Issue of Equity

RNS Number : 7401L

Symphony Environmental Tech. PLC

11 May 2010

 



11 May 2010

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

EXERCISE OF WARRANTS

and

Issue of Equity

Symphony Environmental Technologies Plc ("Symphony" or "Company"), the environmental plastics and waste-to-value Group, announces that E C Capital Limited has today exercised warrants to acquire 250,000 ordinary 1p shares in the Company (the "Warrant Shares").

These warrants were issued pursuant to warrant instruments dated 20 December 2006 and 27 September 2007 made between the Company and E C Capital Limited (the "Warrant Instrument"). The exercise price for the Warrant Shares is 4.125p per Warrant Share and the aggregate subscription price for the Warrant Shares is expected to be received by the Company before the 17 May 2010. Pursuant to the terms of the Warrant Instrument, 300,000 warrants to subscribe for ordinary shares remain outstanding at the same exercise price of 4.125p.

Application has been made for the Warrant Shares, which will rank pari passu with the Company's existing Ordinary Shares in issue, to be admitted to trading on AIM. It is expected that admission will be effective and that dealings in the Warrant Shares will commence on 18 May 2010.

Following the issue of the Warrant Shares, the enlarged issued share capital of the Company will be 116,734,577 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.

For further information, please contact:

Symphony
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, FD
Allenby Capital
Nick Naylor/Alex Price	Tel: [phone]
Threadneedle Communications Graham Herring/Josh Royston	Tel: [phone]

 

END

 

 

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