Capital Raising Update

Eden Research plc

29 September 2023

 

29 September 2023

Eden Research plc

("Eden" or "the Company")

Capital Raising Update

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries, provides the following update on its Capital Raising, as originally announced on 28 July 2023.

In that announcement, it was stated that "The Placing of the Conditional Placing Shares is conditional, inter alia, on (i) the approval of the Resolutions at the General Meeting, (ii) the Advanced Assurance being obtained from HMRC, (iii) the Capital Reduction becoming effective and (iv) Second Admission."

The first three conditions have now been met and, as such, the Company expects to complete the Second Admission and Conditional Capital Raising shortly.

For further information contact:

Eden Research plc	www.edenresearch.com
Sean Smith Alex Abrey	01285 359 555
Cavendish Securities Plc (Nominated advisor and broker)
Giles Balleny (corporate finance) Michael Johnson (sales)	020 7397 1961
Hawthorn Advisors (Financial PR)
Simon Woods Felix Meston	[e-mail]

Notes to Editors:

Eden Research is the only UK-listed company focused on biopesticides for sustainable agriculture. It develops and supplies innovative biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries. 

Eden's products are formulated with terpene active ingredients, based on natural plant defence metabolites. To date, they have been primarily used on high-value fruits and vegetables, improving crop yields and marketability, with equal or better performance when compared with conventional pesticides. Eden has two products currently on the market: 

Based on plant-derived active ingredients, Mevalone^® is a foliar biofungicide which initially targets a key disease affecting grapes and other high-value fruit and vegetable crops.  It is a useful tool in crop defence programmes and is aligned with the requirements of integrated pest management programmes. It is approved for sale in a number of key countries whilst Eden and its partners pursue regulatory clearance in new territories thereby growing Eden's addressable market globally.

Cedroz™ is a bionematicide that targets free living nematodes which are parasitic worms that affect a wide range of high-value fruit and vegetable crops globally.  Cedroz is registered for sale on two continents and Eden's commercial collaborator, Eastman Chemical, is pursuing registration and commercialisation of this important new product in numerous countries globally.

Eden's Sustaine^® encapsulation technology is used to harness the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. Sustaine microcapsules are naturally-derived, plastic-free, biodegradable micro-spheres derived from yeast. It is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN. It was awarded the London Stock Exchange Green Economy Mark in January 2021, which recognises London-listed companies that derive over 50% of their total annual revenue from products and services that contribute to the global green economy. Eden derives 100% of its total annual revenues from sustainable products and services. 

For more information about Eden, please visit:  www.edenresearch.com.

Follow Eden on LinkedIn, Twitter and YouTube. 

 

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