched d(2) p anti-microbial gloves,
facemasks, and toothbrushes and is developing a range of other d(2)
p finished products for retail sale.
The Group 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 Biodegradable Plastics Association
(BPA) (www.biodeg.org) 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 Group can be found at
www.symphonyenvironmental.com.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. 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.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRABCGDXSXDDGXG
(END) Dow Jones Newswires
March 21, 2023 03:00 ET (07:00 GMT)
Symphony Environmental T... (LSE:SYM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Symphony Environmental T... (LSE:SYM)
Historical Stock Chart
From Apr 2023 to Apr 2024