Issuing of Annual Report & Notice of AGM

RNS Number : 3482O

Eden Research plc

29 May 2020

 

29 May 2020

Eden Research Plc

("Eden" or "Company")

Issuing of Annual Report & Notice of AGM

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces that its Annual Report and Accounts for the year ended 31 December 2019 and Notice of the Annual General Meeting ("AGM") have been issued to shareholders and are now available on the Company's website:  www.edenresearch.com  

The AGM is to be held on Wednesday 24 June 2020 at 12.00pm at 6 Priory Court, Priory Court Business Park, Poulton, Cirencester, Gloucestershire, GL7 5JB .  Given the COVID-19 restrictions, it is no longer possible to hold the AGM in the way that the Board had planned and therefore regrettably we cannot allow shareholders to attend in person and the Company's Articles of Association do not currently permit hybrid or virtual meetings.

In accordance with current Government regulations in relation to COVID-19, shareholders are encouraged to submit their Form of Proxy in advance of the General Meeting, as to attend the General Meeting in person would, as at the date of this announcement, be inconsistent with the relevant regulations. Shareholders who attempt to attend the General Meeting in person in breach of the stay at home measures will not be admitted. 

Should Shareholders wish to ask any questions in relation to the Resolutions, which they may otherwise have asked at the AGM, had they been in attendance, they are encouraged to contact the Company prior to the AGM by email at [e-mail]   so as to be received no later than 23 June 2020.

For further information contact:

Eden Research plc	www.edenresearch.com
Sean Smith Alex Abrey	01285 359 555
Cenkos Securities (Nominated advisor and broker)
Giles Balleny / Cameron MacRitchie (corporate finance) Michael Johnson (sales)	020 7397 8900
Hawthorn Advisors
Lorna Cobbett Jana Tsiligiannis	020 3745 4960 [e-mail]

Notes:

Eden Research   is an AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries

Eden's Sustaine ä encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can 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 extract. They produce stabilised aqueous suspensions which, are easy to mix and apply, have phased release patterns, are safer for the environment and the crops themselves.

The European Chemicals Agency (ECHA) has proposed an EU-wide restriction on the placing on the market or use of "intentionally-added" microplastic particles. The proposed restriction includes the use of microplastics for agricultural and horticultural purposes, including polymers utilized for controlled-release fertilizers, encapsulated plant protection products (PPPs), seed coatings, and biocides.

By 2025 in the EU, pesticides containing synthetic polymer microplastics are likely to be banned and removed from the market. The only acceptable alternative is the substitution with biodegradable formulations. Reformulated products will need to be evaluated and registered within the five-year transition period.

Sustaine is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

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

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of   £14m   in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements. 

In May 2013, the three actives that comprise Eden's first commercial product, Mevalone, were approved as new ingredients for use in plant protection products by the European Commission ("EC"). This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

Mevalone ä is a foliar fungicide which has been authorised for sale in   Kenya,   Malta,   Greece,   Bulgaria,

Spain,   Italy,   France,   Cyprus,   Albania , Portugal and Macedonia.

Cedroz ä is a nematicide which has been authorised for sale in Malta, Belgium and Mexico.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

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

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