Debt conversion and Director's interests

RNS Number : 0925C

Eden Research plc

26 April 2012

 



GB0001646941/GBP/PLUS-exn

EDEN RESEARCH PLC

("Eden" or the "Company")

Conversion of all Outstanding Loans, Issue of Equity and Directors' Interests

Eden Research plc, the agrochemical and encapsulation development company, announces that yesterday, it converted GBP 1,601,717 of loans, (being all of the loans of the Company at the date of this announcement), together with accrued interest and finance charges relating to the loans and amounting to GBP 589,163, into 10,954,401 ordinary shares in the Company.

The Company also issued 786,164 ordinary shares in the Company yesterday to University of Massachusetts Medical School, USA in accordance with the Global Licence agreement announced on 27 October 2011.

Following this loan conversion and the issue of equity, Eden has 111,044,161 ordinary shares in issue.  The new ordinary shares, totaling 11,740,565, will be admitted to trading on PLUS Markets.

The Directors are interested in a total of 2,290,782 ordinary shares, representing 2.06% per cent of the Company's enlarged issued share capital, as follows:

Director	No. of shares held	% of enlarged share capital
A Abrey	155,940	0.14
K Brooks	1,486,566	1.34
B Gill	469,181	0.42
C Newitt	179,095	0.16

The Directors of Eden are responsible for the contents of this announcement.

Eden Research plc	www.edenresearch.com
Clive Newitt, Managing Director	Tel: [phone]
Alex Abrey, Chief Financial Officer
Zeus Capital Limited	Tel: [phone]
Ross Andrews, Andrew Jones, Brian Stockbridge
Walbrook PR Ltd	Tel: [phone]
Paul McManus (Media Relations)	Mob: [phone] or [e-mail]
Paul Cornelius (Investor Relations)	Mob: [phone] or [e-mail]

Notes:

Eden has developed a terpene-based encapsulation technology which uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses.

Terpenes are natural compounds which function as defence mechanisms in many plant groups and are released in response to infection, attack by pests, stress or mechanical injury. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

The next-generation encapsulation technology, licensed from University of Massachusetts Medical School ("UMMS") recently, provides significant additional benefits to the original system as it allows release to be controlled by environmental factors rather than relying solely upon the chemistry of the substances used. This means that there is more control over the timing of the release of the active compound being carried allowing for further reduction in chemicals applied whilst ensuring maximum effectiveness.

The UMMS license also significantly expands the potential use of the Eden technology in non-agricultural applications such as health and beauty, cosmetics and animal health.

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

 

END

 

 

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